document.writeln("

Dubai Ports looks at India, Europe for growth
London: Dubai Ports World has said that it hoped to expand in Asia, particularly India, and Europe following its acquisition of P&O.

DP World chairman Ahmed Bin Sulayem told reporters that India is an opportunity, as well as Europe, when asked about the group's focus for future expansion.
Back to News Review index page  

Reliance to restart Jamnagar refinery next week
New Delhi: Reliance Industries will restart its refinery next week, company executive director, Nikhil Meswani said on Tuesday. The company was to restart the unit on November 26 after an 8-week maintenance shutdown, which caused shortage of domestic cooking gas (LPG) in the country.

"The unit will be restarted next week as per schedule," Meswani said on sidelines of the Indian Economic Summit here.

Reliance had shut the 1,80,000-barrels-per-day gasoline or fluidised catalytic cracking unit (FCCU) on October three for a 49-day shutdown but had later extended it by five days on account of slippages in the repairs of the FCCU, which produces about one -third of India's domestic LPG. The earlier scheduled date for restart was November 18.

Other units of the company's 33 million tonnes a year (6,60,000 barrels per day) Jamnagar refinery such as the 3,30,000-bpd crude distillation unit, a coker and aromatic division have been started successfully from November 10, ahead of schedule.
Back to News Review index page  

Venus files second PCT for latest generation Cephalosporin
Mumbai: Venus Remedies has filed its second patent cooperation treaty (PCT) international application for its latest generation of Cephalosporin.

The company has developed the product in its in-house research and development wing and has filed for the second patent under the title "Fixed dose combination drug of latest generation Cephalosporin," the company informed the Bombay Stock Exchange.

The official report of international search for this patent application shall be finalised by the European Patent Office within a year, it said.

Cephalosporin is an antibiotic to treat wide range of bacterial infections. This new fixed dose combination (FDC) was launched in the domestic market last year and the formulation is projected to have a market value of around Rs70 crore and can gain 14 per cent of market share in this segment.
Back to News Review index page  

Voltas to set up manufacturing units in Uttaranchal
New Delhi: Voltas on Tuesday said that it would invest Rs120 crore in the next three years on setting up three manufacturing units in Uttaranchal for manufacturing air conditioners, central cooling plants and commercial refrigeration equipment company officials said.

On its loss making Hyderabad facility, the company has started making the valuation process to invite bids to sell it off.

Officials said the company would run the facility at Hyderabad for another six to eight months at a bare minimum and after transferring all the refrigeration equipment to the new Uttaranchal facility, the remaining assets would be sold off.

A report is being prepared on the valuation, which the company is likely to get in another ten days time. The company had already announced VRS scheme for employees at the Hyderabad unit.
Back to News Review index page  

Jet Airways to start daily flight between Chennai-Singapore from Dec. 7
Chennai: Jet Airways is starting its daily direct service on the Chennai-Singapore sector from December 7.

The aircraft flying on the sector would be the next generation Boeing B737-800 aircraft.

This will be Jet Airways' second international flight out of Chennai, the first being on the Chennai-Kuala Lumpur-Chennai sector, launched in July last.

As a special inaugural offer, the airline announced a return fare of Rs46,060 in the club premiere class and Rs12,000 in the economy class.
Back to News Review index page  

New disaster predicting IT product from Micro Tech
Mumbai: A new disaster predicting product will soon be in the market. Micro Technologies India has launched a Global Disaster Reduction IT product, which instantaneously sends alerts about the occurrence of any natural or man made disasters.

The company launched the product named Micro GBB (Global Black Box) at the World Conference on Disaster Reduction, co-sponsored by United Nations, World Bank, it informed the BSE.
Micro GBB contains sensors or devices, which detects the location, magnitude and the direction in which the disaster is headed.

The device transmits instant messages on mobile, email or landline of the user or group of concerned users, upon the happening of a disaster. This device can warn users on the happening of floods or storms, earthquake, landslides, riots, change in temperature, intrusion, fire, gas leak, power failure and theft. It also captures specialised and validated information, which could be useful for search and rescue operations, early warning, remote sensing, disaster mitigation, trauma management, it said.
Back to News Review index page  

Satyam-Goldratt tie up for implementation of 'Viable Vision' program
Mumbai: Satyam Computer Services has tied up with Goldratt Consulting to implement 'Viable Vision' programme of Eli Goldratt for its customers.

The 'Viable Vision' programme based on Theory of Constraints, aims to transform current net sales into net profit in four years. The company has introduced the product to 500 CEO's of large and small product companies across the world, Satyam said.

The product will support the end-to-end implementation and training of the programme in India, China and Europe at present and would be later extended to other parts of the globe as well, it said.

The company would build top class consulting team consisting of TOC experts, application experts, and solution for sales experts and trainers to facilitate immense knowledge creation internally and to create a vast knowledge repository, it added.

Satyam is co-sponsoring the forthcoming Viable Vision event on November 30, at Mumbai and would be registering its Indian customers to this event, it said.
Back to News Review index page  

Virinchi gets US$1.25mn contract from US-based NBFC
Mumbai: Virinchi Technologies has received a multi-year contract from a US-based non-banking financial company (NBFC), listed on Fortune's Top 100 list of fastest growing companies.

The project involves deploying the company's homegrown product in "Retail Lending Domain" as "Hosted Application Service" (ASP model) to the client's users.

The project will fetch minimum annual revenue of US$1.25mn with an upward potential of US$1.5mn per annum, it said.
Back to News Review index page  

Max Telecom's stake sale in Hutchison Essar completed
Mumbai: Max India Limited has informed the National Stock Exchange that Max Telecom Ventures, a subsidiary of Max India Ltd, has completed the transaction and divested its stake in Hutchison Essar Ltd, (formerly Hutchison Max Telecom Limited) to Essar Teleholdings Limited.

On October 18, Max Telecom had signed a MoU for the sale of its 3.16 per cent holding in Hutchison Essar Telecom to Ruias-controlled Essar Teleholdings for Rs657 crore. Max India holds 60.8 per cent stake in Max Telecom Ventures.
Back to News Review index page  

Star to pick up stake in Indian company for FM radio
New Delhi: Star India is looking to acquire a stake in an Indian company for entering the private FM radio sector.

Star India Chief, Peter Mukherjea told reporters on the sidelines of the Indian Economic Summit that it would enter the FM radio sector by picking up equity in one of the successful bidders of the second phase of licensing.

Bidding for the second phase of FM radio ended on November 11 and foreign players including BBC and Germany's international broadcaster DW are also looking to make a foray in the segment.
Back to News Review index page  

Sify to continue with stake in Refco JV
Mumbai: IT company Sify plans to continue to retain its 29.85 per cent equity stake in the Refco-Sify Securities joint venture, even after UK's Man Financial completes its acquisition of Refco's stake, a senior company executive said.

Refco-Sify MD Vineet Bhatnagar said that the Indian company will change its name to Man Financial-Sify Securities as soon as the change of control permissions are received. A similar approach is being adopted for Refco Capital India, which is a wholly owned arm of Refco-Sify Securities.

Last week, Man Financial, a brokerage division of the Man Group, acquired the US-based Refco through an auction process, which was initiated under the US bankruptcy process.
Back to News Review index page  

Infosys, Microsoft tie up for concept centre
Bangalore: Infosys Technologies and Microsoft have opened a catalytic IT concept centre at the Infosys campus here.

This was a continuation of the joint investment announced by Infosys and Microsoft in November last year on an IT transformation initiative to enable enterprise businesses and their employees realise a simplified, flexible IT environment that lowered the total cost of ownership and enabled rapid change and innovation. The concept centre had been set up to provide customers with an informative and interactive experience, wherein they could envision, architect and evaluate catalytic IT solutions.

The catalytic IT solution and services suite addressed four pivotal IT business issues -legacy modernisation, connected business, infrastructure optimisation and enterprise resource planning consolidation.
Back to News Review index page  

De Beers to launch Forever Mark range in 2006
Mumbai: After transferring the Nakshatra and Asmi brands to its sightholders (partners) De Beers group company, Diamond Trading Company, is looking at bringing its Forever Mark range to India.

DTC is currently piloting the range in Hong Kong and would be launching it in India, Japan and the Gulf by November 2006. The Forever range is essentially a diamond shaped trust mark which would be laser engraved on diamonds which meet certain specifications.

Next on the agenda is a gifting programme, which the DTC would launch by March 2006.

There will be a 'gift a diamond planet' concept at all retail outlets, which would lead to increased focus on the gifting aspect as well as brand building. Apart from this, the company plans to increase its work in providing value-added services to its clients.

DTC is the largest producer of diamonds and is not allowed to distribute them, which is why it ties up with sightholders in different countries to promote its brands and 37 of its 92 sightholders globally are in India.

DTC is handing over its Nakshatra brand to Brightest Circle Jewellery Pvt Ltd in 2008, and Asmi sometime in 2006 to Gitanjali.

DTC would hand over Sangini too very soon, the company said. Meanwhile, DTC has already started research on other new brands to be launched once the present ones are handed over.
Back to News Review index page