LG and Alltel Jointly Launch ‘LG Swift’

America’s largest network, Alltel Wireless and LG have jointly rolled out a fast and easy-to-use, LG Swift phone in the US market. With it unparalleled features, the phone stands apart from others.

The stylish LG Swift comes up with FasTap layouts as hot keys which integrate together with a regular phone key pad with raised buttons for each of the alphabet that provides the same functionality as the QWERTY keyboard offers. With the unique feature of the FasTap technology, a user can have an instant access to different functions like emails, navigations, music, games and various other functions without interfering with the main menu.

FasTap technology with FasTap Press-to-Experience keys offers one touch access to services and applications like the Alltel Navigation services, Shop and image library.

Announcing the launch, Brian Ullem (Vice-President, device strategy, Alltel Wireless) said, “The LG Swift is an innovative phone that helps our customers explore and enjoy Alltel’s most popular data features.”

“The introduction of FastapPress-to-Experience keys enables us to delivers information andentertainment to our customers faster than ever before”, added Ullem.

Touted to be a multimedia phone, the LG Swift comes with 1.3 megapixel camera with camcorder, multi-shot and video recording functionalities. Besides this, the phone also brings the following: a MicroSDHC slot, music button, Bluetooth, external music buttons, one touch speakerphone and media player. The music lovers can enjoy the music with dual speakers with stereo sound system using the background music mode or the Bluetooth headset.

The phone offers a talktime of 3 hours and standup time is up to 140 hours.

Available in red and blue, LG Swift is priced at $49.99 after a $50 mail-in debate. This discounted price is for new customers on two year service agreements, as well as for the existing customers on qualifying rate plans.

Infosys to carry out acquisitions in Europe, Japan

Second largest software and services exporter from India, Infosys Technologies is looking for acquisitions in Europe and Japan. It may acquire some consulting, SAP implementation and BPO firms with deals worth $600-700 million.

CEO of Infosys Technologies, Kris Gopalakrishnan said at the India Economic Summit, that the company would go for its expansion plans despite global slowdown and credit crunch. He termed China, Mexico and Eastern Europe as favorite destinations of the company and remarked that the company intends to invest in these countries in coming times.

Kris said that the company is unlikely to perform well in December quarter due to the global slow down and its revenue may decrease following depreciation of Rupee against Dollar. The company has substantial exposure in the US market and its 40 per cent revenue comes from non-US markets including European countries.

Infosys Technologies would recruit 25,000 employees in the current fiscal despite slowdown in IT segment. It would use this opportunity to train their employees and increase R & D activities. The company will adopt cost cutting measures such as cutting discretionary spending and entertainment activities.

LG 18.5-inch W1941S LCD Monitor Launched In India

Technology giant LG has rolled out its latest LCD Monitor, named ‘LG W1941S’ in the Indian market.

Aimed at office and home users, the newly launched LCD monitor sports a 18.5-inch screen, 1366 x 768 pixels of resolution, 16:9 aspect ratio, 8000:1 DFC, 5 ms response time and viewing angle of 160/160.

The plug-and-play LCD from LG uses less power of 21W as compared to other LCD monitors that consume about 40W.

The W1941S comes with F-engine technology to offer microscopic picture quality.

Mr. R. Manikandan, Business Group Head, DDS, LGEIL, said, “With this new launch, we reiterate, LG as a company is committed to providing the best-of-class products having the perfect harmony of technology and aesthetics. This widescreen LCD monitor comes with a unique feature for watching pictures and movies originally recorded in 4:3 aspect ratio, undistorted at a press of a button. The f-engine technology embedded in this monitor helps to achieve microscopic picture clarity..

The monitor also has sleep mode (power save option), sRGB, DDC/CI and the aspect ratio control of 4:3 in wide, full, intelligent auto for making resolution adjustment automatically.

India’s billionaires lose a lot due to financial crisis

The ongoing global financial crisis has adversely impacted the billionaires of India as per the recent 40 billionaires list compiled by prestigious Forbes magazine. Net worth of Indian billionaires was $351 billion a year ago and now it has declined to $139 billion with loss of $212 billion.

The volatile condition of Indian stock market, depreciation of Rupee against US dollar and instability of demand supply chain, caused huge losses to Indian billionaires. Stock prices fell nearly 50 percent from January while Rupee depreciated nearly 24 per cent against US dollar, which shaved off almost 60 per cent wealth of the richest Indians.

Meanwhile, Mr Mukesh Ambani of Reliance Industries, has become the richest Indian in the world. He displaced steel giant and chairman of London-based ArcelorMittal, L N Mittal to second position. Mr. Mittal suffered huge loss of USD 30.5 billion and secured second slot in Forbes list.

Malvinder and Shivinder Singh are only billionaires who added to their wealth. They recently sold their 34 per cent stock in Pharmaceutical major Ranbaxy Laboratories to Japanese drug maker, Diacchi.

Mumbai has the highest number, at eight billionaires in top 20, while Delhi got second place with its billionaires Sunil Mittal, Kushal Pal Singh, Ms Savitri Jindal, Malvinder and Shivinder Singh, Shiv Nadar and Indu Jain.

Inflation rate eases to 8.98 percent

he wholesale price index based inflation rate, witnessed steep decline in the week ending November 1. It currently stands at 8.98 percent as compared to 10.72 percent in the previous week. Leading economists and market experts, earlier forecasted single digit inflation only by next year.

The single digit inflation rate brings great respite to the central government as it is going through polls in states assemblies and general elections are also due next year.

Reserve Bank of India may take more monetary steps to ease liquidity and the recovery of normal annual growth rate. It has earlier taken many steps including revision of cash reserve ratio, SLR and Repo rate to ensure smooth and adequate money supply in the Indian financial system.

The recent steep fall in inflation rate is mainly due to the slump in the prices of various petroleum-based fuels such as naphtha, aviation turbine fuel (ATF), furnace oil and light diesel oil. Crude oil rate currently stands at $56-60 a barrel from $147 a barrel in July this year.

Meanwhile, inflation for 30 essential commodities increased to 7.74 per cent on a weekly basis from 7.51 per cent. The manufactured product index fell by 0.7 per cent following decline in the prices of edible oil. Prices of vegetables, fruits and tea also declined marginally in the reporting week.

Sharp launches 108 inch LCD in India

Electronics major Sharp has launched the world's largest 108 inch Liquid Crystal Display (LCD) screen in Indian market.

This newly launched device christened ‘LB-1085’ costing Rs 97 lakh, is meant for hospitals, security purposes and High Networth Individuals.

Explaining the difference between Displays and LCD TVs, Mr Sunil Sinha Sinha, managing director of Sharp business system limited stated, “Displays are designed for 24-hour usage whereas LCD TVs are meant for intermittent usage.”

LB-1085, with 7.8 feet hight , is bundled with an ASV low-reflection black TFT LCD monitor, a screen-size, which roughly equals four 52-inch monitors and claims to be of a low-power consumption design aimed at reducing CO2 emissions.

OVL, IRP Red Sea Discover Oil In Egypt

The ONGC Videsh (OVL), part of Oil and Natural Gas Corporation (ONGC) India, along with partner IRP Red Sea Inc have discovered oil in an offshore block in Egypt for the second time. The company had discovered oil in April 2007 off the North Ramadan Concession in Gulf of Suez.

Although the company did not reveal the size of the oil and gas reserves in the Egypt field, they did say that the flow rate of both oil and gas from the latest discovery is lower than the first discovery.

According to the statement, the find in the well North Ramadan-2 (NR-2), the second oil discovery in the block, is located on a separate fault block north of the first oil discovery NR-1A, which produced about 3,000 barrels of oil a day and 15 million standard cubic feet a day of gas during the testing phase. OVL holds 70 per cent in the North Ramadan Concession, while IPR has the remaining 30 per cent. OVL has participating interest in 35 projects in 17 countries across the world. It is currently producing oil and gas from two blocks in Sudan, one each in Vietnam, Syria, Russia and Colombia. It discovered oil in one block in Brazil, which is currently being developed with production expected to begin in 2009-10.

Oil and gas have also been discovered in two blocks in Myanmar, two in Egypt and one in Iran, where the company is studying if it will be commercially viable to produce the oil and gas. The remaining projects are in exploration phase.

This news has coincided with the acquisition of the U.K.-based Imperial Energy for $2.59 billion by the OVL.