Pantaloons & Piramyd to enter food retailing
Mumbai: Pantaloon and Piramyd, two clothing retail brands are launching food business.

The Pantaloon group, which launched three hypermarkets in a month and a half last year, is launching low-price food stores, to be christened Food Bazaar.

The store will have a touch and feel factor and pulses and vegetables will be sold unpacked. This will add a bazaar flavour to the ambience.

The company has tied-up the supply chain and plans to stock unperishable commodities from all over the country.

The first store will be launched in Hyderabad in the next two-three weeks at the Big Bazaar and thereafter, a 9,000 square feet store is planned by May at the Phoenix mall in Mumbai.

The other major player entering supermarket retailing is Piramal Holdings of the Nicholas Piramal Group, which owns Crossroads in Mumbai.

The company is now planning to launch a 3,600 square feet outlet at Crossroads in Mumbai.
Back to News Review index page  

Whirlpool plans to double exports
Mumbai: Whirlpool plans to double exports from India to 20 per cent of production in the next few years from the current 10 per cent.

Whirlpool of India is an 82 per cent subsidiary of US appliances maker Whirlpool. The company plans to aggressively push exports to Asian countries and the Middle East.

For the fourth quarter ended 31 December 2001, the company reported a 143 per cent rise in net profit to Rs 2.90 crore on sales of Rs 290.40 crore.
Back to News Review index page  

Stanchart plans youth card
Bangalore: Standard Chartered is planning to launch a youth card sometime this year.

With the launch of the co-branded card with Mumbai-based cellular service provider Orange scheduled for next week, and an international women's card called Diva launched recently, Stanchart is launching two products in quick succession.

Diva is loosely modelled on a co-branded card Stanchart has with fashion company Esprit in Hong Kong which has close to 100,000 subscribers. Stanchart has women's cards in Singapore and Thailand as well.
Back to News Review index page  

Sonera to launch 3G services
Helsinki: Finland's leading telecommunications operator Sonera will launch next-generation mobile phone services on 26 September.

Universal Mobile Telecommunications System, the third-generation mobile telephony services, offers high speed Internet connections through mobile phones and other devices as well as a host of entertainment services.
Back to News Review index page  

Sify, SingTel pact to market data centre services
Mumbai: Satyam Infoway (Sify) has tied up with SingTel for marketing its data centre services in the Asia-Pacific and the US.

The alliance will provide Sify access to markets where the company does not have a strong presence.

SingTel currently has data centres in Singapore, the UK and Australia.

Sify is also in talks with other leading international players in the Internet data centre space including Digex Inc, Qwest and Level 3 of the US and is hopeful of alliances by the year-end.
Back to News Review index page  

Satyam to set up campus in Bangalore
Bangalore: Satyam Computers will be setting up a 26-acre campus at the electronics city here at a cost of Rs 35 crore.

An additional 20 acre will be made available to the company at a later stage.

The first phase is to be ready in a year's time and the total project will be completed in about 18 months time.

The facility will have lots of greenery and plenty of water bodies and will be an environment friendly construction.
Back to News Review index page  

Pepsi launches lemon cola
New Delhi: PepsiCo has launched 'Pepsi Aha', a variant of its existing cola drink with a lemon flavour and also rolled out a new advertising campaign for this summer featuring cricketer Sachin Tendulkar and film-star Amitabh Bachchan.

The new drink would be available in 300 ml returnable glass bottles at Rs 10 and 500 ml PET bottles and cans at Rs 15 each.

Pepsi plans to bring in new products from the parent's product portfolio like iced tea in the near future.

Pepsi had a marketshare of 48.3 per cent in the domestic beverage market and 51 per cent in the total cola segment during January-February this year.
Back to News Review index page  

BNP increases capital base in India
Mumbai: BNP Paribas has infused additional capital of Rs 80 crore to augment the bank's thrust in developing its corporate and private banking and fixed income activities.

Currently positioned amongst the leading corporate banks in India, BNP Paribas has established a strong presence in the market as a banker to leading domestic and multinational corporates.
Back to News Review index page  

SBI Home Finance reports Rs 7.25cr net loss
Kolkata: The SBI Home Finance reported a net loss of Rs 7.25 crore during the third quarter ended December, 2001 against a lower net loss of Rs 6.31 crore in the corresponding quarter in the previous year.

Net sales slipped to Rs 9.20 crore from Rs 10.20 crore during the quarter ended December, 2000 whereas total expenditure came down to Rs 1.23 crore from Rs 1.44 crore.

The cumulative net loss during the nine month of the current fiscal stood at Rs 19.09 crore against Rs 16.27 crore in 2000-2001. Net sales during the period amounted to Rs 28.09 crore against Rs 29.74 crore last year.
Back to News Review index page  

Iona to set up Indian unit
Bangalore: UK-based Iona, a provider of next generation integration platforms and a pioneer in CORBA middleware, is setting up an Indian subsidiary.

Ranked No.1 in CORBA-based middleware since 1996, Iona is now moving away from being just a CORBA tools developer and focusing completely on Web services and looking at the Indian market in a big way.

In India, the company is looking at integration of Web services across multiple platforms.

The company is working closely with Microsoft and other companies on shaping the standard to be followed for Web services applications.
Back to News Review index page  

TAIB Bank invests $ 4 million in India
Bangalore: Bahrain-based TAIB Bank has pumped in around $15 million towards various technology-related initiatives of which its Indian operation has received $4 million.

The banks objective is to be a partner to growth-oriented verticals and companies with a view to enhance value.

Recently the company set up three online trading portals--IndiaDirect.com, USDirect.com and FXDirect.com-- as part of its online trading strategy. Launched in association with financial portal myiris.com, these portals have enabled the bank to offer sophisticated online and research solutions while retaining the flexibility.

Currently TAIB is working with investors from the Middle East and assisting them to invest in the US and Indian markets in portfolio markets.

The company recently picked up a majority stake in a Kolkata-based technology firm, Mindware.
Back to News Review index page  

Nextlinx expands Bangalore unit
Bangalore: Nextlinx India is expanding its technology corps in Bangalore. The company plans to expand its content sourcing out of Bangalore by 1,000 per cent.

The company plans to set up a business development group here which will have greater development responsibility for all of NextLinx's global projects and product development.

This year, the Indian operation is compiling 2,000 international trade-related documents. The company has developed a technology which can scan and map put the variables for every single document in an environment where businesses can track their shipments in real time.

Over 300 companies, including more than 120 Fortune 500 companies currently use NetLinx products to manage international trade transactions, reduce transaction costs, improve throughput, reduce regulatory compliance risks and reduce input costs.
Back to News Review index page  

Bhusan Steel to set up Rs 2,800cr steel unit
Kolkata: Bhusan Steel & Strips has decided to set up a 1.2 million tonne integrated steel plant with an investment of Rs 2,800 crore.

The new hot rolled coil plant, coming up under Bhusan Ltd., will be set up at Durgapur.
Bhusan is bargaining with the West Bengal government for various fiscal benefits which will help the company compete against Steel Authority of India and Tata Steel.

The proposed plant at Durgapur will reduce its dependence on basic material from primary producers.

Bhusan has sought a 16 years waiver in sales tax for it proposed steel plant at Durgapur. Similar waiver has also been sought for its existing 1.3 lakh tonne cold rolling down processing mill at Dankuni near Kolkata.
Back to News Review index page  

CMC arm gets $18m contract
Washington: The Computer Maintenance Corporation subsidiary, Baton Rouge International, has beaten stiff competition from a US company to bag a prestigious $18 million contract to run the computer system of South Carolinas Charleston County Council.
Back to News Review index page  

HLL to transfer Diversey to Johnson Wax
Mumbai: Hindustan Lever has decided to transfer its Diversey Lever business to Johnson Wax Professional, a 100 per cent subsidiary of SC Johnson Commercial Markets, USA, for Rs 55 crore.

Diversey Lever produces, markets, and distributes a variety of systems and products for industrial and institutional cleaning.

The Diversey Lever business employs 65 people and had an estimated turnover of Rs 27 crore.
Back to News Review index page  

4 SWC breweries to be merged into Skol
New Delhi: Shaw Wallace & Co Ltd (SWC) is merging Haryana Breweries, Sica Breweries, Charminar Breweries and East Coast Breweries & Distilleries Ltd into Skol Breweries, SWCs flagship brewery.

Skol Breweries will then become the production arm of the group, while the marketing of the products will be done by Shaw Wallace Breweries Ltd.

SWC owns a majority stake in all these companies. The other shareholders in the four companies that are being merged into Skol Breweries will be given shares of this company in return for their shares.
Back to News Review index page  

Tissot launches new range
Chennai: Swiss watchmaker, Tissot, has launched the Bellflower range of watches for women.

These watches are made of steel and are reportedly scratch-resistant and water-resistant. Priced from Rs 11,500 onwards, these watches are available at all the Tissot outlets in the country.
Back to News Review index page  

Lee launches model hunt
Bangalore: Lee Jeans has launched a nationwide model hunt contest to find the first ever Indian face to be used in its advertising campaign.

With every pair of Lee jeans bought, the consumers will reportedly be given an entry form, which they have to fill and send along with a close-up and a full-length photograph. The contest is on till 15 May.

The contest will be accompanied with a series of promos in various colleges, music stores, cinema theatres and coffee shops.
Back to News Review index page  

Elgi launches new air compressor
Coimbatore: Elgi Equipment has launched a new-generation air compressor called Vayu.

Designed and developed in-house, Vayu is much smaller and portable and is available from 0.75 HP to 2 HP, with one- year replacement warranty.

Weighing lighter than any other compressor, Vayu's die-cast body is built of durable aluminium with cast iron sleeves precision-honed for low wear.

The motor is built to withstand voltage fluctuations from 185 to 250 volts. Other distinguishing features include reed valve for low noise and handle with rubber grip for easy mobility.
Back to News Review index page