Reliance in world investment report list
London: Reliance Industries Ltd (RIL) is the only chemicals industry from India to find a place in the World Investment Report (WIR) 2001 list of the top 50 transnational companies from developing countries around the world.
The report is published every year by the United Nations Conference on Trade and Development (UNCTAD).
Hutchison Whampoa Ltd of Hong Kong, with diversified industries, tops the list with total assets worth $48,157 million.
Reliance Industries, with total assets worth $6,733 million, was ranked 41 in the foreign assets ranking, and 47 in the transnationality index (TNI). The TNI is calculated as the average of three ratios: foreign assets to total assets, foreign sales to total sales and foreign employment to total employment.
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Talks on for IOC, ONGC, GAIL, IPCL merger
New Delhi: The government is considering a proposal to merge Indian Oil, Oil and Natural Gas Corporation, Gas Authority of India, and Indian Petrochemicals. If the proposal is implemented, it will create a mega corporation that will have an annual turnover of over Rs 150,000 crore.

The merger was being contemplated to create an integrated oil company with interests ranging from exploration and production to refining and marketing of petroleum and petrochemical products.

If approved, the new entity would have an equity base of about Rs 5,700 crore and annual profit in the range of about Rs 9,300 crore.
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TVS to launch 7 new models of two-wheelers
Bangalore: Two-wheeler major TVS is set to launch seven new models covering all segments of its products--motorcycles, scooters and mopeds.

The company is looking at markets in South Asia and South America. TVS already exports its moped and Scooty vehicle.
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Mars restaurants go global
Mumbai: The Sanjay Narang-promoted Mars Restaurants Pvt Ltd is considering setting up of 70 outlets under the trade names Dosa Diner and Roti over a four-year period in the US, the UK, the UAE and Singapore.

The company has decided to set up pilot restaurants in the US and the UK. ICICI Ventures Funds Management Company has recently picked up a 26 per cent stake in the company. The majority 74 per cent equity stake is jointly held by Mr Narang and his sister Ms Rachna.

The company operates 37 restaurants/outlets in Mumbai, Pune and Chennai under the trade names, Pizzeria & Pasta Bar, Just Around The Corner, Dosa Diner, Three Flights Up, Roti, Birdys, All Stir Fry and Tides.

Mars is also planning to grow domestically by opening its restaurant chains in other metro cities. It also plans to add two more brands to its table- Chat Bazar- a bhel puri joint - and Big Cupper - a coffee shop.

The company is also planning to tap the capital market later in the year.
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Hindustan Petroleum to introduce VRS
Mumbai: Hindustan Petroleum Corporation Ltd (HPCL) is working on a voluntary retirement scheme (VRS) for its employees. HPCLs VRS is on the same lines as that of oil major Indian Oil Corporation (IOC), which was the first public sector oil company to offer a VRS to its employees.

HPCL is largely targeting employees who are over 50 years of age. Majority of the employees at HPCL are in the 25 to 45 years age group.
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United India to join hands with hospitals
Chennai: United India Insurance Ltd is planning to introduce Uni Heart Care to provide risk cover to patients undergoing cardiac surgery. In case of death while undergoing surgery, the patients relatives or dependends would have the hospital expenses reimbursed. The patient or his relatives do not have to shell out any money to get the cover. The hospitals concerned would pay the premium amount.

The product has been approved by the insurance regulator and the company would roll out Uni Heart Care very soon.

United India is in tie-up talks with a slew of hospitals specialising in heart care for offering the novel insurance cover. The premium on the policy would depend on the track record of the hospitals and the number of patients undergoing surgery.
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Hindustan Latex adds products
Kochi: Hindustan Latex Ltd (HLL), leaders in the area of contraceptives and healthcare aids, has decided to add to its product range iron and folic acid tablets and oral rehydration salts, besides sanitary napkins. It has also relaunched its premium condom Share.

The company would be installing 25 electronic vending machines in New Delhi to provide contraceptives and health care aids.

The public sector company with an annual turnover of Rs 110 crore has been in the contraceptive business for the last 32 years. It had a direct market share of 25 per cent in the country and was the main supplier to the Central government. Its brand Nirodh sells over 200 million pieces.
It has embarked on a major social marketing drive in the rural areas of Jharkhand, Orissa and Bihar which would be funded by the European Community. It already runs such programmes in Andhra Pradesh and Madhya Pradesh which are funded by the European Community and in Uttar Pradesh, which is funded by US aid.
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Germanys Sigikid to enter Indian toy market
 Kolkata: German toy major Sigikid ,a Rs 700-crore toy and kids accessories company is ready to set up base in India. Planning to enter the Indian market through a JV with city-based Shockley Hall Electronics Private Limited (SHEPL), Sigikid plans to make the Indian facility an international production centre to supply to other markets apart from the domestic one. Initially the company is expected to take around 25,000 sq. ft of space in Salt Lake in Kolkata - where a Toy Park is being built on 2.5 acres of land - and begin production of dolls and soft toys.
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FIPB rejects Nestle export sop plea
New Delhi: The government has rejected Nestle India's plea seeking exemption of 50 per cent export obligation on outsourcing its branded sugar confectionary, pickles and chutneys from local small scale contract manufacturers.

The Foreign Investment Promotion Board (FIPB), while clearing Nestle's plans to outsource its products (which are reserved for the SSI sector) from local small scale players, clarified that the company will have to accept an export obligation of 50 per cent of the annual production.

The decision is likely to impact the business plans of the company in the area of sugar confectionary (lozenges, sweet meats, etc), pickles and chutneys.

Nestle India has a technological agreement with Nestle SA Switzerland and Nestec Ltd, Switzerland. Nestle India is a subsidiary of the Vevey-based Nestle SA. It manufactures food products and chocolates.
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Madura Garments to expand in W Asia
Kolkata: Madura Garments plans to open mega stores in the United Arab Emirates, Bangladesh and Sri Lanka. The companys brands such as Allen Solly, Louis Philippe, Peter England and Van Heusen are well positioned in West Asia.

Madura Garments, which is a division of Indian Rayon & Industries Ltd, notched a turnover of Rs 338 crore during the year ended March 31, 2001. In the first quarter of the current fiscal, the company has recorded a 20 per cent growth.

Indian Rayon & Industries Ltd -- through its wholly-owned global subsidiary Aditya Vikram Global Trading House -- acquired the global rights for Louis Philippe, Allen Solly (barring the US), Peter England (barring UK and Ireland) from Coates Viyella of the UK in December 2000 for a consideration of $ 2.26 million.
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