Refex Energy, the part of BSE-listed Refex refrigerants, has informed that the firm is setting up a 50 MW solar PV power plant in Gujarat.

Recently, the energy firm for the purpose has signed a MOU with energy and petrochemicals department in the State.

Refex Energy stated in an official communiqué that it intends to begin the first phase of the 50 MW in 2009 and complete the investment in stages.

The Chandigarh-based Venus Remedies’ manufacturing facilities at Baddi Campus has secured Good Manufacturing Practices certificate from the Ministry of Health and Medical Education of Iran which will enable the Company to export its products to Iranian market.

Technical analysts believe that this is a major breakthrough for the Company as Iran holds a significant share in Middle Eastern Pharmaceutical market and would open door to other Middle Eastern Markets as well.

Syngene International, a unit of Indian biotechnology major BIOCON Group, has informed that it will offer fully integrated drug discovery services by partnering with Sapient Discovery, a US based Biotechnology Company.

Sapient Discovery uses integrated, proprietary computational and experimental laboratory technologies, and cellular biology and proprietary data mining to accelerate the drug discovery and optimization processes.

The two-day summit that ended Tuesday couldn't resolve differences among Arab leaders over their policies toward Israel and Palestine. The Arab summit in Kuwait was planned by Arab leaders to resolve various issues out of which the recent fighting in Gaza needed urgent attention. Arab leaders agreed to formulate a plan to help in rebuilding Gaza.

The French government is planning to give second aid package worth Euro 5 - 6 billion (up to US $8 billion) to struggling carmakers including Renault SA and PSA Peugeot Citroen.

Christine Lagarde, the French finance minister said that she thinks they will have a sufficient sense of responsibility to take these measures themselves but it would seem absurd to me to put state money ... into industrial sectors, into carmakers Renault or Peugeot, and for company boards to decide to award superbonuses with that money.

While software segment is facing the heat of global slowdown, Polaris Software Lab Limited performed well for the third quarter of current financial year. The company provides application development solutions to banking, finance and insurance sector.

The company posted 94 per cent increase in net profit despite low demand in IT segment and tight liquidity conditions. The board of company has decided to pass 30 per cent dividend to shareholders.