Oberoi Mumbai is grand again

On Wednesday, the Oberoi Hotel, one of two five-star hotel complexes attacked by 10 Pakistan-based gunmen in November 2008, welcomed its first guests after a comprehensive $45 million reconstruction.

The lobby, which had been ravaged by gunshots and grenade blasts during the three-day siege, has been rebuilt with milky white marble from the Greek island of Thassos.

The already luxurious guestroom baths have been upgraded to include flatscreen televisions. Dozens of security guards watch the premises. And the Tiffin restaurant, where many guests and employees were killed in the terrorist attack, is now called Fenix.

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Pak minister for Indo-Pak trade ties

Firdous Aashiq Awan, Pakistan’s minister for population welfare, has said India can benefit immensely by enhancing trade ties with Pakistan.

The minister, who is leading a 30-member trade delegation to India, cited reduced transport, distribution and procurement costs besides Pakistan serving as the gateway to central Asian countries as reasons to boost Indian trade interests. She said Indo-Pak trade ties would yield good dividends to both the sides.

“India is losing major revenue by selling its products in Pakistan through Dubai and other Asian countries.

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Philips outsources TV biz to Videocon for 5 years

Consumer electronics giant Philips on Monday said it has outsourced its entire TV business, including manufacturing, distribution and selling, to Videocon industries.

"The brand licensing agreement under which Videocon assumes responsibility for the sourcing, distribution, marketing and sales of all Philips' consumer television activities in India is aimed at bringing the TV business back into profitability from 2010 onwards," Philips Electronics India managing director and CEO Murali Sivaraman said.

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26 million Indians dial 3G phones for 2G service

Twenty six million of India's 563 million mobile phone subscribers have handsets that are 3G enabled, according to the Indian Cellular Association. That's near about the number of Indians who hold credit cards, and a little over half the number who pay income-tax.

Indians who wield 3G handsets outnumber the entire population of Australia by about five million, Belgium by 16 million, Denmark by 21 million, the Netherlands by 10 million and Switzerland by 19 million.

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Tea import from Sri Lanka rises by 90 per cent in 2009-10

India's tea imports from Sri Lanka grew by almost 90 per cent in the first ten months of 2009-10. Major chunk of tea imported is for re-exports to third country markets in Western Europe and US. This is done after processing, treatment, blending and packaging in India.

India imports mainly orthodox tea, as there is high demand for this variety in western markets.

Though India is one of the largest producers of tea, it is CTC (crush, tear, curl) variety but have low demand in other countries. India's Assam tea and Darjeeling tea are mainly orthodox tea.

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Hundreds die in China quake

A powerful earthquake in western China killed at least 400 people, injured 10,000 and left many others buried under debris on Wednesday, Chinese state media reported.

The quake, which struck at 7:49 am in Qinghai province, bordering Tibet, had a magnitude of 7.1, according to China's earthquake agency.

The China earthquake networks administration said the quake struck in Yushu County, a remote and mountainous area sparsely populated by farmers and herdsmen, most of them ethnic Tibetans.

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Strong rupee, higher tax hit Infosys in fourth quarter

For 2010-11, Infosys sees revenue in the range of Rs 24,796 crore to Rs 25,239 crore, a year-on-year growth of 9 per cent and 11 per cent, respectively, at the two points. EPS is expected to be in the range of Rs 106.82 and Rs 111.28, a year-on- year decline of 2 per cent and a growth of 2.1 per cent, at the two points.

For the current quarter, the first of 2010-11, Infosys expects revenue between Rs 5,919 crore and Rs 5,963 crore (year-on-year increase of 8.2 per cent and 9 per cent).

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