Business, Finance & Stock Market updates for July 17, 2007

Reliance Communications to spend 4.95 bln dollars in 07/08
Reliance Communications today announced its plans to spend two hundred billion rupees (4.95 billion US dollars) in 2007/08. ANI

Ford launches diesel version of Fusion
Automaker Ford India on Tuesday launched the diesel variant of its mid-size vehicle Ford Fusion. ANI

Chidambaram confident of meeting 2007-08 direct tax target
Finance Minister Palaniappan Chidambaram said on Tuesday that India would achieve its direct tax receipts target for the current fiscal year, thanks largely to more people paying taxes, enabling the government to further trim its fiscal deficit. ANI

Two Indian firms banned from doing business with World Bank
India-based Nestor Pharmaceuticals Ltd. and Pure Pharma Ltd. have been barred from doing business with the World Bank for collusive practices involving a reproductive and child health project in the country. ANI

UK begins sale of oversized mobiles for those who loath small hi-tech gizmos
Britains first mobile phone designed for people who loathe them went on sale on Monday. ANI

News Corp. ready to pay five billion dollars for Dow Jones
Media baron Rupert Murdochs News Corp appeared closer than ever on Monday night to landing Dow Jones and the Wall Street Journal. ANI

Coffee research institute to announce new variety of coffee by December 15
The Balehonnur-based Central Coffee Research Institute (CCRI) has said that it will announce a new brand of coffee on the market in December 2007. ANI

Dairy farmers peturbed over rising milk prices, Reliance Retail moves into dairy sector
The price of milk may have gone up to around Rs 3 per litre across India in the last year, but dairy farmers are yet to benefit from it. ANI

Tanzania, Uganda are the safest havens for business in Africa
Tanzania and Uganda are safer places for investment unlike the common perception, and Asian private companies should invest more in African nations for over all business development, said Masato Tsukiji, Project Manager, Asia Africa Investment Technology Centre (AAITPC) at a seminar on Investment Opportunities in Tanzania and Uganda, organised by the Confederation of Indian Industry (CII) and AAITPC here on Tuesday. ANI

Plug and Play Smart TEDS Sensors Find Poor Customer Acceptance
Business Wire India

Asia's Mega-Wealthy Private Banking Clients Vote Citi Private Bank Best in Asia
Business Wire India

Sify to Report First Quarter 2007 Fiscal Year Financial Results on Monday, July 23, 2007
Business Wire India

Info Edge Recognized as Tomorrow's Giant
Business Wire India

HDFC Announces the Launch of 'Asset Plus'
Business Wire India

NDTV Financial Results: Q1, FY 07- 08
Business Wire India

White House Fellows Visit Convergys' Gurgaon Facility
Business Wire India

Western Union and Eurogiro Extend Cooperative Agreement
Business Wire India

Global Environment Fund Completes Sale of Forest Products Company
Business Wire India

CVBT Announces Positive Pre-Clinical Results for Protein-Based Drug Candidate to Treat Osteoporosis
Business Wire India

Marsh Ranked Number One Broker for 36th Consecutive Year
Business Wire India

Secondary Endpoints of Phase II/III Study Confirm Clear Benefits from Treatment With removab(R) for Patients with Malignant Ascites
Business Wire India

India needs thousands of Instructional Designers, if our share in Off-shore e-learning business to rise from present level of US $ 500 Million
Tenable and Philadelphia University join hands to offer India's first Certificate Program in Instructional Design in E-Learning. Solus Media

Indiagames to launch PopCap's casual games on its Games on Demand Service
Indiagames Ltd, India's benchmark mobile and online games company has now partnered with the leading online casual gaming company PopCap Games® to launch PopCap's catalogue of games on the Indiagames "Games on Demand" (GoD) Service. Equator Communications

KPIT Cummins continues the growth momentum
Revenue growth at 32.3% y-o-y & 3.83% sequential; Jumpstarts F&A BPO business through partnership with Cummins with a 55+M USD deal AdFactors PR

KPIT Cummins to partner with Cummins Inc.
Partnership to provide KPIT Cummins a jumpstart in Finance and Accounting Business Process Outsourcing (BPO) for Manufacturing Vertical AdFactors PR