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No surrender fee on Ulips after 4 yrs
Irda also takes mortality, morbidity charges out of overall 3% cap

Unitech net profit falls 22% in Q4
Unitech Ltd, the country’s second-largest property developer, reported a decline of 22 per cent in its consolidated net profit for the quarter ended March 31 to Rs 279.7 crore, compared with Rs 360.2 crore for the corresponding period last year. Net profit for the full year 2008-09 also fell 28 per cent at Rs 1,197.7 crore, compared with Rs 1,661.9 crore for the corresponding period last year. Revenue for the year came down 23 per cent, to Rs 3315.6 crore, as compared with Rs 4,280.1 crore for the corresponding period last year.

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Asian markets subdued in morning trades
Asian markets are trading in red this morning. The Hang Seng has dropped 80 points to 21,419. The Nikkei, after touching a four-month high, has dropped 27 points to 10,611 on continued concerns of Japan Airline"s debt.
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Microsoft eyes Indian smartphone mkt

The world"s largest software firm Microsoft today said it is sharpening its focus on the fast growing smartphones market and other wireless devices in India. - Over 2,000 Indian firms adopt Windows 7 - Mahindra Satyam to explore New Zealand market with Gen-i - India Eco Summit: Microsoft India going easy on hiring - Excise duty uppercuts software firms - Microsoft launches online services in India - Microsoft to cut 800 jobs worldwide "We have heavily invested in that space and will continue to do so. It is still a very competitive space," Microsoft Corporate Vice-President (OEM Division) Steve Guggenheimer told PTI. Smartphones, high-powered mobiles with computer functionalities and big screen, constitute less than 10 per cent of total cellphone market in India. According to industry estimates, out of the 130 million devices likely to be sold in 2009-2010 only 6 million would be smartphones. Out of the 6 million, only 2.5 lakh phones run on Microsoft"s operating system. Guggenheimer said, Microsoft works with several mobile handset manufacturers like Sony Ericsson, HTC, LG and Samsung except Nokia, which uses Symbian operating system. Although Microsoft"s Windows-based smartphones have come up in the past few years, they face stiff competition from the likes of Nokia, which uses Symbian OS and Blackberry. The competition got hotter with the entry of Apple mobiles and Google"s recently launched OS, Android, not to talk of spread of mailing device Blackberry.


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