Page 92 - Video Gallery

DHL rejigs India, S Asia biz

DHL rejigs biz in India, S Asia

DHL Express announced on Wednesday, February 21, the restructuring of its business in India and the South Asia region with the creation of a new region called South Asia Area.

The South Asia Area, with its headquarters in Mumbai, will cover India, Sri Lanka, Pakistan, Nepal, Maldives, Bangladesh and Bhutan.

Tata Tea rejigs NIPO biz

Tata Tea forms new firm for plantations

Tata Tea on Monday said it would offload 80% of its stake in its North India Plantation Operations to a group of investors and employees.

While Tata Tea will retain 20% stake in the new company, IL&FS and Infrastructure Finance Corporation (IFC), will also pick up 20% stake each in the company.

R K Krishna Kumar, vice-chairman, Tata Tea, said the company had permission to plant non-tea crops in 5% of the area in Assam, where the company had already entered floriculture, vegetable farming, spices and fisheries.

Pharma majors

Pharma majors take dose of R&D

Indian pharmaceutical companies continue to chase the new chemical entity (NCE) dream.

They have made a few breakthroughs in generics and novel drug delivery systems such as Ranbaxys once-a-day Ciprofloxacin. In the last two years, though, the top guns have devoted themselves to NCE development with encouraging results.

Apart from an anti-malaria molecule, Ranbaxy is developing two with GlaxoSmithKline and seven others on its own.

UTI MF launches gold fund

UTI MF launches gold exchange traded fund

UTI MuTual Fund today announced the launch of the UTI Gold Exchange Traded Fund from March 1, 2007. The new fund offer closes on March 12, 2007.

UTI Gold Exchange Traded Fund is an open-ended fund designed to track the performance and yield of gold.

UK Sinha, Chairman & Managing Director, UTI AMC, said: "UTI Gold Exchange Traded Fund offers investors a new secure way to access the gold market without taking physical delivery of gold. It is like having gold in your demat account."

Ruias plan MobileStores

Ruias plan $300mn telecom retail push

In a move that reaffirms Essar Groups interest in the telecom sector, the conglomerate is planning to invest around Rs 1,320 crore ($250-300 million) to set up a network of retail showrooms - MobileStores - across the country.

The group will set up around 4,000-5,000 mobile showrooms by 2010. The outlets would sell cellular handsets and services apart from other music and communication products like data cards, ipods and DTH and broadbrand connections.

Lanxess steps up India spread

Lanxess steps up India expansion

As part of its Asia strategy, Germany-based Lanxess chemicals group is to step up its activities in India considerably in its drive for profitable growth.

According to an official release issued by the company today, a significant investment in new projects is possible this year, in addition to the capacity expansion projects already under way.

"For us India is the most important growth market in Asia after China," Axel C. Heitmann, chairman, Lanxess, said in Mumbai today.

Redefining biz travel

Redefining biz travel, Kuoni style

Kuoni Travel Group, India today re-branded its business travel division BTI Sita to HRG Sita India.

David Radcliffe, CEO, Hogg Robinson Group Plc, said: "Our aim is to demonstrate real value to our clients' corporate travel expenditure. India is an important market for HRG, and by cementing our existing relationship with Kuoni Travel Group to form HRG Sita India, we are providing an additional valuable and stable service to our clients."

Samsung mobile tracker phones

Samsung launches mobile tracker phones

Samsung Telecommunications India today unveiled a new range of cell phones dubbed "mobile tracker phones".

The key highlights of the new mobiles are security features such as mobile tracking (MT), emergency SMS, and privacy lock, thus empowering consumers with enhanced security. All these help detect and control unauthorized usage of the mobile handset.

The three models in the range are SGH-C140 (priced at Rs 2579), SGH-X520 (priced at Rs 6149), and SGH-E250 (priced at Rs 8299).

Tata

Tata Steel buys Corus with 608p/share

Fourteen months after Corus chairman Jim Leng travelled to India to meet Ratan Tata and his team, Tata Steel today announced the acquisition of Corus by outbidding its Brazilian rival CSN for $12 billion.

Tata Steel's acquisition cost of 608 pence per share to acquire Corus, which is four times its size, will propel it to become the world's fifth largest steel firm from its existing ranking of 56.

The combined entity will have 23.5 million tonne of production and $24.4 billion of revenue with two-third of sales in Europe.

Baer to sell DVDs for Rs 34

Now, DVDs for Rs 34!

Moser Baer has announced its entry into the Rs 500 crore home entertainment industry offering VCDs at Rs 28 and DVDs for just Rs 34!.

"I believe that at these price points, we will redefine the home video market in India," Ratul Puri, executive director of Moser Baer, said.

Industry sources say Moser Baer already has around 5,000-5,500 catalogue licences under its belt (it expects to have all 7,000 by March 2007) and will start with Malayalam movie titles within two weeks.