May 16th, 2012 | 
Author: New Delhi/Ahmedabad, May 16 (IANS) Gujarat Chief Minister Narendra Modi is expected to skip the upcoming BJP National Executive meet in Mumbai, with an aide saying it will be his personal decision.
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NEW YORK/SAN FRANCISCO (Reuters) – Facebook Inc increased the size of its initial public offering by almost 25 percent, and could raise as much as $ 16 billion as strong investor demand for a share of the No.1 social network trumps debate about its long-term potential to make money. Facebook, founded eight years ago by Mark Zuckerberg in a Harvard dorm room, said on Wednesday it will add about 84 million shares to its IPO, floating about 421 million shares in an offering expected to be priced on Thursday. …
CarZ, one of India’s leading independent Multi Brand Car service network raised Series-A funding of $ 5 million from Indo-US ventures ….
CANNES, France (Reuters) – It took no less than a live camel strolling the promenade in Cannes to steal the show on the film festival’s opening day, a feat that comedian Sacha Baron Cohen pulled off with chutzpah on Wednesday. The British satirist, star of “Borat” and “Bruno,” used the novel public relations stunt to draw attention to the U.S. opening of his new film “The Dictator,” in which he plays fictitious despot General Aladeen of the made-up North African country Wadiya. …
REUTERS – Corporate IT departments in the United States are becoming less wary of staff bringing their personal devices to work, a Cisco study showed, although security remains a top concern. Among 600 IT and business executives questioned by Cisco’s consulting arm, 95 percent said they support employees bringing and using personal devices in the workplace in some way, Cisco’s Internet Solutions Business group (ISBG) said on Wednesday. Corporate IT departments have been slow to embrace the trend dubbed ‘Bring your own device’ (BYOD) because of potential security risks. …
He added: “The liquor trader, however, managed to escape after making another man replace him. Yadav then took care of the man’s family for a long time. Yadav has a lot of connections, he bribed a lot of people and suppressed the case.”
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MUMBAI (Reuters) – Indian gold futures hit their lowest level in six weeks, extending losses for the third straight session on Wednesday, attracting bargain hunting by physical traders, though the rupee hitting a record low capped the downside in prices. * The most-active gold for June delivery on the Multi Commodity Exchange (MCX) hit 27,855 rupees – its lowest since April 4. At 3:11 p.m., it was down 0.71 percent at 27,925 rupees. * The yellow metal shed 2.5 percent so far this week. …
SEOUL (Reuters) – Shares in Samsung Electronics Co slumped more than 6 percent on Wednesday, wiping $ 10 billion off the electronics giant’s market value, on a report that Apple placed huge chip orders with troubled Japanese chip rival Elpida. Taiwan’s DigiTimes, an online trade news site, reported that Apple recently placed large mobile dynamic random access memory (DRAM) orders with Elpida’s 12-inch plant in Hiroshima, Japan, securing around half the facilities total chip production. It cited unnamed industry sources in its report, which hit shares of major chip suppliers to Apple. …
MUMBAI (Reuters) – Drugmaker Piramal Healthcare is buying a U.S.-based healthcare data provider for $ 635 million to boost research and development, in the biggest outbound acquisition by an Indian company in over six months. Mumbai-based Piramal Healthcare, controlled by billionaire Ajay Piramal, has been looking to expand its R&D portfolio after it sold its India formulations business to U.S.-based Abbott Laboratories for $ 3.7 billion in 2010. …
ATHENS (Reuters) – Greece’s political leaders meet on Wednesday to form a caretaker government to take it to a second election in just over a month, with its euro membership at stake and its president speaking of “fear that could develop into panic” at its banks. President Karolos Papoulias was forced to call a new vote after failing to cobble together a coalition government. An election on May 6 saw leftist opponents of Greece’s EU/IMF bailout deprive the parties that ran the country for generations of a majority. Polls suggest the radical left are poised to win the re-run. …