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NASA launches space shuttle Atlantis
The shuttle Atlantis has blasted off carrying vital supplies and spare parts for the International Space Station to push its life past the 2010 retirement of the aging shuttle fleet.

China's top 500 firms outperform US rivals in 2008: survey
China"s top 500 companies outperformed their US counterparts for the first time last year, a survey conducted by a business group has revealed, as the financial crisis wreaked havoc in the United States.

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Biscuit makers say they may be forced to raise prices
Rising sugar prices are pushing biscuit manufacturers to plan a rise in their prices. The industry says commodity prices have reached a level beyond which it would be impossible to sustain the pressure and there is no other choice but to pass some of it on to consumers.
Small Business

Bharti Airtel Q3 net up marginally at Rs 2,209 cr

Telecom service provider Bharti Airtel today reported a low net profit growth of 2.3 per cent at Rs 2,209.80 crore for the quarter ending December 31, 2009, weighed down heavily by low tariff and severe competition. - Bharti Airtel planning to list a tower unit - Bharti-Limelight link up to deliver multimedia services - Nagarjuna Fert net up three-fold to Rs 12 cr - Kotak Mahindra Bank Q3 PAT zooms 153% to Rs 331 cr - Bharti Airtel partners Limelight for content delivery network - ONGC profit rises 23% to Rs 3,053 cr in Q3 Total revenue, as per the US accounting rules, rose over one per cent to Rs 9,772.20 crore during the December quarter, from Rs 9,633.4 crore in the corresponding period last year, Bharti Airtel said in a statement. "In a hyper competitive situation like (the one) we are witnessing now in the industry, we have retained our revenue market share at 32 per cent and have a very strong EBITDA margin at 40 per cent, which shows our strong performance," Bharti Airtel Group CEO Manoj Kohli told reporters. He said that the trend of adding 15-16 million subscriber a month is not adding more revenue to the industry as the revenue earnings customers are less. "Real customers addition will be in single digit. We do not see customers holding multiple SIM cards adding to revenue," he said. In a weak broader market shares of Bharti gained 2.37 per cent over last close to trade at Rs 329.80 on the Bombay Stock Exchange. Kohli added that Airtel is expecting more competition from the new player, who are likely to start services in the next few months. As per Indian accounting norms, Bharti Airtel posted over 13 per cent increase in net profit at Rs 2,236.90 crore. The total income rose to Rs 10,327.57 crore during the quarter from Rs 9,688.5 crore in the year-ago period. Kohli said the hyper competition will continue for a couple of more quarter and the industry will see stability in the market only in the second half of 2010. He said that the existing operators are going to fight out these competitions from new players in lower tariff and emerge stronger. "I think the new players are going to face a lot of difficulties in terms of sustaining Themselves," Kohli added.


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