Shreyas Shipping & Logistics Ltd has sold its vessel `M V OEL Aishwarya` for USD 972,637.20. The company is facing the heat of global financial crisis and posted record losses in the September quarter of this financial year.

The funds from recent sell out would help to overcome liquidity problem being faced by company following global financial crisis.

The company posted loss of Rs 19.46 million in the reporting quarter while recorded profit of Rs 60.31 million in the same quarter last year. Its net sales registered an increase of 30.55% to Rs 539.58 million.

With the help of the Zadko Telescope, an enormous gamma ray burst that happened 11 billion years ago -- before planet Earth was formed was captured by Astronomers in Australia.

Dr. David Coward of the University of Western Australia, also the lead Astronomer behind the discovery informed that the image which they recorded is a window in time thus allowing them to look into the distant past to a time when the universe was very unusual.

Dr. Coward reported, "We are discovering the richness of this transient universe, one that is filled with brief but extremely bright flashes. If a similar explosion happened in our galaxy today, it could result in mass extinctions on Earth."

With the aim to attract more and more customers, Sony Ericson recently unveiled its W508 Walkman phone. The highlight of this set is that the users are allowed to mange their music via PlayNow arena, TrackID, Shake and Gesture Controls without any hassle.

The users are also allowed to personalize the phone with eight changeable style-up covers and SenseMe depending on the mood.

It might be very surprising to know but on Saturday, from a ration shop at Gelda Nagar in Ghatkopar (West), Ghatkopar Police arrested two persons and seized fake soaps bearing well-known brands worth Rs 62.60 lakh.

The Police reported, "The goods seized include brands Lux, Santoor and Lifebuoy besides over 1.4 lakh wrappers and soaps."

The Police arrested Shivprasad Gupta (20) and Surendra Kumar Singh (43), while the mastermind is at large. The arrested men, who have remanded in police custody till
12th January, have been booked under the copyright and trademark laws.

On Monday, it was revealed by World Bank that action against a total of five entities in India, including Wipro Technologies, and an individual has been taken. This comes in the scene when the controversy involving Satyam's debarment has also not vanished completely.

Besides offering improper benefits to Bank staff, these entities and individual were also found to have violated the fraud and corruption provisions of the Procurement Guidelines or the Consultant Guidelines. So the action against them was taken by the World Bank authorities.

The CES 2009 will see the demonstration of 450Mbps Wireless N Router TEW-773GR by TRENDnet, which the company is really excited for and claims that it will provide extraordinary performance.