Due to rising input costs, Logistics firm Gati Ltd announced that it will raise the rates of its services by up to 10 percent by January 2009.

Fearing the slowdown in the market, the company has also decided to go slow on its expansion plans of Rs 1.5 billion in the year.

While speaking on the sidelines of India Economic Summit, Gati Ltd Managing Director and CEO Mahendra Agarwal said, “There has been a constant increase of rentals, fuel prices and operating costs. We may not immediately raise, but there is a need for prices to go up.”

Nicosia, Nov 18 - The National Iranian Oil Company (NIOC) has formally approved the feasibility report submitted by ONGC Videsh Ltd (OVL) and its consortium partners on the discovery made in Iran''s Farsi offshore block, which covers an area of 3,5000 sq km.

The feasibility report was submitted by OVL and its partners - the Indian Oil Corporation (IOC) and Oil India Ltd last December.

Following this development, the consortium of Indian companies led by OVL, can now work towards the development of the gas field. Iran follows a bidding mechanism for giving development rights.

Kobian, one of the well-known vendors in the IT hardware sector, announced that it has been awarded ‘Best PC Casing (Cabinet)’ and ‘Best Speaker for its Mercury iXA range of Speakers’  by VARIndia at its Annual Star Nite Awards, held in the Hotel Eros InterContinental on Nov 14, 2008.
 
IXA speaker range is the fresh range rolled out by the company. The lifestyle product range from Mercury has been branded as iXA with Sub Woofers and Home Theatre systems being the first of the range announced in India.
 

Yahoo co-founder, Jerry Yang, who took on the CEO role in June 2007 in an effort to turn the company around, will step down from his role as soon as the board finds a replacement. Under Yang, Yahoo talks for an acquisition by Microsoft Corp broke down; rival Google Inc pulled out of a deal to sell some ads on Yahoo; and the company’s shares have withered amid tough competition and a failing global economy.

Owing to a slowdown in the manufacturing sector and the ongoing economic crisis, leading steel manufacturer Ispat Industries Ltd is planning to cut production further by 10 percent by December.

The company's Vice-Chairman and Managing Director, Vinod Mittal, told reporters on the sidelines on the India Economic Summit the company has already cut its production by up to 30 per cent in the current month, and would further cut it by up to 40%.

With effect from 24 November 2008, the termination of ICANN-accredited registrar EstDomains will go ahead.

ICANN sent a notice of termination on 28 October 2008, to EstDomains, Inc. (EstDomains) based on an Estonian Court record reflecting the conviction of EstDomains' then president, Vladimir Tsastsin, of credit card fraud, money laundering and document forgery.