It might be disheartening to know that the IT Examiner sources have revealed that IBM might be dismissing 16,000 workers in 2009 and those belonging to the hardware area would suffer the most.

“We came to know about the 16,000 job cuts. The reports are true though nothing has been made official yet from the management’s side. It will definitely have huge impact on IBM jobs mainly in parts like China, Europe and US,” reported the IT Examiner, quoting a source.

Engineering and Construction Company, Punj Lloyd's UK based subsidiary - Simon Carves (SCL) has filed a case against SABIC Petrochemicals UK Ltd on the issue of advance payment bond and a performance bond. The company demanded costs and damages associated with cost overruns in the project. The UK based court is likely to give its verdict within few weeks as per reports of The Financial Times.
 
It may be noted that Simon Carves (SCL) had signed a contract with SABIC for the construction of a LDPE plant in UK. However, it was terminated alleging SCL's failure to complete the project in time.

The Association of Scientific and Technical Officers (AOSTO) of ONGC, a major part of the oil sector officers unions, has declared that they have suspended their protest for 30 days.

Mr. Rajan Pillai, AOSTO President, said that a letter in this regard is being submitted to the administration.

Mr. Pillai also that the association is sticking to its demand to revise the pay structure.

The Government has said the ministries concerned will analyze the whole matter regarding pay revision in the oil segment, and submit a complete report within next 30 days.

In order to continue with its aggressive expansion planning, country’s fixed line and broadband operator, Tata Communications (formerly VSNL) has approached the government, a 26 per cent shareholder, for a rights issue to raise Rs 1,000 crore and another Rs 2,000 crore through debt to finance acquisitions in the US and the UK and bid for spectrum for wireless broadband.

It is believed that the operator is trying its best to raise equity since early last year, yet, the state has not approved any of the company’s previous proposals.

German luxury carmaker, Audi India reported three-fold increase in its luxury cars sales in 2008, at a time when entire automobile sector is facing the heat of global slowdown. Audi sold 1,050 units in the country in the year 2008 as compared to 349 units during the previous year.

Washington, Jan 8 : If recycled paper and plastic products were not enough, Motorola has now launched a cell phone made from recycled plastic water bottles.

Called the MOTO W233 Renew, the mobile phone not only boasts plastic exterior made from recycled material, but also the device is the first "carbon neutral" phone, said the company.

"Through an alliance with Carbonfund. org, Motorola offsets the carbon dioxide required to manufacture, distribute and operate the phone through investments in renewable energy sources and reforestation," All Headlines News quoted Motorola as saying in a press release.