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Anil Ambani’s Reliance Power has said that it has attained financial closure of around Rs 17,500 crore for its power project at Krishnapatnam, Andhra Pradesh.

It is a 4,000 MW coal-fired project which will be funded in 75 parts debt and 25 parts equity. This coal fired project is the biggest in South India, and is expected to provide power at a tariff of Rs 2.33 per unit to the states of Andhra Pradesh (1,600 MW), Maharashtra (800 MW), Tamil Nadu (800 MW) and Karnataka (800 MW).

LG has launched its latest smartphone model – the Cookie Zip, in the Indian market. It’s most important feature is that it is designed not for GSM users, but for CDMA users. It claims to be compatible with EV-DO networks.

The EVDO (Evolution Data Optimized) offers Ultra high speed data communications.

With a pocket friendly price of Rs. 8299, the LG Cookie Zip comes with a lot of features, including a 7.6cm WVGA full touch screen display, a 2 MP camera, an expandable memory up to 4 GB and an internal memory of 72 MB, and Bluetooth.

ISRO has successfully launched an RH 200 technology rocket from the Thumba Equatorial Rocket Launching Station (TERLS). The rocket, which was launched with a payload taken from the students of Vellore Institute of Technology University (VITU), achieved a height of 60 km within just a couple of minutes.

The students' payload consisted of tri-axial accelerometers and a power switching module, along with a safe arm relay unit.

This is the first time a students’ indigenous rocket was launched, with the VSCC’s experts’ guidance.

The Infrastructure Development Finance Company (IDFC) declared on Thursday that it will accumulate Rs. 840 crore by issuing shares to Actis and Khazanah, which are a private equity and a Malaysian sovereign wealth fund respectively. The board had allowed Rs 3,500 crore being raised previous month, as a long term fund for financing its development plans. Rs 2,654 crore has already been raised.

The approval of the shareholders was achieved by IDFC via a postal ballot to obtain Rs 840 crore worth funds through convertible preference shares (CCPS).

HCL Infosystems recently launched O’zone – an end-to-end cloud-based computing solution service which is chiefly targeted at big enterprises, mediocre organizations and professionals. It is designed to provide the advantages of reduced capital expenses and increased data security among many other features.

It also has the benefits of green computing and a disaster or crash recovery. There will also be a 24x7 service to provide technical support and performance guidance whenever required.

Orkut, which is currently the king of social networking sites in the world, is facing tough competition from Facebook, which is fast catching up with it, even in India and Brazil, where the Google creation had been reigning for years. It is hard to imagine that barely a year back Orkut had more than double the popularity than Facebook.

Facebook’s CEO, Mark Zuckerberg, only 26 years old, has predicted that Facebook will soon reach one billion users. And nobody is challenging this claim, as Facebook continues to grow as the most innovative social networking site.