Kernex Microsystems India Ltd has informed that it has won a bid for a contract, which is valued at US$ 16.05 million from an Egypt-based firm.

In the month of May, the company participated as prime bidder in a bid for execution of 136 Level Crossing developments for Egyptian National Railways (ENR).

The company received a communication from its local representative in Egypt, reporting that Kernex has won the bid. However on receiving the official intimation from ENR, the contract will be signed.

Global wire and cable solutions provider for the power and telecom industry, Sterlite Technologies Limited, has received an order worth Rs 254 crore from Power Grid Corporation of India (PGCIL).

Under the contract, the company will supply Sterlite's ACSR Moose power conductors to Power Grid Corp.

As per PGCIL's requirement, about 60% of the contract value would be executed within this year.

JPMorgan Chase, a leading global financial services firm has informed that it has acquired all deposits, branches, assets and certain liabilities of Washington Mutual's banking operations from the Federal Deposit Insurance Corporation (FDIC) for around $1.9 billion.

However, the transaction excludes senior unsecured debt, subordinated debt and preferred stock of Washington Mutual's banks.

Leading Indian software company NIIT Technologies has signed a multi-million pound deal with Britain's premier airline British Airways.

Under the three year deal, NIIT will provide support and testing of critical business applications across various business areas of the British Airways.

The deal arrives at a time, when the global airline industry is going through bad phase due to high fuel costs, declining sales and a credit crunch. British Airways is also looking at ways and means to reduce costs.

Educomp Solutions Ltd, a globally diversified education solutions provider, has signed an agreement with the Department of State Education Research & Training
(DSERT), Government of Karnataka for implementation of Computer Aided Education (CAE) in 1571 schools in the state.

The order is valued at Rs 109 crore and has to be executed over five years.

Apart from this, Educomp has also signed an agreement with the Government of Chhattisgarh for imparting CAE in 52 hostels.

Kolkata-headquartered McNally Bharat Engineering has secured an order worth Rs 115 crore from Bharat Heavy Electricals Ltd (BHEL), Bangalore.

The contract involves design, engineering, supply, E&C and structural steel works of coal handling plant mechanical equipments for GSECL, 1x500 MW UKAI Project. The contract is schedule to be completed in 18 months from the date of LoI.