India a new hub in Electrolux's global strategy
New Delhi: Swedish major AB Electrolux has chalked out strategies for greater integration of its activities in India with its global operations. The parent company has pumped in close to $100 million in the Indian subsidiary since 2002. It plans to invest Rs 40 crore by 2007 in a research and development (R&D) centre here, besides sourcing IT services from Patni Computers as well as components from India. This centre will act as a technology centre for the SAARC region.

It will act as a regional hub to develop new technologies and product lines. AB Electrolux is also looking at India as an attractive outsourcing centre for the entire Electrolux Group. The Group has set a target of sourcing components worth $300 million from India in the next three years. Currently, AB Electrolux sources materials and parts worth $9 billion every year, he said. Over the next few years, a part of the North American call-centre activities will also be shifted to India.
Back to News Review index page  

USFDA approves Ranbaxy's diabetic drug
Mumbai: Drug company Ranbaxy Laboratories Ltd has said that its anti-diabetic drug has got the final approval from regulatory authorities in the US. The US Food and Drug Administration (US FDA) has given Ranbaxy the green signal to market Metformin Hydrochloride Extended-release Tablets, 500 mg, said a company release. The approval came after Barr Laboratories Inc, a wholly-owned subsidiary of Barr Pharmaceuticals Inc, selectively waived its rights to exclusivity in favour of Ranbaxy.
Back to News Review index page  

LG ties up with Kodak for camera phone prints
Hyderabad: LG Electronics Inc has announced its tie up with Kodak India Ltd to provide prints on Kodak paper from images captured on LG RD 7230 CDMA video camera phones. Owners of this phone can now walk into select Kodak Express outlets in 20 cities in the country and avail themselves of this facility.
Back to News Review index page  

Financial Times is first foreign media investor in India
Mumbai: With the Financial Times picking up 13.85 per cent stake in the Buisness Standard for Rs 14.1 crore the Financial Times Group has become the first foreign equity investor in an Indian newspaper. The eight-member board of BS will now include one representative of FT. The stake acquisition by FT was mainly fresh equity and a dilution of a portion of the shareholding of T.N. Ninan, Editor and Publisher of BS.

The FT also has deals in Germany, South Africa, Russia, France and Spain. India, according to FT, is the second largest English newspaper market in the world. While the Kotak Group holds 54 per cent stake in BS, GE Shipping holds 28 per cent and Uday Kotak four per cent in his personal capacity.
Back to News Review index page  

ONGC eyes crude and gas shipping
New Delhi: The Oil and Natural Gas Corporation (ONGC) is planning to enter the crude and gas shipping business in the coming years with an aim to become a $50-billion company in the next five years. The company had earlier announced its plans to enter the petrochemical, power and LNG business. ONGC said that it currently has two opportunities. The first being shipping crude oil from Sakhalin fields in far east Russia, where ONGC's subsidiary ONGC Videsh Ltd (OVL) has a 20-per cent stake and the field goes on production in 2005-06. The second is LNG shipping for our upcoming import terminal at Mangalore.

ONGC is also planning to go ahead with a petrochemical plant. Later, it will progress with a power plant. The diversification projects will entail an investment of $3-4 billion over the next five years. ONGC plans to invest about Rs 10,000 crore in the domestic oil sector and an additional $1 billion abroad in the current financial year. It also plans to enter the retail market by opening four to five gas stations this year.
Back to News Review index page  

NDTV turns cash positive in Q4
New Delhi: NDTV Ltd has reported a cash break-even in the fourth quarter ended March 2004, with an earnings before interest, depreciation and tax and amortisation (EBIDTA) of Rs 1.75 crore. This turnaround in the fourth quarter took place after a reported loss in the first three quarters, said a company release. For the entire year on a consolidated basis, NDTV has reported a net loss of Rs 49.62 crore and an income of Rs 68.98 crore.
Back to News Review index page  

Ericsson wins another Bharti deal
New Delhi: Bharti Tele-Ventures has signed a $15-million deal with Swedish technology major Ericsson for supply of Intelligent Network solutions across Bharti's nationwide cellular network. The deal follows a $750-million contract between Bharti and Ericsson for managing the latter's GSM network for a period 10 years. The agreement covers all of Bharti's existing and soon to be launched mobile systems in India," a statement from Ericsson said.
Back to News Review index page  

Intel's new chips
New Delhi: Intel has launched a range of chipsets and microprocessors for improved audio, video and graphics experience for personal computer (PC) users. Intel also launched three new chipsets - 915P and 915G, targeted at the mainstream PCs, and 925X targeted at the gaming segment. It has also launched several Pentium 4 processors that support hyper-threading technology.

These technologies help create an all-in-one hi-fi device with high-definition video, high fidelity sound and wireless connectivity. Hyper-threading is a technology that allows a single microprocessor to act like two separate processors to the operating system and the application programs that use it. The company has also hired about 500 people in its India development centre in the first six months of 2004, taking the total headcount to around 2,000.
Back to News Review index page  

Wipro launches 'SuperGenius 900'
Bangalore: Wipro Infotech has announced the launch of `Wipro SuperGenius 900 Series' of desktops powered by Intel 915 G Express Chipset - the first local OEM in India to market Intel's latest technology. The new SuperGenius 900 Series of desktop products have superior video and audio performance featuring the new Intel Pentium 4 processors supporting hyper-threading technology (HT) and Intel 915 G Express Chipset.
Back to News Review index page