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Asian stocks fall on stimulus concern, UBS loss
Asian stocks fell, led by banks and developers, as UBS reported a wider-than-estimated loss amid investor concern that the withdrawal of stimulus measures will cause the global recovery to falter.

'NTPC claim has no bearing on gas dispute'
The Union government has told the Supreme Court that the rights and obligations of NTPC and RIL could not be regarded as similar in status to the private arrangement between RIL and RNRL. In an affidavit filed yesterday in the appeals by the Ambani brothers on their gas dispute, the government stressed that NTPC “is not only a public sector undertaking but the process involved for price determination in the case of NTPC gas was by international competitive bidding.”

News of the day

IBM sets up centres in colleges
IBM has established Centres of Excellence (CoEs) in 10 colleges in Karnataka to create a platform for the development of software skills among students. The CoEs will teach students skillsets on DB2, WebSphere, Lotus, Rational and Tivoli - as well as help them develop tech business solutions.
Small Business

Hinduja Group firm signs MoU with Dassault Systemes

Hinduja Group firm Defiance Tech today signed a Memorandum of Understanding (MoU) with Dassault Systemes to market the Euronext-listed company"s solutions across Indian automotive, industrial and aerospace and defence sectors. - Ashok Leyland sales up 57% in Oct - Gulf Oil"s rights issue likely in Dec - Ashok Leyland"s Pantnagar plant to go onstream soon - Ashok Leyland"s Pantnagar plant to go on floor in few months - Gulf Oil enters into agreement with Biocon to sell pharma biz - Ashok Leyland may hike commercial vehicle prices by April "We are a software provider and Defiance Tech has the necessary expertise being a member of a large conglomerate to cater to the manufacturing sector," Dassault Systemes" President and Chief Executive Officer Bernard Charles said signing the agreement here. Dassault Systemes provides product life cycle management (PLM) software and solutions and provide a 3D vision of the entire life cycle of products from conception to maintenance and recycling. "The manufacturing industry is really changing the way they were and it is only going to accelerate. It is on a constant look out for a one-stop solution shop that can help build a truly collaborative environment that is flexible and precise," Charles said. Dassault Systemes has more than 1,000 clients and 1,300 employees in India. The company also plans to enter into tie-ups with service providers and with firms that can expand its reach, Dassault Systemes India"s President and Managing Director Andy Kalambi said.


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