Economy and policy
1. Bajaj Auto refuses to budge on Akurdi
Refusing to buckle under political pressure, Pune-based two-wheeler maker Bajaj Auto is steadfast in itsdecision to close down Akurdi plant.
2. Sugar mills for ethanol in diesel
The issue of allowing the private sector to participate in nuclear power generation independently of the government has been put on the backburner with the Centre withdrawing a minor amendment to the Atomic Energy Act, 1962, from the Cabinet at the last moment.
1. Brands Kenz and Marc Jacobs will soon hit the shelves. Louis Vuitton Moët Hennessy (LVMH), a luxury goods giant, is expected to roll out half a dozen luxury brands in India to keep up with an increasing demand from elite consumers in the country.
Banking and Finance
1. Five PEs line up for 15% in LIC credit card arm
Global private equity investors Blackstone, JC Flower and Fortress of the US, Temasek of Singapore and 3i of the UK are in talks with the Life Insurance Corporation of India (LIC) for buying a combined 15 per cent stake in the life insurer’s proposed credit card venture with US-based GE Money.
2. IBA bats for intermediate holding firms
Indian Banks’ Association (IBA) has decided to back ICICI Bank and State Bank of India’s (SBI) proposals to float an intermediate holding company for owning their insurance and asset management businesses, as an interim arrangement.
3. LIC jv with GE
Life Insurance Corporation of India (LIC), the country's largest financial services firm, has finalised GE Money India, a subsidiary of the US-based financial services to electronics conglomerate, , as one of the partners in its proposed credit card venture.
4. Securitised issues touch $5.5 billion
International rating agency, Moody’s Investors Service, said that contrary to the slowdown seen in 2006, securitisation issuances in the Indian market rose 90 per cent to $5.5 billion between January and June 2007 from $2.9 billion over the same period a year earlier.
In the first half of 2007, number of deals were 75 per cent of the total deals done on 2006.
1. Tata BlueScope Steel to invest Rs 880 crore in Jamshedpur Tata BlueScope Steel, a joint venture between Tata Steel and Australia-based BlueScope Steel, will invest Rs 880 crore in setting up a metal coating facility in Jamshedpur.
2. ESSAR- 38 rs floor price for delisting
The Ruias-promoted Essar group today said it plans to delist Essar Steel from the bourses and fixed a floor price of Rs 38 apiece for buying the stake from public shareholders
3. Ranbaxy to hive off R&D
Ranbaxy Laboratories, India’s largest drug maker by sales, may soon hive off its research and development activity into a separate company and raise resources by selling some equity in the new entity. This strategy is being increasingly favoured by Indian pharmaceutical companies as a tool not only to raise resources but also to reduce risk, much of which stalks the high-reward area of research and development.
This week's quiz
1. Which book was originally entitled “Four Years of Struggle against Lies, Stupidity, and Cowardice
2. Whats an Ipad?
3.In Vista, if Windows Mail is to replace Outlook Express, what is going to replace NetMeeting?
4. Bob Young and Marc Ewing are considered the founders of... ?
5. Which is the longest running mascot in indian ad industry ?