The Hindu Business Line : Friday, November 07, 2003

Vedanta of Sterlite group to be listed on London bourse — Plans to raise $700 m via public offer
THE Vedanta Resources, owned by the Agarwal Group of Sterlite Industries, on Thursday announced its plans to raise $700 million through an initial public offer and to list on the London Stock Exchange. The offer is to part finance the group's ... More

Koustuv Mitra is Electrolux Kelvinator Vice-President
ELECTROLUX Kelvinator Ltd (EKL), the Indian arm of Swedish white goods major, AB Electrolux, has appointed Mr Koustuv Mitra as Vice-President - Human Resources and Corporate Services. Mr Mitra succeeds Mr Shantanu Banerjee, who quit two months ... More

Indian Hotels chalks out refurbishment plan
INDIAN Hotels Company Ltd (IHCL), in a bid to cash in on the growth in the business hotel segment, has chalked out a three-year refurbishment plan for its leading business hotels. Declining to give financial details of the phased refurbishment ... More

Indo Rama hikes product prices
INDO Rama Synthetics has increased the basic price of 130/34 partially-oriented yarn (POY) from Rs 70 per kg to Rs 71.25. A statement issued by the company also said that the basic price of polyester staple fibre (PSF) has been increased to Rs ... More

AWARDS & HONOURS

SENSIBLE POLICIES MUST FOR EXPANSION: CLINTON

Venu Srinivasan, Rajesh Hukku receive Business Week awards
THE Former US President, Mr Bill Clinton, outlined the possibilities of business expansion through "sensible political policies" and a "radical shift" in pursuing energy options. Mr Clinton said this at the seventh annual CEO Forum, organised ... More

`CFO of the year' awards presented
MR Ravi Sud, Vice-President (Finance), Hero Honda Motors, has been chosen as `CFO of the year 2003' by IMA India and American Express. The other winners of the CFO Awards this year are Mr P.K. Ghose of Tata Chemicals, Mr B.R. Jaju, of Crompton ... More

COURTS/LEGAL ISSUES

Kerala HC notice to Govt on Cadbury issue
A Division Bench of the Kerala High Court on Thursday issued a notice to the State Government, State Health Service Director, and Cadbury India Pvt Ltd on a writ petition seeking a direction for banning all the products of Cadbury in the state in ... More

HUMAN RESOURCES

CEOs grapple with talent retention problems
TO what extent should family-owned businesses entrust company management to professional executives? How should companies deal with the issue of non-performing employees? These were among the HR-related issues that came up for discussion at the ... More

RESTRUCTURING

CESC debt recast delayed — Fresh borrowing planned to fund VRS
THE ongoing debt restructuring exercise in CESC, the flagship company of the RPG group, will take some more time contrary to earlier expectations of the exercise being completed by October. Indications are that the exercise will not be over ... More

MERGERS & ACQUISITIONS

ICI India transfers 51 pc stake to Australian co
NEW DELHI: ICI India on Thursday said that the company has received the consideration of Rs 66.64 crore and transferred its 51 per cent holding in Indian Explosives Ltd to Orica Investments Pty Ltd of Australia. ... More

TRADE & LABOUR UNIONS

19 burnt alive in Bengal tea estate dispute
NINETEEN people were burnt alive on Thursday morning at the Dalgaon Tea Estate in Jalpaiguri district following an altercation over appointment of personnel. All bodies, including those of the two women, were completely charred and their ... More

Pact in MUL to bring down wage hike rate
MARUTI Udyog Ltd (MUL) on Thursday entered into a new wage settlement with its employees that would bring down the rate of annual salary hikes by nearly two-thirds. Under the new pact signed with the employees' union as the country's largest ... More

CITU flays Central sops to SEZs
THE Centre should encourage efficiencies in industries rather than cut into employee benefits to increase competitiveness, according to Mr A. Soundarajan, General Secretary, Tamil Nadu State Committee, CITU. He was responding to reports of the ... More

ALLIANCES & JOINT VENTURES

Reliance in pact to restart BRPL unit
RELIANCE Industries Ltd on Thursday entered an agreement to restart Bongaigaon Refinery and Petrochemicals Ltd's polyester staple fibre unit. According to strategic alliance signed here today, Reliance will operate BRPL's 34,200-tonne PSF ... More

ARINC ties up with Bird Consultancy
ARINC, the US-based leader in transportation communications and systems engineering, has tied up with Bird Consultancy Services (BCS) to establish its presence in India. BCS, in collaboration with ARINC, will provide services and products to ... More

MTV forms alliance with Music World
MUSIC retail chain Music World and music channel MTV Networks India have formed a partnership under which Music World will be the preferred partner for MTV's consumer interactive promotion activities. This would include MTV VJs visiting Music ... More

OUTLOOK

Samsung bullish about India operations
SAMSUNG India Electronics Ltd (SIEL) the Indian arm of the Korean electronics major Samsung Electronics Co Ltd is expecting to almost double its revenue share in the global kitty. In a bid to strengthen its base in the domestic market, SIEL is ... More

PERFORMANCE

Tata Motors sales up 39% in October
TATA Motors today reported a 39 per cent rise in total vehicle sales, including export, to 26,862 units in October 2003, as against the previous corresponding 19,306 units. Sales for the April-October period grew by 43.6 per cent to 1,65,384 ... More

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