Infosys Technologies on Wednesday signed a multi-million dollar outsourcing contract with Netherlands’ Royal Philips Electronics. As part of the agreement, Philips will enter into a multi-year contract with Infosys BPO to provide finance & accounting services and the processing of purchasing orders.
Infosys will also acquire three shared service centers located in India, [...]

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Steel tycoon Lakshmi N Mittal on Wednesday backed fellow billionaire and Reliance Industries Mukesh Ambani, who is fighting opposition to get market determined price of gas to be produced by his firm, saying globally fuel prices were much higher than those proposed by Ambani.
During his meeting with Petroleum Minister Murli Deora, Mittal said [...]

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Ginger, the budget hotel arm of India Hotels that also owns the luxury hotel chain Taj, wants to set up a string of hotels on the top floors of malls.
Most malls find it difficult to find tenants for third, fourth or fifth floors since most retailers want to stick to lower levels.
Ginger Hotels now will [...]

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Setting at rest speculation that the government may put a cap on salaries for India Inc, Union Finance Minister P Chidamabaram has said there cannot be any legislation on pay packets nor was it desirable.
“The government does not legislate on salaries and government ought not,” he said here, replying to a question raised by a [...]

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A high-powered Department of Telecom (DoT) committee has recommended that only three GSM (one slot reserved for state-owned BSNL/MTNL) and two CDMA operators be allowed to offer 3G services in any given circle.
It has further proposed to double the base price for auction of 3G spectrum to Rs 2,800 crore per player on a pan-India [...]

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Wine drinkers in India were cheered by the recent news that the government had (effective July 3) abolished the invidious ‘Countervailing Duty’ imposed on imported alcoholic beverages — and in turn increased the basic customs duty on wine from 100 per cent to 150 per cent, presumably to protect the fledgling domestic wine industry (and [...]

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