PSLV C24 launches India’s second navigation satellite

The Polar Satellite Launch Vehicle (PSLV) C24 was successfully launched on April 4 from Indian Space Research Organisation space station at Sriharikota, around 80 km from Chennai. It carries a satellite of the Indian Regional Navigation Satellite System (IRNSS) that weighs 1,432 kg. One of the primary applications of the indigenously developed IRNSS is terrestrial navigation.

Canada keen to improve trade with India

Canada is increasingly viewing India, especially the Eastern Region, as a favourable business destination, said Stewart Beck, High Commissioner of Canada to India. He emphasised that the country is focussed on four critical areas - food security, energy security, education and infrastructure.

India signs MoU pact with Russia to share diamond trade data

India has entered into a memorandum of understanding with Russia in order to source data on the diamond trade between two countries. The agreement was signed in Russia by the Gems and Jewellery Export Promotion Council and the Russian government-owned diamond mining firm Alrosa, which accounts for close to 25 per cent of the world output. India is pitching for long term contracts with Alrosa for the country’s cutting and polishing industry.

Sun Pharma acquires Ranbaxy from Japan’s Daiichi

Indian generic drug maker Sun Pharma has acquired Ranbaxy Laboratories from Daichi Sankyo in a US$ 4 billion transaction. The deal will create the world’s fifth largest generics player. Analysts feel that there are tremendous synergies from the deal for Sun Pharma in terms of product portfolio, markets and fixed assets.

Walmart bets Rs 1,328 crore on India after break-up with Bharti

Walmart stores has invested Rs 1,328 crore in its Indian operations. According to reports, the world’s largest retailer is looking to make a major push into the e-tailing space in India with an electronic market place model on the lines of Amazon and eBay.

Reliance Jio, RCom enter into deal to share infrastructure

Reliance Jio Infocomm (RJIL) has inked an infrastructure-sharing agreement with Reliance Communications, which is the third between the two companies. According to the agreement, RJIL will use the latter’s pan-India intra-city fibre network to launch its fourth-generation (4G) telecom services across the country.

Airtel and MTN launch money transfer service in Africa

Bharti Airtel and South Africa-based MTN Group have signed a cross-border remittance deal that will allow their respective mobile customers in Ivory Coast and Burkina Faso to transfer cash. So far, such international money transfers have been stifled by high fees, high usage of informal channels and lack of proximity to withdraw money.

Samsung to open up to 4,000 stores in small towns

Smartphone major Samsung has laid out plans to open around 3000-4000 exclusive stores across all Indian towns with population of less than 1,00,000 as part of its strategy to improve sales in low-penetration, but fast-growing markets for electronic devices.

Carlson to focus on mid-market hospitality sector

US-based Carlson Rezidor Hotel Group is looking to up the ante in the three and four-star hospitality segments in India. The hospitality chain plans to launch over 100 hotels in the country by 2015, a majority of which will be in the mid-market segment.