The South Korean steel giant, Posco is committed to complete Posco's Orissa project, despite global financial crisis. The director of Posco-India project, Mr Sung said that the global slowdown would not affect the project and company would go for Rs 51,000 crore projects in Orissa. He also reviewed the work of the project during a meeting called by the chief secretary Mr Ajit Tripathy.

Public sector telecom operator BSNL has launched its Web Conferencing that would permit audio, video and image transfer facility to its broadband customers.

Police commissioner Shankar Bidari inaugurated the BSNL Web Conferencing service in Bangalore on Monday.

While explaining the salient features of Web Conferencing, BSNL Karnataka Principal General Manager Subendu Ghosh stated that audio, video and image transfer could be done simultaneously through this new facility.

After the decision of Indian steel giant Steel Authority of India Limited to cut steel prices, other steel companies have started to slash prices. JSW Steel took the initiative and reduced the prices of HR coils by Rs 5,500 a tonne. The company had already reduced steel prices in October.

It has reduced steel prices by 25-30 percent. The company said in a statement that it would go for price reduction according to the prices in the international market. The recent reduction in steel prices would check the import of steel and it would be available in domestic market at reasonable prices.

Munich - German electronics company Siemens AG Tuesday finalized plans to quit computer producer Fujitsu Siemens Computers.

Joint venture partner Fujitsu will take over Siemens' 50-per-cent share for a price of 450 million euros (567 million dollars), the company formally announced.

Fujitsu Siemens Computers was founded in 1999 to integrate the firms9 personal computer and server businesses in Europe. The joint-venture contract was due to run out next year.

ABG Shipyard, the largest private yard in India, has secured an order worth Rs 2,377.41 crore (480 million US dollar) from Essar Oilfields Services Ltd, Mauritius for building two rigs.

These Rigs will have the operating capacity of up to 350 ft. Water Depth and a drilling depth capacity of 30,000 ft. In addition, these rigs are designed for year - round Gulf of Mexico and 50-year return period North Sea environment in accordance with American Bureau of Shipping (ABS) assessment criteria.