The Hindu Business Line : Tuesday, December 23, 2003

`Proactive step against delinquencies' — Union Bank hikes housing loan rates by half point
UNION Bank of India on Monday announced a 50 basis points increase in its housing loans of all maturities. The announcement assumes significance as it comes close on the heels of the RBI officials warning banks against `cutting corners in ... More

`Air India needs to rework its corporate vision'
AIR India needs to reformulate its corporate vision to suit the current economic context, according to Mr V. Thulasidas, who took over as Chairman and Managing Director of Air India on Monday. He said the context is important given that the ... More

Maruti reduces workforce by 27% through VRS
MARUTI Udyog Ltd today said it cut its workforce by 27 per cent through a voluntary retirement scheme as part of efforts to control costs and improve profitability. In a statement here, it said that 1,251 employees opted for the VRS, the second ... More

HCL Tech sells stake in jt venture to Perot Systems
HCL Technologies on Monday said it had sold its stake in joint venture HCL Perot Systems (HPS) to its partner, US-based Perot Systems, for $105.3 million in an all-cash deal. Perot Systems will now own about 90 per cent stake in HPS, with the ... More

HPCL announces 60 per cent interim dividend
THE Union Government will get about Rs 103 crore from Hindustan Petroleum Corporation Ltd as interim dividend. The company is the first oil PSU to announce the amount of interim dividend. HPCL on Monday informed BSE that the board of directors ... More

Tempest to head Ranbaxy as Brar bids to step down
HOMEGROWN pharmaceutical major Ranbaxy Laboratories Ltd has crossed a milestone, albeit of a different sort, as the company announced a change of guard at the top. On Monday, it announced the appointment of Dr Brian W. Tempest as Joint Managing ... More