Airways, Kingfisher and Air India have decided not to levy any transaction fee on air tickets from tomorrow. It would result in cheap air tickets from the airline office or website but customers have to pay Rs 350-Rs 10,000 more if they purchase tickets from travel agent. The representatives of all leading air carrier held a meeting with Travel Agents Federation of India (TAFI) and apprised them about the decision.

Back-office firm Firstsource Solutions has revised its dollar revenue guidance for 2009 to 21% following international financial crisis and volatility in the stock market. Earlier, it had projected 33-38 per cent revenue guidance for the ongoing fiscal.

Managing Director and CEO of country’s third largest pure play BPO, Mr Ananda Mukerji said, “There is a slowdown everywhere and hence volumes are not as robust as we would have liked it to be. Though seven of our top 10 customers have increased their business with us, the increase is not to the degree we had anticipated.”

HCL Technologies Ltd, India's fifth largest IT company's mega-acquisition of UK-based SAP consulting company Axon Group, is nearly complete. HCL chief executive Vineet Nayar said "Axon investors by majority (99.9 per cent) accepted our cash offer of 650 pence ($9.78) per share. The deal will be finalised after the court approval Dec
15."

Meanwhile, the Delhi-based HCL informed the Bombay Stock Exchange (BSE) that a London court had also cleared the scheme of arrangement to implement the acquisition by its subsidiary HCL EAS Ltd.

While it has always been felt that IITians take more than they give to the society, a study carried out by PanIIT, an organisation of all the seven IITs in partnership with the India Brand Equity Fund, has highlighted the contribution made by IITians for economic value addition, job creation and managing huge budgets over the past 50 years in India and abroad. The study emphasised the economic impact created by them in terms of wealth creation and social transformation.

Sydney - Anglo-Australian mining company BHP Billiton Ltd said Tuesday the

Seoul - South Korea's GM Daewoo Auto and Technology Co, a subsidiary of the financially troubled US carmaker General Motors Corp, said Tuesday that it would halt a production line in December because of sagging sales brought on by the global financial crisis.

The assembly line for mid-sized cars and sports utility vehicles at GM Daewoo's largest plant at Bupyong near Seoul is to come to a halt from Monday through January 4, a company spokesman said in Seoul.

A second production line at Bupyong for compact cars is to be closed down from December 22 to January 4, just like GM Daewoo plants at Kunsan and Changwon.