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Hexaware appoints R Srikrishna as CEO

R SrikrishnaNew Delhi: Mid-sized IT services firm Hexaware Technologies on Monday said it has appointed R Srikrishna as its new Chief Executive Officer, effective today.

Srikrishna will take over the role from Vice Chairman and CEO P R Chandrasekar, Hexaware said in a statement.

Prior to this Srikrishna was President of Infrastructure and Life Sciences Businesses at HCL Technologies, it added.


Rahul Gandhi clears internal election to pick next NSUI president

Rahul Gandhi0New Delhi: Taking the democratisation exercise within the party's frontal organisations a step further, Congress Vice President Rahul Gandhi has decided that the next president of National Students' Union Of India (NSUI) will be elected through internal election.

Congress sources today said that NSUI office-bearers have been communicated the decision.

The term of Rohit Chaudhary, who was made NSUI's national president in 2012, is over and a new chief will take over soon after completion of the election process.


Monsoon expected to be normal, no need to be alarmist: Minister

Jitendra SinghNew Delhi: Monsoon is expected to be normal in the coming weeks and there is no need to be 'alarmist', Union minister Jitendra Singh on Sunday said.

"The deficiency of monsoon in the first six weeks was 43 per cent. It has now gone down to 32 per cent. So, monsoon has increased by 11 per cent.

"In coming weeks, especially in central as well as northeast India, the forecast is that monsoon will be normal. We want to send a message to our countrymen that this is a good news and there is no need to become alarmist," Singh, the Minister of State for Earth Science, told reporters here.


Cairn seeks ONGC nod to extend Rajasthan block permit beyond 2020

Cairn ONGCNew Delhi: Cairn India has sought partner Oil and Natural Gas Corp's (ONGC) nod for extension of the licence of their prolific Rajasthan oil block beyond the contractual deadline of 2020.

Cairn's contractual term for exploring and producing oil and gas from the Rajasthan Block RJ-ON-90/2 expires in 2020 and the area is to return to the block licensee, ONGC.

The Anil Agarwal-group company, which wants the term of the block extended by a minimum 10 years, has formally written to ONGC on the issue, sources said.


Thomas Cook, Sterling Holiday merger deal gets BSE, NSE nod

thomas cookNew Delhi: The Rs 870-crore merger deal of travel firm Thomas Cook (India) with resort owner Sterling Holiday Resorts India has got clearance from BSE and NSE.

The 'no-objection' from two stock exchanges would allow the two companies to file their scheme of amalgamation with the High Court for further clearance of the deal.

The deal would give Thomas Cook access to Sterling Holiday's 19 properties in 16 holiday destinations across India.


Maruti hikes Celerio AMT output, looks to cut waiting period

Maruti CeleriNew Delhi: The country's largest carmaker Maruti Suzuki India (MSI) is looking to increase the supply of auto gear shift version of its latest compact hatchback Celerio to reduce the waiting period that currently stands at about four months.

Since its launch in February, the company has so far received bookings for over 57,800 units of Celerio, out of which 43 percent (25,000) are units with automated manual transmission (AMT) technology.

"We continue to try and increase the supply of the auto gear shift (Celerio) cars," a spokesperson of MSI said.


Facebook extends closing of WhatsApp acquisition by a year

FacebookNew Delhi: Social networking giant Facebook has extended by a year the closing of its landmark USD 19 billion deal to acquire instant messaging app WhatsApp.

The California-based firm will have to pay WhatsApp USD 1 billion in cash and USD 1 billion in stock options in case it fails to close the deal in the stipulated time.

Facebook said the acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close in the second half of 2014.


AI systems integration with Star Alliance: SITA completes technical requisites

Star-Alliance-Air-IndiaNew Delhi: Global aviation IT firm Societe Internationale de Telecommunications Aeronautiques (SITA) on Sunday said it has completed a variety of technical requisites for Air India to integrate its systems with that of Star Alliance, including those concerning ticketing, e-commerce, departure control and revenue integrity.

SITA, which earlier integrated the systems of erstwhile Indian Airlines and Air India after their merger, also provided its Horizon Passenger Services System (PSS) suite of solutions for Air India to seamlessly integrate with the global airlines' grouping.


GM mosquitoes to check dengue menace?

GM-mosquitoesNew Delhi: A British company has approached Indian authorities seeking permission for technology trials of a certain genetically-modified mosquito claiming it will fight dengue menace.

The modified male mosquito named '513A' will have a gene that ensures its offspring dies before reaching adulthood (in 2-5 days) and thus control breeding of dengue spreading mosquitoes.

This genetically-modified mosquito has been tested in Brazil, where dengue emerged as a big worry during the recently concluded World Cup Football tournament, and the Cayman Islands.


Facebook extends closing of WhatsApp acquisition by a year

facebook-whatsappNew Delhi: Social networking giant Facebook has extended by a year the closing of its landmark USD 19 billion deal to acquire instant messaging app WhatsApp.

The California-based firm will have to pay WhatsApp USD 1 billion in cash and USD 1 billion in stock options in case it fails to close the deal in the stipulated time.

Facebook said the acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close in the second half of 2014.


Stock markets may see volatile trading amid derivatives expiry

Stock-marketsNew Delhi: Trading in stock markets would largely be driven by corporate earnings in a holiday-shortened week ahead and may see volatile trading amid futures and options (F&O) expiry on Thursday, say experts.

Stock markets will remain closed on Tuesday for 'Id-Ul-Fitr'.

Investors will also watch progress of monsoon, investment trend by overseas investors, oil price and movement of rupee against the dollar.

Besides, shares of auto companies will be in focus on announcement of sales data for the month of July from Friday.


Coal India yet to sign fuel supply pacts with 12 power units

Coal-IndiaNew Delhi: State-owned Coal India (CIL) is yet to enter into fuel supply pacts with 12 power units as issues like change in ownership and extension of coal supplies are still being examined by the government.

"Out of this 78,000 MW capacity as on date CIL has signed 160 FSAs (Fuel Supply Agreements) for a capacity of 73,075 MW. "In the remaining 12 cases, some issues related to change of ownership, extension of coal supplies, beyond the period admissible under Tapering Linkage Policy, etc, are involved," said the minutes of meeting dated July 24 of Standing Linkage Committee on Power.


India ready to take back its citizens: Home Ministry

Rajnath SinghNew Delhi: India on Saturday said it will take back all its citizens, detained onboard a boat seized by Australia, but a decision on other nationals will be taken as per international law and convention after ascertaining their identity.

A Home Ministry spokesperson said as per current policy, India will take back its own nationals, detained onboard a boat seized by the Australian authorities in the last week of June this year, provided the consular access clearly determines their origin.


Actor Salman Khan reportedly announces his wish to remain single

Salman-KhanNew Delhi, July 26 : Finally, in the talk show Ek Mulaqat of DD News, Salman Khan did not shy away from accepting that may be he will never marry in his life.

The actor reportedly also said that he has no interest in politics; neither does he wish to direct movies but will continue acting.

It was in the same talk show in the year 2010, Deepika Padukone considered Salman is the real 'Lafanga' though he has many good qualities that can be inspiration for others.


Suzlon board approves Rs 5,000 cr fund raising proposal

SuzlonNew Delhi: Suzlon Energy's board has approved a proposal to raise up to Rs 5,000 crore through the issue of securities.

It is an "enabling resolution to facilitate the company to raise funds at an appropriate time should that be required," the wind turbine maker said in a regulatory filing today.

During a meeting held yesterday, the board also gave its nod for increasing the company's authorised share capital from Rs 1,100 crore to Rs 1,500 crore.


Force Motors Q1 Net up 36% at Rs 19 crore

Force-MotorsNew Delhi: Force Motors today posted 35.87 percent increase in its net profit at Rs 19.39 crore for the first quarter ended June 30.

The company had posted a net profit of Rs 14.27 crore for the same period of previous fiscal. Net sales of the Pune-based company rose to Rs 538.42 crore for the first quarter, as against Rs 497.13 crore in the same period of previous fiscal, Force Motors Ltd said in a BSE filing.

Force Motors sells a range of vehicles, including small commercial vehicles, multi-utility vehicles (MUVs), light commercial vehicles, sports utility vehicles (SUVs) and agricultural tractors. --- PTI


Management rejig at Ranbaxy; Arno Gessner replaces Dale Adkisson

Management rejig at Ranbaxy; Arno Gessner replaces Dale AdkissonNew Delhi: Pharma major Ranbaxy has elevated Arno Gessner to the position of global quality and compliance head after Dale Adkisson has stepped down from the post, a business newspaper has reported.

Meanwhile the company has made Alexander Gebauer as its new head of global research and development, the paper added.

The management rejig at Ranbaxy assumes significance ahead of the $4-billion merger of Ranbaxy Laboratories Ltd with Sun Pharmaceutical Industries Ltd.


BJP, Shiv Sena ideology based on hatred, both harmful for country: Rahul Gandhi

Rahul-GandhiNew Delhi, July 25 : Congress vice president Rahul Gandhi on Friday said the ideology of the Bharatiya Janata Party and the Shiv Sena is based on a politics of hatred and of bullying people, and that both parties were harmful for the country.

"The ideology of the BJP and the Shiv Sena is based on a politics of hatred and of bullying people. They are harmful for the country," said Gandhi.

The Shiv Sena and the Bharatiya Janata Party have formed an alliance to contest the polls in Maharashtra which is to take place in October this year.


President dedicates Rashtrapati Bhavan museum to nation

India-Rashtrapati-Bhavan-museumNew Delhi, July 25 : President Pranab Mukherjee dedicated the Rashtrapati Bhavan Museum to the Nation in a ceremony presided over by Prime Minister Narendra Modi today.

Speaking on the occasion, the President said "I hereby dedicate the Rashtrapati Bhavan Museum to the nation. I am sure this Museum will enable the people of our nation obtain an inside view of the Rashtrapati Bhavan, its art, architecture and vibrant community as well as educate them on the lives of various Presidents."


PNB Q1 net rises 10% to Rs 1,405 crore

Punjab National BankNew Delhi: State-owned Punjab National Bank (PNB) on Friday reported 10 percent growth in net profit to Rs 1,405.12 crore for the April-June quarter of 2014-15.

In the year-ago period, the bank had reported a net profit of Rs 1,275.32 crore, PNB said in a regulatory filing to the stock exchanges.

The bank's total income increased to Rs 12,825.13 crore during the first quarter ended June 30 from Rs 11,746.59 crore in the same period last year.


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