LIC to enter US markets
Bangalore: The Life Insurance Corporation of India would soon enter the US, with plans to start operations in California and New York.

After the US initiative, LIC has plans to foray into the markets in Australia, New Zealand and Canada.

LIC's UK operations are being restructured to reach out to entire Europe. LIC has started operations in Nepal, where it has already sold 1,000 policies.
LIC is stregthening its presence in Africa out of its Mauritius operations.

It has drawn up a five-year plan aiming to generate 10 per cent of its total business from outside India from the current figure of around 0.5 per cent.
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Coface tie up with Indian insurance company
Mumbai: Coface, a world leader in credit insurance, has tied up with an Indian insurance company to start services for credit insurance in the domestic sector.

"We have tied up and will be applying to insurance regulatory development authority for necessary approvals," Coface group regional managing diretor Bart A Pattyn told newsmen here on Saturday.

He, however, declined to name the Indian partner for the joint venture.
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China invites Indian companies to Shanghai
New Delhi: China has invited Indian firms to cash in on the opportunities provided by the $50 billion worth Shanghai market and to enhance trade and investment between the two countries.

"India and China have a critical role in realising a fair trade regime for Asia and the developing world, particularly after China's accession to the WTO," chairman of Shanghai WTO affairs consultation centre, Wang Zhan, said here.

Addressing an Assocham interactive session, Zhan, heading a seven-member high powered delegation, said the growth rate of Shanghai had been over 10 per cent throughout the last decade and export from the region totalled $26 billion annually.
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Kawasaki to source components from Bajaj
New Delhi: Japanese two-wheeler giant Kawasaki is likely to source components from Bajaj Auto for its sub-200CC motorcycles.

At present, Bajaj Auto manufactures motorcycles in technical alliance with Kawasaki.

The company is also in talks with some Chinese companies to source components and export automobiles.

The company on Saturday launched a 150CC 2-stroke scooter 'Legend NXT2' priced at Rs 32,545 (on-road in Delhi) and a 112CC 4-stroke 'Chetak' scooter priced at Rs 32,429.
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MUL foray into car financing
New Delhi: Maruti Udyog will foray into the domestic car finance market next month.The auto finance business to be offered under the 'Maruti Finance' brandname would be conducted through its 240 dealerships in the country.

Maruti would sell customised products of various finance companies through these dealerships.

The company's two existing car finance joint ventures - Maruti Citicorp and Maruti Countrywide - would co-exist with the new business under the 'Maruti Finance' brandname.
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Radisson plans 3 new hotels
New Delhi: The US-based Carlson Hospitality Worldwide is planning three new hotels in Shimla, Goa and Kumarakom in Kerala by 2004.

All the three places - Goa, Shimla and Kumarakom - have a major tourist potential for both domestic and foreign tourists.

The Goa Radisson will have more than 200 rooms, while Kumarakom and Shimla will have a capacity of 100 rooms each. Both Kumarakom and Goa will be luxury properties, while Shimla will be a first class property.
By 2004, the Carlson group will have 17 hotels around the country, out of which 10 will be Radisson Hotels and seven Country Inns & Suites. With this, the group is set to become biggest MNC hotel chain in the country.
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