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The Chairman of Housing Development Finance Corporation (HDFC), Deepak Parekh announced about introducing an initial public offering (IPO) for its insurance department within a period of two years, at the annual general meeting (AGM).

As per Mr. Parekh, the rules of the Insurance Regulatory and Development Authority (IRDA) granted the insurers to have an IPO without three years profitability clause, the authorities will discuss about the scheme with their partners Standard Life.

The Indian Space Research Organization, falling short of transponders, was planning to take transponders on rent from other countries. The ISRO department required 200 transponders and the association will acquire them on rent till the time their new satellite is developed and ready to take up the operations.

During the year 2007, ISRO had 211 transponders; their targets were to launch 500 transponders in the satellite by March 2012, but due to defect in the transponders and premature terminations of transponders, the target became unable to be achieved.

State Bank of India is the Country’s largest bank, and it is hoping to move a new proposal for the bank’s rights of a smaller amount than Rs 20,000 crore that was proposed earlier because the government is currently experiencing a fiscal constraint. Right now, the government holds a 59% stake in the bank and will then pick up the amount that is offered.

India’s Tata Motors has just announced on Thursday that it will open a brand new vehicle plant in South Africa. It will produce commercial vehicles and passenger vehicles, which are South Africa’s biggest export.

Tata Motors is India’s one of the largest vehicle manufacturer and is now hoping to expand its success in other parts of the world. The vehicle assembly in South Africa is expected to begin later this month.

The Department of Public Health has reminded Massachusetts’ citizens to adopt safety measures from the mosquito bites this summer. This announcement came into consideration with the arrival of West Nile Virus. The virus spreads due to the mosquitoes and due to the virus, human brain swells drastically.

Beyene, 36, became the first person to undergo the world’s first successful transplant of artificial trachea which was made of his own stem cells grown on a bio-reactor under controlled conditions.

Beyene was suffering from tracheal cancer and was referred to Professor Paolo Macchiarini of Karolinska University Hospital as a last hope to get something done. And there, he was operated and a new trachea was inserted within him which was made of Beyene own cells and of special plastic polymer.