Here is good news for home buyers planning to take a loan of above Rs 20 lakh.

India’s top mortgage lender Housing Development Finance Corp (HDFC), on Friday, has slashed housing loan rates for new loans by 50 basis points (bps) for a limited period.

Under the scheme, home loan clients can now avail loans between Rs 20-30 lakh at an annual interest rate of 9.75%, down from 11.25% earlier.

Moreover, the customers looking for loans above Rs 30 lakh would have to pay an annual interest rate of 10.75%.

Maytas Properties, the realty division of Maytas Infra, has decided to shut down its four arms including hospitality, warehousing, affordable housing and retirement communities.

It is also learnt that the above decision has also resulted in the company issuing “pink slips” to about 80% of the 500 strong staff even as Maytas Properties has ceased most of its projects.

Hyderabad, Jan 17: The newly constituted board of Satyam Computer will meet here today to take stock of the situation arising out of Rs. 7000 crore scam perpetrated by the previous board.

On Thursday, the Government announced the nomination of three more directors to the board of Satyam Computer Services. They are Tarun Das, Chief Mentor of CII, T. N. Manoharan, an eminent chartered accountant, and Suryakant Balkrishna Mainak of the LIC.

Panasonic, announced their three sub-$200 cameras on Friday, which they avoided doing at last week's Consumer Electronics Show in Las Vegas.

Two of the cameras, which would provide a slim and compact build at a cheaper price than the company's high-end slim and compact FX-Series, have been included in the FS-series. As far as the third camera is concerned, it will be part of LS-series, which though would be heaviest of Panasonic's point-and-shoot line, but would be the cheapest. It has been learnt that the LS-series camera could be availed at a suggested retail price of just $119.95.

It was recently informed by the graphics maker Nvidia Corp. that due to weakness in end-user demand, Q4 revenue will decline by up to 50 percent sequentially.

Nvidia reported, “Specifically, the massive shortfall was a result of further weakness in end-user demand and inventory reductions by Nvidia's channel partners in the global PC supply chain.”

Nvidia reported $897.7 million for the Q3 of fiscal 2009 compared to $1.12 billion for the third quarter of fiscal 2008, a decrease of 20 percent.

After bankruptcy of leading financial institutions of United States, its now turn of Nortel Networks Corp. to file bankruptcy following the adverse impact of global financial crisis on its business.

Nortel Networks Corp is a leading telephone equipment manufacturer in US, which is facing tough liquidity conditions under the impact of global financial crisis.