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Profitability is the sovereign criterion of the enterprise. ............................................................................................ International News............Dorothy Porter Facts +Aid to Dubai shrinks by $5-b +Casio was established in April 1946 by Tadao Kashio. His first major product was yubiwa pipe, a finger ring that could hold a cigarette, allowing the wearer to smoke, while leaving their hands free. The invention was a success and in 1949, Kashio used the profits from the yubiwa pipe to develop electronics calculators. In 1957, Casio released the world's first all-electric compact calculator. +Japan's Olympus Corp, specialising in optics and imaging, was founded in 1919 and takes its name from Mount Olympus, the home of the gods in Greek mythology. One of its first innovations was the half-frame PEN Camera, launched in 1959. Half-frame format means it takes 72 pictures on a standard 36 exposure roll of films. +Intel was founded on 18th July 1968 as NM Electronics. +In England, the queen and the church of England are the 2 biggest landowners. +Nikon Corporation was founded in 1917 as Nikon. The company was renamed to Nikon in 1988 after its famous camera. The name Nikon was coined from Nippon Kogaku (Japan Optical) incitation of Zeiss Ikon. Nikon is one of the many companies of the Mitsuibishi group. ....................................................................................................................... Apple net rises 90 per cent in Q2 Technology giant Apple has register a 90 per cent jump in net profit at $3 billion in the first three months of 2010, helped by sales of iPhone and Mak computers.
ADB to revise lending rates in July The Asian Development Bank announced that its lending rates will go up by 0.1 per cent from July 1 for all sovereign borrowers to 0.3 per cent over the Libor, an international reference rate for banks.
Van Heusen to buy Tommy Hilfiger for $3 bn Philips-Van Huesen Corp agreed to buy clothing maker Tommy Hilfiger BV from Private-equity firm Apax Partners for €2.2 billion, adding the brand to its Calvin Klein and Izod lines. Apax will get €1.92 billion in cash and £276 million worth of Philips-Van Heusen common stock. Apax bought Tommy Hilfiger in 2006 for about $1.6 billion.
Fortis to fund deal via loan, internal funds Fortis Healthcare will take a short term loan to part finance its acquisition of 23.9% stake in Singapore-based Parkway Holdings. The company will also use money raised through recent rights issue for funding of the deal. Fortis has acquired 23.9% stake in Parkway Holdings from US fund TPG for $685 million.
BNP Paribas will pay €500 mn BNP Paribas will pay €500 million in bonuses to 4000 traders and the same amount again if the company achieves its goals for 2010, said MD Baudouin Prot.
Australia's ANZ gets India banking licence Australia and New Zealand Banking Group has received in-principle approval to set up a branch in India, the second-fastest growing major economy, the bank said.
China's Unicom bids for Nitel China Unicom and its biding partners may buy 75% of Nigerian Telecommunications for $2.5 billion to enter the African market.
J P Morgan to buy Sempra Assets J P Morgan Chase has agreed to buy the non-US assets of commodities joint venture RBS Sempra from Britain's Royal Bank of Scotland and Sempra Energy for around $1.7 billion in cash.
Jal close to deal with Delta Japan Airlines, facing possible bankruptcy recently, may drop partners American Airlines for a accord with Delta Airlines.
China world's No 1 exporter China, which exported goods worth $521.7 billion in the first half of 2009, has taken over as the world's biggest exporter from Germany.
Dell to buy Perot for $3.9 bn Dell, the second biggest maker of PCs has agreed to buy Perot Systems for $3.9 billion, its biggest purchase ever, to compete with IBM and hewlett-Packard.
Google Inc plans operating system Google Inc is planning a direct attack on Microsoft Corp's core business by taking on the software giant's globally dominant Windows operating system for personal computers.
The global economy The global economy is starting to pull out of recession but recovery will be sluggish and government policies need to remain supportive, the International Monetary Fund said recently.
Aegis buys Aussie BPO for 200 crore Essar group-owned BPO Aegis has acquired Australia-based UCMS group for $40.7 million (Rs 200 crore). Aegis' Australian affiliate, Agies BPO services Australia will pay UCMS shareholders $0.68 per share.
World's fastest Supercomputer The BlueGene/L supercomputer at Lawerence Livermore National Laboratory is the world's fastest supercomputer and will be used to ensure US nuclear weapons stockpile is safe and reliable without testing. The BlueGene/L computer made by IBM can perform a record of 280.6 trillion operation per second. .....................................................................................................................
India ranks 4th among global economies Purchase Power Parity puts it in Super League
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