General Electric has revealed its plans to raise at least $15 billion in capital through stock sales to Warren Buffett's Berkshire Hathaway and the public.

According to the terms of the 5-year deal, Buffett's investment vehicle Berkshire Hathaway will buy $3 billion of GE's preferred stock at a guaranteed 10-per cent dividend that are callable by 2011. 

From latest developments, it has been revealed that State-owned NHPC, a hydroelectric power generating company, may delay its initial public offer (IPO) of 167 crore equity shares planned in October, due to market volatility. 

According to official sources, as the market conditions look uncertain for the IPO, so NHPC board has decided to review plan, before the launch. NHPC had earlier scheduled to hit the market between October 13-17. 

Capita India, the Indian arm of Capita Group, the UK’s biggest business process outsourcing (BPO) company, has acquired Prudential Process Management Services (PPMS)-India, the captive arm of Prudential UK, which has been on the block for some time.

Established in December 2003, PPMS India at present has over 1,400 employees and focuses on providing back-end support to Prudential's operations in UK. 

The latest deal is very important for Capita's £722-million contract to provide outsourcing services to Prudential UK.

Private sector lender Development Credit Bank (DCB) has introduced a new deposit scheme -- DCB Freedom 1-2-3 fixed deposit, for its customers.

The newly launched scheme will offer 10.5% rate to customers in the 375 days to three-year tenure. However, Senior citizens will receive 0.5% more rate above the card rates.
 
The bank also increased rate for 91 days deposit to 9% from 7% for deposits up to Rs 50 lakh. The new rates will come effective from October 1.

The mobile phone unit of Samsung Electronics targets to double its share of the Indian GSM mobile phone market and raise it further to 15% by June-July next year

Yesterday, Samsung Mobile has launched an 8 mega-pixel camera phone, 'Samsung Innov8' in the multimedia phone portfolio. The latest launched gizmo also has GPS connectivity, Wi-Fi and 32 GB memory along with mobile internet and gaming capabilities. The mobile handset is available at a price of Rs 45,999.

Hyderabad-Based Lanco Infratech Limited has informed that the company has bagged a Letter of Intent (LoA) from Kerala Government, for Vizhinjam international transshipment terminal port project work. 

The Project was awarded to the Consortium of LANCO and Pembinan Redzai Sdn Bhd of Malaysia after the Government of India formally granted the security clearance to the Consortium earlier this month.