NEWS UPDATE

*******************TOP NEWS****************

Revenues of Indian software industry to top $60 BillionThe Indian software and services industry is expected to grow 16 percent this fiscal and log revenues of $60 billion despite the global slowdown, a top lobby for the industry said Wednesday.
Indian data center service market to touch $1.52 Billion in 2009Indian data center service market is likely to grow at a CAGR of 18 percent to $1.52 billion by the end of 2009. The third party data center services market is expected to grow at 27 percent to become a nearly $50 Million industry by 2012.
One crore jobs likely to disappear by March
Raju owned 321 shoes, 310 belts, 1000 suits

**************************TECHNOLOGY NEWS*******************

Satyam board meeting begins, new CEO likely tomorrowA crucial Satyam board meeting is going on in Hyderabad to take decision on the appointments for top positions in the company and it is believed that the new CEO and CFO will be announced tomorrow. The board meeting is extended till Thursday.
Nivio to take on Google with nDriveTo go head-on-head with Google's much speculated GDrive storage service, Nivio will unveil nDrive a user intuitive tool that facilitates transfer of files between a local computer and the Nivio online desktop.
BlackBerry resumes bid to buy Indian-owned company
Indian IT growth to shrink to 16 percent
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******************BUSINESS NEWS*****************

Pandit's Citi pours $25.7 Billion in bailout fundsCitigroup Tuesday said it has poured $25.7 billion of its government-supplied funding into bolstering the US residential mortgage market and approved $36.5 billion in loans as part of initiatives to spur the crisis-hit economy.
ADB raises $1 Billion for 3-year global bondThe Asian Development Bank (ADB) Tuesday said it had raised $1 billion for the three-year global benchmark bond issue to return to the US dollar bond market.
India's exports to plummet by more than fifth
Wataniya Airways signs outsourcing deal with Kale

*********************VENTURE NEWS***************

TriCipher secures $12 Million in venture fundingTriCipher, the on-demand identity assurance and management company, has secured $12 million in its fourth-round of venture funding, further validating the company's innovative technology that secures and simplifies access to online applications.
Somark raises undisclosed amount in new VC funding Somark Innovations raised an undisclosed amount of new venture capital funding. The round was led by Finistere Ventures and T2 Venture Capital. Other investors include Med-Pharmex Animal Health and the St. Louis Arch Angels.

**************************OTHER NEWS*************

'India, China should enhance cooperation in plastic industry'India and China should share their experiences to develop a sustainable growth strategy for the plastic industry, Minister of State for Chemicals, Fertilisers and Mines B.K. Handique said here Tuesday.
'Hard-working students' back Oxford kabab sellerStudents at a prestigious Oxford University college have rallied around a kabab seller after college authorities forced him to move, complaining of smell.
'IIT Mandi to start session from this year'
Angry commuters block railway traffic in Mumbai