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Friday, January 20, 2006

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Jet Airways acquires Air Sahara for $500 m
Sahara confirms that workers will not lose their jobs and cadres

ONGC-Shell tie up in oil and gas sector
MoU covers joint development of coal bed methane gas

Sensex zooms 212 points
Encouraging quarterly results and FIIs' positive activity bolstered sentiment

Pan-Asia fund to target $100m size
IL&FS and ORIX have committed $10m each to the fund

Rupee rallies smartly
MUMBAI: The rupee rallied smartly against the U.S. currency on Thursday after fresh trade and portfolio investment inflows pulled it up from overnight 12-day low to close sharply higher at 44.34/35 a dollar, helped partly by a renewed bull-charge ...

Other Stories


ICAI opposes move
MUMBAI: The Institute of Chartered Accountants of India (ICAI) on Thursday criticised the Finance Ministry's move to empower the boards of public sector banks to appoint statutory auditors at their discretion. ``The appointment of statutory ...

PIO investment in airlines
NEW DELHI: The proposed private carrier, Magic Air, would have to wait for some more time to take to the skies, with the Union Cabinet on Thursday referring to the Group of Ministers on FDI a proposal to allow Persons of Indian Origin to invest ...

HCL's co-sourcing deal with DSG
CHENNAI: HCL Technologies has announced a multi-year, multi-service, multi-million dollar co-sourcing deal to provide system development, application delivery, infrastructure support and maintenance services to DSG international Plc., a ...

SEBI raps 14 brokers
MUMBAI: The Securities and Exchange Board of India on Thursday issued censure/warning to 14 brokers for various shortcomings, including not having a written code of internal procedure for prevention of insider trading. While eight brokers, ...

AIG's COO Kanak resigns
NEW YORK: U.S. insurer American International Group Inc. on Wednesday said Donald Kanak, chief operating officer and a top executive in its fast-growing Asian business, resigned for personal reasons. ...

Servion buys 5by5 Networks
CHENNAI: Servion Global Solutions, engaged in providing customer interaction management solutions, said it had acquired 5by5 Networks Inc., a privately held U.S.-based technology company, for an undisclosed sum in an all-cash deal. Addressing a ...

Lason to increase headcount
CHENNAI: Lason India, a subsidiary of Lason Inc. of the U.S. and provider of business process outsourcing solutions, plans to invest $1.5 million in its Chennai operation and add 1,600 jobs in India to support the growth of its business. ...

Airwide Solutions starts India operations
NEW DELHI: Airwide Solutions, a leader in mobile infrastructure software for wireless operators, on Thursday announced its entry into the Indian market. The company is planning a long-term investment, including product development, customer ...

Chola MF launches Contra Fund
CHENNAI: Chola Mutual Fund announced on Thursday the launch of its open-ended contrarian equity fund, Chola Contra Fund. The fund will invest at least 65 per cent in equity and equity related instruments of companies using a contrarian investment ...

Quintegra reconstitutes board
CHENNAI: Quintegra Solutions has reconstituted its board consequent to the acquisition of 84.42 lakh shares (31.50 per cent of the paid-up capital of the company) by Vaidyanathan Shankarraman and his associates from erstwhile promoters Babu ...

Aztec Software opens centre in Hyderabad
CHENNAI: Aztec Software, specialised in offshore product engineering, has established a global development centre in Hyderabad. The centre was inaugurated by Srini Koppulu, Managing Director of Microsoft India R & D. Aztec plans to invest Rs. 50

Afilias enhances registry services
CHENNAI: Afilias has enhanced its registry services in support of the .IN domain to deliver faster, more robust services in India. According to a release, the .IN domain now joins generic top-level domains (TLD) .info and .org. The service ...

Payment gateway for West Bengal coop bank
KOLKATA: The West Bengal State Co-operative Bank (WBSCB) on Thursday launched the real time gross settlement (RTGS) system, becoming the second co-operative bank in the country to do so. The RTGS, which is a payment gateway, facilitating instant ...

LG Electronics to invest Rs. 400 cr.
INDORE: LG Electronics would invest nearly Rs. 400 crore this year in India towards expansion of its existing manufacturing facilities. According to K. R.Kim, President, South West Asia, the company would manufacture CD-Rom, DVD writers, monitors ...

HP's launches mobile inkjet printer
NEW DELHI: Hewlett-Packard has launched the first fully featured mobile inkjet printer, Deskjet 460cb, equipped with optional Wi-Fi, Bluetooth wireless connectivity and high quality printing for documents up to 17 pages/minute and borderless ...

ING Vysya Bank to open self-bank outlets
BANGALORE: ING Vysya Bank has tied-up with Euronet Services India, an electronic payments provider, to open 200 `Self Bank' outlets across the country, as part of its strategic initiatives. The `Self Bank' concept is unique to ING and is being ...

Microsense to offer voice solutions
BANGALORE: Microsense, WAN and Wi-Fi roaming service provider, on Wednesday announced its partnership with Mercom, the U.S.-based world leaders in offering voice and screen recording solutions to introduce to Indian markets a new solution in the ...

New MD for ING Vysya Bank
BANGALORE: ING Vysya Bank has appointed Vaughn Richtor as its new Chief Executive Officer and Managing Director for a three-year term, following approval from the Reserve Bank of India. Effective February 1, Mr. Richtor succeeds Bart Hellemans. ...

Ramapuram Holiday resort in Kabini
BANGALORE: Ramapuram Holiday Resorts Limited (RHRL), which runs Orange County resort in Coorg, has planned another resort in Kabini, Karnataka, with an investment of about Rs. 12 crore. The resort, which is to come up on the banks of the river ...

Emart opens retail outlet `Next'
BANGALORE: Emart India, promoter of `Next', a corporate initiative to set up a retail chain of exclusive outlets showcasing multi-brand electronics, has opened its retail outlet `Next' in Bangalore. According to N. M. Mathew, Vice-President, ...

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