AZIM’S SONRISE Rishad Wipro chief strategist

• RISHAD Premji, one of the heirs to Azim Premji’s $17-billion empire, will get a chance to prove his management mettle at the top echelons of Wipro after he was appointed chief strategy officer of India’s third-biggest software services exporter.

• The 33-year-old Rishad, widely perceived as Mr Premji’s successor at Wipro, will chart future strategy, identify new business areas and help draw up a vision plan. He will report to joint CEOs Suresh Vaswani and Girish Paranjpe.

•  “The changes will be effective January 2011. However, Rishad will move into the strategy function from September 1, 2010,

Food inflation rises again

Food price index rose to an annual rate of 10.86%.

It was marginally lower at 10.05% a week ago.

Fuel prices too, inched up marginally to 12.71% from 12.57% the week before

NEW ENTRANTS SEEK REFUND OF FEES

• THE telecom department (DoT) is examining proposals that would allow new mobile operators, who were given licences and airwaves under controversial circumstances two years ago, to sell out or exit, paving the way for a possible consolidation in the 14-player domestic telecom market.

HP wins 3PAR for $2.4 billion, Dell bows out

• Hewlett-Packard won the bidding war to buy data storage company 3PAR Inc for $2.4 billion, after rival Dell Inc bowed out from a drawn-out bidding war on Thursday. HP raised its offer by $3 to $33 per share, beating Dell's latest $32-a-share offer.

Godrej launches project in Mangalore

• Godrej Properties announced the launch of its first project in Mangalore, Godrej Avalon. Located on the airport road, the project is spread over 6 acres and is designed as a high-end residential project with three 23-storey towers offering 3 and 4 BHK luxurious apartments.

HDFC raises lending rate

• HDFC raised its benchmark lending rate by 50 basis points to 14.25 per cent, a move that would make home loans costlier.The revised retail prime lending rate (RPLR) would be effective from September 1 and home loans up to Rs.30 lakh would increase to 9.25 per cent.