1. Direct Taxes Code (DTC), which seeks to modernise tax laws in the country, will come into force from April 1, 2012 in India.
2. Canadian BlackBerry maker Research in Motion (RIM) has appointed Sunil Dutt, who has worked with Hewlett Packard India and Samsung India Electronics, as its managing director for India operations.
3. Facebook acquired privately held social networking firm Gowalla for an undisclosed sum in an attempt to improve its location-based networking operations.
Cairn India got NOC from ONGC to sell major stake in its Indian unit to Vedanta Resources.
4. Manufacturers’ Association for Information Technology (MAIT) has announced that Mr Sabyasachi Patra will take over as its new executive director with immediate effect.
5. The country’s largest foreign lender Standard Chartered has cherry-picked three-fourths of the credit card portfolio of Barclays India, running into some 1.6 lakh customers, for an undisclosed sum.
6. Success Factors Inc acquired by SAP to boost their portfolio of web-based software.
9. India’s largest private lender by assets, ICICI Bank and IDBI Bank, the seventh largest public sector bank in India together launched India’s first credit default swap (CDS) on 7 December 2011.
10. With the inauguration of the first state-of-the-art ATDC-SMART (Skill for Manufacturing Apparels through Research and Training) in Egmore, Chennai, the Integrated Skill Development Scheme (ISDC) for the textile and apparel sector was launched by the Ministry of Textiles.