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Thursday, March 04, 2004
General Motors to buy DMIL's assembly unit
NEW DELHI, MARCH 3.The U.S.-based car manufacturer, General Motors Corporation, today offered to purchase the car assembly unit of Daewoo Motor India Ltd. (DMIL) for manufacturing mini cars. A company statement from Singapore stated that the ...
Steel majors cut prices
NEW DELHI, MARCH 3.Major steel producers today announced a reduction of about Rs. 4,000 a tonne in prices of steel partly to pass on the benefit of excise duty reduction and partly to provide relief to consumers. They have also assured that there ...
Taxing BPO centres: Nasscom expects a rollback
KOLKATA, MARCH 3. The National Association of Software and Service Companies (Nasscom) is expecting a roll back of the recent Central Board of Direct Taxes (CBDT) circular on taxing international business process outsourcing (BPO) segment. ...
India-Pakistan trade barriers meaningless, says Shourie
NEW DELHI, MARCH 3. The Union Disinvestment Minister, Arun Shourie, today described the existing barriers to Indo-Pak trade as `meaningless' even as he pointed to the fact that third country and contraband trade is about ten times higher than the ...
PTC IPO oversubscribed
MUMBAI, MARCH 3. The initial public offering (IPO) of Power Trading Corporation (PTC) has been oversubscribed by 3.13 times while that of Petronet LNG has also evoked a strong response and received cumulative bids for 38.7 per cent of offer ...
BOI loan for public issues
MUMBAI, MARCH 3. With a slew of initial public offerings hitting the capital markets, Bank of India today launched a new product, Star IPO, to facilitate investors to invest in the pre-approved IPO and access the stock market. Under the Star IPO, ...
Former WorldCom Chief indicted
WASHINGTON, MARCH 3. Former WorldCom Inc. Chief Executive, Bernad J. Ebbers, has been indicted on Federal criminal fraud charges in New York for his alleged role in the nation's largest accounting scandal, after his former finance chief, Scott D. ...
Extension counter inaugurated
COIMBATORE: An extension counter of the Peelamedu Branch of the Indian Bank was inaugurated at the GRD College of Science here on Monday by the Chairman and Managing Director of the bank, M. B. N Rao. The bank already had five ATMs here and one ...
Infosys, Thai Exim Bank forge alliance
BANGALORE: Infosys Technologies, Export-Import Bank of Thailand (EXIM Bank) and Yip In Tsoi & Co. Ltd., Thailand, have signed a strategic partnership to revamp the bank's core technology platform with Finacle, the universal banking solution from ...
Lufthansa boosts Asia-Pacific capacity
CHENNAI: Lufthansa German Airlines has announced an increase in capacity by 25 per cent in the Asia-Pacific region with the addition of 28 flights. With the new flights, Lufthansa will offer its passengers a total of 142 weekly flights to/from 18 ...
Varun Shipping acquires LPG carrier
CHENNAI: Varun Shipping Company has informed the National Stock Exchange that it has acquired its fifth LPG carrier, Maharshi Shivatreya. The company owns the largest LPG fleet in the country with 65 per cent of the total LPG tonnage presently ...
Delegation to Australia
CHENNAI: The Indo-Australian Chamber of Commerce plans to lead a business delegation to Australia in May this year to explore the growing opportunities in the continent. The delegation will visit Sydney, Melbourne and Perth and interact with a ...
No further FII buying in TV 18
CHENNAI: The Reserve Bank of India on Wednesday has notified that no further purchases of equity shares of Television Eighteen India should be made on behalf of foreign institutional investors (FIIs) / non-resident Indians (NRIs)/ PIOs through ...
ABB bags Tata Steel order
BANGALORE: ABB India, electrical equipment maker, has bagged a Rs. 60 crore order to build and automate `a new six lakh tonnes per annum re-bar mill' at Jamshedpur for Tata Steel, a company release said here on Tuesday. The work will be completed ...
Haryana Govt. signs MoU with Sun Microsystems
CHANDIGARH: The Haryana Government on Wednesday signed a memorandum of understanding (MoU) with Sun Microsystems to adopt open source office productivity tool, the StarOffice 7, for its departments and educational institutions. Commissioner and ...
i-flex survey `finds' banks want better software
BANGALORE: A little over half the bankers who responded to a survey by i-flex, the Bangalore-based vendor of banking software, wanted to buy new and more flexible core banking software applications, a company release said here on Tuesday. Some ...
SBI opens 10th ATM in Mangalore
MANGALORE: State Bank of India opened its 10th ATM in Mangalore at Kavoor junction near here on February 29. A release from the Chief Manager of SBIs Panambur branch here on Wednesday stated that the General Manager of Kudremukh Iron Ore Company, ...
Canara Bank's ad hoc committee
BANGALORE: Canara Bank has constituted a `high Level ad hoc committee' at its head office, to `look into' how the bank works to improve customer service, a release said. The Reserve Bank of India Governor, Y. V. Reddy, at a recent meeting with ...
PNB Housing's offer
KOCHI: V. K. Sood, Managing Director, PNB Housing Finance, mentioned that the festival offer has been extended to March 31 and the interest rates now started from 7.5 per cent onwards and all the loan schemes were on monthly reducing balance. The ...
Charity motorcycle tour
KOZHIKODE: Royal Enfield is organising an adventure-cum-charity motorcycle tour, Enduro India-2004. The bike ride was flagged off here on Friday morning. The seven-day trip would cover a total of about 1400 km from Kozhikode to Ootty, Ootty to ...
ISO 9001:2000 for PVS Hospital
KOZHIKODE: PVS Hospital has qualified for the ISO 9001:2000 certification for having a quality management system. The 29-year-old hospital here was recommended for the certificate by the British Standards Institution. It was the British Standard ...
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