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INTERNET
AOL sets up Indian software site
The Time Warner unit has hired a dozen people to develop software at a new center in the southern Indian tech center of Bangalore. The Internet unit, which has lost 2 mil dial-up subscribers in the last 2 years, follows competitors Yahoo and Google, who also have set up operations in Bangalore to develop software that runs various online services. In Dec., AOL laid off 450 software developers in California and closed two offices in the state.
Rediff.com up on Yahoo news
The India-based Internet portal's shares soared 33% to 11.60 on the news that it would run Yahoo's India shopping channel, and the Internet firm would provide ring tones, wallpaper and games on the Rediff.com site. The news also lifted Sify, another India-based Internet firm that offers Web access and e-commerce services, which rose 13% to 7.04.
MARKETS
Nikkei ends fiscal year up 47%