Dreamworks seals Indian film deal

Hollywood's Dreamworks studio is finally set to receive a multi-million dollar film production deal from Indian company, Reliance Big Entertainment.

The first film from the investment will be Harvey, an adaptation of a play about a man and a giant invisible rabbit. Stephen Spielberg will direct.

Reliance is a key player in Bollywood. Dreamworks was co-founded by Spielberg.

Under the agreement, Dreamworks will make five to six films every year for global audiences.

The second movie, titled Dinner for Schmucks, will begin shooting in October.

Blackberry 'fastest-growing firm'

The maker of the Blackberry mobile phone, Research in Motion (RIM), is the world's fastest-growing company, according to business magazine Fortune.

Canada-based RIM has come top of the magazine's latest annual guide to the 100 fastest-growing businesses.

In second place was US chipmaker Sigma Designs, with Chinese internet business Sohu.com coming in third.

Fortune rates a firm's growth on a combination of its profits, turnover and investment return over three years.

Sensex wipes off some losses, ends 250 pts higher

The Bombay Stock Exchange benchmark Sensex on Tuesday surged over 250 points after the market dropped 4.07 per cent on Monday.

The Sensex, which had lost 626.71 in Monday's trading, bounced back to end with a gain of 250.34 points at 15,035.26.


The key index touched the day's high of 15,134.51 and a low of 14,740.26 as trading remained choppy because of funds and general investors adjusting their portfolios.


Similarly, the 50-share National Stock Exchange index Nifty rose 71 points at 4,458.90, after rising to 4,491.45 and touching the day's low of 4,372.65.


Recovery in Asian as well as European stocks this afternoon further boosted trading sentiment following reports of a hike in new house sales data in the US and rising hopes of stability in the weakening global economies.


A major supporter to the markets were stocks in the capital goods, realty, metal, power and auto segments.


Overseas funds bought a net Rs 1,030 crore (USD 211 million) of Indian stocks on 14th August, the Securities & Exchange Board of India said on its web site.


The funds have bought stocks of Rs 37,600 crore this year, compared with record net sales of Rs 53,000 crore for the whole of 2008.