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Financial city to initially attract banking, insurance
The Tamil Nadu government"s proposed Financial City, aimed at wooing private financial players, is expected to come up on 180-acres at suburban Sholinganallur and Perumbakkam and would initially attract companies involved in banking and insurance accounting operations, Deputy Chief Minister M K Stalin said today.

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Tata Tele leads mobile user addition with 3.3 mn in Dec
Tata Teleservices has added 3.3 million subscribers in December 2009, becoming the number one operator in terms of subscriber addition for the fifth consecutive time.

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Tech Mahindra: Forex gains
The September 2009 quarter results of leading IT players suggest that the global telecom industry is not out of the woods. Indicatively, Infosys and TCS‘ telecom segments’ share in overall revenues posted a decline of 60-70 bps sequentially — even on an absolute basis, their telecom-vertical revenues were lower sequentially. Given the muted outlook for the telecom sector, the topline and operating performance of Tech Mahindra, which derives 60 per cent from Europe and about 50 per cent from its major client, British Telecom (BT), is reasonably good.
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IFC to provide $50 mn loan to Apollo Hospitals

World Bank Group member International Finance Corporation (IFC) today said it will give $50 million loan to healthcare major Apollo Hospitals for providing high quality services to smaller cities across the country. - Fortis pares gains, ends flat - Apollo drops Wockhardt buyout plans - Banks seek more sops for core financing - Max India shareholders plan raising Rs 150 cr - Iffco Tokio to introduce weather index for insurance - Crisis-hit sectors should get more funds: plan panel "IFC"s financing will be used by Apollo to expand its network of "Reach Hospitals", which are designed specifically for less-developed population centres," IFC said in a statement. Apollo Hospitals expects to set up 15 new hospitals in the next three years, an initiative that will create significant employment opportunities for local medical professionals, it added. "The project aligns with our strategy to invest in healthcare, one of India"s largest service industries where the private sector"s involvement is most critical," IFC Vice President Rashad Kaldany said. Apollo has long been one of IFC"s key strategic clients both in the region and globally, given the scope of its operations and its willingness to invest in smaller cities as well as outside the country, Kaldany said. Apollo Hospitals is leading private healthcare services provider in the country.


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