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INTERNATIONAL
PowerLeap launches upgraded solutions for PII, PIII
Millstone (New Jersey): PowerLeap is pleased to announce the release of two new 1.4GHz CPU upgrade solutions for existing Pentium II and Pentium III computers.

Lenders moot $ 3 bn secured credit line for WorldCom
Washington: WorldCom Inc.'s lenders are considering a $ 3 billion secured credit line for the troubled telecommunications firm, 'The Wall Street Journal' said on July 10.

NATIONAL
IDBI rejects M’shtra govt’s offer to buy DPC
Mumbai: Irked by Maharashtra government's offer to buy the almost defunct Dabhol Power Company's (DPC) power at Rs 2.25 per unit, Industrial Development Bank of India (IDBI), the lead financial institution to the $ 3 billion project, on July 11 said, "it will reject the offer as it is absolutely unviable and uneconomical".

Jaswant Singh appointed India's Governor to IMF
New Delhi: Finance Minister Jaswant Singh has been appointed India's Governor to the International Monetary Fund (IMF).

AI board to meet again on fleet acquisition report
Kochi: The Air India (AI) board, which met here on July 11, failed to discuss the preliminary report of the expert committee on fleet acquisition and has decided to convene another meeting in a fortnight's time to discuss the issue, civil aviation secretary and Air India chairman K Roy Paul on July 11 said.

'Govt considering proposal to acquire 43 aircraft'
New Delhi: The government is considering an Indian Airlines' proposal to acquire 43 aircraft as part of its fleet and route expansion programme, Civil Aviation Minister Shahnawaz Hussain has said.

First batch of Sukhoi to join IAF fleet by August
New Delhi: The first batch of 10 sophisticated Russian-made multi-role Sukhoi-30 MK-I warplanes will form part of Indian Air Force fleet in August giving more teeth to the country's military strike power.

Aztec signs software development pact with Cadence
Bangalore: Aztec Software and Technology Services Ltd, a leading provider of software services, announced that it has signed a software development services agreement with Cadence Design Systems, Inc, the world's leading supplier of electronic design products and services.

Wipro ePeripherals launches new dot matrix printer
Bangalore: Wipro ePeripherals Ltd (WeP), a leading IT peripherals solutions and services enterprises, has launched Wipro EX 5400 dot matrix printer (DMP), the all-in-one nine pin 5-paper path dual tractor printer at 400cps print speed.

American Express opens fifth branch in B’lore
Bangalore: American Express Bank on July 11 opened its fifth branch in India at Bangalore.

IMB posts top market share in domestic storage
Bangalore: IBM India on July 11 said it now leads the domestic storage market with 23 per cent market share, leading at five per cent points, ahead of competition, quoting IDC's latest report concerning the storage market in Q1 2002..

Air India to cut Gulf sector fares from August
Thiruvananthapuram: National carrier Air India would reduce passenger and cargo fares on the Gulf sector from August, Union Minister of State for Civil Aviation Shripad Naik said on July 11.

Low-cost indigenous e-mail machine has no takers
Bangalore: An Indian company that launched a low-cost e-mailing machine is facing hard times with funds drying up and multinational and local firms eyeing it for a possible takeover.

SENSEX opens firm, dips under pressure in early trade
Mumbai: The SENSEX opened steady and later turned weak at early stages in line with fresh downslide in key heavyweights on the Bombay Stock Exchange (BSE) on July 11 on continued selling pressure from investors.