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SBI upbeat on foreign growth, to scale up Singapore ops
The country’s largest lender, State Bank of India (SBI), has chalked out strategies to grow aggressively in overseas markets, especially Singapore, in this fiscal, a top SBI official said. This would help the Indian banking behemoth to move a step closer to consolidate its position in the global financial services industry.

US markets end marginally lower
The US markets had an unspectacular day of trade. Dow Jones closed at 10,426.30, lower by 11.11 points or 0.11%, Nasdaq ended at 2193.14, weaker by 10.64 points or 0.48%, and S&P shut at 1109.8, down 0.52 points or 0.05%.

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Vanita Kohli-Khandekar: Star, democracy and media
What does TV broadcast major Star’s shift of operations from Hong Kong to India suggest? What does it mean now that the Star India CEO Uday Shankar will report directly to James Murdoch, the head of Europe and Asia for parent News Corporation, instead of reporting to the regional boss in Hong Kong? In the answers to these questions lie the story of the growth of Indian media.
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With two hands

Suddenly, search engines seem to be multiplying. Microsoft is set to unveil Kumo, its latest effort to crack Google’s dominance in search. Meanwhile, sites like Wolfram Alpha and Newssift are trying to find safe and profitable niches for searches that add specialist value. Sadly, Google’s supposed rivals have mostly done better at generating hype than meaningful results. - Yahoo!, Google still hiring in India - Yahoo!, Google still hiring in India - Google India"s Shailesh Rao is IAMAI chairman - Google lessons on worldwide web, a few earnings - US-India Business Council appoints Google India MD on board - Google world"s top brand; first to hit $100-bn Microsoft’s efforts to take on Google are starting to appear quixotic. It has been unveiling new search initiatives for years, yet its share has now shrunk to less than 10 per cent of the US market, according to Comscore. Google’s is 64 per cent. Kumo’s rumoured new features sound evolutionary, not radical. A more promising approach is to concentrate on niches overlooked by Google. The new Wolframalpha search engine aims to answer technical and scientific queries. That sounds promising, because the site’s founder, Stephen Wolfram, developed the well regarded modelling programme Mathematica. Wolfram Alpha’s method also sounds impressive: the site uses algorithms and interrogates high-quality databases to compute answers to questions. Unfortunately, the results don’t deliver — even in its supposed forte of maths and sciences. Type in “second derivative” and the site hasn’t a clue. Biology doesn’t fare better. Type in “dog” and you get an impressive list of statistics on the species canis lupus. Dogs are indeed a sub-species of grey wolves, but chihuahuas don’t get as heavy as people and have tails almost two feet long. Newssift, the specialised search site for news launched by the Financial Times Group, offers a host of helpful-looking methods to drill down on specialised news items. The results, sadly, appear scattershot at best. These could just be teething pains. But failing to hit the ground running makes it easier for Google to catch up. And history doesn’t provide much reason for optimism. Take Cuil. Ex-Google employees launched the site to much fanfare last year, but the search engine couldn’t even locate itself at first. It hasn’t caught on. It’s not so much a problem with the new sites’ ideas or their developers’ pedigrees. It’s more that, if it chooses, Google can outgun them so easily. That may become a concern for competition-minded regulators. In the meantime, upstart rivals are still searching for the page that tells them how to avoid being squashed by Google.


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