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Intel to invest US$500mn in India
New Delhi: Intel chairman Craig Barrett is visiting India next week and there are indications that he would announce an investment of US$500mn in India during his visit to the country.

Half of this investment will go into Intel's research lab and marketing division, the rest will be used for developing a community personal computer in tie-up with Xenitis.

On Monday, Intel and Xenitis will sign a memorandum of understanding (MoU) for the low-cost PC project. Priced at Rs11,000 the PC would be the cheapest machine with an Intel chip and would also be available in eight languages including Hindi, Gujarati, Punjabi and Marathi.

The new Intel-powered PC, which will be made primarily for the rural and semi-urban areas of the country, will be a rugged version of the existing computers.

Irregular power supply and lack of proper air-conditioning would be some of the problems that the new product will address. Consumers will also have the option to choose Microsoft software.

Xenitis sells low-cost PCs under brand names like Amar PC and Apna PC, powered by Cyrix chips and are sold at Rs9,999.
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Ranbaxy introduces two AIDS drugs
New Delhi: Ranbaxy Laboratories is launching two new anti-AIDS drugs - Virolis-E and Virocomb-E - in India that will sold under the respective brand names Coviro-E and Avocomb-E in other countries.

Brian Tempest, CEO and managing director, Ranbaxy, said, "We are pleased to introduce Virolis-E and Virocomb-E that aim to make HIV treatment easier to administer and use. Ranbaxy is committed to HIV care and this is yet another step in our endeavour to make high quality, affordable and patient friendly ARVs available worldwide."
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Boeing, Airbus to set up Rs.1,500-cr hub
Mumbai: European aircraft maker Airbus and America's Boeing are planning to set up a maintenance, repair and overhaul (MRO) facility in India. Maharashtra is said to be in talks with both the aircraft makers to set up the facility in Nagpur. The cost of the project is expected to be Rs1,500 crore.

According to Maharashtra government officials the proposed facility would form a part of the upcoming multi-nodal logistics hub at the Nagpur airport.

India requires a number of MRO facilities as the aviation industry is embarking on massive expansion drive.

The initial investment for this facility will be Rs700 crore. It will go up to Rs1,500 crore in its final phase the officials said.
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Bajaj Auto sees growth from April 2006
Mumbai: Bajaj Auto, which has seen stagnant growth in sales in the last month, hopes to grow by 17-20 per cent from April onwards. Bajaj Auto clocked sales of 1.83 lakh units in November 2005, versus 1.82 lakh units in the same period last year.

The company said it is looking at a minimum of 10-12 per cent industry growth from January onwards. As far as Bajaj Auto is concerned, the company's growth may touch 17-20 per cent from April, it said.
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Genpact enters into outsourcing pact with Wachovia Corp.
New Delhi: Global outsourcing company Genpact, (earlier known as GE Capital International Services) and Wachovia Corporation, a provider of financial services in the US, have signed a seven year agreement under which Genpact would establish an offshore operation to support the latter's business process outsourcing efforts.

The arrangement will provide Wachovia access to Genpact's global operations and initially would be located in India. The two companies would work together to evaluate various processes over the next several months, with the expectation that some work would transit in the second quarter of 2006.

Genpact, which provides outsourcing and offshoring services to global 500 companies including GE, has operations in several countries, including India, China, Mexico, the US, Hungary and Romania.
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Ruias acquire Dunlop, Falcon
Kolkata: Pawan Ruia has acquired Dunlop India and Falcon Tyres from the Chhabria family-controlled Jumbo group. The Chhabrias were offering the two companies as a package deal.

Sources in the Jumbo group have said that the Chhabrias had sold Dil Rim & Wheels to a special purpose vehicle of Ruia, floated especially for the transfer. Dil Rim & Wheels owned a 76 per cent stake in Dunlop India and was incorporated in Mauritius.

However, the size of the deal was not revealed.

Ruia would be obliged by the terms laid down by BIFR and AAIFR, which are structuring the revival of the company. Ruia's primary task would to settle outstanding claims of Rs500 crore on Dunlop.
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Air Deccan plans to set up flying school
Mumbai: Air Deccan is planning to set up a residential flying school in Bangalore for training pilots, engineers and airhostesses. The training facility will be set up on a 15-acre facility near the Bangalore International Airport. The company is in the process of acquiring land for the project.

The airline has tied up with Canadian firm CAE for training modules with two full-motion simulators, flight-training device and simulator maintenance service. For the first three months, CAE would provide training equipment and services for its Airbus A320 and ATR 42/72 fleets, he said.

Capt Gopinath, chairman and managing director of Air Deccan said the school would be a one-stop training solutions for Air Deccan as it will provide training for in-flight services, airhostesses, pilots and engineers. Moreover, this facility will enable the airline to save a substantial amount for training.

Aviation industry sources pointed out that the listed price for two simulators would be over US$35mn and the land acquisition cost would also add up to the cost of the training facility.
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Toyota offers lucrative scheme for Innova buyers
Bangalore: Toyota Kirloskar is offering buyers of multi-utility vehicle Innova, a one per cent interest rate on loans for a limited period of one month.

Toyota Kirloskar Motor (TKM) said it had tied up with leading financial institutions to offer consumer finance schemes as part of its 2-lakh celebrations. TKM recently surpassed domestic production and sales of 2 lakh Toyota vehicles in India.

Toyota is offering Innova customers three finance options of zero down payment or low interest rate of 1 per cent on a three-year loan period or lower EMI of Rs11,999 on a five-year loan period. These schemes are being offered on G1 & G2 Innova models for a period of one month.

Toyota is also offering all prospective customers who test-drive the Innova an opportunity to participate in a lucky draw and win plasma TV, iPODs, DVD players and digital cameras.

Toyota has launched this offer in association with leading financial institutions such as ICICI, HDFC and Kotak, in order to ensure a countrywide reach of this scheme.
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United Phosphorus plans more overseas acquisitions
Mumbai: United Phosphorus (UPL) is planning acquisitions in Latin America, Asia Pacific, US and Europe.

UPL has made four overseas acquisitions over the last 14 months, including Argentine firm Reposo SAIC for US$11mn in October, Cequisa, a Spanish agrochem company, Shaw Wallace Agrochem and in November 2004, it acquired US-based Agvalue.

United Phosphorus is the largest agrochem player and is among the top five generic players globally. The company's revenues for the year ended March 2005 were in excess of Rs1,422 crore. The company exports to 100 countries, including North America and Europe. Exports account for 70 per cent of its revenues.
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