Archive for the ‘Business’ Category:
Bharti hopes to seal Zain Telecom deal by Mar 25
India’s largest mobile services operator Bharti Airtel hopes to conclude the deal to buy Zain’s African assets by March 25 and does not see funding as an issue, its chief said in a newspaper interview on Wednesday.
Mercedes-Benz launches 2010 M-Class
Mercedes-Benz launched the 2010 M-Class in two variants for India. The Sport Edition of the M-Class is priced at Rs. 55 Lakhs while the Luxury Edition is priced at Rs. 60.9 lakhs Ex-showroom Delhi.
HC asks US Pharma major Eli Lilly to move IPAB
The Delhi High court has directed US-based pharma giant Eli Lilly to approach intellectual property tribunal IPAB to resolve its dispute with Ranbaxy over patents for ‘Tetracyclic Derivatives’, a group of chemical compounds having wide-ranging medical applications.
Pepsico’s India beverage business surge 32%
PepsiCo, the beverage and snackfood giant, said its fourth quarter (October-December 2009) profit nearly doubled, helped by strong growth in Asia. Its beverage volumes grew by eight per cent over the year, led by 32 per cent growth in India. Volume grew five per cent in the quarter, led by growth of 21 per cent in India (and high single-digit growth in Thailand and Egypt).
Honda Revive plan to open second plant
Japan’s Honda Motor Co’s Indian car unit has revived plans for production at its second plant in India, a senior company official said.
Honda had deferred plans for its new plant in the northwestern Indian state of Rajasthan, citing depressed auto demand.
SAIL to increase crude steel capacity to 60 MT by 2020
The Steel Authority of India Limited (SAIL) intends to have its present crude steel capacity of 13 MT increased to 60 MT in 2020 through Brownfield and Greenfield expansion, a senior officer said.
Nokia Siemens gets $700-mn deal from Bharti
Telecom equipment provider Nokia Siemens Networks (NSN) bagged a $700-million network expansion deal from the country’s top service provider, Bharti Airtel.
The deal would include network planning, implementation and project management, handling of local logistics and materials, as well as system integration for the base station sites, the company said in a statement here.
Patni hope to sign deals worth $150-$200 mn
Software services firm Patni Computer Systems Ltd said on Thursday it is looking at signing deals worth $150-$200 million in the next 4-6
weeks, a top official said.
Infosys Say Discretionary Client Spending Is Rising
Infosys Technologies Ltd., India’s second-largest software exporter by revenue, has already seen a return in discretionary spending by clients, indicating a recovery in the business sentiment, Chief Executive Kris Gopalakrishnan said Wednesday.
Speaking to Dow Jones Newswires, Mr. Gopalakrishnan flagged protectionism in some economies as a matter of concern, at a time when the Indian software industry is showing signs of a recovery from the impact of the global economic slowdown.
Fortis Healthcare to raise Rs 1,250 cr
Hospital chain Fortis Healthcare today said it will raise Rs 1,250 crore by issuing shares in domestic and international markets.
The board of directors of the company have approved to raise Rs 1,250 crore by issuing shares or debentures to meet its funding requirements for addressing various growth opportunities, from time to time, Fortis Healthcare said in a filing to the Bombay Stock Exchange.
PayPal Services to remain suspended for months
The Internet payment gateway says that its services to and from India will remain suspended for a few months due to revised licensing rules
Popular electronic payment gateway PayPal Inc has said that personal payments to and from India will be suspended for at least a few months until it fully resolves the questions from Indian regulators.
Telenor Asia acquires 7% more in Unitech Wireless
Unitech Limited today received Rs 2,022 crore from Telenor Asia for acquisition of further 7.15 per cent stake in Unitech Wireless by way of issuance of fresh shares.
In a filing to the Bombay Stock Exchange the accompany said after taking the existing investment of Rs 4,113 crore made by Telenor, its total investment in Unitech Wireless amounts to Rs 6,135 crore.
Turkish Airlines to lease 3 aircraft from jet
Turkish Airlines has inked an agreement with Jet Airways to take three Boeing 777 aircraft from the Indian carrier on lease, a source close to the development said.
Kumar Urban to raise 800 mn USD from pvt placements
Awaiting Sebi clearance for an initial public offer, the Pune-based realty firm Kumar Urban Development today said it is planning to raise up to USD 800 million through private equity placements in various special purpose vehicles (SPVs) next fiscal.
SAP CEO resigns, replaced by 2 co-chief executives
The chief executive of German software company SAP AG, Leo Apotheker, has resigned after his contract was not renewed and will be succeeded by two co-CEOs, the company has said.
Apotheker, who has been with company since 1988, became co-CEO in April 2008 and took the helm alone less than a year ago. In a brief statement, SAP, based in Walldorf, yesterday said its “supervisory board has reached a mutual agreement” not to extend the contract.