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Tejas twin-seat trainer's first flight today
On Thursday morning, the first prototype twin-seater, trainer version of the Tejas Light Combat Aircraft (LCA) will taxi out to the runway in Bangalore. With its design team watching tensely from the sidelines, the two test pilots will rev up the engine, race down the runway and, if all goes according to plan, lift the twin-seat Tejas into the sky for its first flight.

Novartis gets patent for cancer drug
Swiss drug manufacturer Novartis AG has been granted patent protection in India for Nilotinib, a superior version of blood cancer drug Gleevec (imatinib mesylate). It has been engaged in a legal battle with the government on the latter’s decision to deny patent protection for Gleevec.

News of the day

Milking it
While housewives across the country are complaining about high inflation levels, Mother Dairy has come up with a great advertising idea. It has put out advertisements saying it has not hiked prices of its toned milk and full cream milk. The move comes at a time when some of its competitors (like Amul) have raised prices. Mother Dairy says the advertisement has been issued in the public interest.
Small Business

NYSE Euronext leads US IPO market with $19 bn proceeds

With more IPO listings on horizon, NYSE Euronext for the fifth consecutive year led the US IPO market, with over $19 billion in proceeds compared with $8 billion on Nasdaq. - Power rules IPO market - 1% of NSE and 6% of MCX on the block - MCX to work on illiquid and agri-contracts in its 7th year - NYSE Euronext Q3 net income plunges 28% to $125 mn - "No point killing the golden goose by hiking realty prices" - 'The nature of the rally is not clear' As of November 30, NYSE Euronext’s European and US markets rank second globally with almost $21 billion raised through IPOs in 2009, just below the near $23 billion in IPO proceeds raised on Hong Kong Exchanges and Clearing (HKEx), the release said. NYSE Euronext US markets have not only raised more in dollar proceeds, but, for the first time, also are scheduled to attract a larger number of IPO transactions than any other US market by year-end. An additional 8 IPOs are scheduled to go public on the NYSE in the next two weeks, to raise an estimated additional $2.7-billion in proceeds, as compared with only one or two more IPOs scheduled on Nasdaq to raise up to an estimated $180 million. "More than any other exchange group, in 2009 NYSE Euronext’s US markets were able to capture the renewed momentum in IPO listings," NYSE Euronext America Head of Listings Scott Cutler said.


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