In the afternoon trades, the BSE IT index gained 24 points to 4,758.66 owing to the decrease in the rupee values as against the dollar.

In order to tame the rupee, the government had constricted foreign-borrowing rules on 7 August 2007. Now, external commercial borrowings (ECBs) over $20 million have been permissible only for foreign currency expenditure for allowable end-uses and are required to be parked abroad.

In afternoon trading, Lanco Infratech climbed up 4.6% to Rs 284.10, broadening its

Wipro Technologies signed up a definitive agreement to takeover the Nasdaq-l

New Delhi: Enterprise software company Oracle said it will make a research and development (R&D) system for its 19 centers across Asia Pacific and Japan to manufacture, check and showcase technological innovations.

The novel single system will connect 19 development and solution centres that include six Oracle Asia R&D Centres (OARDC) in India, Japan, Korea, Singapore and two in China in addition to 13 solution centres in the Asia-Pacific region.

Seattle: Amazon.com Inc.’s recorded three-fold increase in its profit for the second quarter ended June 30, 2007.

The company stated that its income boosted on the back of healthy sales of books, music and electronics internationally. The company’s stock surged 12.5 percent in after-hours trading.

The web retailer’s earnings for the three months mounted to $78 million, or 19 cents a share, as compared to $22 million, or 5 cents a share in the same period last year.

The quarterly results exceeded Wall Street’s outlooks. Analysts estimate a profit of 16 cents per share.

Hyderabad: The General Manager of Satyam Computer Services Satya Vedula was kidnapped from Secunderabad, the twin city of Hyderabad.

Mr. Vedula was abducted when he had gone to drop his son to school in Bhopalpuram area. His wife filed a complaint with the police when he didn’t come back to his home.

No more information is available with the Hyderabad police on his situation or who is after his kidnapping plan. No one is reported to have witnessed his abducting.