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Kanika Datta: India Inc as mendicant
Kanika Datta / New Delhi August 6, 2009, 0:19 IST

Tempered
ArcelorMittal: ArcelorMittal is firmly out of crisis mode. The world’s largest steelmaker, led by billionaire industrialist Lakshmi Mittal, delivered an unexpected return to profitability in the third quarter – after nine months of consecutive losses. Arcelor is nevertheless right to be rein in shareholders’ expectations.

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No need for fresh equity, says Andhra Bank CMD
State-owned Andhra Bank has enough capital and there was no need for government funds or follow-on public offer to meet its 20-25 per cent growth target for 2009-10 (April-March), Chairman and Managing Director RS Reddy said today.
Management

State on top in software exports

spite the global recession, Karnataka continue to lead in software exports which touched a margin of Rs 71,000 crore in 2008-09. - Ratan Tata defends JLR acquisition - Narayana Murthy to join NPCI board - Surajeet Das Gupta: India's still the low-cost haven">Surajeet Das Gupta: India's still the low-cost haven - Narayana Murthy mulls investment in green VC fund - "Next 12-18 months will be difficult for Tata Steel" - Indian hotel chains face double whammy “Exports in the IT sector registered a growth of 35 per cent in 2008-09 when it touched Rs 71,000 crore compared to Rs 58,000 crore in 2007-08. We are still number one”, Minister for IT-BT and Information Katta Subramanya Naidu told reporters here today. The third edition of “Bangalore IT.Biz” would be held here from November 11, 2009 for which the government has planned to approach at least 800 firms to participate in the event, he said. It would be a forerunner to the Global Investors Meet planned by the state to attract investors in January, he added. The Mexican government, which partnered the second edition of IT.Biz, has agreed to associate itself with the coming edition too, Naidu said. Top business leaders like Tata Group Chief Ratan Tata, Reliance Industries head Mukesh Ambani, Infosys mentor N R Narayana Murthy and Wipro Chariman Azim Premji would be invited to the event, he said. The government is also planning to unveil a new IT policy to attract more investors, besides a policy on Bio-technology, hardware and the semiconductor sector. The government was making efforts to persuade IT firms to undertake a recruitment drive during the event and offer at least 1,000 jobs, he added.


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