NATIONAL Parliament approves IDBI Repeal Bill
New Delhi: Parliament today (Dec 15, 2003) approved the Industrial Development Bank of India (IDBI)
Repeal Bill to enable its conversion into a universal bank with Finance Minister Jaswant Singh
committing to pump in Rs 2,500 crores over the next five years to fulfil its re-capitalisation requirement.
Total Outsource to pick up 40 % equity in Syntax
Bangalore: US-based Total Outsource Inc (TOI) has picked up a 40 per cent equity stake in Bangalore-based Information Technology (IT) consulting firm Syntax Soft-Tech for an undisclosed sum.
INTERNATIONAL IBM to offshore 4,730 jobs to India, China
Washington: Computer giant International Business Machines (IBM) Corp is planning to move some
4,730 jobs of software programmers to India and China among others, in one of the biggest moves
to "offshore" highly-paid US software jobs.
Insurance cover for off-shoring companies
London: Two leading global insurance companies, including Lloyd's, have put together the first
specialist cover for companies off-shoring call centre and back office operations in countries like India
amid warnings that such relocations involve huge risks.
'Sankhya' bags multimillion-Dollar Emirates contract
Dubai: Indian IT firm Sankhya has bagged a multimillion- Dollar contract from Dubai's Emirates Airlines
to supply a comprehensive training management system for its flight crew.
