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Moser Baer to invest $1 billion by 2010

• NEW DELHI: Technology firm Moser Baer on Thursday said it would invest $1 billion in its various business units by the end of financial year 2010. "We will invest $1 billion in various units of our business by 2010 of which around $250-270 million have already been invested in this fiscal," Moser Baer ED Ratul Puri told reporters. The company has earmarked an investment of $550 million for this fiscal which would be completed by March 2009. About 90% of the proposed investment would go to its photovoltaic (PV) business, Puri added. From the $550 million investment this fiscal, close to $450 million would be invested in the PV business and nearly $20 million in its optical media business.
Spice Tele launches mobile software venture Mobisoc

• NEW DELHI: Spice Televentures, the wholly-owned subsidiary of B K Modi Group on Thursday announced the launch of its mobile software development venture Mobisoc Technology to offer internet enabled valued added services. "Mobisoc will enable rich internet experience on all mobile phones. Today, 70% of the phones sold are GPRS-enabled but the usage of value-added services is yet to pick up," Spice Televentures chairman Dilip Modi told re-porters here. "We expect to grab 10% share of the total GPRS phones sold in the country by December 2009, he added.
Zydus Cadila files application for cardiovascular drug

• MUMBAI: Zydus Cadila has filed an Investigational New Drug application with Drugs Controller General of India for ZYT 1, which is used to prevent heart attack and stroke. The ZYT 1 molecule is designed and developed at the Zydus research centre, Cadila Healthcare—the flagship company of Zydus Cadila Group—said in a filing to BSE. "There is currently a huge unmet need for new therapies in treating dyslipidemia patients. In ZYT 1, we see an interesting possibility that can adequately bridge this gap and usher in significant improvement in meeting treatment goals," Zydus Cadila CMD Pankaj Patel said.
Amtex floats arm to tap business intelligence

• CHENNAI: IT consulting and services company Amtex Systems on Monday floated a wholly-owned arm to tap opportunities in business intelligence. The US-based company believes the demand for such services will go up as companies seek to step up utilisation and track their resources more closely.