US-based CA Inc, the IT management software company, has decided to hire 1,000 professionals in India over the next 3-5 years.

According to reports, the company will employ an additional 1,000 people for its Hyderabad R&D centre, taking the total strength to 2,600 over the next 3-5 years.

The Hyderabad facility currently houses about 30 per cent of the company's global R&D headcount.

Invensys Process Systems (IPS), a global technology, software and consulting firm, has entered into a five-year contract with Petrobras, to provide comprehensive safety services and solutions.

Under the arrangement, the company will implement its Triconex safety and critical controls and Avantis asset management technology to upgrade and modernize 11 Petrobras refining facilities throughout Brazil. The contract is valued at $50 million.

Mastek, a leading Indian IT solution provider with global operation, has informed that its wholly-owned US subsidiary MajescoMastek has entered into a partnership agreement with Flexi Software, a provider of best-of-breed financial accounting software, to deliver end-to-end integrated accounting solutions for insurance companies.

According to Business Standard's Wednesday report, expansion is on the cards for HMSI - Honda Motorcycle and Scooter India. The 100 per cent subsidiary of the Japanese Honda Motor Corporation, the HMSI intends spending Rs 300 crore in the next three-year period.

Citing the rather poor performance of the Indian heavy truck segment, the Hero Group has decided to pull out of its joint venture with Daimler! With the Hero Group quitting the collaboration for making commercial vehicles in India, Daimler will buy back Hero's 40 percent stake - worth 16 million euros - in Daimler Hero Motor Corporation (DHMC).

While Daimler says the Hero Group back-out was due to financial constraints, the Chairman of Hero Corporate Services, Sunil Kant Munjal, cited plunging commercial vehicle sales in India - which dropped 22 percent in FY 2009 - as the reason.

As per estimations by one of its lenders in February 2009, Ranbaxy Laboratories may be sitting on mark-to-market (MTM) losses of more than Rs 25 billion on foreign currency derivatives transactions signed up with a range of banking institutions.

With this lender alone, Ranbaxy is suffering an MTM loss of Rs 6 billion on the derivatives contracts that it signed during April-May 2008.

But, Ranbaxy is not the only company that has been hit by forex derivatives losses. The losses have seen across the segments.