Wednesday, September 16, 2009

Hotel prices fell by 17 percent: Report

The average price of a hotel room around the world fell by 17 percent in the first six months of 2009, according to a report by

Part of hospitality major Expedia group, offers more than 100,000 quality hotels and serviced apartments worldwide.

According to its latest Hotel Price Index, hotel prices globally were lower than they were five years ago when the index was first prepared. Consumers are now paying the 2003 prices, it said.


Orchid gets US approval for two drugs

Chennai: City-based Orchid Chemicals and Pharmaceuticals has received approval from the US Food and Drug Administration (USFDA) for abbreviated new drug applications (ANDA) for Piperacillin and Tazobactam injections.

The FDA has granted 180-day generic drug exclusivity for marketing the products. Orchid will sell the drugs in the US in partnership with Canada's Apotex.


Tata Consultancy opens office in Buenos Aires

Kolkata: IT service provider Tata Consultancy Services (TCS) has opened a new global delivery centre in Buenos Aires, Argentina.

TCS will initially employ about 250 professionals at the new centre. "We are proud to be the first company to open its doors in the new technology district of said Buenos Aires," S. Ramadorai, chief executive and managing director of TCS.

"Our growing presence in Latin America continues to be of strategic importance to our overall business growth and we remain committed to working in close collaboration with institutions and universities in Argentina."


Irish group unveils first project in India

Hyderabad: Quinn Property, part of Ireland's Quinn group that has diversified interest in areas such as chemicals, insurance and hospitality, Wednesday unveiled its first Indian project, a commercial building, built on an investment of $100 million in Gacchibowli area here.

Called Q-City, the $32-billion group Quinn hopes to attract companies from the IT, telecom and financial services to take up space at the the nine-storey building.


Marico listed on Bangladesh bourses

Mumbai: Fast moving consumer goods major Marico Ltd Wednesday said its wholly-owned subsidiary, Marico Bangladesh Ltd (MBL), has started public trading in the Dhaka and Chittagong Stock Exchanges.

The company Wednesday signed listing agreements with the two bourses and commenced trading soon after, Marico said in a regulatory statement.
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