Photo Credit: Rocky Widner/NBAE/Getty Images

Vivek Ranadive — a graduate of both Harvard University and the Massachusetts Institute of Technology — secured a groundbreaking deal last week to buy a majority stake in the NBA's Sacramento Kings. The Mumbai-born businessman is the founder and chief executive officer of Tibco Software — a provider of infrastructure software and one widely credited with digitizing Wall Street.

FM Global, one of the world's largest commercial property insurers, has jumped to No. 541 on Fortune magazine's list of America's 1,000 largest companies. The ranking, published in the magazine's May 20 edition, is based on FM Global's fiscal year 2012 financial performance and represents a rise of more than 30 spots from the company's prior year's rank at No. 572

A startup aimed at combining gesture-recognition technology with smart devices recently took home the grand prize of $100K during this year's MIT 100K Entrepreneurship Competition. Founded by a group of MIT engineers, including three Indian students, 3dim has patented 3-D gesture-recognition technology to be used in popular devices such as smartphones and tablets. The technology, which is similar to what's used in Nintendo Wii and other consoles, would enable users to interact with their devices through thin air — without having to touch a screen.

Deepa Pakianathan of Delphi Ventures has joined the board of directors for Karyopharm Therapeutics amid a second round of funding that raised just under $50 million for Karyopharm — a Mass.-based company that specializes in nuclear transport modulators. The funding — which raised a total of $48.2 million — was led by a private investor with additional investors, including Delphi Ventures. Pakianathan, who joined Delphi back in 2001, is currently the firm's leader of biotechnology investment activities.

A lecturer at Harvard Law School has moved one step closer to joining America's second-highest court following approval last week from a key Senate committee. On May 16, the 18-member body of the Senate Judiciary Committee unanimously approved the nomination of Srikanth Srinivasan — an Indian native — to the DC Circuit Court.

TiE-Boston recently announced the 20 winners of this year's TiE Challenge — a collaboration that gives successful entrepreneurs an opportunity to help young entrepreneurs accelerate their innovative ideas into actual companies. Based in Cambridge, Mass., TiE-Boston is part of the global TiE — The Indus Entrepreneurs — group that is the largest not-for-profit organization promoting entrepreneurship. TiE-Boston runs a number of programs to educate, mentor, network and inspire entrepreneurs in the community.

NanoViricides Inc. recently hired Meeta Vyas — a successful former CEO with a lengthy list of professional experience — as the company's interim CFO. The West Haven, Conn.-based company specializes in creating nanomaterials for antiviral therapy. Specifically, the company's nanoviricide products are designed to both envelope and dismantle harmful virus particles.

5/16/2013

A subsidiary of India's largest pharmaceutical company has reached an agreement with federal prosecutors to pay a record $500 million in fines for selling adulterated drugs.

5/16/2013

During a talk at Boston University's India Symposium earlier in the month, Assistant Secretary of State Robert Blake said President Obama has labeled India as America's "most important" partner in Asia for the 21st century, according to a report from OneIndia.

5/16/2013

A Boston-based startup dedicated to providing utility tracking and analysis for building owners recently received $3 million in new funding from Boston Community Capital.

5/16/2013

States started with a sales tax. Then they added a use tax to collect revenue that escapes the sales tax. Now the Senate has passed the Marketplace Fairness Act to force companies in other states to collect the tax. Few individuals comply with the use tax, and where everyone is guilty, no one is guilty.

5/9/2013

On May 6, 2013, the Senate passed the Marketplace Fairness Act (MFA). If this legislation passes the House, it will require Internet-based businesses to collect state sales tax based on the shipping address for qualifying states. A state can qualify by simplifying its sales tax and providing software to the public to compute the tax.

5/2/2013

The most often cited reason we should buy American is its supposed economic benefits. However, buying exclusively within a specific geographic region impoverishes the local economy. Voluntary trade benefits both sides. The broader our trading partners, the greater that benefit.