Business News

Raj Rajaratnam, the billionaire founder of hedge fund firm Galleon Group, denied federal insider trading charges and accused the government of violating his constitutional rights with its use of wiretaps.

Syniverse Technologies Inc, a provider of technology services to wireless telecommunications companies, is in talks with major Indian wireless carriers over its number portability services.

The U.S. Federal Reserve this month asked nine banks that were part of "stress tests" conducted earlier this year to submit plans to repay money injected under the Troubled Asset Relief Program (TARP), Bloomberg said, citing a person familiar with the situation.

Prime Minister Manmohan Singh is in Washington for a state visit set to boost the burgeoning economic relationship between two countries, which had relatively marginal commercial dealings a decade ago.

Telecoms services firm Tata Communications said on Tuesday it had signed agreements with operators in the Middle East to build a new cable system for the region.

Mid-sized Indian IT services provider MphasiS Ltd reported a 34 percent rise in its quarterly net profit helped by new outsourcing contracts won mainly due to its partnership with Hewlett-Packard Co.

Rupert Murdoch has spent months complaining that Google is ruining the newspaper business, and now he wants to do something about it.

The Indian rupee strengthened on Tuesday, unwinding early losses as exporter selling of dollars on a view the currency was set to gain further outweighed the impact of a dip in the stock market.

Emerging market equities, supported by improved fundamentals and firmer commodity prices, should build on outperformance this year to thrive in 2010, while developed markets will struggle with anaemic growth.

Following are selected comments from speakers at the 2009 Reuters India Investment Summit that runs from Monday to Wednesday.

Indian conglomerate GMR Infrastructure Ltd, which has interests spanning from aviation to power, has 30 billion rupees ($650 million) to invest in existing businesses by March 2011, a top official said.

Infrastructure Leasing and Financial Services Ltd's open offer for Maytas Infra Ltd would open on Nov. 25 and close on Dec. 14, the offer manager said in an announcement.

Britain's Lloyds Banking Group Plc pushed ahead with the world's largest rights issue on Tuesday, setting a price of 37 pence per share as it taps shareholders for 13.5 billion pounds ($22.3 billion) to avoid costly state support.

World stocks cut some of their losses on Tuesday as Wall Street looked set to open higher, while the dollar gave up early gains and pushed gold to near a record high.

Raj Rajaratnam, the billionaire founder of Galleon Group, on Tuesday rejected federal insider trading charges, and accused the government of violating his constitutional rights with its use of wiretaps.

The U.S. economy grew more slowly than initially thought in the third quarter, held back by strong imports and weak investment in nonresidential structures, according to data on Tuesday that hinted at a lackluster recovery.

Ford Motor Co will launch a new car model in India every 12-15 months over the next five years, with its new Figo small car is set to drive a tripling of sales in 2010, its India head said on Tuesday.

India can absorb nearly $100 billion of dollars in capital inflows, nearly double what is expected this year, before it needs to take strong restrictive measures, one of the prime minister's top advisers said on Tuesday.

DLF Ltd, India's largest-listed real estate firm, is seeing a demand revival in the housing segment but a full-fledged recovery was still some time away, a senior official said on Tuesday.

India is set to emerge as a major white sugar importer in calendar 2010, and is expected to buy some 3 million tonnes, Jonathan Kingsman, head of the Lausanne-based Kingsman SA consultancy, said on Tuesday.