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Andhra Pradesh Chief Minister Y S Rajasekhara Reddy on Monday invited Chinese businesses to invest in the state, especially in the food-processing sector and also sought Chinese cloud-seeding technology to ease water scarcity.

Observing that steel prices will continue to rise in view of its demand, London-based steel magnate Lakshmi Mittal said his company will make an investment of over $5 billion in the next five years in the sector.

Internet networking company Cisco Systems on Monday announced the expansion of its IP converged network to IIT Kharagpur.

Facing the gigantic problem of over three lakh defunct companies, the government will launch a new 'simplified exit scheme 2005', which will become operational from February 1.

Fiscal deficit fell marginally by 2.3 per cent to Rs 90,239 crore (Rs 902. 39 billion) in the first nine months of the financial year 2004-05 mainly due to higher tax mop-up.

Oil & Natural Gas Corporation has posted a net profit of Rs 34933.20 million (Rs 3493.32 crore) for the quarter ended December 31, 2004 as compared to Rs 17185.30 million (Rs 1718.5 crore) for the quarter ended December 31, 2003.

Matthew J Szulik, Chairman, Chief Executive Officer and President, Red Hat will visit India from February 7 to February 12.

India's leading housing finance company HDFC on Monday said that it would offer special rates to developers selling on carpet area basis instead of super built-up area.

Implementation of value-added tax will bring down retail prices and may add Rs 75,000 crore (Rs 750 billion) per annum to government revenue, according to industry body Assocham.

The Delhi High Court on Monday deferred to next week hearing on a petition filed by telecom regulator TRAI challenging TDSAT's order to go ahead with the adjudication of regulations on the new Access Deficit Charge levy regime.

ITC has refused to comment on the ordinance to amend the Central Excise Act, following which the company might have to pay Rs 803.78 crore (Rs 8.03 billion) to the excise department.

Lee Enterprises has struck a deal to buy out Pulitzer Inc for $64 a share in a deal worth $1.46 billion, making it America's fourth-largest newspaper publisher.

US-based MyITgroup on Monday opened its India offshore delivery centre with initial plans to hire over 500 SAP experts and said it will tap the huge base of SAP ERP installations in the country.

The US Securities and Exchange Commission has cleared software major Infosys Technologies Ltd's proposed sponsored secondary American depositary receipts offering.

In a move that is seen as a major setback to tobacco major ITC, the government has armed itself through an ordinance with powers to modify past excise rules in an apparent attempt to recover arrears of Rs 803 crore.

Bharti Televentures on Monday said Bharti Infotel, the wholly owned subsidiary of the company, is considering acquisition of VSAT and Internet business.

With the leather exports recording a 17 per cent growth in the last six months, the 'International Leather Fashion Show 2005' to start on February 1 in Chennai expects to attract more international buyers.