- Actimize to Provide Crédit Agricole Asset Management With Industry-Leading Brokerage Compliance By : Business News
A software solution to prevent financial fraud and market abuse from Actimize, a leading provider of transactional risk management software for the financial services industry and a NICE Systems (NASDAQ:NICE) company, has been selected by Crédit Agricole Asset Management (CAAM) in order to strengthen its ability to detect behaviour that could be interpreted as questionable and potentially considered as market abuse...... - Weddings in Cyprus By : George Georgiou
Located close to one of the most scenic coastlines in Cyprus, Paphos has fast become one of the most romantic destinations in Europe. Not only is Paphos the mythical birth place of the goddess Aphrodite (the goddess of love), but it is also one of the hottest destinations for weddings. People from all over Europe have started planning their weddings in Cyprus and in particular Paphos. Not only are weddings in Cyprus legally accepted in most European countries, but weddings in Cyprus turn out much cheaper when compared to weddings in European countries like the UK and France. - Weddings in Cyprus By : George Georgiou
Located close to one of the most scenic coastlines in Cyprus, Paphos has fast become one of the most romantic destinations in Europe. Not only is Paphos the mythical birth place of the goddess Aphrodite (the goddess of love), but it is also one of the hottest destinations for weddings. People from all over Europe have started planning their weddings in Cyprus and in particular Paphos. Not only are weddings in Cyprus legally accepted in most European countries, but weddings in Cyprus turn out much cheaper when compared to weddings in European countries like the UK and France. - Shoshone Silver’s Lakeview Mill in Operation By : Business News
Shoshone Silver Mining (OTCBB:SHSH) is pleased to announce that its Lakeview Mill has returned to operations. The mill is currently processing previously stockpiled material mined in the Lakeview District. Shoshone expects to continue processing... - Savvion Expands Business Operations in India By : Business News
Savvion®, the industry’s leading business process management company, announced today that it has expanded business operations in India, the second fastest growing economy in the world. - Baldwin Technology Schedules FY ’07 Third Quarter Earnings Release and Conference Call By : Business News
Baldwin Technology Company, Inc. (AMEX: BLD), a leading global manufacturer of printing press accessories and control equipment, announced today that it will release earnings for its FY ’07 third quarter ended March 31, 2007 on Thursday, April 26 before the market opens........... - Montpelier Re Holdings Ltd. Announces Nomination of Directors By : Business News
Montpelier Re Holdings Ltd. (NYSE: MRH) today announced that the Board of Directors has nominated Thomas George Story Busher, John D. Collins, John Roderick Heller, III and Ian M. Winchester to stand for election to the Board of Directors at the Annual General Meeting upon the recommendation of the Compensation and Nominating Committee........... - Report from Haldex AB’s Annual General Meeting on April 12, 2007 By : Business News
Dividend
The General Meeting resolved in accordance with the Board of Directors’ proposal, on a dividend of SEK 4.50 per share. April 17, 2007 was determined as the dividend record date............ - Mahindra and Mahindra sign LoI with Carraro Tech By : India Corporate News
Mumbai, Feb 14: Mahindra and Mahindra has signed a Letter of Intent (LoI) with Carraro Technologies India for sharing technology for manufacture of tractors.As per the agreement, Mahindra and Mahindra Farm Equipment Sector will use the 'Carraro 345' agricultural transmission technology in their new tractor range called "475 Deluxe". - Sasan stake sale being examined by PFC By : India Corporate News
New Delhi, Feb 14: The fate of the Sasan ultra mega power project hangs in fire as Power Finance Corporation, the nodal agency for UMPPs, is examining the change in ownership of Globeleq Singapore after it was acquired by Lanco and JSPL.Globeleq has announced that it has sold its entire 70 per cent stake in the Sasan project to Lanco Infratech and Jindal Steel and Power Ltd (JSPL). - FDI will help Indian tobacco growers: tobacco board chief By : India Corporate News
Guntur (AP), Feb 14: Foreign Direct Investment will only ensure fair price for Indian tobacco growers, Tobacco Board President J Suresh Babu has said."Indian tobacco is on par with Brazil tobacco in terms of quality," he told mediapersons last night while briefing them about his 14-day tour of Brazil and Zimbabwe to "understand the scenario" of tobacco. - Fitch places Hindalco's long-term ratings on negative watch By : India Corporate News
New Delhi, Feb 14: Rating agency Fitch today placed the National Long-term rating of Hindalco Industries Ltd on negative watch.The rating agency has also put the 'AAA(ind)'-rated Rs 500 crore non-convertible debenture programme on 'Rating watch Negative', Fitch said in a release here. - Spurious liquor seized, three arrested By : India Corporate News
Vellore, Feb 14: Three persons were arrested and 76 bottles of spurious liquor seized from them at Lakshmipuram road here.Police intercepted Selvaraj, Venkat and Pazhani who were carrying the liquor bottles on their bikes, during routine check and arrested them. - Acquisition of larger firms may soon be a trend for IT space By : India Corporate News
New Delhi, Feb 14: After Tata Steel's successful bid to acquire much-larger Anglo-Dutch steelmaker Corus, the trend of small companies acquiring larger firms could soon find its way into the Indian IT space, a new study shows.The domestic IT firms contemplating acquisition of some of the struggling IT services American or European firms larger than their own size could soon become a trend, a new Forrester report says. - War on inflation continues, wheat imports banned By : India Corporate News
New Delhi, Feb 14: As a measure to crackdown on inflation which has touched 6.5 per cent, the government has imposed a complete ban on export of wheat and allowed free imports of maize. - No higher offer for buying out Essar: Sarin By : India Corporate News
New Delhi, Feb 14: British telecom giant Vodafone today ruled out any higher offer for buying out Essar's 33 per cent stake in mobile venture Hutch-Essar, saying it would be same as that for Hutchison Telecom's stake.Vodafone will not increase its offer for Essar, the company's CEO Arun Sarin told PTI here, while adding that he would prefer the Indian conglomerate to stay put in the joint venture. - ING Vysya Life become 'public limited' company By : India Corporate News
Bangalore, Feb 14: ING Vysya Life today announced its conversion from 'private' to 'public' company.The Ministry of Company Affairs through the Registrar of Companies, Karnataka, has approved the change with effect from February 2, by issuing a fresh certificate of incorporation, an ING Vysya release said. - Zyme expands Bangalore operations By : India Corporate News
Bangalore, Feb 14: Analytic process outsourcing firm Zyme solutions today announced the opening of a second facility here.The new 8,000 sq ft facility would house data analyst operations across Zyme's businesses, a company statement said. - Cinemax lists at Rs 175 on BSE By : India Corporate News
Mumbai, Feb 14: Cinemax India today got listed at Rs 175 with a 12.90 per cent premium over its issue price of Rs 155 on the Bombay Stock Exchange. - Court restrains channel from telecasting serial on Veerappan By : India Corporate News
Chennai, Feb 13: A city court today restrained a private television channel from telecasting a serial on slain forest brigand Veerappan.The interim injunction was granted by an Asistant City Civil Court Judge Anandhi on a suit filed by Veerappan's widow V Muthu Lakshmi who sought to restrain Tamizhan Television from telecasting any advertisement or serial on her husband till disposal of the suit. - NTPC's Singrauli plant completes 25th year By : India Corporate News
New Delhi, Feb 13: State-run NTPC Ltd today said its Singrauli super thermal power station has completed 25 years of operation.The 2,000 MW station achieved an average Plant Load Factor of 82. - UCSSIC to be launched on Feb 15 By : India Corporate News
New Delhi, Feb 13: The United Nations Industrial Development Organisation Centre for South-South Industrial Cooperation (UCSSIC) will be launched here to enhance greater interaction between developing countries.The Centre would be launched on February 15 jointly by Commerce and Industry Minister Kamal Nath and United Nations Industrial Development Organisation Director General Kandeh Yumkella. - Jindal Steel and Power, Lanco acquire Globeleq Singapore By : India Corporate News
New Delhi, Feb 13: The Naveen Jindal-led Jindal Steel and Power along with Prince Stone Investments have acquired Globeleq Singapore Private Limited."Globeleq Ltd (Globeleq) has sold its entire holding in Globeleq Singapore Pte Limited to Prince Stone Investments Limited and Jindal Steel & Power Limited," Globeleq said in a statement today. - Nat Housing Bank signs MoC with School of Planning and Arch By : India Corporate News
New Delhi, Feb 13: National Housing Bank (NHB) today said it has signed a Memorandum of Co-operation (MoC) with the School of Planning and Architecture (SPA) for collaboration in areas of training and research in housing, integrated township development and low-cost housing.Under the MoC, the two institutions would work to conduct studies of housing in disaster prone areas, eco and tribal housing, building material and technology, NHB said in a release here. - Crisil puts Hindalco ratings in negative zone By : India Corporate News
New Delhi, Feb 13: Rating agency Crisil has put Hindalco's outstanding long-term stable rating of 'AAA' on 'Rating Watch with Negative Implications'.This has been done following the company's offer to buy 100 per cent equity of Novelis for 6 billion dollars as the proposed acquisition cost is significantly larger than the company's net worth of about Rs 9,500 crore (as at March 31, 2006), Hindalco informed the Bombay Stock Exchange. - Air India-Indian merger talks next week: Thulasidas By : India Corporate News
Mumbai, Feb 13: The Empowered Group of Ministers (EGoM) meeting to discuss the merger of Air-India and Indian is likely to be held next week, Air India Chairman Thulasidas said tonight."The EGoM meeting scheduled on Monday could not be held due to absence of some ministers and has been postponed to next week," Thulasidas told reporters here. - NGO, ad agency chip in to help HIV-positive women By : India Corporate News
Mumbai, Feb 13: After a study showed that almost 90 per cent of HIV-positive women were forced to leave their homes after their partner died, a NGO and an advertising agency have come together to create awareness about their problems.The NGO Breakthrough, which works for human rights, and Oglivy and Mather have joined hands for a campaign titled "Ye kaisa insaaf hai (what kind of justice is this)?" that will highlight the plight of women who are forced to fend for themselves after their partners dieof HIV-AIDS. - Tech Mahindra, Sitronics in partnership By : India Corporate News
Mumbai, Feb 13: IT solutions provider Tech Mahindra has entered into a partnership with a Czech Republic company, Sitronics Telecom Solutions to help telecom companies launch new services.Sitronics is a developer and producer of high-end communications equipment with bases in Central and Eastern European markets, while Tech Mahindra has a presence in Asia Pacific, according to a press release from the companies. - Euroceramics oversubscribed 3 times; Idea Cellular 3.81 times By : India Corporate News
Mumbai, Feb 13: The initial public offer of Euro Ceramics's IPO got oversubscribed 2.99 times on its last day of subscription, while Vijayeswari Textiles extended their their issue till February 19, instead of the earlier closing day of February 13. - VVF completes Rs 100-cr buyout of Colgate plant in Kansas By : India Corporate News
Mumbai, Feb 13: VVF Ltd, a leading Indian manufacturer of soaps, oleochemicals and homecare products, has completed the Rs 100 crore acquisition of Colgate's Kansas City plant in the US.The company, which makes products including those for consumer goods majors like Johnson & Johnson, Fa and Reckitt Benckinser, will use the plant to manufacture its full-line packaged cleaning products. - RSWM to make Mayur Suitings a Rs 300 cr entity in 3 yrs By : India Corporate News
New Delhi, Feb 13: Textile company RSWM Ltd, part of the Rs 2,500 crore LNJ Bhilwara Group, today said it is looking to treble its Rs 100 crore suitings brand 'Mayur' in the next three years, besides planning a foray in the ready-to-wear segment."Mayur today is a Rs 100 crore brand and we are looking to make it into a Rs 300 crore entity in the next two-three years," RSWM Joint Managing Director Riju Jhunjhunwala said here. - Citigroup to get 40-mn dollar commitment fee from Essar: report By : India Corporate News
London, Feb 13: Global banking giant Citigroup will pocket a whopping commitment fee of 40 million dollars (about Rs 180 crore) from Ruias-promoted Essar Group as part of a deal struck between the two for funding a deal to acquire Hutch-Essar, a media report said here today.Citigroup, which had agreed to lend 14 billion dollars to fund Essar's bid to buy out its Hong Kong based partner Hutchison Telecom in Hutch-Essar, would get this commitment fee in spite of the Indian conglomerate failing to take full control of its mobile phone joint venture, British daily 'Financial Times' quoted unnamed people familiar with the situation as saying. - WNS to invest 26 mn dollars across the country By : India Corporate News
New Delhi, Feb 13: NYSE-listed BPO firm WNS (Holdings) Ltd today said it will invest 26 million dollars in fiscal year 2007 for upgrade of its units across India."We have set aside 26 million dollars for capital expenditure. - ING Vysya Life becomes Public Ltd company By : India Corporate News
New Delhi, Feb 13: Private insurance company, ING Vysya Life today announced its conversion from private to public company, as per IRDA regulations.The Ministry of Company Affairs through the Registrar of Companies, Karnataka has approved the change with effect from February 2, 2007, by issuing a fresh Certificate of Incorporation, the company said in a release. - Govt confers 'navratna' status on PFC By : India Corporate News
New Delhi, Feb 13: A high level government panel has decided to accord 'navratna' status to Power Finance Corp (PFC), a move that will give the state-run firm greater operational freedom.The panel, headed by Cabinet Secretary B K Chaturvedi and comprising Power Secretary Anil Razdan, at a meeting today decided to confer the coveted status on PFC. - Acambis launches clinical trials of brain fever vaccines By : India Corporate News
Chennai, Feb 13: The UK-based pharmaceutical company, Acambis today launched clinical trial among children for its vaccine against brain fever or Japanese encephalitis.The company, in a press release, said this was the first time the vaccine, ChimefiVax, had been tested among children, who have the greatest risk from Japanese encephalitis (JE), in endernic regions. - TCI, Concor tie-up to provide logistics solutions By : India Corporate News
New Delhi, Feb 13: Logistics solutions provider Transport Corporation of India Ltd (TCI) today said it has tied-up with Container Corporation of India Ltd (CONCOR) to provide rail-road based logistics and warehousing services to customers.The two companies have signed a memorandum of understanding for establishing a long-term joint working group (JWG) for providing customised logistics solutions, TCI said in a statement. - Ranbaxy drugs listed by largest German health insurance firm By : India Corporate News
Mumbai, Feb 13: Home-grown pharma major Ranbaxy Laboratories today said products of its German subsidiary Basics GmbH (Basics) have been selected by 16 Allgemeine Ortskrankenkassen (AOK), Germany's largest General Local Health Insurance, for recommendation to patients.This new agreement, listing specific products, applies to 43 molecules or combination drugs in all and the total expenditure volume for these medicines amounts to 1. - Sanwaria Agro Oils to invest Rs 40 cr in Madhya Pradesh wind power plant By : India Corporate News
Mumbai, Feb 13: Edible oil company, Sanwaria Agro Oils Ltd will be investing Rs 40 crore to establish a wind power plant in Madhya Pradesh.The investment will be made in two phases - Rs 15 crore in the first phase and Rs 25 crore in the second, a company release said here today. - Kotak Mahindra launches close-ended equity growth scheme By : India Corporate News
Mumbai, Feb 13: Kotak Mahindra Mutual Fund (KMMF) has launched a new three-year close-ended equity growth scheme called Kotak Emerging Equity Scheme.The investment objective of the scheme is to generate long-term capital appreciation from a portfolio of equity and equity-related securities, by investing predominantly in mid-and-small cap companies, a press release issued here today stated. - Jagapati waiting for the right script By : India Corporate News
By B. Anuradha, Hyderabad, Feb 14: Telugu star Jagapati Babu, who bounced back into the reckoning with back-to-back hits "Saamaanyudu" and "Pellaina Kottalo", is not in a hurry to cash in on his newfound success. - JSPL joins Lanco in Sasan ultra mega power project By : India Corporate News
New Delhi, Feb 13: Globeleq today said Jindal Steel & Power Ltd (JSPL) along with Lanco Infratech has acquired its 70 per cent stake in Sasan, ending month-long speculations about the British power investment firm's stand on the ultra mega power project."Globeleq Ltd (Globeleq) has sold its entire holding in Globeleq Singapore Pte Limited to Prince Stone Investments Limited and Jindal Steel & Power Limited," Globeleq said in a late night statement today. - Bank of India to set up branches in Dhaka By : India Corporate News
Kochi, Feb 13: Public sector Bank of India has received approval from the Reserve Bank to set up branches at Dhaka, Dubai, a subsidiary in Canada, a top bank official today said.Besides, the Mumbai-based bank has also got permission for opening representative offices at Dubai and Doha, he said. - Afcons Infra open to acquisition for global positioning By : India Corporate News
Kolkata, Feb 13: Afcons Infrastructure Limited (AIL), a Shapoorji Pallonji group company engaged in infrastructure projects today said it was looking at acquisition of assets to strengthen its position in the global market."We want to grow more in the overseas market and to acquire construction assets and companies to execute our projects," AIL Managing Director K Subrahmanian said. - ESLL to buy back Essar Shipping shares; floor price at Rs31.62 By : India Corporate News
Mumbai, Feb 13: Essar Shipping and Logistics Limited (ESLL) today said it will buy out the remaining 23.54 per cent stake from the non-promoters and public shareholders of Essar Shipping, the floor price for which has been fixed at Rs 31. - Open-Plug, Jataayu Software sign licence agreement By : India Corporate News
Bangalore, Feb 13: Open-Plug, a supplier of mass market software platforms for the handset industry, and Bangalore-based Jataayu Software, a vendor of mobile terminal and VAS infrastructure solutions, today entered into a licence agreeement.Jataayu Software products, including browsing and messaging applications, will be available to handset markers directly from Open-Plug as part of the leading-edge ELIPS open platform for mass market phones, it said in a release. - JSPL acquires 40 pc stake in Globeleq; Sasan project on track By : India Corporate News
New Delhi, Feb 13: In a move that would further strengthen the Globeleq-Lanco consortium for the Sasan ultra mega power project, Jindal Steel and Power Ltd (JSPL) has acquired 40 per cent of the equity holding of Globeleq Singapore Pte Ltd (GS).Globeleq-Lanco consortium is the successful bidder for the 4,000 MW Sasan project, while JSPL is a pre-qualified bidder for the Sasan UMPP. - UBI ties up with Franklin Templeton By : India Corporate News
Kolkata, Feb 13: United Bank of India has tied up with Franklin Templeton Investments (India), a mutual fund house for distribution of its products through the bank's branches.UBI Chairman and Managing Director P K Gupta said: "With the signing of this agreement, the bank has taken yet another step toward offering a holistic financial solution to the diverse financial needs of customers. - SBI Bangalore circle implements 100 per cent CBS By : India Corporate News
Mumbai, Feb 13: The State Bank of India (SBI) today announced 100 per cent implementation of core banking solution (CBS) in Bangalore circle, covering entire Karnataka.The total number of branches covered under CBS is 328 with Karnataka being the third circle of SBI, where all branches are on CBS, a press release issued here stated today. - Bajaj eyes Rs 10,000 cr turnover; focus on bigger bikes By : India Corporate News
New Delhi, Feb 13: Betting big on returns from the performance bike segment, leading two and three wheeler maker Bajaj Auto Ltd today said it was targeting to cross the Rs 10,000 crore turnover mark this fiscal with sales of 2.8 million vehicles. - Karuna to inaugurate welfare schemes for farmers on Feb 22 By : India Corporate News
Chennai, Feb 13: Tamil Nadu Chief Minister M Karunanidhi will inaugurate schemes for farmers' welfare at a function to be held at Thanjavur on February 22.The farmers' families would receive financial assistance for higher education, marriages and during pregnancy under the schemes, an official press release said today. - Norway's Orkla Group acquires MTR Foods for USD 100 million By : India Corporate News
Bangalore, Feb 13: Norway's Orkla Group has acquired Bangalore-based processed vegetarian food products major MTR Foods, in a USD 100 million deal, officials said."The deal is through. - Arun Balakrishnan new HPCL CMD By : India Corporate News
New Delhi, Feb 13: Arun Balakrishnan will be the new Chairman and Managing Director of Hindustan Petroleum Corp Ltd.Orders appointing Balakrishnan, who currently is the Director (human resources) in HPCL, as the head of India's second largest oil firm with effect from April 1, 2007, were issued this week. - KFCC submits memo to Governor, takes out protest march By : India Corporate News
Bangalore, Feb 13: Expressing their "solidarity" with the people of Karnatraka, the Kannada film industry led by leading actors today staged a protest march to Raj Bhavan against the award of the Cauvery Waters Dispute Tribunal.A ten-member delegation including matinee idol Vishnuvardhan, Karnataka Film Chambers of Commerce President Tallam Nanjunda Shetty, Vice-President Sa Ra Govindu, film producer and wife of thespian late Rajkumar, Parvathamma Rajkumar submitted a memorandum to Governor T N Chaturvedi. - Tata AIG Life to open 120 more branches by August By : India Corporate News
Mumbai, Feb 13: Tata AIG Life Insurance Company Ltd (Tata AIG Life) will open 120 full-service branches across the country as part of its accelerated expansion plans.The branches will be operational by August 2007, a release issued here today stated. - HCL forms strategic alliance with Canada's Eckler By : India Corporate News
New Delhi, Feb 13: IT services company HCL Technologies today said it has entered into a strategic partnership with Canada-based insurance company Eckler to strengthen its insurance domain expertise.Under the alliance, HCL and Eckler will work together on various actuarial consulting and implementation projects across the globe, a company statement said here. - Bank of Rajasthan increases interest rate on term deposits By : India Corporate News
Mumbai, Feb 13: Private sector Bank of Rajasthan (BoR) today said it has revised the interest rate on its term deposits with effect from last Saturday.For deposits below Rs 15 lakh, the interest rate for deposit of one year to less than three years will be 8. - CLB adjourns hearing on Birla Corporation case By : India Corporate News
New Delhi, Feb 13: The Company Law Board has adjourned to the second week of May, hearing on a case filed by minority shareholders of Birla Corporation alleging irregularities by the R S Lodha-controlled management.The petitioners, who have sought changes to their original petition against the company's management, have also demanded a probe into the shareholding pattern of the late M P Birla's company. - NDTV Group appoints K V L Narayan Rao as CEO By : India Corporate News
New Delhi, Feb 13: Private news broadcaster, NDTV Group today announced the appointment of K V L Narayan Rao as the Cheif Executive Officer.In his new role, Rao would oversea the businesses of the NDTV Group in India and worldwide, NDTV said in a statement. - DLF says its IPO on track By : India Corporate News
New Delhi, Feb 13: Real estate giant DLF, which revived its process of entering the capital market last month to raise Rs 13,600 through its Initial Public Offer, today said its IPO plan is on track and the company was waiting for market regulator SEBI's approval.While accepting that it has received certain queries regarding the public issue, a company spokesperson said it was a normal process and the company is accordingly replying to these queries. - GAIL CMD reviews pipeline projects By : India Corporate News
New Delhi, Feb 13: State-run gas utility GAIL's new chairman and managing director U D Choubey recently undertook an exhaustive review of the construction work on two crucial pipelines that will transport regassified-LNG to the beleagured Dabhol power plant.Choubey, accompanied by director (projects) Santosh Kumar, reviewed progress of the 474-km Dahej-Uran pipeline (DUPL) and the 322-km Dabhol-Panvel pipeline (DPPL) projects that will transport R-LNG from Petronet LNG's Dahej import terminal to the Dabhol project in Maharashtra from June 2007. - Reliance Capital picks 6 pc stake in GBN By : India Corporate News
New Delhi, Feb 13: Anil Ambani group company Reliance Capital has acquired over six per cent stake in Global Broadcast News Ltd (GBN), which operates the channels CNN-IBN and IBN7, for an estimated Rs 87 crore.Reliance Capital acquired 16. - Ashok Leyland joins race for picking up stake in PTL By : India Corporate News
New Delhi, Feb 13: The flagship company of the Hinduja group, Ashok Leyland has joined the race to acquire stake in Punjab Tractors Ltd (PTL)."Yes We have bid for both Actis' and Burman's stake in Punjab Tractors," Ashok Leyland Managing Director R Seshasayee said here. - CROSS CURRENCY RATES - THOMAS COOK By : India Corporate News
Mumbai, Feb 13: Rupee Exchange Rates for today issued by Thomas Cook (I) Ltd.(In rupees per unit of the currency) ------------------------------------------------------------- Currencies Buying Selling -------------------------------------------------------------- U. - FOREX - Hongkong and Shanghai Banking Corporation By : India Corporate News
Mumbai, Feb 13: Following are the Foreign Exchange rates quoted by the Hongkong and Shanghai Banking Corporation here today.(All rates in rupees per unit) Currency T. - TCS opens joint venture in China By : India Corporate News
Anil K Joseph, Beijing, Feb 13: India's top IT company, Tata Consultancy Services (TCS) today launched a joint venture in China and announced securing a major contract with the prestigious China Foreign Exchange Trade System under the Chinese central bank.The joint venture, christened Tata Consultancy Services (China) Co. - Hutchison to gain from India sell-off; no impact on rating: Standard and Poor By : India Corporate News
New Delhi, Feb 12: Global rating agency Standard & Poor's today said Hong Kong-based Hutchison Whampoa would benefit from its proposed asset disposal in India through positive impact on its net debt and liquidity position, while there should be no immediate impact on its credit rating.Hutchison Whampoa's 49 per cent-owned associate Hutchison Telecom International (HTIL) plans to dispose of its entire 67 per cent interest in India-based mobile operator Hutch Essar for a cash consideration of 11. - Ranbaxy launches atorvastatin in Denmark By : India Corporate News
New Delhi, Feb 12: India's largest drugmaker Ranbaxy Laboratories Ltd today said it has launched atorvastatin, the generic version of Pfizer's cholesterol-lowering drug Lipitor, in Denmark."The introduction of Atorvastatin in Denmark is a significant milestone in Ranbaxy's atorvastatin strategy and heralds the beginning of the company's determined efforts to bring affordable atorvastatin to patients in Europe and other parts of the world," Ranbaxy CEO and Managing Director Malvinder Mohan Singh said in a statement. - No displacement of villagers in Panvel, Pen and Uran: MSEZ By : India Corporate News
Mumbai, Feb 12: Reliance Industries-promoted Mahamumbai SEZ Pvt Ltd today said that there would be no displacement of villagers in Panvel, Pen and Uran talukas of Raigad district while developing the SEZ."No village (gaothan) will be acquired while developing its SEZ in Panvel, Pen and Uran talukas of Raigad district in Maharashtra," a company spokesman said here in a statement. - Idea Cellular IPO opens; Mindtree, Mudra fully subscribed By : India Corporate News
Mumbai, Feb 12: The initial public offer of Idea Cellular, an Aditya Birla Group company, opened today for subscription.Idea Cellular has entered the capital market with an issue of 32. - CVC, Goldman Sachs to pump in USD 52 mn in ICSA By : India Corporate News
Mumbai, Feb 12: Hyderabad-based ICSA (India) Limited, at its extra-ordinary general meeting today, has approved USD 52-million foreign investment into the company.Citigroup Venture Capital International Growth Partnership Mauritius Limited (CVC) and global investment banking major Goldman Sachs will be pumping in USD 30 million and USD 22 million respectively into ICSA, a release issued here said. - Sebi imposes Rs five lakh fine on Mayur Jadeja for non-compl By : India Corporate News
Mumbai, Feb 12: Market regulator Sebi today imposed a fine of Rs five lakhs on Mayur Jadeja, a stock broker, and ordered suspension of the certificate of registration of Ballabh Das Daga, a Calcutta Stock Exchange member on separate charges of price manipulation and evading Sebi rules.Jadeja was fined for,"failure to furnish information to the Investigation Officer of Sebi in response to statutory summons issued earlier," regarding selling of a large number of Alka India Ltd(AIL) shares in July-August 2003, Sebi said. - NCDEX modifies gold and silver contracts By : India Corporate News
Mumbai, Feb 12: The National Commodity and Derivatives Exchange Ltd (NCDEX) has introduced the tender period of five working days during trading hours prior to and including the expiry date of the contract for the settlement of gold one kg and silver 30 kgs contracts.The modified specifications would be applicable to contracts expiring in May 2007 and thereafter. - MSP for Toria remains unchanged By : India Corporate News
New Delhi, Feb 12: Government today retained the minimum support price for toria, a mustard type oilseed having lower oil content, at the last year's level of Rs 1,680 per quintal.Toria is cultivated mainly in Uttar Pradesh, Rajasthan and Punjab. - Government is "biased" against us: Motorola By : India Corporate News
New Delhi, Feb 12: Motorola has accused the government of taking a "biased approach" against the US-based mobile major for disallowing it from bidding in the Rs 20,000 crore BSNL project for expansion of 45 million lines of GSM network.Senior advocate Anil Diwan, appearing for Motorola, said the Centre's policy shows "favouritism" toward other companies and the decision pertaining to debarring it from the bidding was an arbitrary one. - Malaysia Airlines launches new scheme for Indian travellers By : India Corporate News
New Delhi, Feb 12: Malaysia Airlines today launched a scheme for the Indian market, under which a traveller purchasing a business class ticket would be entitled to get 80 per cent waiver on the next business class ticket to Kuala Lumpur and Singapore.This new scheme is valid till March 31 and would be effective from the carrier getaways of Delhi, Chennai, Bangalore and Hyderabad, the company said in a statement. - ICSA raises 52 mn dlrs through pvt placement By : India Corporate News
New Delhi, Feb 12: Hyderabad-based electrical infrastructure solutions company ICSA Ltd today said it has raised 52 million dollars (about Rs 234 crore) through private placement and FCCB issue.Mauritius-based Citigroup Venture capital International (CVC) has picked up 14 per cent stake in ICSA for 30 million dollars, while Goldman Sachs has invested 22 million dollars in the company through FCCBs, ICSA said in a statement. - Hathway partners with Oracle for customer service improvement By : India Corporate News
New Delhi, Feb 12: Cable TV services company, Hathway today said it has chosen Oracle application to improve customer service and reduce operating cost.The Oracle application would help Hathway manage data effectively across all its lines of businesses and to minimise quality defects by enforcing strict compliance, Hathway said in a statement. - Syngenta India Q4 net plummets 61 pc at Rs 13.7 cr By : India Corporate News
Mumbai, Feb 12: Syngenta India, engaged in agri-business, today posted a 61.70 per cent slump in net profit at Rs 13. - GETIT Yellow pages to expand activities By : India Corporate News
Tiruchirapalli, Feb 12: GETIT Informediary Ltd, producer of telephone directories, is planning to expand operations and increase its presence to 100 cities across the country from the current 32.Getit's services would now be available in Udaipur and Kota in Rajasthan, Jalandar and Amristar in Punjab, Thrissur and Kottayam in Kerala and Vijayawada, Nellore, Tirupati, Visakhapatanam and Hyderabad by March 2008, company Chief General Manager Sales K D Kini told PTI. - Bajaj Allianz eyes Rs 5,000 cr turnover in current fiscal By : India Corporate News
Jalandhar, Feb 12: Private life insurance company Bajaj Allianz is eyeing a growth of at least 70 per cent in its turnover in the current fiscal to achieve the figure of Rs 5,000 crore."Last year, the company's turnover was Rs 3,170 crore and this year we have set a target of Rs 5,000 crore, with growth of about 70 per cent," Bajaj Allianz CEO Sam Ghosh told reporters here. - Three MoUs signed between Italian and Indian firms By : India Corporate News
Kolkata, Feb 12: Three Memoranda of Understandings (MoUs) have been signed between Indian and Italian firms in the areas of power, leather and food today.Magaldi Power entered into an agreement with DCIPS for granting an exclusive license for selling Magaldi dry bottom ash extraction system for the state of West Bengal and three other projects in the country, the duration of agreement being 10 years. - Lotus launches mid-cap, contra fund, to launch 7 funds by Mar By : India Corporate News
Mumbai, Feb 12: Lotus India AMC today announced two new fund offers - the Lotus India Contra Fund and Lotus India Mid Cap Fund - to add to its gamut of five existing funds.The company, a joint venture between Fullerton Fund Management and Rana Talwar headed Sabre Capital Worldwide, plans to introduce seven more fixed maturity funds by March to take the total number of funds to 14, Lotus India CEO Ajay Bagga told reporters. - HCL ISD releases "Blackbook" on remote infrastructure mgmt By : India Corporate News
Mumbai, Feb 12: Leading IT services company HCL Technologies' Infrastructure Services Division (ISD) has released a "Blackbook" on Remote Infrastructure Management (RIM), a business titled as the third wave of outsourcing after application development and business process outsourcing by Nasscom.RIM consists of remote (outside the physical premises of a company) monitoring and managing the infrastructure components and taking proactive steps and remedial actions across the IT landscape. - eInfochips opens another design centre in Ahmedabad By : India Corporate News
New Delhi, Feb 12: Electronic design services provider, eInfochips today said it has set up its sixth design centre in the country.The new centre in Ahmedabad would focus on complex chip design and verification and product design services for consumer multimedia applications and would house more than 140 engineers, eInfochips said in a release here. - Essar JV to set up USD 527 mn steel plant in Vietnam By : India Corporate News
New Delhi, Feb 12: Essar Steel today said it has joined hands with two state-run Vietnamese companies for setting up a two million tonne steel plant in southern Vietnam at a cost of 527 million dollars (about Rs 2371.5 crore). - Canara Bank hikes term deposits rates up to 0.50 pc By : India Corporate News
New Delhi, Feb 12: Canara Bank today increased interest rates on term deposits by 0.25-0. - Italian fund to strengthen SME ties with India By : India Corporate News
Kolkata, Feb 12: The 'Go India' fund, set up by seven Italian banks, would help strengthen ties between small and medium enterprises (SMEs) of the two countries, Italy's Minister for International Trade Emma Bonino said today.Briefing reporters at the sidelines of an investment seminar here, Bonino said the Euro 300 million-fund would focus on the specific SME sectors and would facilitate business promotion between the two countries. - GHCL all set to dominate global home textile space By : India Corporate News
Mumbai, Feb 12: GHCL today said it has acquired US-based Best Manufacturing Group for USD 35 million through its international subsidiary GHCL Inc, a move which would place the company as one of the dominant player in the home textile space globally.In a communique to the BSE, GHCL said the total acquisition would be funded by existing lenders of Dan River and not through its current cash flows. - AIADMK workers stage demo By : India Corporate News
Coimbatore, Feb 12: Demanding speedy functioning of the Railway Division in Salem, nearly 2,200 AIADMK workers staged a demonstration in the city today.The demonstration, led by senior party leader, K. - PVR plans to tie-up with Austria-based drink maker Red Bull By : India Corporate News
New Delhi, Feb 12: PVR Cinema is planning to tie up with Austria-based energy drink maker Red Bull in order to woo working executives with special facilities, like drink and snacks, at no extra cost."We would introduce one such show, specifically meeting the needs of the working executives, in the next six weeks and are already in talks with energy food and drink companies including Red Bull, Dabur and Revital for sponsorship," PVR Cinema's Chief Marketing Officer Gautam Dutta told PTI. - Police probe Andhra newsreader's murder By : India Corporate News
Hyderabad, Feb 12: The Andhra Pradesh Police have initiated a probe into the mysterious murder of a Telugu TV channel newsreader in Vijayawada, police officials said here Monday. Police suspect that B. - Jaya condemns arrests of party activists By : India Corporate News
Chennai, Feb 12: AIADMK general secretary Jayalalithaa has condemned the arrests of her partymen when they attempted to open gruel centres for "poverty-stricken" weavers in various parts of Tamil Nadu.In a statement, she said "filing of cases against partymen under harsh provisions of Criminal Law (Amendment) Act, has made many wonder whether the state is under a dictator. - Tamil Nadu Minister joins issue on official's suicide By : India Corporate News
Chennai, Feb 12: Asserting that there was no pressure on officials with regard to meeting the expenses incurred during the visits of ministers to districts,Tamil Nadu Local Administration Minister M K Stalin said the Deputy Director of Panchayats,Dharmapuri, Govindasamy had committed suicide due to lack of sleep and food.Denying AIADMK chief Jayalalithaa's allegations that the official committed suicide because he was pressured by the Dharmapuri District Collector to meet the expenses of his visit to Dharmapuri tomorrow,Stalin said the official in his suicide note had not mentioned his name at all. - Gold remains steady in small deals; silver falls By : India Corporate News
New Delhi, Feb 12: Gold prices remained unchanged on the bullion market today in scattered small deals, while silver plunged on lack of support and closed lower by Rs 100 at Rs 20,100 per kilo.Trading activity remained restricted as most of the purchases by retail customers for the current marriage season was over, which kept the price pegged at last level of Rs 9550 per 10 gram. - Oracle acquires 82.92 pc shares in i-flex through open offer By : India Corporate News
Mumbai, Feb 12: Oracle Corporation today said it has acquired 28.03 per cent shareholding in i-flex as against the proposed 34. - Toyota plans USD 429 mn investment on small car plant: report By : India Corporate News
New Delhi, Feb 12: Japanese car major Toyota Motor Corp is reported to be planning an investment of USD 330 to 420 million (about Rs 1,890 crore) for setting up a small car plant near its existing facility in Bangalore.A report from Tokyo by AP quoting Japan's Nikkei business daily said the new plant, Toyota's second Indian manufacturing facility, will have an initial capacity of 1,00,000 cars a year. - Vodafone shares surge in early trade By : India Corporate News
London, Feb 12: Investors today welcomed Vodafone's decision to enter the world's fastest growing mobile market through acquisition of Hutch-Essar, as they pushed shares of the British telecom giant up by over one per cent on the London Stock Exchange within the first few minutes of trading.Vodafone shares gained two pence at 151. - Vodafone, Ruias differ on offer of partnership By : India Corporate News
London/Mumbai, Feb 12: After clinching the Hutch- Essar deal, Vodafone is going all out to persuade Essar to sell its stake in the venture, contrary to the Ruia-promoted Group's claim that it was offered partnership by the UK giant.While announcing it would acquire Hong Kong-based Hutchison Telecom's stake in the Indian mobile firm, Vodafone also offered to buy out Essar from the venture at the same price as that for shares of HTIL. - GHCL acquires US based Best Manufacturing Group for USD 35 mn By : India Corporate News
Mumbai, Feb 12: Diversified company GHCL, part of the Dalmia Group, today said its step down subsidiary Best Textiles International in USA has acquired assets of Best Manufacturing Group LLC (BEST) for 35 million dollars.Best Manufacturing Group has an annual turnover of 160 million dollars and is the leading manufacturer and distributor of home textiles and items for hospitality and healthcare sector in the US, GHCL said in a statement to the Bombay Stock Exchange.
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