India Business Insight articles from September 2006, page 5

India Business Insight archives from September 2006

BANYAN TREE, KAPICO INK SPA PACT (to develop a resort in Kerala).
September 27, 2006... (From India Business Insight) Banyan Tree Holdings of Singapore has formed a joint venture with the Kapico group of Kuwait to develop a resort in India. The Banyan Tree Resort & Spa will be located on the Vembanad Lake in Kerala. The...

TISHMAN TAKES $2-BILLION, 10-YEAR CALL (the first project is likely to begin in 2007).
September 27, 2006... (From India Business Insight) Tishman Speyer of the US has allied with ICICI Venture to invest in the development of real estates in India. The company proposes to spend $1- 2 billion in the next 10 years to set up 4 projects in India....

SAIL TO MERGE NINL WITH ITSELF (will acquire 100% shares).
September 27, 2006... (From India Business Insight) The Steel Authority of India Ltd (SAIL) will merge Neelachal Ispat Nigam Ltd of Orissa by acquiring all the shares of the company. SAIL will acquire the shares that were earlier distributed among MMTC...

DIGITAL STILL CAMERA FROM SAMSUNG INDIA (the NV10 is priced Rs23,990).
September 27, 2006... (From India Business Insight) Samsung India has introduced the world's first 10.1 mega pixel digital still camera, NV10. The NV10 includes an innovative user interface and incorporates an anti-shake system. The camera is equipped with a...

AAVA MINERAL WATER (has been launched in Mumbai).
September 27, 2006... (From India Business Insight) The Aava brand natural mineral water has been launched in Mumbai. Trader's In markets it. The Aava is manufactured in a fully automatic and hygienic air-conditioned water plant. The water is sourced...

FABER INDIA'S CHIMNEYS AND GAS HOBS (the chimneys cost Rs30,000-80,000, gas hobs are priced between Rs6,990 and Rs19,990).
September 27, 2006... (From India Business Insight) Faber India has launched its 'Collection' series of 15 hi-tech, state- of-the-art, noiseless, all-glass and stainless steel kitchen hoods (chimneys) that have electronic touch control. These chimneys are...

WOOING THE WOMEN (the Big Bazaar has launched My World, a women's magazine).
September 27, 2006... (From India Business Insight) The Big Bazaar has launched My World, a special magazine as part of its customer relationship management. My World is a women's magazine and it will not be sold on newsstands. My World, priced Rs20 per copy,...

1.24 LAKH TON HORTICULTURE PRODUCE IN JAMMU (in 2005-2006 as against 1,03,167 tonnes in 2004-2005).
September 27, 2006... (From India Business Insight) Horticulture produce of Jammu increased to 1,24,475 tonnes in 2005-2006 (1,03,167 tonnes in 2004-2005). Various fruit crops were cultivated in 88,191 hectares of land (83,405 hectares). Under the new...

FUJITSU TIES UP WITH REDINGTON TO BOOST MARKET PRESENCE (plans to stock, sell and support the information technology infrastructure products across India).
September 27, 2006... (From India Business Insight) Fujitsu has tied up with Redington India Ltd to expand its market presence in India. With Redington as its national level distributor, Fujitsu plans to stock, sell and support their information...

SENAO TIES UP WITH RASHI PERIPHERALS (for national distribution of its complete range of indoor and outdoor wireless solutions).
September 27, 2006... (From India Business Insight) Senao Equipments Pvt Ltd has announced that it has entered into a tie up with Rashi Peripherals for national distribution of its complete range of indoor and outdoor wireless solutions. Rashi Peripherals...

LG POSTS RECORD SALE OF ONE LAKH MONITORS IN ONE MONTH (commands a market share of 23 percent in LCD monitors and 35 percent in CRT monitors).
September 27, 2006... (From India Business Insight) LG Electronics India Pvt Ltd (LGEIL)has achieved record sales of 1,00,000 monitors in Jul 2006. LGEIL currently has eight models of liquid crystal display (LCD) monitors and five models of cathode ray tube...

LVMH, CHANEL TO DRESS UP INDIA (permitted to start joint ventures in the country).
September 27, 2006... (From India Business Insight) LVMH and Chanel SA have got the approval of the Foreign Investment Promotion Board, Government of India, to start joint ventures in retail in the country. LVMH proposes to acquire 51 percent equity in the new...

COSTA COFFEE BREWS INDIA-ONLY MENU (intends to increase the outlets from 13 to 300 by 2011).
September 27, 2006... (From India Business Insight) Costa Coffee proposes to launch a customised menu for its Indian customers in the country. The company, a part of Whitbread Plc, a British leisure company, intends to increase its outlets from 13 to 300 by...

RETAIL FUND FOR JEWELLERY STORE (the Infinity launched with an investment of Rs50 crore to finance joint ventures with franchisees having 3 or more jewellery stores).
September 27, 2006... (From India Business Insight) Gitanjali Gems Ltd (GGL), a Rs2,000-crore Indian jewellery company, has introduced the concept of a retail fund in the jewellery industry in the country. The jewellery company has launched Infinity, with a...

KOUTONS OUTLETS IN CHANDIGARH, VICINITY (the showrooms have the entire range of men's garments as well as accessories).
September 27, 2006... (From India Business Insight) Koutons, an Indian men's wear brand, launched 2 showrooms at Chandigarh and Panchkula in May 2006. The showrooms display the entire range of men's garments as well as accessories. The company proposes to...

REALTY TAKES SPACE IN ADVERTISEMENT MARKET (the total advertising revenue has increased from 7% in 2004 to 11% in 2005).
September 27, 2006... (From India Business Insight) The advertising expenditures in real estate have increased from $2 billion in 2003 to $2.6 billion in 2005 in India. The total advertising revenue increased from 7 percent in 2004 to 11 percent in 2005....

ZENITH COMPUTERS TO EXPAND, INTRODUCE DIGITAL HOME (the company hopes to increase its retail stores from 450 to 1,000 in more than 240 Indian cities by Dec 2006).
September 27, 2006... (From India Business Insight) Zenith Computers hopes to increase its retail stores from 450 to 1,000 in more than 240 Indian cities by Dec 2006 as part of its expansion plans. The Digital Home Experience, launched in Jun 2006 at...

IPOD NOW THE APPLE OF HCL'S EYE (the company intends to offer the iPods, priced Rs4,000- Rs23,000, in music shops and electronic stores).
September 27, 2006... (From India Business Insight) HCL Infosystems proposes to distribute and sell Apple iPods in India besides providing sales ad service support. It intends to offer the iPods, priced Rs4,000-23,000, in music shops, electronic stores and...

VLCC PLANS Rs300 CRORE INVESTMENT FOR EXPANSION (intends to start beauty treatment centres in India and in the South Asian Association for Regional Co-operation member-countries).
September 27, 2006... (From India Business Insight) VLCC proposes to invest Rs300 crore on expansion in India and abroad. It intends to start beauty treatment centres in India and in the South Asian Association for Regional Co-operation member-countries...

REALTY MAJOR SEEKS GLOBAL BRANDING (Suchirindia Developers of Hyderabad proposes to open a branch office in the Dubai free trade zone by Nov or Dec 2006).
September 27, 2006... (From India Business Insight) Suchirindia Developers Pvt Ltd of Hyderabad in Andhra Pradesh intends to open a branch office in the Dubai free trade zone by Nov or Dec 2006.The overseas office will enable the company to place itself as an...

THE RETAIL MARKET IS LARGE ENOUGH FOR PLAYERS TO CO-EXIST (modern retail outlets offer more in the lifestyle and value segments to customers when compared to conventional retail shops).
September 27, 2006... (From India Business Insight) The $300-billion Indian retail market with 3 percent share of modern retail is large enough to accommodate multiple retail operators. However, modern retail outlets offer more in the lifestyle and value...

WHEAT PRICES FLARE UP DESPITE MASSIVE IMPORTS (futures contract prices for Nov 2006 have been fixed for a quintal at Rs1,006 and the Dec 2006 deliveries at Rs1,019).
September 27, 2006... (From India Business Insight) Wheat price has increased to Rs1,000 a quintal despite imports by the Government of India. The spot price of wheat in Delhi was Rs966 for a quintal in Feb 2006 after peaking to Rs985 on 4 Feb 2006. Wheat...

FINANCE MINISTER RULES OUT REDUCTION IN FERTILISER, FOOD SUBSIDIES (fertiliser subsidy involves an outlay of Rs1,500 crore).
September 27, 2006... (From India Business Insight) The Minister of Finance of the Government of India has refused to reduce food and fertiliser subsidies. The budget for 2006-2007 has allotted Rs17,385 crore for the fertiliser sector and Rs16,200 crore for...

IIPM ON AN AGGRESSIVE DRIVE (the course fee for IIPM's 16-month post-graduate diploma course is Rs1.25 lakh).
September 27, 2006... (From India Business Insight) The Indian Institute of Plantation Management (IIPM) in Bangalore offers a 16-month post-graduate diploma course in agriculture business and plantation management course. It trains students in managerial...

ANDHRA PRADESH TO GET 62 FOOD PROCESSING UNITS (involving an expenditure of Rs524.33 crore).
September 27, 2006... (From India Business Insight) The Industries Department of Andhra Pradesh has approved the setting up of 62 food processing industries involving an investment of Rs524.33 crore. Vayhan Coffee Ltd has invested Rs64.86 crore to set up...

28-CRORE FOOD PARK TO BE SET UP AT SANGRUR (will be established over 30 acres).
September 27, 2006... (From India Business Insight) The International Fresh Farm Products India Ltd proposes to establish a Rs28-crore food park at Channo in Sangrur District in Punjab. The food park will help the small and medium food processing...

CLEAN CHIT TO INDIAN GRAPES EXPORT TO EUROPEAN UNION (the grapes exports have increased from 14,606 tonnes in 2001-2002 to 35,000 tonnes in 2005-2006).
September 27, 2006... (From India Business Insight) The Pesticides Safety Directorate, an agency of the UK Department for Environment, Food and Rural Affairs, has cleared the export of Indian grapes to the European Union (EU). The Indian grapes have been...

BARNIE'S TO GO RETAIL IN INDIA (by Aug 2006, the company will invest Rs25 crore in the first year of its operations and open 25 stores in the country).
September 27, 2006... (From India Business Insight) Barnie's Gourmet Coffee & Tea Company of the US proposes to open its first retail outlet in India by Aug 2006. It will spend Rs75-80 crore on the Indian operations over 5 years. Barnie's will invest Rs25...

NFDB SEEKS CABINET'S APPROVAL OF Rs2,100 CRORE FOR FISHERIES PROJECT (the scheme will increase fish production by 3.9 million tonnes).
September 27, 2006... (From India Business Insight) The National Fisheries Development Board (NFDB) is initiating a Rs2,100- crore fisheries project. The investment will be over 6 years. NFDB has sought approval from the Ministry of Agriculture of the...

GODREJ AGROVET TO INVEST Rs500 CRORE FOR PALM OIL PRODUCTION (extending cultivation of plants to 50,000-1,00,000 hectares in 5- 10 years).
September 27, 2006... (From India Business Insight) Godrej Agrovet (GA) proposes to invest Rs500 crore on palm oil production. The funds will be used to increase the area under oil palm cultivation to 50,000-1,00,000 hectares in 5-10 years. It is...

ADANI GROUP TO INVEST IN FRUITS, VEGETABLES BUSINESS (units have been set up set up at Rewali, Sainj and Mehandli to store apples up to 1 year).
September 27, 2006... (From India Business Insight) The Adani group intends to invest Rs1,000 crore by 2009 for marketing fresh fruits and vegetables. It proposes to procure 18,000 tonnes of apples from Himachal Pradesh and keep them in controlled atmosphere...

LT OVERSEAS' READY-TO-COOK RICE (lemon, mushroom and tomato flavoured ready-to-cook rice varieties are to be introduced).
September 27, 2006... (From India Business Insight) LT Overseas, the producers of Dawat brand of basmati rice, proposes to introduce ready-to-cook flavoured rice. It will launch lemon, mushroom and tomato flavoured rice. The company has tied up with...

KURKURE MASTI SQUARES LAUNCHED (a 45-gram Kurkure Masti Squares pack will cost Rs10 and a 110-gram pack will cost Rs20).
September 27, 2006... (From India Business Insight) Frito-Lay India, a company owned by PepsiCo India, has launched a new variant of Kurkure called Kurkure Masti Squares. The new snack is available in sweet and sour flavours. It is priced Rs10 for a...

SCHEDULE K AMENDMENT NOTIFIED - ASPIRIN, QUININE OUT OF HOUSEHOLD REMEDIES LIST (Aspirin will now be sold as an over-the-counter drug at licensed outlets).
September 27, 2006... (From India Business Insight) The Government of India has amended Schedule K of the Drugs and Cosmetics Act to exclude Aspirin and Quinine Sulphate IP from the list of household remedies. It has also removed the restriction on the sale...

BIO-RAD LABS LAUNCHES D-10 AND VARIANT II TURBO SYSTEM IN INDIA (the fully automated systems involve simple and efficient methods of identifying haemoglobin).
September 27, 2006... (From India Business Insight) The D-10 and Variant II Turbo system, launched by Bio-Rad Laboratories, are fully automated systems that involve simple and efficient methods of identifying haemoglobin. The Variant II Turbo, with HPLC...

GOEL INTRODUCES JUMBO ROTARY FILM EVAPORATOR (the cylindrical shaped evaporator is used in research and development by chemical and pharmaceutical industries).
September 27, 2006... (From India Business Insight) Goel Scientific Glass Works (P) Ltd, an industrial glassware manufacturer, has introduced the Jumbo Rotary Film Evaporator having a capacity of 400 litres. The cylindrical shaped Evaporator, made of...

CENTRE SPENDS Rs233 CRORE FOR PHARMA R&D PROMOTION (also offers research fellowships and income tax deductions as initiatives).
September 27, 2006... (From India Business Insight) The Government of India has invested Rs233 crore between 2003 and 2006 to promote research and development in the drugs and pharmaceutical sector. The various programmes introduced by the Government...

SERUM INSTITUTE PICKS UP 14% STAKE IN LIPOXEN PLC (the subscription agreement enables SIIL to foray into oncology and recombinant products segments).
September 27, 2006... (From India Business Insight) Serum Institute of India Ltd (SIIL) has acquired 14 percent equity in Lipoxen PLC for 2.6 million British pound sterling, through a subscription agreement and associated warrant agreement. Accordingly,...

GILEAD IN PACT WITH HETERO, STRIDES, EMCURE FOR ANTI-AIDS DRUGS (to produce and distribute the drug, tenofovir disoproxil, to 95 low-income countries including India).
September 27, 2006... (From India Business Insight) Gilead Sciences of USA, in a non-exclusive licence agreement with Emcure Pharmaceuticals Ltd, Hetero Drugs Ltd and Strides Arcolab Ltd will provide generic versions of an anti-AIDS drug. The Indian...

KARNATAKA GRANTS Rs5 CRORE FOR INSTITUTE OF NEPHRO-UROLOGY (the autonomous facility will offer treatment to the poor for heart and kidney ailments as well as cancer).
September 27, 2006... (From India Business Insight) The Government of Karnataka has sanctioned Rs5 crore of the total amount of Rs17 crore earmarked to start the Institute of Nephro-Urology at Victoria Hospital in Bangalore. The autonomous facility, to be...

SONOSITE TO EXPAND HAND-CARRIED ULTRASOUND SYSTEMS MARKET IN INDIA (the cost-effective systems are used in non-radiating imaging).
September 27, 2006... (From India Business Insight) SonoSite Inc of the US plans to expand the market for hand-carried ultrasound systems in India. Talks are in progress with the Government of India, private and Army and Navy hospitals across the country. The...

SANKARA NETHRALAYA TO COMMENCE CONSTRUCTION WORK ON NIRVO SOON (the institute will offer consultation services and promote research in ophthalmology).
September 27, 2006... (From India Business Insight) Sankara Nethralaya of Chennai plans to start building the National Institute for Research in Vision Science and Ophthalmology (NIRVO) by Sep 2006. The Institute, to be opened in Dec 2007, will offer...

SUVEN LIFE TO PRESENT NEW DRUG DATA AT NEUROSCIENCE MEETING (scheduled during 14-18 Oct 2006 in Atlanta, USA).
September 27, 2006... (From India Business Insight) Suven Life Sciences Ltd proposes to present pre-clinical data on the drug compounds 5-HT 6 antagonists at the annual meeting of the Society for Neuroscience, scheduled during 14-18 Oct 2006, in Atlanta,...

PE INVESTMENTS RISE IN LIFE SCIENCES SECTOR BETWEEN JAN 05-JULY 06 (five PE investments estimated at $60 million transacted in Apr-Jun 2006).
September 27, 2006... (From India Business Insight) The increase in private equity (PE) investments in life sciences is directly related to the support offered by the healthcare industry in India. Blackstone Group and its affiliates, after launching its PE...

TN GOVT PLANS PHARMA PARK AT NANGUNERI, INDUSTRY HAILS THE DECISION (the park to accommodate 40-50 large, medium and small scale pharmaceutical manufacturers and allied institutions).
September 27, 2006... (From India Business Insight) The Government of Tamil Nadu plans to start a Pharma Park over 250 acres of land at Nanguneri in Tirunelveli. The park is expected to accommodate 40-50 large, medium and small scale pharmaceutical...

STRIDES GETS US NOD FOR NEVIRAPINE (the drug prevents reproduction in the AIDS virus).
September 27, 2006... (From India Business Insight) Strides Arcolab Ltd plans to manufacture the drug Nevirapine 200mg used for treatment of AIDS. The company has received the first Abbreviated New Drug Application (ANDA) approval from the US Food and Drug...

MERCK TO LAUNCH MORE ONCOLOGY PRODUCTS IN INDIA (the parent company Merck KGaA is conducting clinical trials on almost 30 compounds).
September 27, 2006... (From India Business Insight) Merck Specialties Pvt Ltd plans to introduce tegafur-uracil in India in 2007 for treatment of colorectal cancer. The parent company Merck KGaA is in the process of conducting clinical trials on almost 30...

ORCHID GETS US NOD FOR CEFOTAXIME (obtains approval from the US Food and Drug Administration for three of its ANDAs).
September 27, 2006... (From India Business Insight) Orchid Chemicals and Pharmaceuticals Ltd plans to launch Cefotaxime injection across the US through its distribution partner Apotex. The company obtained approval from the US Food and Drug Administration for...

PGI READY TO PROVIDE TELEMEDICINE FACILITY TO 5 MORE PUNJAB HOSPITALS (including Medical Colleges at Patiala, Amritsar and Faridakot).
September 27, 2006... (From India Business Insight) The Postgraduate Institute of Medical Education and Research (PGIMER), Chandigarh, will provide telemedicine facility to five more hospitals in Punjab shortly. These five hospitals are; the medical colleges...

HARYANA TO DOUBLE POWER GENERATION BY 2010 (to 8,000 MW in four years with an investment of Rs8,000 crore).
September 27, 2006... (From India Business Insight) Haryana will double the power generation to 8,000 megawatts (MW) in the next four years with an investment of Rs8,000 crore. The current initiatives include a 600 MW plant at Yamunanagar and a...

SOLAR STREET LIGHT PROJECT TAKES OFF (with the installation of 12 lights in the Central Office of Nagpur Municipal Corporation).
September 27, 2006... (From India Business Insight) The solar street light project in Nagpur was launched recently with twelve lights in the Central Office of Nagpur Municipal Corporation (NMC). Each solar light is of 11 Watts (Ws) and will be on from sunset...

SAMATA BANK ACCEPTED DEPOSITS DESPITE RESERVE BANK DICTUM (during Jun and Jul 2006 despite RBI directive in May 2006).
September 27, 2006... (From India Business Insight) Reserve Bank of India had directed Samata Sahakari Bank in May 2006 not to accept fresh deposits and also not to grant any fresh loans. The bank was also directed to halt premature withdrawals of term...

WAR FOR TALENT (talent management is the single most important issue bothering CEOs and business heads in India across sectors).
September 27, 2006... (From India Business Insight) Talent management is the single most important issue bothering the chief executive officers (CEOs) and business heads across sectors in India including information technology (IT), telecom, fast moving...

TELENITY TO EXPAND R&D IN INDIA (to set up an R&D centre in India at either New Delhi or Pune by Dec 2007).
September 27, 2006... (From India Business Insight) Telenity, a communications company based in the US, will set up a research and development (R&D) centre in India either at New Delhi or Pune by Dec 2007 to offer application-based services to consumers. ...

FOURSOFT LAUNCHES OPERATIONS IN PUNE (the Pune technology centre is scheduled to commence operations from Aug 2006 employing 200-300 employees).
September 27, 2006... (From India Business Insight) Foursoft Ltd is opening a technology centre in Pune. The centre, scheduled to commence operations from Aug 2006, will employ 200- 300 employees. Foursoft is venturing into multi-site software...

BANDSPEED TO SET UP ODC IN BANGALORE (Tavant Technologies to provide the IT infrastructure, office space, payroll management and back-office services).
September 27, 2006... (From India Business Insight) Bandspeed Inc, a Wi-Fi network management solutions company, has signed an agreement with Tavant Technologies to set up an offshore development centre (ODC) in Bangalore. As per the agreement, Tavant...

SAIL LOOKS OUT FOR NEW ORE SOURCES (Chiria mines in Jharkhand involved in a legal dispute).
September 27, 2006... (From India Business Insight) Steel Authority of India Ltd is planning to develop linkages with new iron ore mines in Chhattisgarh and Jharkhand to secure iron ore supplies for meeting the additional requirements for its expansion...

SUN PHARMA HOPES TO LIST R&D UNIT AS SEPARATE ENTITY (is expected to get the requisite approvals in 2-3 months).
September 27, 2006... (From India Business Insight) Sun Pharmaceuticals Ltd (SPL) is expecting its research and development (R&D) unit to get listed as a separate entity by Jan 2007. The company is expected to get the requisite approvals in 2- 3 months....

HIGHER PLAN ALLOCATION FOR S&T SOUGHT (from Rs250 billion allotted in the 10th Plan to Rs1,000 billion in the 11th Plan).
September 27, 2006... (From India Business Insight) The Ministry of Science and Technology, Government of India, has asked the Planning Commission for a fourfold increase in allocation from Rs250 billion allotted in the 10th Plan to Rs1,000 billion in the 11th...

PAC SOFT IN TALKS WITH GOVTS TO ROLL OUT EDUCATION MODULE (will be launching its education ERP solution Lyceum in 40,000 schools in Karnataka by Jan 2007).
September 27, 2006... (From India Business Insight) Pac Soft Solutions Ltd of Bangalore is holding discussions with the governments of Andhra Pradesh, Goa, Maharashtra and Gujarat to offer them its education enterprise resource planning (ERP) solution Lyceum....

FIEM INDUSTRIES: UP AGAINST THE GOLIATHS (earns 70 percent of its total income from supplies to TVS Motors).
September 27, 2006... (From India Business Insight) Fiem Industries Ltd (FIEM) is a manufacturer of automotive lighting and signalling equipment and rear view mirrors. FIEM supplies its products mainly to two-wheeler manufacturers. Supplies to TVS Motors,...

APOLLO TYRES: NOT A ROLLER COASTER RIDE (net profit declines by three percent to Rs16 crore in Apr- Jun 2006).
September 27, 2006... (From India Business Insight) Apollo Tyres Ltd (ATL) is India's second largest tyre manufacturer. ATL earns 75 percent of its total revenue from the replacement market. ATL recently acquired one of South Africa's best-known brands,...

TATA STEEL: BETTING ON VALUE-ADDED PRODUCTS (World Steel Dynamics has ranked Tata Steel as number one among the world-class steel manufacturers).
September 27, 2006... (From India Business Insight) Tata Steel is the biggest private sector steel manufacturer in India. The company manufactures and distributes steel and other related products. For two years in succession, World Steel Dynamics has...

NTPC EYES DIRECT SALES TO BULK USERS (plans to expand its capacity to 51,000 MW by 2012).
September 27, 2006... (From India Business Insight) National Thermal Power Corporation is looking at moving away from the domination of state electricity boards in its customer base and start direct sale of power to bulk consumers. The company is targeting at...

NHAI TO EMBARK ON HUGE DATA COLLECTION EXERCISE (to develop a navigational system for the highways).
September 27, 2006... (From India Business Insight) The National Highway Authority of India is planning to initiate a massive data collection exercise along the Golden Quadrilateral and North South East West Corridor in order to develop a navigational system...

SAIL TAKING M&A ROUTE TO RAISE VALUE FOR STAKEHOLDERS (considers merger of Neelanchal Ispat and Maharashtra Electrosmelt).
September 27, 2006... (From India Business Insight) Steel Authority of India Ltd has decided to adopt the merger and acquisitions route in order to increase value for stakeholders. The company is looking at a merger of Neelanchal Ispat Nigam Ltd and...

MERCATOR TO FORAY INTO CHEMICALS SHIPMENT (acquiring three chemical tankers for $65 million).
September 27, 2006... (From India Business Insight) Shipping major Mercator Lines is looking to expand into the chemicals transportation segment to expand its business. The company will be acquiring three chemical tankers through its subsidiary Mercator...

NEW LOW-COST HEPATITIS-B VACCINE UNVEILED (Elovac-B priced 40 percent less than similar products).
September 27, 2006... (From India Business Insight) The National Dairy Development Board has launched a low-cost recombinant DNA Hepatitis-B vaccine under the Elovac-B brand name in the domestic market. The vaccine is produced by Human Biologicals...

ONGC DOES NOT AGREE WITH TARIFF COMMISSION PROPOSALS (commission recommends 8 percent increase in natural gas prices).
September 27, 2006... (From India Business Insight) Oil and Natural Gas Corporation is disagreeing with the recommendations of the Tariff Commission in its draft report on producer prices of gas. The Tariff Commission has recommended an eight percent...

COFFEE BOARD TO UNVEIL 'TRANSPARENCY SEAL' (move to bring in standardisation and quality control).
September 27, 2006... (From India Business Insight) The Coffee Board will soon be introducing a transparency seal in order to bring in standardisation and help consumers make an informed choice. Coffee traders have also agreed to introduce the transparency...

GODREJ, MALAYSIAN CO SIGN MoU FOR PALM PLANTATION (new venture to take up oil palm plantations in India).
September 27, 2006... (From India Business Insight) Godrej Agrovet Ltd has signed a joint venture agreement with IJM Plantations Berhad of Malaysia to promote and carry on the activities of oil palm plantations in India. The equal joint venture will take...

GIC AIMS TO BE LEAD REINSURER IN AFRO-ASIA (received permission for setting up branch in the UAE).
September 27, 2006... (From India Business Insight) General Insurance Company is looking to expand its business in the global market with a target of attaining leadership status in the Afro-Asian region. The company is positioning itself as a lead reinsurer...

KARNATAKA GOVT TO LAUNCH 'NEMMADI' (private consortium to set up 800 Nemmadi telecentres).
September 27, 2006... (From India Business Insight) The Government of Karnataka is set to launch Nemmadi, a one-stop shop for delivering various services to people at their doorsteps from 1 Oct 2006. The Nemmadi telecentres would provide 37 types of services...

CENTRE TO UPGRADE UTTARANCHAL AIRPORTS (to upgrade two airports at a cost of Rs150 crore).
September 27, 2006... (From India Business Insight) The Government of India has decided to upgrade the airports at Dehradun and Pantnagar in Uttaranchal in a move to increase connectivity and place the state on the world tourist map. The Centre intends to...

LEARNING SOLUTIONS CO SIGNS PACT WITH BENGAL (Everonn to set up IT infrastructure in 3 districts).
September 27, 2006... (From India Business Insight) Education and learning solutions provider Everonn Systems India Ltd has signed a six-year agreement with the Department of School Education, Government of West Bengal, to set up IT infrastructure and impart...

GSM COSTS LURE RELIANCE COMMUNICATIONS (has applied to the Department of Telecommunication for global system for mobile communication spectrum across India).
September 27, 2006... (From India Business Insight) Reliance Communications Ltd has said that cheaper equipment and handset prices for the next 300 million of its subscribers in India as the major reason for shifting of its focus to global system for mobile...

AIRLINES HEAD FOR MELTDOWN (are expected to lose about Rs2,200 crore in 2006).
September 27, 2006... (From India Business Insight) Indian airline companies are registering losses as they face severe competition and attract customers with low air fares. Airline companies together are expected to lose about Rs2,200 crore in 2006 for flying...

HOLCIM IN TRIBUNAL OVER SEBI FINE (of Rs25 crore for alleged violation of takeover regulations).
September 27, 2006... (From India Business Insight) Holcim (India) Pvt Ltd has approached the Securities Appellate Tribunal (SAT) challenging the Rs25-crore fine the Securities & Exchange Board of India (SEBI) has imposed for alleged violation of takeover...

FARM INTEREST SUBSIDY FOR ALL BANKS (inclusion of private and foreign banks in the scheme will create a level playing field).
September 27, 2006... (From India Business Insight) The Government of India is to extend the 2 percentage-point subsidy on farm loans of up to Rs3,00,000 to all scheduled commercial banks. The decision will also benefit private banks. The farm loans will...

INDIA INC'S CAPITAL EXPENDITURE TOPS Rs1 TRILLION (52% of the capital expenditure has been made on plant and machinery).
September 27, 2006... (From India Business Insight) The capital expenditure of Indian companies in the manufacturing and services sectors increased by 29 percent to Rs1,10,000 crore in 2005- 2006 from Rs84,685 crore in 2004-2005. About 52 percent of the...

ANPARA C PROJECT GOES TO CONGRESS MP'S FIRM (Lanco Kundapalli has secured the contract on the basis of the lowest bid).
September 27, 2006... (From India Business Insight) Lanco Kundapalli, promoted by L Rajagopal, a Congress MP from Vijayawada, has secured the contract for the 1,000-megawatt Anpara C thermal project in Uttar Pradesh. The company secured the contract on the...

ONLINE INFORMATION ON GRAIN STOCK SOON (for transparency in the public distribution system).
September 27, 2006... (From India Business Insight) The Ministry of Food, Government of India, is working on am integrated information system for food grains management. The system will help determine the exact quantity of food grains stocked in godowns at...

ESSAR GROUP LOSES RACE FOR EGYPTIAN BILLET FIRM (of Suez Steel, which is a 6,00,000 tonnes billet manufacturing company).
September 27, 2006... (From India Business Insight) The Essar group is out of the race for acquiring Suez Steel, a 6,00,000- tonne billet manufacturing company of Egypt. Misr National Steel of Egypt has acquired Suez Steel at $42.95 per share. The...

RETAIL SECTOR TO OFFER 2 MILLION JOBS IN 2 YEARS (the personnel requirement at the front-end will increase to 3.25 million by 2008-2009 from 1.25 million now).
September 27, 2006... (From India Business Insight) The retail sector in India will require an 2 million more professionals in the next 2 years. The personnel requirement at the front-end will increase from 1.25 million to 3.25 million by 2008-2009. The...