India Business Insight articles from February 2007, page 9

India Business Insight archives from February 2007

INDO RAMA: 2 POWER PLANTS (of 15 megawatts each are to be set up in Maharashtra with an investment of around Rs128 crore).
February 26, 2007... (From India Business Insight) Indo Rama Petrochemicals Ltd proposes to invest about Rs128 crore to set up 2 coal-fired electricity plants of 15 megawatts each in Maharashtra. Indo Rama Synthetics will use the steam and water the...

GAS SHORTAGE SHORT-CIRCUITS GENERATION OF 400 MUs (by 43 gas-based electricity projects).
February 26, 2007... (From India Business Insight) The Ministry of Power, Government of India, has asked energy project developers not to pursue gas-based projects without proper gas supplies in place. Due to the non-availability of sufficient gas, 43...

MUMBAI TO GET 450 MILLION LITRES EXTRA WATER BY 2011 (as the Government of India has approved Rs1,330 crore for the Mumbai-IV middle Vaitarna water supply project).
February 26, 2007... (From India Business Insight) The Government of India on 22 Feb 2007 approved Rs1,330 crore for the Mumbai-IV middle Vaitarna water supply project that will add 450 million litres to supply of 2,900 million litres every day to Greater...

INFRASTRUCTURE TAG LIKELY FOR COAL SECTOR (in the forthcoming budget of the Government of India for 2007- 2008).
February 26, 2007... (From India Business Insight) The Minister of Finance, Government of India, is likely to extend infrastructure status to the coal sector in the forthcoming budget for 2007-2008. The lowering of duties on capital goods imported for...

MPI GRABS MEATY DUBAI DEAL, EYES ORGANIC DUCK EXPORT (Meat Products of India has got an order worth Rs4 crore from Barakat International LLC).
February 26, 2007... (From India Business Insight) Meat Products of India (MPI) has got an order worth Rs4 crore from Barakat International LLC of Dubai for supplying halal mutton, buffalo meat and specially cut pork. This 15 tonnes per month order from the...

NEW TECHNOPARK FACILITY LAUNCHED (the 8,50,000 square feet Thejaswini was launched on 22 Feb 2007).
February 26, 2007... (From India Business Insight) The Chief Minister of the Government of Kerala launched on 22 Feb 2007 the 8,50,000 square feet Thejaswini facility at Technopark. After its Phase-I expansion, the 3.2 million square feet Technopark at...

GARMENT MAKERS FORAY INTO RETAIL (to take advantage of the retail and realty boom in India).
February 26, 2007... (From India Business Insight) The global and domestic garment manufacturers are entering into retail malls and township development to take advantage of the retail and realty boom in India. Max Retail, a division of the Landmark group of...

MORGAN STANLEY, JM FINANCIAL PART WAYS (the companies will not hire each other's employees for two years).
February 26, 2007... (From India Business Insight) Morgan Stanley and JM Financial have decided to dissolve their partnership in the investment banking and securities business. JM Financial will sell its holding of 49 percent in JM Morgan Stanley Securities...

GOVERNMENT INVITES BIDS FOR ITS RESIDUAL MARUTI STAKE (the Government of India intends to sell its stake of 10.27 percent).
February 26, 2007... (From India Business Insight) The Government of India has invited bids for its residual stake in Maruti Udyog Ltd by 9 Mar 2007. The Government intends to sell its stake of 10.27 percent through competitive bidding. The Government...

CHIP FABRICATION COMPANIES TO GET FISCAL INCENTIVES (the Government of India expects an investment of $10 billion).
February 26, 2007... (From India Business Insight) The Government of India has decided to offer fiscal incentives to semiconductor manufacturing companies to set up facilities in the country. The Government intends to offer incentives of up to 25 percent of...

INDIA CEMENTS BOARD TO CONSIDER VISAKA MERGER (total production capacity of the company will go up to 8.8 million tonnes a year).
February 26, 2007... (From India Business Insight) The board of India Cements Ltd will meet on 28 Feb 2007 to consider the merger of Visaka Cement Industries Ltd with itself. The company had acquired Visaka Cements in 1997. Visaka Cements has a cement plant...

ONGC CONTESTS DECISION ON KG GAS DISCOVERY (DGH had accepted the discovery in UD-1 well on 2 Jan 2007).
February 26, 2007... (From India Business Insight) Oil and Natural Gas Corporation (ONGC) has contested the decision of the Directorate General of Hydrocarbons (DGH) on discovery of gas in Krishna Godavari (KG) basin. The DGH has disallowed the discovery of...

ARTEMIS TO SET UP MEDICAL INSTITUTES (the company is inaugurating its first hospital in Gurgaon in Apr 2007).
February 26, 2007... (From India Business Insight) Artemis Health Services Ltd is planning to set up one or more medical universities in India. The company intends to set up medical campuses consisting of colleges and tertiary care hospitals with an...

JINDAL SAW BAGS $355-MILLION US ORDER (to supply welded pipes).
February 26, 2007... (From India Business Insight) Jindal Saw Ltd has bagged an order worth $355 million from a company in the US. The company will supply 42-inch submerged arc welded pipes by Mar 2008. Jindal Saw has an order book of over $1.5 billion.

L&T ARM GETS PATENT FOR SOFTWARE (to calculate the length of conductors in power transmission lines).
February 26, 2007... (From India Business Insight) Engineering, Construction and Contracts (ECC) division of Larsen & Toubro Ltd (L&T) has received a patent for its software from the Government of India. The software helps in calculating the length of...

KALYANI LEMMERZ PLANS NEW PLANT (to manufacture steel wheels for passenger cars).
February 26, 2007... (From India Business Insight) Kalyani Lemmerz Ltd (KLL) is planning to set up a greenfield plant to manufacture steel wheels for passenger cars. The new plant will have the capacity to produce four million wheels a year and will...

M&M PLANS MULTI-FUEL OPTIONS FOR ITS UV RANGE BY 2010 (the company is working with leading engineering institutes).
February 26, 2007... (From India Business Insight) Mahindra & Mahindra Ltd (M&M) is planning to offer multi-fuel options for its utility vehicles (UV) by 2010. The company expects to have vehicles compatible with liquefied petroleum gas, compressed...

CLARIANT NET RISES TO Rs7.4 CRORE (the company has announced a dividend of Rs18 per share for 2006).
February 26, 2007... (From India Business Insight) Clariant Chemicals (India) Ltd has announced a net profit of Rs7.4 crore for Oct-Dec 2006 (Rs1.32 crore for Oct-Dec 2005). Net sales have gone up to Rs228.20 crore (Rs96.86 crore). The company has changed the...

KINETIC MOTOR HAS PACTS WITH EGYPT, SUDAN COMPANIES (the company has also entered into a tie-up with a company in Taiwan).
February 26, 2007... (From India Business Insight) Kinetic Motor Ltd has signed contracts worth Rs28-30 crore with companies in Egypt and Sudan to sell 6,000-7,000 scooters in 2007. The company is already exporting scooters to Japan. Kinetic has also entered...

ESSAR TO SET UP STEEL PLANT IN THE CARIBBEAN (the group intends to invest $1.76 billion in the project).
February 26, 2007... (From India Business Insight) The Essar Group is planning to set up a steel plant with a capacity of 2.5 million tonnes in Trinidad and Tobago in the Caribbean. The group intends to invest $1.76 billion in the project. Essar will...

MAX INDIA TO RAISE Rs1,000 CRORE VIA QIP (Max Healthcare will raise Rs400 crore through preferential allotment).
February 26, 2007... (From India Business Insight) Max India Ltd is planning to raise Rs1,000 crore through qualified institutional placement (QIP). The company intends to use the funds to expand the business of Max New York Life Insurance (MYNL). Max India...

WOCKHARDT Q4 NET DOWN 5.6% (the company has announced a net profit of Rs48.5 crore for Oct-Dec 2006).
February 26, 2007... (From India Business Insight) Wockhardt Ltd has announced a decline of 5.6 percent in net profit at Rs48.5 crore for Oct-Dec 2006 (Rs51.4 crore for Oct-Dec 2005). Total income has gone up to Rs256 crore (Rs233.4 crore). The company...

SAHARA INDIA TO OFFER SERVICES TO NRIs (the company has set up Sahara Care House to provide services support).
February 26, 2007... (From India Business Insight) Sahara India Parivar has introduced a number of services for non- resident Indians (NRIs). The company is offering the services in health, utility services, personalised and relationship verticals. The...

EVOLVENCE INDIA TO INVEST $10 MILLION IN BANGALORE COMPANY (the investment is the first by the fund in any organisation).
February 26, 2007... (From India Business Insight) Evolvence India Life Sciences Fund (EILSF) is planning to invest $10 million in a contract research organisation in Bangalore. The investment is the first by the fund in any organisation. EILSF is focussing...

HEXAWARE LOOKING TO SHOP IN US/EUROPE (the company intends to invest $20-$40 million for the acquisition).
February 26, 2007... (From India Business Insight) Hexaware Technologies Ltd is planning to acquire an information technology company in the US or Europe with an investment of $2- $4 million. The company is looking for a company with expertise in SAP or...

COVALENT, PRAMATI IN TIE-UP (to offer open source solutions).
February 26, 2007... (From India Business Insight) Covalent Technologies has entered into a strategic alliance with Pramati Technologies. Pramati will offer open source solutions of Covalent to enterprises in Asia. Covalent will promote the services of...

RS SOFT NET UP 92% (at Rs6.78 crore for Apr-Dec 2006).
February 26, 2007... (From India Business Insight) R.S. Software (India) Ltd has announced a growth of 92 percent in net profit at Rs6.78 crore for Apr-Dec 2006 (Rs3.52 crore for Apr- Dec 2005). Total income has gone up to Rs77.38 crore (Rs69 crore). The...

BSNL TARGETS 420 BILLION REVENUE IN 3 YEARS (the company has repaid Rs2,500 crore to the Government of India).
February 26, 2007... (From India Business Insight) Bharat Sanchar Nigam Ltd (BSNL) expects to announce revenues of $20 billion in the next three years. The company expects to add three million cellular subscribers per month from Jan 2008. BSNL has repaid...

SAP TO FOCUS MORE ON RETAIL SPACE (the company intends to add 160 developers and value engineers).
February 26, 2007... (From India Business Insight) SAP is planning to focus more on the retail segment in India. The company intends to add 160 developers and value engineers in India. SAP India had set up a Centre for Retail Excellence in Mumbai in...

ESYS TECH PLANS Rs250-CRORE PC PLANT IN HIMACHAL (the company is also planning to set up a plant in the South).
February 26, 2007... (From India Business Insight) eSys Technologies Ltd is planning to set up a facility to manufacture personal computers (PC) in Himachal Pradesh with an investment of Rs250 crore. The company is a subsidiary of Teledata Informatics...

NOW, MICROSOFT ORIGINALS A PHONE CALL AWAY (the company has entered into a tie-up with Redington).
February 26, 2007... (From India Business Insight) Microsoft Corporation is planning to offer its original software to consumers on telephone or online. The company has entered into a tie-up with Redington to provide access to the original software. ...

KOTAK AMC JOINS HANDS WITH T.ROWE FOR GLOBAL FUND (the company intends to file the offer document in two weeks).
February 26, 2007... (From India Business Insight) Kotak Asset Management Company (AMC) has entered into a tie-up with T. Rowe Price of the US to launch a global fund. The fund will invest in Global Emerging Markets Equity Fund. The company intends to...

SEBI SLAPS PENALTY ON RDB INDUSTRIES PROMOTERS (the group had gained ownership of New Tobacco Ltd).
February 26, 2007... (From India Business Insight) The Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs20 lakh on the promoter group members of RDB Industries. The promoter group had gained ownership of New Tobacco Ltd in 2006...

UCO BANK PLANS FOLLOW-ON ISSUE NEXT YEAR (capital adequacy ratio of the bank is at 11.50 percent).
February 26, 2007... (From India Business Insight) UCO Bank is planning to float a follow-on public issue in 2007- 2008. The bank has a paid-up equity capital of Rs799 crore and intends to convert part of the capital into preference capital or perpetual...

SEBI LIFTS BAN ON KARVY FOR REGISTRAR (the regulator had barred the company on 26 Apr 2006).
February 26, 2007... (From India Business Insight) The Securities and Exchange Board of India (SEBI) has lifted the ban on Karvy Computershare Pvt Ltd (KCPL) from acting as a registrar to issues. The regulator had barred the company on 26 Apr 2006 from...

JASMIN INFOTECH'S NEW CENTRE (to assist customers in Japan, Europe, the US and South East Asia).
February 26, 2007... (From India Business Insight) Jasmine Infotech Ltd has set up a new development centre in Chennai at a cost of Rs9 crore. The company offers embedded solutions for consumer electronics companies in Japan and Germany. The new centre...

MORE CORCODILE RETAIL STORES PLANNED (S.P. Apparel has opened its third retail store in Bangalore).
February 26, 2007... (From India Business Insight) S.P. Apparels is planning to open more Crocodile retail stores in India. The company has opened its third Crocodile retail store in Bangalore. S.P. Apparels is planning to introduce new collections for...

PARAMOUNT INCREASES MADURAI-CHENNAI LINK (the airline intends to add 15 more aircraft in the next three years).
February 26, 2007... (From India Business Insight) Paramount Airways has introduced an additional flight between Madurai and Chennai from 26 Feb 2007. The airline intends to improve business development in tier II towns and promote tourism. Paramount...

HUTCH DENIES ESSAR'S RIGHTS CLAIM (has also clarified that Essar group's bid did not match Vodafone's bid).
February 26, 2007... (From India Business Insight) Hutchison Telecommunications International Ltd (HTIL) has refuted the Essar Group's claim of right of first refusal (ROFR) over HTIL's stake. According to HTIL, such a clause did not exist in the agreement...

GoM TO LOOK INTO HZL STAKE SALE (Government of India holds 29.54% stake in HZL).
February 26, 2007... (From India Business Insight) The Cabinet Committee on Economic Affairs (CCEA) has referred the issue of selling the Government of India's residual 30 percent stake in Hindustan Zinc Ltd (HZL) to a Group of Ministers (GoM) for a final...

RELEASE OF 21,200 TONNE MAIZE TO CHECK INFLATION (will be available from the five lakh tonnes of surplus stock).
February 26, 2007... (From India Business Insight) The cabinet Committee on Economic Affairs (CCEA) has approved the release of 21,200 tonnes of maize at Rs450 per quintal to West Bengal for distribution to poultry farmers. The maize will be available from...

FREIGHT RATES ON ESSENTIAL GOODS LIKELY TO BE CUT (products identified include pulses, edible oil, ghee and inputs for agriculture).
February 26, 2007... (From India Business Insight) The Ministry of Railways, Government of India, is likely to reduce freight rates on essential commodities in the Budget 2007- 2008 to keep inflation under control. The products identified include pulses,...

COMPETITIVE BIDDING LIKELY FOR COAL BLOCKS (Mines and Minerals Development and Regulation (MMDR) Act to be amended).
February 26, 2007... (From India Business Insight) The Government of India is likely to introduce competitive bidding for coal blocks for captive mining. A Cabinet note as been forwarded to all stakeholders to get their feedback on the proposed amendment to...

NOD FOR TAKE OVER OF BANGALORE CENTRAL CO-OP BANK (will be merged with SVCB).
February 26, 2007... (From India Business Insight) The Karnataka state Co-operative Registrar has approved the takeover of the Bangalore Central Co-operative Bank Ltd (BCCB) by Shamrao Vithal Co-operative Bank Ltd (SVCB). The merger process will be completed...

SINTEX IN PACT WITH GUJARAT FOR LOW-COST HOMES (proposed investment in the project is estimated at Rs750 crore).
February 26, 2007... (From India Business Insight) Sintex Industries Ltd (SIL) as signed an agreement with Gujarat Urban Development Company, Government of Gujarat, for the construction of 50,000 economically weaker sections (EWS) quarters in Ahmedabad,...

ORGANON PLANS NEW UNIT IN BENGAL (at present operates through five tolled facilities).
February 26, 2007... (From India Business Insight) Organon India Ltd, subsidiary of Organon Participations BV, will set up a state-of-the-art manufacturing facility in West Bengal in 2007. Organon Participations is the pharmaceutical division of Akzo Nobel....

GANESH HOUSING TIES UP WITH GUJARAT GOVT (for developing Smart City Integrated Township).
February 26, 2007... (From India Business Insight) Ganesh Housing Corporation (GHC) has signed a memorandum of understanding (MoU) with the Government of Gujarat for developing Smart City Integrated Township at Godhavi and Garodia villages near Ahmedabad. ...

KALYANI LEMMERZ COMPLETES EXPANSION (plans to set up a new plant to produce steel passenger car wheels).
February 26, 2007... (From India Business Insight) Kalyani Lammerz has completed expansion of its state-of-the-art commercial vehicle steel facility in Pune. The company plans to set up a new plant to produce steel passenger car wheels. The plant will be...

REXONA TO BE 30 MILLION EUROS BRAND BY 2010 (registered a turnover of Rs22 crore in 2006).
February 26, 2007... (From India Business Insight) Hindustan Lever Ltd (HLL) plans to make its Rexona deodorant brand a 30 million euros brand over the next three years. Globally Rexona is a one billion euros brand. The brand has targeted 20 million...

NASSCOM SLOTS RS100 CRORE TO FUND INNOVATION (will provide seed stage funding to companies involved in IP creation).
February 26, 2007... (From India Business Insight) The Rs100 crore Innovation Fund launched by the National Association of Software and Services Companies (Nasscom) will provide seed stage funding to companies involved in intellectual property (IP) creation....

RELIANCE PLANS $400 MILLION JETTY IN KAKINADA (will receive gas from the company's Dhirubhai-6 block).
February 26, 2007... (From India Business Insight) Reliance Industries Ltd (RIL) plans to set up a gas-receiving jetty in Kakinada. The jetty, which is estimated to cost $300-400 million, will receive gas from the company's Dhirubhai-6 block and feed it to...

MUKESH, ANIL EYE BANGALORE IT PROJECT (have bid for the Rs50,000 crore, 10,000 acre Knowledge City project).
February 26, 2007... (From India Business Insight) Mukesh and Anil Ambani have bid for the Rs50,000 crore, 10,000 acre Knowledge City project. The project is being developed in Bidadi near Bangalore. The project when completed will meet the space requirements...

GAIL EARMARKS $2.7 BILLION TO TAKE ON RELIANCE (will add 4,000 kilometres to its 6,000-kilometre pipeline network).
February 26, 2007... (From India Business Insight) GAIL (India) will invest $2.7 billion for expanding its pipeline network by two-thirds as Reliance Industries Ltd (RIL) plans to foray into the market. The company will add 4,000 kilometres to its...

GIC, DEUTSCHE, L&T VIE FOR SICOM HOLDING (will acquire the strake from SUUTI).
February 26, 2007... (From India Business Insight) Government of Singapore Investment Corporation (GIC), Deutsche Bank, Standard Chartered Bank and L&T Infrastructure have submitted bids for acquiring the 40 percent stake of the Specified Undertaking of Unit...

JM FINANCIAL TO RAMP UP KEY BUSINESSES (will focus on alternative assets, investment banking, M&A advisory and capital market).
February 26, 2007... (From India Business Insight) JM Financial Group plans to increase its presence in major businesses. The company will focus on alternative assets, investment banking, M&A advisory and capital market. JM Financial has raised $300...

ANDHRA PAPER LINES UP Rs300 CRORE PLAN (is expanding its paper production capacity by 85,000 tpa).
February 26, 2007... (From India Business Insight) Andhra Pradesh Paper Mills Ltd (APPML) is expanding its paper production capacity by 85,000 tonnes per annum (tpa) at a cost of Rs300 crore. The company's installed capacity, following the expansion, is...

FIN TECH EYES STAKE IN OTCEI (has applied to SEBI for setting up a separate stock exchange for SMEs).
February 26, 2007... (From India Business Insight) Financial Technologies has evinced interest in acquiring stakes in the Over the Counter Exchange of India (OTCEI) and the Interconnected Stock Exchange (ISE). The company has applied to the Securities and...

SREI VENTURE PLANNING $250 MILLION CORE FUND (new fund will focus on the entire range of infrastructure projects).
February 26, 2007... (From India Business Insight) Srei Venture Capital plans to raise $250 million infrastructure focussed fund by Apr 2007. The company will target the Alternative Investment Market (AIM) of the UK or the UK main market to raise the...

SHOPPER'S STOP TO TAKE 51% STAKE IN HYPERCITY (by 2008).
February 26, 2007... (From India Business Insight) Shopper's Stop of the K Raheja group will acquire 51 percent stake in HyperCity Retail (India) Pvt Ltd by 2008. HyperCity is a large format store selling consumer durables, food and apparel at low prices....

BID PANEL TO DECIDE FATE OF SASAN POWER (due to the change in ownership of Globeleq Singapore from Globeleq Ltd of the UK to Lanco Infra and Jindal Steel & Power Ltd).
February 26, 2007... (From India Business Insight) Globeleq Singapore and Lanco Infra had together won the bid of the Rs16,000-crore Sasan ultra mega power project. The bid is now being referred back to the tender evaluation committee. The committee was...

WPP MERGES BATES WITH DAVID (to be known as Bates David Enterprise).
February 26, 2007... (From India Business Insight) WPP Group Plc has been operating in India as Bates Asia. It has now merged Bates Asia with David, a network of Ogilvy. The new company formed is called Bates David Enterprise. The merger has approval...

SYNDICATE BANK BOND ISSUE SEES GOOD DEMAND (the bank expects to mobilise Rs200 crore through the issue).
February 26, 2007... (From India Business Insight) Syndicate Bank has received good response for its upper tier-II bond issue that opened for subscription on 5 Feb 2007. The Bank had then proposed an issue size of Rs100 crore with a greenshoe option of Rs140...

RUPEE FALLS AGAINST DOLLAR (by about six paise on 22 Feb 2007).
February 26, 2007... (From India Business Insight) The rupee declined by about six paise against the US dollar on 22 Feb 2007. The rupee opened the day at 44.19/20, declined to an intra-day low of 44.2850 and closed at 44.25, as against the close of...

BOND PRICES DECLINE (by about 27 paise on 22 Feb 2007).
February 26, 2007... (From India Business Insight) Bond prices have decreased by about 27 paise on 22 Feb 2007, while yields increased by five basis points. The 8.07 percent 10- year 2017 paper opened at Rs100.95 (7.92 percent YTM) and closed the day at...

CALL RATES MARGINALLY LOWER (at 6.40-6.50% on 22 Feb 2007, as against 6.80-7% on 21 Feb 2007).
February 26, 2007... (From India Business Insight) Call rates have declined to 6.40-6.50 percent on 22 Feb 2007, as against 6.80-7 percent on 21 Feb 2007. In the first one-day reverse-repo auction under LAF, the Reserve Bank of India (RBI) received and...

UCO BANK BEGINS MOVING RECAP BONDS INTO SLR SLOT (converts Rs860 crore worth of Government recapitalisation bonds into bonds eligible for SLR status).
February 26, 2007... (From India Business Insight) UCO Bank, which possesses Government of India recapitalisation bonds worth Rs2,260 crore, has converted Rs860 crore worth of bonds into those eligible for SLR status. This means that for incremental deposits...

UNION BANK TIES UP WITH NEW INDIA ASSURANCE (to launch the 'Union Health Care' medical insurance policy for UBI's customers).
February 26, 2007... (From India Business Insight) Union Bank of India (UBI) has tied up with New India Assurance Co Ltd to launch the 'Union Health Care' medical insurance policy for UBI's customers. The policy will be offered at a competitive premium for...

UTI BANK, IFC ARM JOIN HANDS FOR SME FINANCING (in North-East India).
February 26, 2007... (From India Business Insight) UTI Bank has signed a memorandum of understanding (MoU) with the International Finance Corporation's (IFC's) South Asia Enterprise Development Facility (SAEDF). Under the MoU, SAEDF will help UTI Bank...

CMA CGM PLANS TO LINK CHENNAI WITH EUROPE, AUSTRALIA (through the New Europe Macarene Oceania service).
February 26, 2007... (From India Business Insight) CMA CGM, France's largest container line, proposes to introduce the New Europe Macarene Oceania (NEMO) service, which will offer direct connection from Australia/New Zealand to Chennai and from Chennai to...

RAILWAYS TO MODERNISE STATIONS ON PUBLIC-PRIVATE PARTNERSHIP BASIS (identifies 18 stations for modernisation).
February 26, 2007... (From India Business Insight) Indian Railways (IR) proposes to modernise railway stations across India into international-class facilities operated by private companies. The proposed facilities in the stations will include segregation of...

MANITOBA TO OFFER AVIATION TRAINING IN INDIA (Cubex India signs an agreement with Winnipeg Aviation and Red River College of Winnipeg, Manitoba).
February 26, 2007... (From India Business Insight) Cubex India has signed an agreement with Winnipeg Aviation and Red River College of Winnipeg, Manitoba, Canada. The agreement seeks to provide aviation management and aircraft maintenance engineering...

ETIHAD AIRWAYS KEEN TO TRIPLE SERVICES (to and from India in 12-18 months).
February 26, 2007... (From India Business Insight) Etihad Airways, the national airlines of the UAE, is keen on tripling the existing number of flights to and from India in 12- 18 months. The airline, which currently operates a daily flight out of Mumbai and...

DHL TO REVAMP BUSINESS IN INDIA, ASIA PACIFIC (to create a new business region within the Asia Pacific business area).
February 26, 2007... (From India Business Insight) DHL Express will restructure its business in India and the Asia Pacific region. The company proposes to create a new business region within the Asia Pacific business area to be called the South Asia area....

JNPT TO EXPAND BERTHING AT NHAVA SHEVA (at an estimated cost of Rs450 crore).
February 26, 2007... (From India Business Insight) The Jawaharlal Nehru Port Trust (JNPT) proposes to expand its berthing at the Nhava Sheva International Container Terminal at an estimated cost of Rs450 crore. JNPT intends to extend the quay length by 330...

CABINET NOD FOR RAIL FREIGHT CORRIDOR (at a cost of Rs28,181 crore).
February 26, 2007... (From India Business Insight) The Cabinet Committee on Economic Affairs (CCEA), Government of India, has approved a proposal by the Indian Railways (IR) to construct the Eastern and Western dedicated freight corridors at an aggregate cost...

COST RAISED FOR RURAL JOBS ACT (Government approves an increase in management cost for the implementation of NREGA to 4% of the total cost).
February 26, 2007... (From India Business Insight) The Council of Ministers, Government of India, has approved an increase in management cost for the implementation of the National Rural Employment Guarantee Act from the existing two percent to four percent...

FDI IN SUN DIRECT TV, SALIM GROUP ALLOWED (NKIDPL to act as operating-cum-holding company to make downstream investments in Indian companies).
February 26, 2007... (From India Business Insight) The Cabinet Committee on Economic Affairs (CCEA), Government of India, has approved Sun Direct TV's issue of equity shares accounting for 20 percent of its paid-up capital to South Asia Entertainment...

REVISED SANCTION FOR MARINE VESSELS BUY (for the Department of Customs at an increased cost of Rs358.19 crore).
February 26, 2007... (From India Business Insight) The Cabinet Committee on Economic Affairs (CCEA), Government of India, has given a revised sanction for the acquisition of 109 marine vessels at a cost of Rs358.19 crore, for use by the Department of...

CABINET CLEARS CST PHASE-OUT PROPOSAL (with a reduction in the ceiling rate from 4% to 3% effective from 1 Apr 2007).
February 26, 2007... (From India Business Insight) The Council of Ministers, Government of India, has approved the initiation of a process for phasing out Central sales tax (CST),with a reduction in the ceiling rate from 4 percent to 3 percent from 1 Apr...

NOD FOR SHOPPERS' STOP VENTURE (with Nuance Group AG for airport retailing).
February 26, 2007... (From India Business Insight) Shoppers' Stop and Nuance Group AG have received the approval of the Foreign Investment Promotion Board to set up a 50:50 joint venture, Nuance Group India Private Ltd (NGIPL), for airport retailing. ...

WPP MERGES BATES ASIA WITH DAVID (merger to be complete by Apr 2007).
February 26, 2007... (From India Business Insight) WPP is consolidating its networks in India and is merging Bates Asia's Indian operations with David, O&M India's second agency network. The merged entity will be named Bates David Enterprise. The merger...

HANDICRAFTS EXPORTS UP 14.57% IN APRIL-JAN (to $2.91 billion from $2.54 billion in Apr 2005-Jan 2006).
February 26, 2007... (From India Business Insight) India's handicraft exports have increased by 14.57 percent in dollar terms to $2.91 billion during Apr 2006-Jan2007 from $2.54 billion in Apr 2005-Jan 2006. In rupee terms, the exports have increased by...

MASSACHUSETTS-AMHERST VARSITY MBA IN INDIA (American Higher Education ties up with the University of Massachusetts-Amherst to offer MBA programme in India).
February 26, 2007... (From India Business Insight) American Higher Education India (AHEI), which currently offers education programmes of Harvard, Boston and Columbia universities in India, has tied up with the University of Massachusetts- Amherst to offer...

ILLYCAFE PLANS ROLLOUT OF LICENSED CHAIN IN SIX MONTHS (to open its 'Espressamente' global chain of licensed cafes in India by Aug 2007).
February 26, 2007... (From India Business Insight) illycafe, an Italian coffee company that produces and markets a unique blend of espresso coffee under a single brand, proposes to open its 'Espressamente' global chain of licensed cafes in India by Aug 2007....