Tata Communications partners with Google to provide VAS in India

Tata Communications Ltd said it has partnered with Internet search services provider Google to offer web-based business connectivity tools to businesses across India.

Google India have plans to combine their global resources to offer a portfolio of web-based, collaborative business connectivity tools that provide email, instant messaging, calendar functionality, video and office presentation tools for business’ across India.

The portfolio of business tools, powered by Google Apps, includes email, instant messaging, calendar functionality, video and office presentation. It will bring value-added applications to Indian enterprises while offering localised pricing, billing and support, it said in a release.

On Thursday, Tata Communications shares closed 0.2% down at Rs288 on the Bombay Stock Exchange, while the Sensex ended at 0.2% up at 17,909 points.

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Colgate Palmolive Q1 net profit rises to Rs122 crore

Mumbai-based Colgate Palmolive (India) Ltd registered a net profit of Rs122 crore for the quarter ended 30 June 2010 whereas the same was at Rs102.8 crore for the quarter ended 30 June 2009. The total revenues of the company increased to Rs555.11 crore for the quarter ended 30 June 2010 from Rs493.98 crore for the quarter ended 30 June 2009.

On Thursday, Colgate Palmolive shares closed 0.3% down at Rs844 on the Bombay Stock Exchange, while the Sensex ended at 0.16% up at 17,909 points.

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PSU oil cos reduce ATF prices by over 3%

IOC and its sister PSU fuel retailers, HPCL and BPCL, revise jet fuel prices on the 1st and the 16th of every month, based on the average global oil price in the previous fortnight

State-owned oil marketing companies today cut aviation turbine fuel (ATF) prices by over 3% on back of easing international oil rates, reports PTI.

ATF rates in Delhi were cut by Rs1,390 per kilolitre (kl), or 3.3%, to Rs40,099 per kl with effect from midnight tonight, said an official of Indian Oil Corporation (IOC), the nation's largest fuel retailer.

The reduction in price negates the 3.2% or Rs1,297 per kl, hike in prices that oil firms had announced from 1st July.

The basket of crude oil India buys averaged $72.80 a barrel in the first fortnight of July, based on which today's cut in ATF price was decided, against $75.74 average of second half of June, he said.

Prices of ATF, which makes up for roughly 40% of the operating cost of an airline, have risen on eight instances since March, with exception of two occasions — one of 1st June and the other today when rates were cut down.

Jet fuel in Delhi was priced at Rs37,982.22 per kl in the second half of February before international oil rates started firming up resulting in increase in domestic rates.

Today's cut in fuel rates will ease the burden on Indian carriers, but no comments could immediately be obtained from airlines on the impact on passenger fares.

In Mumbai, the price of ATF was cut by Rs1,448 to Rs41,361 per kl.

IOC and its sister PSU fuel retailers, Hindustan Petroleum Corporation (HPCL) and Bharat Petroleum Corporation (BPCL), revise jet fuel prices on the 1st and the 16th of every month, based on the average global oil price in the previous fortnight.

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