Archive for January, 2008 Page 2 of 8

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Rupee weakens versus US dollar

Published at January 24, 2008 in General and News. 0 Comments

The rupee turned weak and was quoted lower by about seven paise against the US currency at 39.55/56 a dollar in morning trade on Wednesday on heavy dollar demand amid weakness in equity markets, which fell back after a strong start.

Despite weakness in dollar against major currencies in overseas market after the US Federal Reserve announced a surprise rate cut by 75 basis point on Tuesday, the Indian unit came under pressure due to dollar purchases by banks.

In active trade at the Interbank Foreign Exchange (Forex) market, the rupee resumed better at 39.40/43 a dollar on the back of a strong bounce in equity market in early trading session this morning.

It, however, fell back to 39.55/56 in late morning deals against previous close of 39.4850/4950 as the market failed to hold initial gains.

The BSE benchmark Sensex bounced by 946.66 points to 17,676.60 in the initial five minutes of trade, later later fell back to 17,285.26 at 1030 hrs, up 555.32 points from previous day’s close of 16,729.94.

Forex dealers said there was all-round dollar buying in exchange market in early trade.

Heavy FII pullout from equity also weighed on the rupee sentiment. Foreign Institutional Investors reported outflows of $3 billion in the last five days. Source: IBNLive.com



Volkswagen launches 'Passat' in Bangalore

Published at January 23, 2008 in Business. 0 Comments

Volkswagen, Europe’s largest car-maker on Monday signed a partnership agreement with city-based PCH Group, making it the first authorised dealer for Volkswagen in South India, and announced the entry of the Rs 25 lakh ‘Passat Sedan’ in the Silicon city.

The PCH group will invest around Rs 50 crore towards setting up two world class showrooms for Volkswagen cars in India, Gurjit Singh, Managing Director of the group told reporters here.

It will open the first Volkswagen showroom in Bangalore at Hosur Road by end of 2008. The showroom will offer 3S facility- Spares, Sales and Service, equipped with the latest service infrastructure, he said. They also plan to open a first-of-its kind bouitque by June 2008 at 100 feet Indiranagar, which will provide Volkswagen offerings.

The PCH group,under the entity Elite Motors, currently has an interim facility for Volkswagen at Ulsoor Road, he said.

Elite Motors also plans to open two more showrooms by the end of 2008, and more services infrastructure by 2009.

Announcing the entry of Passat Sedan, Andreas Prinz, MD, Volkswagen Passenger cars, at Volkswagen Group Sales India Private Limited, said that since its launch in the country 70-80 Passats were being sold per month since October.

“India is a key market, with Bangalore being one of the important markets,” he said adding that the company was expecting higher sales in the future.

Volkswagen is building a new production plant in Pune with an investment totalling some 410 million Euros. Source: Hindu



Dell says it’s not shutting down

Published at January 23, 2008 in IT and Technology. 0 Comments

Dell says it’s not shutting down its R&D centre in Bangalore, contrary to recent media reports. The company is merely shifting focus from hardware to software R&D, said Mr Pallab Talukdar, Enterprise Strategy Group, Dell India.

Earlier, Dell’s focus at the R&D centre was primarily on hardware. Gradually, it is phasing out hardware R&D from Bangalore and moving it to its other centres worldwide. “It’s more of a reorientation of focus. The Bangalore R&D centre will now focus on management software and testing,” said Mr Talukdar.

The R&D centre in Bangalore currently employs around 500 people. On whether there have been any job cuts as a result of this shift in focus, the company said there have been “minor changes and reorganisation” and no major firing. In fact, the company will be recruiting more people, said Mr Talukdar, at the sidelines of a press conference to announce the launch of Dell’s new PowerEdge M-Series blade solution.

New server

Dell hopes to set a “new standard for date centre energy efficiency and flexibility” with the PowerEdge M Series blade.

Targeted at the mid to large enterprises, the M Series enables businesses to save on power and cooling costs while increasing server capacity. It provides lead-free configurations, thus delivering a green IT solution that helps customers minimise environmental impact. The M1000e blade enclosure in now available worldwide at a starting price of Rs 3,11,948, along with blades at Rs 96,148. The M1000e supports 16 blade servers. Source:thehindubusinessline.in

Dell shifting hardware design unit out of Bangalore

Published at January 23, 2008 in IT and Technology. 0 Comments

Top computer maker Dell is shifting its hardware design unit from its R&D centre in Bangalore to Austin and Taiwan, a top company official said.

“Hardware design is being slowly phased out from the centre here to our centres in Austin and Taiwan”, Pallab Talukdar, enterprise strategy group director of Dell India, said.

Dell’s R&D centre in Bangalore has shifted focus from hardware design to software, management and testing, he said, adding, Dell plans to ramp up the R&D centre, which has a current strength of over 500.

The company also launched a new server – Poweredge M-series – which it claims consume up to 19 per cent less power and achieve about 25 per cent better performance per unit.

The M-series also provided lead-free configurations, delivering a “green” solution that further helps customers minimise their environmental impact, he said.

Dell reported $600 million in revenue from its business in India in 2007. Source: domain-b.com

PM to inaugurate new Bangalore airport on March 28

Published at January 23, 2008 in General and News. 0 Comments

Prime Minister Manmohan Singh will inaugurate the new international airport coming up in the suburbs of Bangalore on March 28.

“We have requested the Prime Minister to inaugurate the airport,” Karnataka Governor Rameshwar Thakur told reporters here.

The invitation was extended to Singh when Thakur met him here.

Thakur said the government has decided to link the airport in Devanhalli, which is 35 km from the city, with the high speed rail link as recommended by Delhi Metro.

“This is to solve the traffic problems. We have also requested Delhi Metro Managing Director E Sreedharan to monitor the implementation of the project,” he said. Source: economictimes.indiatimes.com

Tata Tea opens Chai Unchai outlet in Bangalore

Published at January 23, 2008 in General and News. 0 Comments

Tata Tea has forayed into the out-of-home beverage segment by unveiling their first outlet of Chai Unchai in Bangalore.

Sangeeta Talwar, executive-director, Tata Tea, said: “Chai Unchai is crafted as a retail space in the out-of home segment that connects with youth in an exciting and differentiated manner. The new adda or hangout is designed to be cool – neither a kiosk nor a parlour but with an ambience that is warm, friendly, unpretentious and fun.”

“The outlet offers both tea and non-tea beverages with a range of unique snack offerings especially designed for it. Chai Unchai is another first in the industry in the way it has been conceptualised and executed. We are confident we will make a compelling connect with young people,” she added.

Pankaj Dant, general manager (marketing & sales), Tata Tea, said: “Our research shows that this segment has a huge opportunity as consumers are constantly looking at different options for a satisfying out-of-home beverage experience. The design for the outlet has come out of a need expressed by the younger generation for a place where they can just be themselves.” Source: business-standard.com

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