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By Arul Louis
Chennai versus Hyderabad? In the battle of the technology titans, a reorganised Google gets a new general, Chennai's Sundararajan Pichai, to face off against Hyderabad's Satya Nadella, Microsoft's CEO.

In the fast-changing technology landscape the two companies compete in several lines of business and continue to reinvent themselves for survival, shifting business plans and pushing into new areas as they compete against each other. As the world moves beyond desktops, laptops and conventional servers, the focal points of their current competition are in cloud computing, where Microsoft has an edge and mobile technology, where Google leads.

NEW YORK -- US stocks opened sharply higher on Wednesday, as Wall Street cheered over a strong rebound in overseas stock markets.

In Asia, Japanese stocks surged 2.70 percent on Wednesday, as investors moved to reclaim Tuesday's steep losses amid speculation that a surprise downturn in Japanese industrial production may push the Bank of Japan closer to further monetary easing, Xinhua news agency reported.
Springing a surprise, the Reserve Bank of India (RBI) on Tuesday cut its short-term lending rate by 50 basis points, but made a pitch for passing it on to consumers in the form of cheaper personal and commercial credit. Stakeholders expected a 25-basis-point cut.

While the repurchase rate, or the interest charged on short-term borrowings, stands cut to 6.75 percent, it will take commercial banks to lower their own lending rates for personal, automobile, housing and commercial loans to also get reduced, translating into lower EMIs.
By Arun Kumar
Microsoft co-founder Bill Gates retains the top spot on the Forbes list of America's 400 richest people for the 22nd straight year with Republican presidential frontrunner Donald Trump ranked 121st with $4.5 billion.

While Gates' worth is assessed at $76 billion, down $5 billion from 2014, Trump's is put at $4.5 billion - less than half of what he has been claiming.
NEW YORK -- Products made in China may cost you less but they are associated with significantly higher carbon dioxide (CO2) emissions than the same products made elsewhere, claims new research.

"The amazing increase in Chinese manufacturing over the past 15 years has driven the world economy to new heights and supplied consumers in developed countries with tremendous quantities of lower-cost goods," said study co-author Steven Davis, assistant professor of Earth system science at University of California, Irvine, US.
NEW DEHLI -- Rejecting criticism that it was acting like a "remote control", the RSS said on Friday that the Narendra Modi government was on the right track and that three days of discussions with government leaders had been "very useful".

"Only 14 months have passed (since the government took power). There is more time and a lot more is to be done. Whatever has been done so far, the government's direction is fine, so is its dedication, commitment and thinking. Its achievements are good," RSS joint general secretary Dattatreya Hosabale told the media here.
NEW DEHLI -- A major index for select factory output slowed to 1.1 percent growth in July from an increase of 3 percent in the previous month, mainly due to a fall in steel production and marginal growth in coal.

The select factory output index rose by 4.1 percent in July 2014.
NEW DEHLI -- The Mukesh Ambani-led Reliance Industries Ltd (RIL) has been permitted to sell up to 120,000 tonnes of its LPG (cooking gas) output to private cooking gas marketers as per a government order.

The petroleum ministry order, valid from April 1, 2015 to March 31, 2016, is, however, subject to RIL importing an equivalent quality for supplying to state-run oil marketing companies (OMCs).
NEW YORK --  The American Federation of Muslims of Indian Origin (AFMI) has honoured India-born entrepreneur and philanthropist, Frank Islam with the "Pride of India" award, the media reported on Monday.

South Asian Connection
NRI Business
BENGALURU, India-- Global software major Infosys Ltd on Monday secured shareholders' approval for buying its healthcare business subsidiary for $100 million (Rs.625 crore), a company official said.

BENGALURU, India--Many investors of global software major Infosys Ltd were up in arms against its board at the 34th annual general meeting here on Monday for various reasons.

NEW DELHI--The government of India on Monday proposed to do away with transaction charges on card payments at petrol pumps, gas agencies and for railway tickets.

Business Features
By Amit Kapoor
India, since Independence, has achieved modest success when it comes to some aspects of public health, but much remains to be done for the future.

At the time of Independence, the life expectancy at birth for an individual in India was 32 years, it has more than doubled to 66 years in 2013. Similarly, the infant mortality rate (IMR or the number of babies who die before their first birthday in a given year per 1,000 live births in that year) has gone down from 164 in early 1950s to 40 in 2013.

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