IBM to invest $6 b
US technology giant IBM has said it will invest $6 billion in India by 2009. “We have invested $2 billion (in the past three years).
Siemens-BHEL bags PowerGrid order
Siemens Power Transmission and Distribution (PTD) and its consortium partner BHEL have been awarded an order by the Power Grid Corporation of India to construct 2,500 MW High Voltage Direct Current (HVDC) terminal stations.
Areva sweetens bid for REpower
Indian wind power firm Suzlon Energy's bid to acquire REpower suffered a setback with the German company's largest shareholder, Areva SA, making a counter bid of 1.14 billion Euro.
FACT JV with Adi Group of Syria
The Union Ministry of Chemicals and Fertilisers will form a consortium of Indian companies including FACT for taking 50 % equity in the proposed Rs 3000 crore joint venture urea plant in Egypt with Syria-based Adi Group.
SAIL proposes JV to ensure long term security of inputs
To ensure long-term security of critical raw materials, the Steel Authority of India Ltd (SAIL), which has undertaken a Rs 40,000 crore capacity expansion plan.
M&M plans to buy an auto component firm
Close on the heels of picking up a 43.3% stake in Punjab Tractors Ltd, Mahindra & Mahindra (M&M) is now on a look-out for acquiring an auto component company.
India leads in salary hike: survey
India has demonstrated a double digit growth in salary hike for the fourth year running, the highest in Asia Pacific region.
UTI Bank aims pan-Asian branch presence
UTI Bank hopes to grow its loan book at over 30% in the next financial year and is opening branches in Dubai and Hong Kong, is planning to set up shop in other Asian countries to make UTI a pan-Asian bank.
NTPC wants to make power equipment, plans subsidiary
The National Thermal Power Corporation (NTPC) is keen to venture into power equipment/spares manufacturing and servicing power equipment.
Biocon arm to set up research facility for Bristol Myers
Biocon's subsidiary Syngene International P Ltd and the US major Bristol-Myers Squibb Co have said they are significantly scaling up their nine-year-old research tie-up.
Infrastructure industries output up 8.4% in April-Jan
The output of six core infrastructure industries grew 8.4 per cent in April-January this fiscal against 5.8 per cent in the same period previous year.