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Nicco
to unveil Bangla Amusement park in ’03
New Delhi: Engineering and cable manufacturing
company Nicco Group, which has found a fresh lease of
life in running amusement parks, is all set to make its
debut in Bangladesh early 2003.
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Pharma
sector aims higher R&D spends in 5 years
Bangalore: The Indian pharma industry, under the
aegis of the Indian Pharmaceutical Alliance, hopes that
the country will be among the top 10 in niche global R&D
spends in 10 years.
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Mumbai
five-star hotels in talks for co-opetition
Mumbai: The saturated north Mumbai five-star hospitality
market seems to have reached an understanding among at
least three hospitality majors in the area.
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ASP
starts exports to China
New Delhi: The Alloy Steels Plant, a lossmaking
unit of Steel Authority of India Ltd (SAIL), has started
exporting to China, the world’s largest steel producer,
beginning with a 1920-tonne consignment of stainless steel
slabs.
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IDBI
issues dues recovery letter to Mangalam Cement
Mumbai: The Industrial Development Bank of India
has issued a letter to the BK Birla Group promoted, Mangalam
Cement as regards the recovery of its dues
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Microsoft
to offer India an insight into Windows
New Delhi: Microsoft is virtually doing the unthinkable
in India - it is planning to share the Windows source
code. Not with one and all, as Linux does, but with a
specific government body which, in turn, will share it
with others for the purposes of e-governance and education.
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STAR
eclipses SUN
Mumbai: The verdict is out. In the race for your
eyeballs, media baron Rupert Murdoch’s Star Plus
has ousted regional channel Sun TV to become numero uno
in the channel hustings.
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Car
loans rates set to drop further
Mumbai: Official rack rates (the rates mentioned
in the brochures) on car loans are expected to drop further
to 11 per cent from 12-13 per cent, in line with the overall
softening interest rate regime.
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Tata
to tradition, it's a young brand now
Mumbai: The 130-year-old Tata group is all set
to cultivate a young image for the Tata brand. The group
is planning to spend Rs 300 crore over the next 3-5 years
to make the brand relevant to audiences in the 15-30 age
group, described by group spindoctors, predictably enough,
as GenNext.
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Zee
ignores STAR rate cut, hikes cable fee by 20%
Mumbai: Zee-Turner, the distribution joint venture,
on Thursday announced a three-layer dual pricing strategy
for its bouquet of 16 channels, along with a hike of Rs
8 in monthly subscription rate.
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Baron
patch: TCL relaunch hits another roadblock
New Delhi: The much awaited relaunch of the Chinese
consumer electronics brand TCL in India is facing fresh
roadblocks. While the proposal was earlier deferred by
the FIPB on grounds of security clearance as the entity
is headquartered in Hong Kong, in the present context,
skeletons from the past have come to hound the proposal.
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IA
secures huge discounts on A320 lease rentals
New Delhi: Indian Airlines (IA) renegotiated lower
rentals for an earlier batch of Airbus 320 planes soon
after rates crashed in the market after 9/11. Now, it
has leased another set of five A320s for an attractive
monthly rental of $1,40,000 a piece, way below the $2,00,000-$3,00,000
rentals these planes attracted early last year.
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C&W's
local arm may have to wait
New Delhi: UK-based telecom major Cable and Wireless'
(C&W) plan to convert its branch office in India into
a 100% subsidiary has run into rough weather.
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Piracy
could soon silence Indian music industry
Mumbai: The Indian music industry is on the brink
of a collapse, feels industry captains. According to the
industry association Indian Music Industry (IMI), the
turnover of the legitimate music industry in the last
18 months was Rs 700 crore, of which it made a cash loss
of Rs 200 crore.
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Volvo's
new platform to help push sales
New Delhi: Volvo India, the domestic subsidiary
of the Swedish truck giant, is planning a new platform
that it hopes will generate higher volumes and increase
its market share in the higher tonnage domestic segment.
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Maruti
to hike prices of all models in January
New Delhi: Taking cue from Hyundai Motors India,
Maruti Udyog (MUL) too will raise prices of its cars,
across all models in January, next year. Without specifying
the degree of the price hike, MUL managing director Jagdish
Khattar confirmed on Thursday, We have decided to increase
prices of all cars by a few percentage from next month.
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Fifth
call centre from GE soon
Kolkata: GE Capital's plan for a fifth call centre
in India is expected to be firmed up within the next 3-6
months. The proposed call centre will also be engaged
in BPO (business process outsourcing) operations and will
entail an investment of Rs 35-70 crore.
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Merck
India's diagnostic biz not part of global sale
Mumbai: Merck Ltd, the Indian arm of the international
pharma firm, Merck KgaA, yesterday said that the company
would remain in the diagnostics business in India despite
the parent company selling off its global diagnostics
business.
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Group
co to make open offer for Parry Agro
Chennai: New Ambadi Investment Pvt Ltd, part of
the Chennai-based Murugappa group, has announced its intention
to come out with an open offer for acquiring all of the
public holding of 23.09 per cent in Parry Agro Industries
Ltd.
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Adani
group disputes chief's `arrest'
New Delhi: The Adani Group yesterday disputed reports
in a section of the media on Wednesday that its group
Chairman, Gautam Adani, was arrested in Delhi.
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Businessman
of the Year award
New Delhi: The Chairman and Managing Director of
Bharti TeleVentures Ltd, Sunil Mittal, has been selected
as the Businessman of the Year by Business India.
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HPCL
sells second tranche oil bonds at Rs 2.9 premium
New Delhi: Hindustan Petroleum Corporation Ltd
on Thursday sold a second tranche of oil bonds worth Rs
100 crore at a premium of Rs 2.96 for a bond of face value
Rs 100.
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India
Cements has to pay up Rs 779-cr debt this fiscal
Chennai: India Cements Ltd, which has submitted
a corporate debt-restructuring proposal to the financial
institutions, has said that the bunching up of debt repayments
over the next few years and inadequate cash flow generation
was making it difficult for the company to meet its obligations.
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Qwiky's
now in Sri Lanka
Chennai: Qwiky's coffee will now be available in
Sri Lanka. Chimayo Chains Pvt Ltd, which owns the coffee
chain, said that the company has tied up with Success
Enterprises, a garment manufacturer with experience in
retailing, to start three outlets in Colombo.
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TPL
revamp to hike LAB capacity to involve Rs 128 cr
Chennai: Tamilnadu Petroproducts Ltd proposes to
spend Rs 128 crore on the `revamp project' that has just
got under way. The company has raised Rs 100 crore through
an issue of non-convertible debentures for the project.
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Zed-Axis
in alliance with Austrian firm
New Delhi: The Delhi-based Internet technology
firm, Zed-Axis Technology Pvt Ltd, has entered into a
strategic alliance with Digital Motion Picture Datenverarbeitungs
GmBH, Austria (DMP) to provide offshore development facilities
to the latter.
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LearningMate
joins hands with Blackboard
New Delhi: LearningMate, the e-learning services
providing division of Delhi-based Educomp Datamatics Ltd,
has entered into a strategic partnership with Blackboard
Inc and World Links to introduce e-learning for professional
development of teachers in rural and under-served schools
in India, parts of Asia, Africa, Latin America, and the
Middle East.
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BIFR
to hear Alind case on Dec 19
New Delhi: The Board for Industrial and Financial
Reconstruction (BIFR) will look at the various proposals
that have come up for the takeover or sale of the eight
divisions of the ailing Aluminium Industries Ltd (Alind)
at a hearing slated for December 19.
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Antrix
Corpn hopeful of Rs 100-cr turnover
New Delhi: With an increasing global presence and
customer base, Antrix Corporation, the commercial arm
of the Department of Space (DoS), is hopeful Rs 100-crore
business turnover during fiscal 2002-03.
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Nuziveedu
Seeds to unveil Bt cotton hybrids
Hyderabad: Nuziveedu Seeds Ltd (NSL) is planning
to introduce Bt technology into its `Bunny' and `Mallika'
varieties of cotton hybrids. The company, which has posted
a turnover of Rs 110 crore last fiscal, has already developed
Bt gene and is currently in the process of transforming
it into its hybrid seeds, according to the Managing Director
of NSL, M. Prabhakar Rao.
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