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SKNL Q3 net profit up 74% to Rs 81 cr
Textile and apparel group SKNL today reported 74.6 per cent jump in its net profit to Rs 80.7 crore for the third quarter ended December 31, 2009, compared to the same period last fiscal on the back of robust growth in its domestic business.

Defiant N Korea conducts second nuclear test
Unmindful of international pressure, a defiant North Korea today conducted a second "successful" and "more powerful" nuclear test, a move that could invite fresh sanctions and punitive action against it.

News of the day

Wen the honest
One of the positive fallouts for India from the BASIC powwow at Copenhagen was the thaw in India-China relations after the recent chill over Dalai Lama and Arunachal Pradesh. A warm and friendly Chinese premier Wen Jiao Bao bent over backwards to reassure Prime Minister Manmohan Singh that China was a good friend of India, adding that contrary to the impression created by the China-US joint statement issued during the visit of US President Barack Obama, China had no intention to interfere in India’s disputes with Pakistan. Perhaps feeling that Manmohan Singh was not fully convinced of his good intentions, Premier Wen insisted, “I am telling the truth, I am not a liar”!
International Business

Facebook receives $200 mn investment from Russian firm

Social networking site Facebook has received a $200 million investment from Digital Sky Technologies, an internet investment group, in exchange for a 1.96 per cent stake in the company. - Iran restores access to Facebook: report - Selling internet air - IBM offers social networking tool for software developers - 'Sexiest indian man Alive' - Nokia to start subscription-based music service - Indians remain shy online social networkers Digital Sky Technologies (DST), which has significant stake in Eastern European and Russian internet businesses, has picked up 1.96 per cent in Facebook, valuing the enterprise at $10 billion, the company said in a statement. In addition, DST has indicated plans for an offer to buy at least $100 million of Facebook shares from existing shareholders to facilitate liquidity for current and former employees" vested shares in the company. However, consistent with Facebook"s practice with other recent investors, DST would not be represented on the Facebook board or hold special observer rights, the statement added. "This investment demonstrates Facebook"s ongoing success at creating a global network for people to share and connect," Facebook CEO Mark Zuckerberg said. "A number of firms approached us, but DST stood out because of the global perspective they bring-– backed up by the impressive growth and financial achievements of their internet investments," Zuckerberg added. DST"s main assets account for over 70 per cent of all page views in Russian-speaking internet and its social networks are market leaders in more than 13 countries.


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