Business News In Brief

Asian stocks plunge on fears of global recession
A meltdown in confidence strangled Asian stock markets Wednesday on accelerating fears that the widening financial crisis could spawn a global recession.

BSE Sensex falls below 11,000 first time since August 2006
The BSE Sensex fell below 11,000 mark for the first time since August 2006. The stocks crashed by 827 points in the first hour of trading on Wednesday.

Tata Consultancy Services to Acquire Citigroup Global Services for $505 million
The acquisition broadens TCS's portfolio of end-to-end IT and BPO services in the global Banking and Financial Services (BFS) sector.

India sees huge jump in FDI inflows despite global woes
Amidst global financial crisis, India's foreign direct investment saw an impressive jump of 124 per cent in the first five months of the current fiscal, while the FDI flows in August went up by huge 180 per cent.

Vodafone Launches The New Exclusive Blackberry® Storm
Vodafone Group today announces the launch of the BlackBerry Storm smartphone from Research In Motion.

Rupee hits 6-yr low
Rupee has hit a low of Rs 48.46 per dollar.