India secured 41st slot in the Global Innovation Index (GII) 2008-09 while US again topped in the listing followed by Germany, Sweden and the UK. The study about global innovation index was done by industry body CII and B-School INSEAD, covering 130 countries of the world. GII uses data from international agencies including the World Bank and the World Economic Forum to prepare final ranking.

India was at 23rd slot in GII last year. The position of other Asian economies including Malaysia and China remained better than India. China ranked at 25th and Malaysia

Satyam Computers founder and chairman Ramalinga Raju has resigned from the company’s board.

In a letter to the board members, Raju said that the company’s balance sheet has inflated cash and bank balance of Rs 5,040 crore.

“No board member had any knowledge of the real situation. Accrued interest of Rs 376 crore in books is non-existent. Rs 1,230 crore was arranged to Satyam, but was not reflected in the books,” he said.

In response to Raju’s disclosures, the stock was hammered badly by investors, and it lost more than 65 percent.

TRENDnet, a best-in-class wired and wireless networking hardware brand, has rolled out a knowledge-portal, named TRENDnetTV.com, which is specifically designed to offer networking hardware information to ultimate users, business clients and value added resellers.

TRENDnetTV.com is dedicated to providing a complete range of high-class yet reasonable networking solutions for small tomid-sized business and home users alike.

A new programming language known as "VoicePHP" has been announced by an Indian startup with the aim to bring simplicity and universality to Web-enabled voice applications.

If adhered to TringMe, founded by Lucent and Texas Instruments (TXN), Yusuf Motiwala in Bangalore, India in 2007, the concept is not new and it's just a voice-enabled version of the familiar Web programming language PHP (which stands for "PHP: Hypertext Processor").

Recently, the ASUS P565 was launched by ASUS, which basically is a business PDA phone that boasts 800 MHz processor. The handset also features ASUS' latest touch-driven user interface - Glide.

A press release by the company informed, "The P565 delivers graphics and system performance that is higher than anything else in the market at present, posting Vsbenchmark scores almost two times that of competing products in its class."

Mahindra & Mahindra group company, Tech Mahindra has approached Satyam Computer Services for cashless merger as per sources. Satyam is fourth-largest IT Services Company in country. The company is under pressure due to Matyas Deal, which the promoters called-off after protest from other stake-holders.