Ambulance lights are reflected on a glass window with a logo of Apple Inc in TokyoApple has bought Israel's Anobit, a maker of flash storage technology, for up to $500 mn, the Calcalist financial daily reported on Tuesday.The newspaper said Anobit's management was in the process of gathering its staff to formally announce the acquisition by Apple.Last week it had reported that Apple was in advanced talks to buy Anobit for $400-$500 mn.(Pictures by Reuters)

Apple buys Israel`s Anobit

Stewardesses serve passengers inside a Kingfisher Airlines aircraft in the skies over New DelhiGovernment today said it is taking action against debt-ridden Kingfisher Airlines for not depositing Rs 153 crore, which the company deducted as TDS from its employees, with the exchequer."Proceedings have been initiated for FY10-11 to crystalise the default amount, levy interest on delayed payment and take further statutory action," Minister of State for Finance SS Palanimanickam said in a written reply in the Rajya Sabha.The liabilities with regard to TDS default, as quantified from preliminary examination, was Rs 53.82 crore for 2010-11 and Rs 100 crore for the current fiscal, he said.

Kingfisher evades tax deposits

Mukesh Ambani, chairman of Reliance Industries, speaks during a news conference in MumbaiOil and gas major Reliance Industries denied on Tuesday a media report that the company was interested in buying a stake in TV firm Network 18.Shares in Network 18 jumped 20% early on Tuesday after the Wall Street Journal reported that Reliance head Mukesh Ambani, India&#39;s richest man, was seeking to buy a stake.

RIL  denies Network 18 deal

Mumbai&#39;s skyline is seenThe global real estate fund of Morgan Stanley is in talks with Mumbai-based Sheth Developers to invest Rs 530 cr to Rs 600 cr in a residential project in Mumbai, three sources with direct knowledge of the matter said.The Morgan Stanley fund will invest in the unlisted Indian firm&#39;s project in the western suburbs of Mumbai, said the sources, who declined to be named as they were not authorised to speak to the media.

Morgan Stanley invests in Mumbai

An employee uses an electronic machine to check an Indian currency note inside a bank in AllahabadIndia&#39;s piecemeal steps to defend the rupee can do little more than slow its decline for now, and some of the measures risk hurting the currency in the long term.The rupee&#39;s weakness -- a drop of nearly 20% from July highs to a record low last week -- reflects the increasing doubts of foreign investors over the ability of India to tame high inflation, prop up falling growth and rein-in its large fiscal and current account deficits.