India’s Aurobindo Pharma has notified that it has secured tentative approval from US Food and Drug Administration (USFDA) for marketing generic lopinavir/ritonavir tablets.

It should be noted that the drug are generic equivalent of Abbott Laboratories' (ABT) Kaletra tablets and falls under anti-retrovial (ARV) segment.

The drugs are prescribed for the treatment of HIV-1 infection in adults and children above the age of two years. The tablets are used together with other anti-retroviral agents.

A top representative said that steel major Tata Steel is confident of saving 600 million pounds ($831 million) between October 2008 and March 2009 from the operations of its UK-subsidiary, Corus.

Tata Steel bought the Anglo-Dutch company Corus in October 2006.

The company had launched a cost-cutting programme in 2008 in order to save this amount to bridge over the economic disaster.

Norwegian bank DnB NOR on Tuesday announced that it has introduced a representative office in Mumbai, Maharashtra.

The Mumbai division was formally opened by Rune Bjerke, DnB NOR President and CEO, at a ceremonial occasion attended by the Norwegian Ambassador to India, Her Excellency Ms Ann Ollestad.

The bank said that it opened an office in Mumbai to cater to its strong base of ship owning community plus providing services to domestic companies that have sound presence in the Indian market.

Aditya Birla Nuvo, a diversified conglomerate, has notified that it has completed the acquisition of 76 per cent stake in the retail broking firm of the Apollo Hospitals Group.

The group bought 56 per cent in Apollo Sindhoori Capital Investment from the promoters and another 20 per cent through an open offer.

The acquired company is a leading player in the financial services sector with over 10 years of experience in the share broking business. The firm's principal activities are providing financial services, stock broking, commodity broking and related activities.

Subex Limited, a global provider of operations support system (OSS) solutions, has signed a reseller agreement with JSC "Company TransTeleKom'' (TTK), one of Russia's top three fixed network providers.

Under the deal, TTK and Subex would jointly provide managed services covering fraud management and revenue assurance to growing operators in Russia.

It may be noted that Nikira Fraud Management System and Moneta Revenue Assurance System, are key components of the Subex ROC - Revenue Operations Center.

Sodexho, multinational food service major, has bought a majority stake in Radhakrishna Hospitality Services for Rs 4 billion.

The company is likely to make an official declaration about the contract later in the day.

Radhakrishna Hospitality is the only organized player in Indian food service space.

In 2008, the company bought the equity stake possessed by Compass, a US-based food service firm, in a joint venture and is involved in launching its international catering services.

The company had earlier tried to incorporate financial investors but couldn't do so because of problems with prospective investors over pricing.