Motorola shifts jobs to India

Singapore, March 9: Motorola Inc, the world’s second-largest maker of mobile phones, shut semiconductor design units in Singapore and Taiwan as it moves work to India and China where wages for engineers are lower. Motorola fired about 50 chip-design workers last week in Singapore, Taiwan and at a facility that will stay open in Hong Kong, spokeswoman Gloria Shiu said in Beijing. Schaumburg, Illinois-based Motorola will divide the work among operations in India, China and Australia.

Sebi plan

Mumbai, March 9: The Securities and Exchange Board of India (Sebi) will soon announce the date for implementing straight through processing (STP) system for further reduction in cost and time for capital market transactions. The regulator has reviewed the progress and working of STP, said Sebi chairman G. N. Bajpai.

TCS deal

New Delhi, March 9: Singapore Airlines has sold its 51 per cent stake in Aviation Software Development Consultancy India to Tata Consultancy Services in an all-cash deal worth Rs 140.25 million (about Singapore $5.3 million).

Ispat debt

London, March 9: Ispat International NV said its US unit would sell $800 million of bonds to repay existing debts. The issue will consist of floating-rate notes due in 2010 and fixed-rate notes due in 2014.

Acer launch

New Delhi, March 9: Acer today launched nine notebook configurations ranging between Rs 40,000 and Rs 60,000.