COMPANIES

• Scala to concentrate on WAP
• Value Software forms JV with German company
• Ajanta Pharma appoints KPMG for partner search
• Mahindra-BT promoters may spin off their holding for overseas listing
• Telco to outsource inbound supply logistics
• Wockhardt introduces its hepatitis-B vaccine
• Microsoft ties up with Andersen Consulting to form a JV
• Fiat opts for General Motors over DaimlerChrysler
• US media majors plan merger

GENERAL

• Sitting fees for directors increased, managerial remuneration norms eased
• Proposal for new internet domain names postponed
• Mega merger in Japanese banking sector in the offing

CAPITAL MARKET

• BSE sensex loses 173 points to close at 5,129
• Malegam committee to review lock-in period, among other things