Microsoft acquires Navic Networks

Microsoft Corp. has acquired Navic Networks, a Waltham (Massachusetts)- based company that specializes in emerging forms of TV advertising technology for an undisclosed amount. This deal is the latest step by Microsoft to turn itself into a one-stop shop for digital advertising. Microsoft's biggest deal in the advertising market was a $6 billion acquisition of Seattle-based aQuantive a last year.

BRIC nations set for mobile boom

According to a report by eMarketers, India along with other BRIC countries like Brazil, Russia and China is likely to become home to over 1.7 billion users by 2012. India is likely to have 560 million mobile users, while China is expected to top the chart with 800 million. India would be followed by Russia with 189 million users and Brazil at 176 million. Currently India has over 270 million mobile users.

Iran alienates Israel and International business partner

According to state media sources, Iran tested nine of its long and medium range missiles in July which are capable of reaching bases in Israel and the US. These activities aggravated the prevailing tension between Iran and Israel over the former's nuclear program which, according to sources in Tehran, is not for developing weapons but for electricity. The US has condemned Iran for its latest weapons-testing. Following Iran's testing of missiles, the French energy giant Total has pulled out of its earlier plans of a gas deal with Iran, claiming the investment to be risky. The firm had planned to develop gas fields in the south of the country earlier. This will be a major blow to Iran's energy industry.

EU in the news

France has taken over the presidency of the European Union for the six months starting July 2008. French President Nicholas Sarkozy has plans to address issues concerning the Lisbon treaty and in this context, the president visited Dublin to hear Irish voters' pleas. France would also focus on issues concerning immigration, environment, agriculture and defense. The EU also played hast to a summit with the Mediterranean rim nations; The Union for Mediterranean nations was launched leaders of 43 nations and topping their priority list is the end of the Middle East conflict at Paris. At the summit, the French president welcomed the decisions of Israeli PM Ehud Olmert and Palestinian leader Mahmoud Abbas to seriously work towards achieving peace in the region. The EU according to recent reports has decided to withdraw aid to Bulgaria amounting to almost $1 billion in funds as the Bulgarian government has failed to take required action against corruption and the rising figures in organized crime in the country.