Despite holding significant stake directly and an indirect interest through infrastructure major Larsen and Toubro in Satyam Computer Services, the Life insurance Corporation (LIC) seems to be wary of handing out projects to the fraud-hit IT company.

Indeed, the insurance behemoth has dropped Satyam from the list of vendors for a key project, sources familiar with the development told DNA Money. Going by them, Satyam's name was among the shortlisted companies for LIC's front office modernisation plan, but was dropped subsequently.

Shares of e-learning services provider Edserv Softsystems had a strong debut on the stock exchanges on Monday.

The company’s scrip got listed on Monday at Rs 55, down 8.33 per cent from its issue price of Rs 60 on the Bombay Stock Exchange, but later settled the day with whopping premium at Rs 137.55, up Rs 78 or 129 per cent.

During trading session, the scrip touched an intraday high of Rs 147 and intraday low of Rs 55 on BSE. The total traded quantity was 3,41,04,135 shares.

The ongoing global slowdown has started to erode salaries of top executives of India's top IT services provider, Infosys Technologies. The company has decided to pay minimum discretionary pay to staff in a bid to control costs and mitigate the impact of global slowdown on Friday.

The chief executive of IT firm, Kris Gopalakrishnan, said, "This is going to be a prolonged downturn. Slow performance, the increment to its employees will be minimal this time around. "

According to Fortune magazine's Friday reports, Hearst Corp intends launching a wireless electronic reader with a large-format screen this year - the proposed device would be big enough to meet the outlining and advertising requirements of newspapers and magazines.

The e-reader, meant for viewing the newspapers and magazines of the publisher, indicates a kind of experimentation that can be considered crucial for hitting upon a business model to contend in the age of the content-free Internet.

With a total investment of Rs 450 crores, ACT Television has launched its first interactive TV services (IPTV) in Bangalore, Karnataka.

ACT, which has now become the first company to introduce Interactive TV service in the city, also said that it will take its new service to other Indian cities such as Andhra Pradesh, Karnataka and Madhya Pradesh by the next 12 to 18 months.

The company said that Interactive TV is a system delivering content services to subscribers using Internet protocol through a broadband link in a closed network infrastructure.

Electronics goods maker, Samsung has slashed the prices of its products between 1 and 1.7% to pass on the full benefit of 2% cut in excise duty to its clients.

In a statement, the company said that it has cut the prices of its high-end LCD TVs by 1.2-1.7% according to the model size that transforms into a price cut in the range of Rs 1,000 to Rs 5,000.

The price cut for Plasma TVs is between Rs 1,000 and Rs 2,000 depending on the model size, the statement added.