Company News

ONGC formalizes move for uranium hunt

The Oil and Natural Gas Corporation Ltd. (ONGC)New Delhi, Nov. 11 : The Oil and Natural Gas Corporation Ltd. (ONGC) has signed an MoU with Uranium Corporation of India Ltd. (UCIL) for joint cooperation in uranium exploration and development.

The MoU was signed in South Block by ONGC CMD R S Sharma and UCIL CMD Ramendra Gupta in the presence of Chairman of Atomic Energy Commission (and Secretary, Department of Atomic Energy) Dr. Anil Kakodkar.

ONGC Directors Dr. A K Balyan, N K Mitra, D K Pande and U N Bose were also present on the occasion.

ZTE Launches Prototype of the World’s First 10G EPON Equipment

ZTE Launches Prototype of the World’s First 10G EPON EquipmentZTE Corporation, a top global provider of telecommunications equipment and network solutions, has rolled out the prototype of the world’s first 10G EPON network equipment including related system services.

The ZXA10 C220 and MDU prototype equipment are unified platforms designed for EPON, 10G EPON and GPON networks.

Rio to Cut Iron Ore Output 10% due to low demand in China

London-based company, Rio Tinto Group has decided to reduce ore production by 10 per cent following decline in demand by Chinese steel makers and competition from Cia Vales do Rio Doce.

Rio Tinto Group is the second largest ore exporters in the world and is a prominent company working in mines of west Australia. Shipments from Rio's mines would be between 170-175 million metric tons by December end. It produced 145 million tons of ore from its Pilbara mines of West Australia last year.
 

L&T Consortium bags India’s first Monorail System from Mumbai Metropolitan

L&T Consortium bags India’s first Monorail System from Mumbai Metropolitan Larsen & Toubro, India’s leading Technology, Engineering & Construction Company along with its Malaysian partner Scomi Engineering Bhd has secured an order worth Rs 2460 crore from the Mumbai Metropolitan Region Development Authority (MMRDA) to implement the country’s first Monorail System in Mumbai. 
 
The consortium bagged the said contract by beating Reliance-Hitachi Consortium’s bid.  

Tarceva helps in slowing lung cancer

Tarceva helps in slowing lung cancerA study conducted by OSI Pharmaceuticals Inc. of Melville and its partners in an anti-lung cancer drug, Tarceva indicates that the medication slows the advance of lung cancer when it is administered after chemotherapy.

On the other hand, another study has found that a combination of Avastin and Tarceva were ineffective in prolonging the life of cancer patients. 

The results of the study by OSI executives will be submitted at an upcoming medical conference. Thereafter they would be submitted to the US FDA for approval of Tarveca.

Apple Executive Hired From IBM Ordered to Stop Work

The U.S. District Court for Southern New York asked Mark Papermaster to stop working with IBM till further orders. Mark Papermaster is a former employee of IBM who recently served as a vice president of IBM's blade development unit. IBM filed a case against him in the US court following apprehension of disclosure of important trade secrets of IBM.

IBM said in the filing that Papermaster possess sensitive company information and secrets regarding business strategy and long-term opportunities. He would surely disclose secrets to Apple which would cause huge losses to IBM. Meanwhile, Apple said that it has hired Papermaster for his general skill as an engineer and his strong management skills.

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