JAN 1 2011 COMPANIES : The Economic Times Online - India's No.1 Business Newspaper

Tuesday
JAN 1 2011
0034 hrs IST
1404 EST
1904 hrs GMT

frontpage
companies
economy
social news
technology
politics
world
editorial
ecology

	Videocon to pick up 70% in Akai India, base at Salt Lake TELEVISION and audio major, Akai Electric of Japan, is returning to the Indian market through technical and financial collaboration with the Rs 3200-crore Videocon group.
	Numaligarh public issue plan on ice Numaligarh Refinery Ltd, the latest greenfield oil refinery project to go on stream, has deferred its Rs 354-crore maiden equity issue. This follows savings made in the project cost to the tune of about Rs 150-200 crore which has obviated the need to raise market funds immediately.
	IBP to source products from BPCL PUBLIC sector petroleum marketing company IBP Limited has decided to shift a major portion of its dependence for product sourcing from Indian Oil Corporation (IOC) to Bharat Petroleum Company Limited (BPCL).
	Cyber Compusoft bags Futurekids franchise for learning centres Cyber Compusoft Education Pvt Ltd, a newly-formed company has taken the sole franchisee right of US-based Futurekids Inc for the Mumbai region.
	Siemens bags Rs 5-cr order from Andhra for IT equipment THE Andhra Pradesh Technology Service (APTS), an organisation which undertakes consulting and procurment of IT infrastructure for the state government and its subsidiaries has placed an order worth Rs 5.4 crore on Siemensï¿½ private communications systems division.
	Leela shelves convention centre project in Bangalore HOTEL Leelaventure Ltd has shelved its plans to set up a Rs 300- crore convention centre at Whitefield, Bangalore. Senior Karnataka state government sources told The Economic Times that ``the project is definitely off.ï¿½ï¿½
	Ford India unveils Escort Sport-E petrol model FORD India Ltd (FIL), a subsidiary of the Ford Motor Co and manufacturers of the Escort in India, announced the launch of a new petrol model, Ford Escort Sport-E.
	Santro stretches to 30 km/litre SET in the tracks of relationship marketing, the Hyundai Santro Mile `Nï¿½ Smile Rally organised by Hyundai Motor India in Chennai on Sunday, evoked the participation of Hyundai Santro owners and their families.
	Lasik offers a breakthrough in eyecare LASIK is the latest buzzword in eye surgery to correct vision problems. And itï¿½s for the bold and the young. Lasik (Laser Assisted in ï¿½ Situ Keratomileusis) is a breakthrough in reaching the deeper layers of cornea and restructuring it in a manner which `grainsï¿½ down myopia (minus power) and hypermetropia (plus power).
	Wipro plans disaster recovery cells WIPRO Infotechï¿½s customer services division plans to set up disaster-recovery centres for its corporate customers. The first such centre will come up in Mumbai in the first quarter of the next financial year.
	Ritspin Synth plans local, overseas alliances ITï¿½S consolidation time for Ritspin Synthetics Ltd promoted by Narendra Kumar, a known name in the tea industry, and his son, Manish Kumar. This synthetic yarn manufacturing company, with its production unit based at Indore in Madhya Pradesh, has chalked out a comprehensive growth plan for the next two-three years.
	Ranbaxy Labs lines up BPH molecule licence deal RANBAXY Laboratories is likely to go in for a licensing deal for its original research molecule for the treatment of benign prostatic hypertrophy (BPH) only after completing Phase I clinical trials in the country, which could take up to a year.
	Philips India heads towards colour computer market PHILIPS India Ltd has entered the computer colour monitor business in India and targeted it as one of its focus areas in the future.
	Oracle still banks on India for sourcing ORACLE will continue to target India as one of its primary software sourcing centre outside the United States of America. This was stated by Derek Williams, senior vice-president, Asia Pacific region, Oracle Corporation Asia Pacific Division, in an exclusive interview with The Economic Times.
	M&M may swerve ad account into Interface AFTER about seven years with Enterprise Nexus, Mahindra & Mahindra (M&M) is moving its utility vehicle account to another ad agency in its search for a more innovative campaign.
	Trai, DoT split on direct exchange line expenditure THE Telecom Regulatory Authority of India (Trai) and the Department of Telecommunications (DoT) differ sharply in their estimates about the capital expenditure per direct exchange line (DEL).
	Consultantsï¿½ lingo stumps CEOs, says KPMG study If after spending crores to have your business strategy redesigned by stellar management consultants, you find yourself at the receiving end of loads of fancy jargon, donï¿½t despair. You are not the only one in a similar situation.
	Political rumble may push IDBI to defer steel meet THE much-awaited meeting of Industrial Development Bank of India (IDBI), to be held on March 18 to discuss financial aid for steel projects, is likely to be postponed with the issue having attained political overtones .
	Tube leak halts Dabhol trial run THE Enron-promoted Dabhol Po-wer Company (DPC) has shut down its plant, bringing trial runs to a halt. This follows a `condenser tubeï¿½ leakage in the plant. DPC has postponed the date for its `performance testï¿½, according to reliable sources. ``They are yet to come up with a tentative date,ï¿½ï¿½ an official said.
	Airbus to build military transport aircraft AIRBUS Industrie, the European civil aircraft manufacturer is now setting its sights on military transport aircraft. The consortium has just formed a new company, Airbus Military Company, to build and market military planes.
	Taj seeks new buyers for US hotels as old deal trips up A $153 mn deal for two of the Taj groupï¿½s US-based properties in New York and Chicago has fallen through. Negotiations have now begun afresh. Top Indian Hotels Company (IHC) officials told The Economic Times that negotiations with a fresh set of potential buyers were initiated after the earlier ones, Sabra Investments and the Leyland group, failed to meet a December 22, 1998 deadline to bring in the money.
	IDFC extends Rs 75-cr loan to Bharti Telenet for MP project IN A first major initiative of FI funding in basic telecom sector, Infrastructure Development Finance Corporation (IDFC) has extended a loan of Rs 75 crore to Bharti Telenet for its basic telecom project in Madhya Pradesh.
	Hollandï¿½s Van Leer eyes 51% in Paper Products The Netherlands-based Van Leer group, a global packaging major, is close to acquiring Paper Products Limited, one of the largest packaging companies in the country.
	Federal Bank scheme to finance foreign tours TO CASH in on the boom in outbound tours from the country the Alwaye-based Federal Bank has introduced a novel scheme to finance foreign tours.
	I-T corporate tax collection up 38% to Rs 8,060 cr The corporate tax collection in Mumbai till February 28, 1999 has risen by 38 per cent over the previous year. The corporate tax collection during the period is estimated at Rs 8,060 crore as against Rs 5,839 crore recorded during the corresponding period last year.