Swedish car maker Volvo Car Corporation expects to sell 10,000 cars in India by the year 2010 and also plans to introduce S40 – a small sedan in the domestic market in 2009. “There is a possibility that we will be able to sell 10,000 units of our cars in the Indian market in view […]
Taipei electronics show in Chennai
A three-day Taipei international electronics show, `TAITRONICS India 2007′, showcasing the latest trends in various industries and to increase bilateral trade co-operation, will be inaugurated here on September 14. Walter Yeh, executive vice president of Taiwan External Trade Development Council (TAITRA) told reporters here that Taipei World Trade Centre and Taiwan Electrical and Electronic Manufacturers’ […]
Chennai Co Plans Rs 250-Cr Facility
US-based venture capital fund ePlanet is in advanced talks to invest $12 million in Chennai-based medical technology company Trivitron, sources said. ePlanet will pick up a strategic minority stake in the Rs 150-crore company that straddles the entire technology spectrum of medical devices. Sources said the deal could go through by this month-end or early […]
BSNL mobile users pay for software chinks
CellOne subscribers in Chennai Circle shell out local charges every time they dial 197 Some mobile calls land on the enquiry grid without jumpstarting the meter Officials suspect the problem may be embedded in the server hubs in Tiruchi and Coimbatore Apparent chinks in the billing software of the widely used ‘197’ directory enquiry service […]
Lakhs of fake currency found in banks
The Reserve Bank of India (RBI) has filed FIRs against the managers of six prominent banks here after seizing fake currency worth Rs 3,67,190 from them, official sources today said. In the last five days, counterfeit currencies were recovered from State Bank of India, Gwal Toli branch (Rs 18,900), Union Bank of India, Sarvodaya Nagar […]
New food markets open to Florida growers
Florida Agriculture Commissioner Charles H. Bronson has released a new report to help Florida agricultural producers export their products to India. Bronson is taking steps to improve the worldwide market share of Florida farmers. Agriculture ranks second to tourism as one of Florida’s top industries. The 60-page report, titled “India: Road to Success,” presents data […]
Bank loan growth hits lean patch
Corporate borrowing patterns continue to be source of worry Till mid-Aug,top corporates had favoured ECBs Industry seeks lower project finance rates Many corporates redeeming bulk deposits Bank loan growth is slowing down. The figure for the fiscal so far is Rs 9,132 crore against Rs 66,950 crore during the corresponding previous period, according to the […]
Malabar Gold to pump in Rs 500 cr on expansion plans
Malabar Gold will invest Rs 500 crore in the next two years for opening new showrooms in India and abroad, an official said on Monday. The Malabar Crystals and Diamonds, the jewellery wing of Malabar Group of Companies, will be opening showrooms in Kuwait, Bahrain and Muscat in the Gulf, and Northern states of India, […]
Govt plans to ease FII reporting norms
The Government is planning to write in a trigger mechanism that will free foreign Institutional investors (FIIs) from hassles if their investments breach any sector-specific foreign direct investment (FDI) cap by less than 1 per cent. This means that FIIs will have to report to the RBI any violation of sectoral caps only when their […]
Federal-Mogul plans new plant in Chennai
US Component maker Federal-Mogul Corporation, which has filed for Chapter 11 bankruptcy that allows a sick company to reorganise, is looking at setting up a greenfield facility in Chennai for manufacturing friction seals for brakes and clutches. Federal-Mogul Corporation (FMC) and two of its subsidiaries  Federal-Mogul Luxembourg and Federal-Mogul Holdings  are waiting for […]
We want to take advantage of the current opportunity to enter telecom
STRAIGHT TALK – Pradeep Jain, Chairman, Parsvnath Developers Government is willing to give new licences and release new spectrum, phone penetration level is still low, and rural market remains largely untapped With projects in 48 cities, Parsvnath Developers Ltd (PDL) is on its way to becoming a pan-Indian real estate developer. In recent weeks, the […]
Airline catering major to make India a major hub
The world’s largest airline catering and in-flight solutions provider LSG Sky Chefs has decided to make India its major hub and is planning to open four new facilities in the country next year. “To meet growing demands of India’s booming aviation sector, we are planning new facilities at Hyderabad, Bangalore, Chennai and Kolkata,” Chief Operating […]
