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Volkswagen
to enter Indian car market
Wolsburg:
The German auto giant Volkswagen is all set to make an entry into
India with the launch of its Skoda brand of cars this year.
The company is expected to roll out 200 cars initially in
semi-knocked down basis and imported kits would be assembled in
Aurangabad.
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Nissan
to make forays into India
New Delhi:
Nissan is all set to enter the Indian market with an array
comprising luxury saloons and sports utility vehicles. Initially,
Nissan has decided to steer in through the CBU (completely built
unit) window into India. It has also finalised the sports utility
vehicle X-Trail as its entry model, to be followed in quick
succession by the D-segment luxury saloon Primera and the
super-luxury offering Infiniti Q45.
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Enron
to exit from LNG venture
Mumbai:
US energy major Enron has decided to quit the shipping venture
Greenfield Shipping Company for 'Laxmi', the Liquified Natural Gas
carrier which is expected to reach the Indian shores on November
15.
The Shipping Corporation of India has a 20 per cent stake in the
$220 million project while Mitsui O S K Lines holds 60 per cent
and the balance rests with Atlantic.
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A-I,
IA on major cost-cutting spree
New
Delhi: The civil aviation ministry has ordered cancellation of
3,000 free passes on Air-India and Indian Airlines that were
mostly given to ministers, politicians, diplomats and foreign
travel writers.
An Indian Airlines official said: "Complimentary passengers
were allowed only when there was space on the flight. So it meant
no additional cost for us."
Special concessions under the "frequent flyer" programme
in both airlines will also be reduced, the IA official said. Both
airlines were expecting a slight increase in ticket bookings
during the festival season, but the sales have been disappointing.
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Reckitt
barred from using Dettol vs Betadine ad
New
Delhi: MRTPC has pulled up Reckitt Benckiser India for alleged
unfair trade practice in publishing advertisements giving
comparisons of its product 'Dettol' with 'Betadine solution' of
Win Medicare and directed the company to restrain from doing so
forthwith.
Asking Reckitt to restrain from publishing the same or similar ads
till the disposal of the petition filed by Win Medicare, a bench
comprising MRTPC chairman C M Nayar and member R L Sudhir said
"the application for grant of an ad interim injuction
deserves to be and is hereby accepted."
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Italian
wines to enter Indian market
New
Delhi: Italian wines are heading for India to capture a slice
of the 5.5 million dollar wine market, which is growing at an
annual rate of over 30 per cent.
Premium wine brands like Zonin, Pasqua, Masi, Poli and Banfi have
set their eyes on India. Wine manufacturer Zonin, which is the
largest private wine company in Italy, this month introduced 12-14
wines in India.
Initially Zonin, which produces 50 different types of wines, would
be targeting upscale hotels in Delhi and Mumbai and would spread
to other metro locations next year.
Another company eyeing Indian market is Pasqua, which produces the
world famous Amarone red wine.
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MTNL
to start paging services
New
Delhi: Mahanagar Telephone Nigam Ltd will expand its paging
services on commercial basis in Delhi and Mumbai.
MTNL has already announced its plans to enter cable TV market in
the current fiscal for which it has started negotiations with
local cable operators and would be applying for licence soon.
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Monto
Motors to launch Chinese bikes
New Delhi:
Monto Motors, the first Indian company to sell imported Chinese
motorcycles after the relaxation of import restrictions, will
launch these motorcycles nationwide by January next year.
The 100cc and 125cc motorcycles brandnamed 'Cosmo Blaster' and
'Cosmo Soljier' have been priced at Rs 32,000 and Rs 44,000
(Ex-showroom Delhi) respectively.
The four-stroke motorcycles have features like remote start,
die-cast wheel, disc brakes and anti-theft alarm.
The Delhi-based firm, best known for its Avanti Garelli moped
brand, has tied up with 'Lifan', a leading Chinese company to
import these motorcycles in completely knocked down condition and
assemble them at its plant in Alwar (Rajasthan).
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Bajaj
Auto, Allianz launch life insurance
Pune:
Allianz, one of the world's leading financial services groups,
and Bajaj Auto, have announced the launch of their life and
general insurance operations.
Bajaj Allianz General Insurance company with a paid up capital of
Rs 110 crore, offers technical excellence in all area of general
and health insurance and risk management. The product portfolio of
the Bajaj Allianz currently includes tariff and non-tarrif
products.
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Ravva
consortium to invest Rs 350-cr
Mumbai:
The consortium of oil companies operating the Ravva oil and gas
fields in the Bay of Bengal, off the coast of Andhra Pradesh, has
decided to make fresh investments of $150 million (Rs 350 crore)
to enhance oil recovery.
The consortium comprise Oil and Natural Gas Corporation (ONGC),
which holds a 40 per cent stake, Videocon Petroleum (25 per cent),
operator Cairn Energy of the UK (22.5 per cent) and Marubeni-owned
Ravva Oil (Singapore) which holds the remaining 12.5 per cent
stake in the oil field.
The Ravva oil field consortium has already pumped in more than
$300 million into the project.
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Murdoch
calls off bid for Hughes Electronics
New York: Rupert Murdoch's News Corp has decided to
withdraw its proposal to take over satellite television company
Hughes Electronics.
This leaves Hughes' rival EchoStar Communications which was
believed to be offering as much as $31.5 billion in stock and
cash, as the only remaining party negotiating with GM and Hughes.
Littleton, Colorado-based EchoStar is offering 0.75 a share for
each Hughes share, and is believed to be lining up as much as $5.5
billion in cash from a credit lines supplied by UBS Warburg and
Deutsche Bank.
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Modi
Tour acquires franchise rights
New Delhi:
The Modi Group-owned Modi Tour Services has acquired the US-based
Uniglobe Group's master franchise rights to operate in India and
neighbouring countries.
The Uniglobe group is the
world's largest single-brand travel franchise organisation with
1,100 locations in more than 20 countries in North and South
America, Europe, South-East Asia, Africa and West Asia.
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Meridien
draws up expansion plans
Chennai:
Le Meridien Hotels and Resorts plans to add 10-12 hotel properties
in India in the next four years. Meridien will follow the
management contract route for its proposed additions in India. At
present, Le Meridien has six properties in India, all managed by
it.
The Le Meridien chain was
recently acquired by the Japanese bank Nomura.
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