AOL Time Warner in talks for stake in Zee
New Delhi: AOL-Times Warner is in talks with Zee Telefilms for a 26 per cent stake.

The Zee group is also exploring placement options with other media groups such as Vivendi of France and US-based Viacom. The Zee group is looking at setting up a separate joint venture to undertake specific projects with AOL-Time Warner.

The price being quoted for the deal is pegged between Rs 175 and 185 per share.

Zee has been looking for a foreign partner after it was forced to abandon an ambitious American Depository Receipt issue last year. It had earlier appointed WBS Warburg to scout for a strategic partner.
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Infosys, Apna Bazar, VCCI bag Bajaj award
Mumbai: Technology major Infosys Technologies, retailer Apna Bazar, and Vadodara Chamber of Commerce and Industry were among those which bagged the prestigious Jamnalal Bajaj awards for fair business practices in Mumbai on Saturday.

The Bangalore-based Infosys Technologies Limited received the trophy in the category of large manufacturers from vice president Krishan Kant. Sakhti Trading Company, Erode, manufacturing turmeric powder, got the trophy in the medium manufacturer category while Sol-Ray Appliances, a Pune-based company manufacturing extensive range of water heaters, bagged the award in the small manufacturing category.
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Sony to introduce laptops, PDA in India
New Delhi: Sony plans to introduce its world-famous robot "Aibo" as well as mobile phones, laptops and PDA computers to India as part of major expansion drive.

The company is already selling colour televisions and audio products in the Indian market via its wholly-owned arm Sony India and is also keen to launch as many as 50-60 new products next year.
Between 50-60 new Sony products will also hit the Indian market next year. While most of these will be upgradations/replacements of existing models, some will be new products.
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RIL interested in DPC through BSES
Mumbai: Reliance Industries is showing interest in the acquisition of embattled US energy major Enron's Dabhol Power Company through BSES, in which it is the largest stakeholder. RIL's interest in the project is apparent by the fact that a senior official of Reliance Power had accompanied BSES chairman and managing director R V Shahi at the crucial three day meeting held in Singapore last month by the Indian financial institutions. Though not directly involved in the bidding process, Reliance Power vice-president J P Chalsani, along with Shahi, participated in the marathon discussions for the proposed "distress sale of the DPC.
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Essar Oil to invest $30m in Rajasthan
Mumbai: Essar Oil will invest close to $30 million in exploration and development of its Rajasthan Oil and gas block.

Essar Oil is planning drilling of second exploration well as part of the third phase of exploration in exploration block RJ-on-90/5. The company is planning 15-20 development wells over two years to develop reserves that could be as large as 150 million barrels.

Essar Oil had signed a production-sharing contract for two blocks in 1996 with the Government and Oil India. Essar Oil, the operator, has 75 per cent and Polish Oil and Gas 25 per cent of the contract.
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Grasim to encash on marriage season
Mumbai: Grasim Suiting, an Aditya Birla group company, has come out with a Grasim Shubh Vivah Offer to cash in on the marriage shopping. Grasim Suiting has identified more than 50 top retail outlets of Delhi, Punjab and western UP to reflect the colour and mood of the wedding season.

Along with the exclusive packaging that Grasim has created for the wedding suitings, there is a whole lot of surprise gifts for the bride as well as the family. The company has targeted sales worth Rs 1 crore via this offer.
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Sumitomo to start wholesale trading
New Delhi: Sumitomo Corporation of Japan has received the approval of Foreign Investment Promotion Board (FIPB) to undertake cash and carry wholesale trading in India.

Sumitomo Corporation will be the third Japanese trading giant after Mitsui & Company and Nissho Iwai Corporation to start wholesale trading activity in India.

The company is also geared up to begin trade-related advisory services and after-sales services for its products in India. It will also begin trading in hi-tech items through cash and carry mode.

Sumitomo Corporations wholly-owned Indian subsidiary, Sumitomo Corporation India (P) Ltd, is engaged in the process of procurement and supply of materials and equipment required for projects, identifying and engaging Indian subcontractors for undertaking civil construction and commissioning activities for infrastructure/industrial projects and supporting them by providing them technical and business assistance and marketing of goods and services of joint ventures in India where Sumitomo and its associated companies are financial/technical collaborators.
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Qualis to be costlier
Bangalore: Toyota Kirloskar Motor Co, which plans to launch the petrol version of the Qualis in the Auto Expo, is planning to raise the price of the diesel version.

The price rise will vary from Rs 5,000 to Rs 15,000 depending on the model. The basic model now costs Rs 5.5 lakh and the high-end model costs Rs 8.5 lakh.

A company press release said Qualis had registered a sales of 2,338 in November 2001, as compared to 1,960 units in the same month last year.

From January to November 2001, 26,030 Qualis cars had been sold as compared to 19,333 in the same period last year. Toyota has established 37 dealerships in the country and is expanding its market to the semi-urban and rural areas.
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