In addition to expanding its international footprint, IBM (IBM) is also expanding domestic operations. The company has announced the opening of a services delivery center in the U.S.

The new facility will maintain, monitor and support computer hardware, software and manage IT services for IBM's clients. The new center joins an extensive network of more than 80 IBM delivery centers worldwide.

For the new facility, IBM intends to hire up to 1,300 people by the end of 2010.

With an investment of $300 million in 2008, IBM built 13 Business Resilience service delivery centers in 10 countries, increasing its ability to address surging demand from businesses and governments from around the world seeking to keep their operations safe from disruption. IBM also plans to open a new collocation data center at its Greenock facility in Scotland and three new global delivery centers in Argentina.

To further bolster its presence in India, the

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Auto parts supplier ArvinMeritor Inc. (ARM) recently entered into a strategic partnership with Yutong Group Co. of China.

ArvinMeritor will provide parts and components of power transmission and basic braking systems to Yutong for the production of Yutong buses and chassis. Under the agreement, in addition to continually providing high-end axle products to Yutong, ArvinMeritor will also offer differential carriers and brake calipers made in its production plant in Wuxi, China, for application in Yutong’s self-made axles.

The final product will be assembled at Yutong's plant in Zhenzhou, China. As part of this partnership, ArvinMeritor and Yutong will also sell and distribute standard aftermarket service kits for its products.

The project will commence at the end of 2009 and the investment is expected to exceed $50 million in the next five years. Meanwhile, both parties will also further strengthen the cooperation in a wider area.

ArvinMeritor expects the alliance to consolidate its

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Hedge Funds in IndiaThe Benefits of Offering Hedge Funds in IndiaHere's a short article on how the Committee of Financial Sector Reforms in India might introduce hedge funds and why this would be a positive move for the Indian markets and fund industry as a whole.______________________ The Draft Report of the Committee on Financial Sector Reforms headed by Professor Raghuram Rajan was issued for comment in April 2008. Among the proposals that the high-level committee made was the introduction of domestic hedge funds. The committee feels that, “The presence of hedge funds would induce greater competitive pressure for other regulated fund management channels such as mutual funds.” This week’s article discusses the benefits of introducing hedge funds in the Indian market. It shows how ...