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Saturday, August 21, 2004
Steel producers' tepid response to duty cut
MUMBAI, AUG. 20. The Central Government's announcement regarding the reduction of import duties has been given a tepid response by the steel industry. The Indian Steel Alliance (ISA) feels that in the longer run, a protection of a mere 5 per ...
Vedanta to acquire 51 p.c. stake in Zambian firm
MUMBAI, AUG. 20.Vedanta Resources plc, the London-listed metals and mining group, has announced that it will acquire a 51 per cent controlling stake in Konkola Copper Mines plc (KCM) in Zambia for a total cash consideration of $48.2 million. The ...
Web conferencing gaining importance
CHENNAI, AUG. 20. Companies across the globe have started looking at web conferencing as a main tool for interactions with their partners. Assorted problems ranging from rising cost involved in today's business travel to the need to ...
Transport industry protests against service tax
MUMBAI, AUG. 20. The transport industry has announced an indefinite strike from August 21 to protest against the imposition of the 10 per cent service tax introduced in the Union Budget 2004-05. Addressing the media here today, Mahendra Arya, ...
Infrastructure sector perks up
NEW DELHI, AUG. 20. The infrastructure sector perked up in July with 7.4 per cent growth after a poor 3.1 per cent rise in the previous month, brining the overall growth rate to 6 per cent for April to July. This is considerably better than the ...
Zydus Trust picks up stake in Cadila
MUMBAI, AUG. 20. Zydus Family Trust has acquired additional 24.91 per cent stake in Cadila Healthcare through transfer of stake among the promoters and market purchases. The trust has acquired 1.5 crore shares by inter-se-transfer among promoters ...
SBI to expand overseas operations
MUMBAI, AUG. 20. State Bank of India plans to expand its international operations by opening 16 new overseas offices in the current financial year. It also plans to raise up to $750 million from the global market in the current fiscal. This ...
New MD for Hyundai
NEW DELHI, AUG. 20. Hyundai Motor Corporation has appointed Byung Ho Sung as the new Managing Director for its Indian arm, Hyundai Motor India. Mr. Sung, who was Executive Vice-President of Hyundai global overseas sales, has replaced J. I. Kim as ...
Union Bank's plans
COIMBATORE: Union Bank of India plans to have 700 branches networked under its core banking initiative by 2005. According to its Executive Director, Rathnakar K. Hegde, the bank offers "Tele banking" at all core banking branches. It has also ...
SNQS group forays into spinning
COIMBATORE: The Tirupur-based SNQS group's spinning unit, Jeyavishnu Spintex Private Limited, has been inaugurated at Tirupur. A release from the company said that the initial installed capacity of the mill was 12,000 spindles. The group was ...
Typewriting institutes' plea
COIMBATORE: Typewriting institutes should be exempted from service tax payment, some of the institutes here have pleaded. In a memorandum to the Union Finance Minister, they said that a large number of institutes here would be closed due to the ...
Essar Steel posts higher net income
AHMEDABAD: The Hazira-based Essar Steel Ltd. has recorded a net profit of Rs. 50.44 crores in the first quarter of the current financial year against Rs. 10.25 crores during the same period last year. According to a spokesman of the company here, ...
HDFC Mutual launches two schemes
CHENNAI: HDFC Mutual Fund has launched HDFC Core & Satellite Fund, an open ended growth scheme and HDFC Multiple Yield Fund, an open ended income scheme. The initial offer for both schemes is open from August 20 to September 10, according to a ...
New formulation from Issar Pharma
HYDERABAD: The Hyderabad based Issar Pharmaceuticals announced the launch of its first peptide-based formulation, Melgain. The company, incorporated in 1995, is devoted to research development and commercialisation of peptides and peptide based ...
Sah Petroleums to tap market
HYDERABAD: Sah Petroleums is planning to open offices in Dubai to tap the export market. The company which had a turnover of Rs. 72 crores for March 2004, exported about 3-4 per cent of its produce, lubricants for industrial and automotive ...
UBI launches HDFC Standard products
KOZHIKODE: Union Bank of India launched the HDFC Standard Life Insurance Corporate Agency at the Fortune Hotel in Kozhikode on Friday. A customer meet was also organised in connection with the launch in the evening. The Kozhikode Mayor Thottathil ...
KOCHI: State Bank of Travancore is observing August as bancassurance month. S. Krishnamurthy, Managing Director of SBI Life, and G. Rama Mohana Rao, General Manager (operations) of SBT, told reporters here on Friday that the banks were expecting ...
KPL Oil launches coconut milk powder
KOCHI: KPL Oil Mills Pvt. Ltd., an Irinjalakkuda-based company, has launched coconut milk powder. Coconut milk can be made from it by adding water to the product, according to the company. The company executives claimed that 100 gm of powder ...
Saj Flight Services gets ISO 9001:2000
THIRUVANANTHAPURAM: Saj Flight Services Pvt. Ltd, which handles catering operations mainly to all flights of Air India in south and to the flights of Silk Air to Thiruvananthapuram and Kochi, was awarded with ISO 9001:2000 by the Joint ...
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