The document provides a weekly summary of business news from India. It discusses several topics: - 7 of the top 10 companies in India added over Rs. 33k crore to their market capitalization, with ONGC gaining the most. - The International Air Transport Association expects Indian airlines to reduce their combined losses to $400 million in 2010. - Canara Bank, HSBC Insurance and OBC will invest another Rs. 100 crore in their life insurance venture to fund expansion plans. - Reliance Industries published annual reports for 82 of its 96 subsidiaries but its corporate structure remains complex.

1. WEEKLY NEWS

2. 7 of top-10 cos add over Rs 33k cr to m-cap, ONGC top gainer The 30-share BSE Sensex crossed the 20,000 points level on September 21, a feat achieved after a gap of 32 months. During the week, the broader gauge rose 2.29 per cent to close at 20,045.18 on the BSE. Oil and gas major ONGC registered the most significant gains, with its valuation swelling by Rs 8,288.12 crore to Rs 3,07,430.48 crore.

3. IATA sees India airlines' 2010 loss $400 million The International Air Transport Association (IATA) expects Indian airline companies to narrow their combined loss to $400 million in 2010, Chief Executive Giovanni Bisignani said on Thursday. "Private Indian airlines are now reporting profits, or at least shrinking losses. In the face of major challenges, the Air India situation is also improving," Bisignani said.

4. Canara HSBC OBC Life Insurance to get Rs 100 cr cap infusion Aiming to increase its new premium income by 50 per cent, Canara Bank, HSBC Insurance and OBC will infuse another Rs 100 crore in their life insurance venture this fiscal to fund expansion. The company will launch one or two ULIP schemes and one traditional scheme over the next few months, but does not have any immediate plan for a pension product, Canara HSBC OBC Life Insurance CEO Harpal Karlcut told PTI here.

5. RIL puts out annual reports of 82 of 96 subsidiaries, still not unravelled many layers It was big, but secretive. It was clever, but complex. That was Reliance Industries Limited (RIL), India’s largest private sector company, when it came to organising its books of accounts and presenting them to the public. Even as it takes a big leap to become more transparent, all those attributes — in shades of black, white and grey — remain characteristic of RIL.

6. India bribed 72 nations to get Delhi CWG: Report India bribed 72 Commonwealth countries $100,000 each to get the hosting rights for the scandal-hit 19th edition of the Games which will start in Delhi from October 3-14, a media report claimed here on Thursday. A report in the Daily Telegraph claimed that Delhi pipped Hamilton in the bid after offering huge sums of money to the 72 Commonwealth countries during the final presentation in Jamaica.

7. Abbott says no job cuts in India due to Solvay integration US pharmaceutical major Abbott Laboratories, which took over Piramal Healthcare's formulation business in May this year, has said India will be unaffected by job cuts it has undertaken for integration of Solvey Pharmaceuticals.

8. Latest buzz in the Indian IT sector Tata Consultancy Services (TCS), India’s largest IT services exporter, has approached the Karnataka government seeking 100 acre in Bangalore to build a new facility. Wipro Technologies, the global IT services business of Wipro Limited, announced that it has been cited by IDC Research Inc., an independent research firm, as a leader among Tier-1 Testing Services Providers in a July 2010 report titled "IDC MarketScape : Global Testing Services, 2010 Vendor Analysis".

9. French court convicts Google and boss of defamation A Paris court has convicted US search engine giant Google and its chief executive Eric Schmidt of defamation over results from its "suggest" function, a French legal affairs website has revealed.

10. Indian IT firms will consolidate, focus on Europe, Asia-Pacific The Indian information technology sector is likely to witness heavy consolidation in the coming months as mid-size companies struggle to sustain growth amid a rising anti-outsourcing tirade in the United States.