Norwegian telecom major Telenor?s Indian arm Uninor has narrowed its operating loss to Norwegian krone 107 million (R107.82 crore) for the second quarter ended June, aided by product optimisation and higher average revenue from subscribers.The company had reported a net loss of NOK 619 million (R623.09 crore) during the corresponding quarter last year. The revenues of the company were down to NOK 728 million (R733 crore) compared with NOK 1,034 million (R1,041.10 crore) in the same period last year.

BTI to file case against striking employees

Bombardier Transportation India (BTI), which is facing labour unrest at their Savli plant near Vadodara since June 3, has decided to launch a recruitment process to hire replacement workers to ensure smooth conduct of its business activities. The company had earlier appealed to the striking employees to resume work by July 17. ?The company will charge sheet all illegally striking employees for not adhering to court order of ?prohibition of strike? passed on June 27…,? said a statement by the company.

CapitalVia Global buys DreamGains Financials

Financial research company CapitalVia Global Research on Tuesday said it has acquired market research firm DreamGains Financials India for an undisclosed amount. The acquisition would strengthen CapitalVia?s presence in the south Indian market. The acquisition gives CapitalVia access to Bangalore-based DreamGains? over 720 active customers, technical and physical infra and about 80 highly trained business development talent, a company statement said.

Titagarh Wagons acquires FreightCar America stake

Private railway wagon maker, Titagarh Wagons, on Tuesday announced that it has acquired stake of FreightCar America in Titagarh Freight Car (TFPL), a joint-venture it formed with the Chicago-based company five years ago. After the buying out FreightCar?s stake for an undisclosed amount, TFPL has become a wholly-owned subsidiary of the Kolkata-headquartered firm. Titagarh Wagons and FreighCar agreed to wind up and dissolve the 49:51 joint venture early this year after the latter?s decision to terminate the agreement in 2011. FreightCar had majority stake in the JV.

UBS Fund Services teams up with Tech Mahindra

Tech Mahindra has signed an agreement with Luxembourg-based UBS Fund Services as the first client for its new platform, Tech Mahindra Managed Data Services (MDS), designed to support asset managers, wealth managers, investment banks, custodians and administrators. The contract is for an initial five-year term. Tech Mahindra will provide UBS FSL with a fully managed service across four major areas of data management, namely securities reference data, pricing, corporate actions and tax data. Tech Mahindra MDS supports the complete data life-cycle of sourcing, cleansing, enrichment and distribution to multiple locations.

RInfra commences ninth road project at Jaipur

Reliance Group company, Reliance Infrastructure (RInfra), through its special purpose vehicle JR Toll Road, announced the commencement of its ninth road project from Jaipur to Reengus in Rajasthan. The four laning of the 52-km Jaipur Reengus (JR) road has been completed and toll collection has started, company said. The R556-crore project has been executed on design, build, operate, finance and transfer pattern under the aegis of NHAI. RInfra has been awarded the contract for a concession period of 18 years, it added.