Noted

Launched: In Europe, India's favourite 24-hour Hindi news channel, Aaj Tak, by the TV Today Network. Already a big success in the US and West Asia, the channel will be available across Europe on the World TV platform, a division of GlobeCast.

Projected: By NASSCOM, revenues of $60 billion (Rs 2,46,000 crore) by 2010 for the Indian IT/ITES industry. For 2007-08, it predicted a 24-27 per cent growth in revenues to $50 billion. According to the industry association, the sector recorded a growth of 30.7 per cent in 2006-07, clocking revenues of $39.6 billion (Rs 1,74,240 crore).

Allowed: By the Foreign Investment Promotion Board (FIPB), Hermes International, to set up a subsidiary in India under the guidelines for single-brand retail outlets. The French luxury brand will sell its premium cosmetics, perfumes, readymade garments, leather goods, footwear, lifestyle products, jewellery, silk items and bags in the country.

Appointed: A 1972-batch Andhra Pradesh cadre IAS officer, Duvvuri Subbarao, as Union Finance Secretary. An IIT-Kanpur alumnus, he was a Lead Economist at the World Bank from 1999-2004 and has worked extensively in Africa and East Asia. He was among the first IIT products to join the civil services.

Crossed: By India's telecom subscriber base (fixed line and wireless), the 200 million mark in the quarter ended March 2007, rising to 205 million from 189.92 million in December 2006, up 8.39 per cent. The country's tele-density reached 18.23 per 100 people from the previous level of 17.16.

Emerged: Mexican telecom tycoon Carlos Slim Helu, as the richest man in the world, claims a Mexican financial news website, replacing Microsoft boss Bill Gates. A 27 per cent surge in the stock price of Slim's wireless company, American Movil, in the second quarter has taken his net worth to more than $67 billion, nearly $8 billion more than Gates' estimated fortune.