Business News

ZTE wins Golden Lion Award

ZTE Corporation, provider of telecommunication equipments and network solutions, has received the ‘Leone D’Oro per la Comunicazione’ (Golden Lion for Communications) award from the Fondazione Italia Cina. The Fondazione organises the ‘China Awards’ with the aim of recognizing Italian companies that operate in China as well as Chinese organisations that operate in Italy.

Mahindra to buy up to 5.5 % shares from BT

Mahindra & Mahindra said that it has agreed to buy up to 5.5 % of Tech Mahindra from BT Group Plc over time at a market related price. BT Group owns about 30 % of Tech Mahindra. The company will also grant BT a waiver of M&M's pre-emption rights under the Shareholders' Agreement between Mahindra & Mahindra, Tech Mahindra and British Telecommunications for the balance of BT's shareholding in TM which M&M has not agreed to acquire, subject to certain conditions, M&M said in a regulatory filing. Satyam Tech Mahindra merger to take a year.

Cloud to account 5 pc of IT investments by 2015

Chief Information Officers (CIOs) believe that their IT budgets will surely grow next year leveraging on cloud and they have already started evaluating it. A recent study by Zinnov Management Consulting, titled “Cloud Opportunities in India – A CIOs Perspective”, highlights aspects like the various cloud opportunities existing in India and how the market is poised to grow in years to come. The report added that the total Cloud investment accounts to 5 % of the total IT investments in India by 2015.

LG India to launch LTE devices in Qaurter-1

LG India is confident of commercially launching LTE hand-held devices in the first quarter of 2011 to take first-mover advantage in the country. The company has already started testing of the devices built on LTE chipsets from Qualcomm.