Multiplex chain Cinemax India, promoted by Mumbai-based real estate developer
Kanakia Group, will be investing Rs 250 crore to put up 178 additional screens across
the country by 2012.
Hindustan Latex Ltd (HLL), in partnership with Ayurvedic Institution of Kerala
(Kottakkal Arya Vaidya Sala), will be introducing a range of healthcare products.
Monika Halan, the editor of Outlook Money, has resigned citing interference from the
management of the Outlook Group in editorial matters.
Nirmal Kotecha, co-promoter of Pyramid Symira, a Chennai-based entertainment
company, has sold his entire stake in the company. Managing director P S Saminathan is
the other promoter.
Steve Jobs said he would take a leave of absence from Apple until the end of June
because his medical condition, a hormone imbalance, is "more complex" than he had
thought. The day-to-day management of Apple will pass to its chief operating officer,
Tim Cook, who filled in for Jobs in 2004 when he received cancer treatment.
Yahoo! named Carol Bartz as its new chief executive. Bartz used to head Autodesk, a
software company and comes to Yahoo! after a turbulent year for the internet company,
during which it resisted a takeover bid from Microsoft and Jerry Yang resigned as chief
Former German Chancellor Gerhard Schroeder is to join the board of Russo-British oil
giant TNK-BP. BP and its Russian billionaire partners in TNK-BP spent much of 2008 in
battle for control of the firm. He will be one of three independent directors appointed to
try to prevent further problems amongst the board.
India's largest mobile operator Airtel has announced a partnership with local search
engine Asklaila.com. With this free service, 21-million Airtel subscribers in six cities
will be able to search via mobile, DTH or internet (on Airtellive.com) across 400 different
Preetham Parigi, Times Infotainment Media managing director & CEO, has been
named the 2009 William F Glaser Rensselaer Entrepreneur of the Year.
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Dabur India has announced the acquisition of 72.15% of women's skin-care company
Fem Care Pharma (FCPL) for Rs 203.7 crore in an all-cash deal.
Fem Care Pharma has a strong presence in the fairness bleach and hair removal
categories. It has a liquid soap under the brand name Fem.
Other brands in Fem Care Pharma portfolio include Oxybleach cream, Botanica antiageing
cream, Stratum colour protecting hair conditioners, Saka's men's bleach and
Bambi fabric softeners.
Indian entrepreneur Lord Karan Bilimoria has put Cobra, the beer company he founded
18 years ago, up for sale for an estimated 200 million pounds. Although Cobra is yet to
make a profit, it remains one of the UK's fastest growing beer brands in a market that is
in overall decline.
BK Modi's Spice Televentures Company Hotspot has unveiled the Launchmovie card,
which would enable mobile phone users to watch latest Bollywood movies on 320x240
Cox and Kings India (CKI) has acquired Tempo Holidays, a specialist leisure travel
company based in Australia.
Tempo Holidays was founded in 1990 by Susan and Gary Hearst in 1990 as Yalla
Holidays. It was rebranded in 2001 as Tempo Holidays, and currently offers travel
arrangements in over 42 countries.
Suzuki Motor Company (SMC) has bought out its local partner Satya Sheel Khosla and
family in the two-wheeler joint venture firm Suzuki Motocycle India (SMIPL) that
currently sells motorcycle models Heat, Zeus, GSI150R, Hayabusa and Intruder
besides a 125cc scooter Access.
Suzuki had severed a decade long ties with Chennai-based TVS Motor Company in
1999-2000. The Japanese company re-entered the Indian two-wheeler market in 2006
after the 5 year non-compete clause expired by forming a new joint venture company
SMIPL with Satya Sheel Khosla, who was also appointed the managing director of the
Suzuki already has a controlling stake of 54.2% in the largest passenger car company in
India, Maruti Suzuki India.
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Insurance multinational MetLife has won a trademark case against Mankind Pharma,
preventing the drug company from selling its diabetic drugs branded as 'Metlife' in India.
The Delhi High Court (HC) has given an interim injunction to prevent Mankind Pharma
from using the word Metlife or similar deceptive word to sell its medicines.
Denimwear giant Levi Strauss is rolling back its semi-formalwear brand Dockers, which
pioneered the concept of khakis back in 1980s, from India. The brand was relaunched in
2005 as Dockers San Francisco.
Kishore Biyani promoted Future Group is set to buy out Le Marche, the hypermarket
business of Fu-Com Retail India that was set up by Fu-Com International, UAE-based
retailing partners of the $30-billion French retail group Groupe Casino.
Dabur India has roped in Disney's Winnie the Pooh to feature on its Dabur Honey's
'eazee squeezee' pack.
Reckitt Benckiser, maker of Dettol and Harpic, has stated an exercise to re-label all its
products with a 'green panel'—informing consumers on optimal usage and how to best
dispose of products. The move is in line with the company's 'Carbon 20 programme'—
an internal guideline aimed at reducing total carbon footprint of Reckitt products by 20%
by the year 2020.
The Rs 140-crore real estate company JMD Group has forayed into the hotel business in
India by roping in the US-based hospitality group Hilton Hotels' Doubletree brand of
Automobile maker Mahindra & Mahindra (M&M) has launched its multi-utility vehicle
Starwood Hotels & Resorts Worldwide has unveiled plans to launch a chain of ecofriendly
hotels. The first green hotel–called Element–will open in Lexington,
Hyundai Genesis won the 'North American Car of the Year' award recently. Ford F-
150 was the 'North American Truck of the Year'.
Infant toy maker, the Baby Einstein line of products, part of the Walt Disney
Company, entered the Indian market recently. The Baby Einstein Company was
originally founded by Julie Aigner-Clark in 1997 and the first Baby Einstein video title
was Baby Einstein Language Nursery.
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Tata Consultancy Services has got a "significant" portion of World Bank contracts
that were previously serviced by Satyam Computer Services.
World Bank had barred Satyam Computer Services as a vendor for eight years from
Sept 2008, citing the reason for the ban as "providing improper benefits to Bank staff and
failing to maintain documentation to support fees charged for its sub-contractors."
World Bank has barred Wipro for "providing improper benefits to Bank staff", and
Megasoft's subsidiary Megasoft Consultants for "participating in a joint venture with
the Bank staff while also conducting business with the Bank." The ban on Wipro and
Megasoft are for four years each, effective from Jun 2007, and Dec 2007, respectively.
The Foreign Investment Promotion Board (FIPB) has cleared the proposal of US-based
Dow Jones to start facsimile edition of its newspaper The Wall Street Journal (WSJ) in
Japan's Asahi Breweries has agreed to buy Cadbury Plc's Australian beverages unit for
$808 million, adding Schweppes, Cottee's Cordial and Spring Valley to its portfolio of
The Managing Director of Tata Steel, B. Muthuraman, was conferred the Jamsetji Tata
Award for the year 2008.
MAN of Germany will buy a 14.2% stake from its joint venture partner, Force Motors
Ltd of Pune, for €49 million, taking its stake in the joint venture MAN Force Trucks Pvt
Ltd to 50%.
Liquor maker United Spirits is adding more brands to its vodka portfolio. Its new
launches include Romanov Red in the premium category and the recently acquired
Pinky Vodka, a super premium category brand, which it bought from the US-based
Swiss luxury watch maker Tag Heuer, part of the Louis Vuitton Moet Hennessy group, is
now going to offer premium hi-tech handsets in India. Tag Heuer handset 'Meridiist' will
be priced at Rs 2.7 lakh and will compete with other upmarket brands such as Nokia's
Zee News has tied up with Voice of America under which the former will air a fiveminute
daily segment named America LIVE, which will be a part of the 8 a.m. news
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ICFAI National College (INC) has set up Adam Smith Institute of Management
(ASIM) to provide academic support and placement assistance to students interested in
pursuing MBA programme of the ICFAI University, Tripura.
Mumbai's Nariman Point has dropped to fifth place while London's West End and
Moscow remain the world's two most expensive office markets, according to CB
Richard Ellis Group Inc market view/office occupancy cost survey. Hong Kong's CBD
(central business district) and Tokyo's Inner Central District round off the top five.
Two financial initiatives of the Karnataka based non-governmental organisation Shri
Kshethra Dharmasthala Rural Development Project (SKDRDP) – 'Pragathibandhu'
and 'Sampoorna Suraksha' – have won the 'Changemakers' award in the competition
'Banking on social change – seeking financial solutions for all'. The award is promoted
jointly by the US-based Ashoka Foundation and Citibank.
Aujan Industries, a privately-owned independent soft drink and confectionery
manufacturer in West Asia, has launched a juice drink Rani in India.
Indian companies will now have one year's time to launch their IPOs or rights issues.
The stock markets regulator SEBI has decided to extend the validity of its approval for
IPOs and rights issues from three months currently, to one year after their draft
prospectus has been cleared. In the past, many companies had to again file their draft
red herring prospectus if they failed to launch the IPO or rights issue within three months
getting SEBI's approval.
Reliance Retail, a subsidiary of Reliance Industries, has announced its foray into the
home furnishing format 'Reliance Living Furnishings' that will offer products under the
labels Home One, My Home and My Home Premium.
Yes Bank has been recognized as the 'Most Innovative Bank in India' at the New
Economy First Annual Banking and Finance Awards 2008 held in London.
The recently formed 50:50 joint venture between Reliance Retail and Pearle Europe has
announced the launch of its optical specialty format under the brand Vision Express.
Dabur's Amit Burman promoted Lite Bite Foods is looking to set up food courts on
highways, under its high street food court brand Food Union Clix!
BSA Motors launched five models of BSA eScooters–Smile, Diva, Street Rider,
Roamer and Roamer+.
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The Adani Group has announced the launch of Adani Institute of Infrastructure
Management (AIIM) with a one-year, full-time, residential course aimed at providing
Sterlite Industries (I) Ltd (SIIL) has bagged the Corporate Super Platinum Award at
the India Manufacturing Excellence Awards 2008.
Bharti Retail Ltd, a wholly owned subsidiary of Bharti Enterprises, has launched its first
Easyday market TM in New Delhi.
Volvo Buses India has launched its special edition Signature series, the market's first
coach with a multi-axle configuration. The launch coincides with the Volvo Ocean Race
Volvo Car India has introduced its Volvo XC90 Ocean Race Edition in Ocean Blue
Colour to commemorate the Volvo Ocean Race 2008-09.
The Biotech Person of the Year award was conferred on Prof. Samir K. Brahmachari,
Director-General of Council for Scientific & Industrial Research. Anuradha Acharya,
CEO, Ocimum Biosolutions has been named the Entrepreneur of the Year.
Finland national carrier Finnair has launched its vision of the aviation industry for the
next 85 years and launched a book – Departure 2093. The book suggests trends of future
aviation industry and was launched jointly with the CII.
The World Bank Group has cleared India Country Strategy 2009-12 that envisages
lending program of $14 billion for the next three years. Of the $14-billion assistance,
about $9.6 billion will come from the International Bank for Reconstruction and
Development (IBRD) and $4.4 billion will come from the International Development
Google.org – the philanthropic arm of Google – has launched the Gram Panchayat
Puraskar to reward the best innovations in local governance by Gram Panchayats in
Karnataka and Andhra Pradesh. The innovation needs to be in the context of one of the
following six areas – education, health and nutrition, water supply, rural infrastructure,
rural electrification, resource mobilisation.
Taj Hotels Resorts & Palaces has announced the opening of its new premium hotel
Vivanta in Bangalore.
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Taj Krishna, a luxury hotel in Hyderabad, has obtained 'Green Globe Benchmarked
Status' under the globally recognised Benchmarking programme.
Actress Asin, who made her Bollywood debut in the film Ghajini, has been signed up by
Tata Sky to endorse its Direct-to-Home services.
Nilgiris orthodox tea has now become a legally protected product after it was registered
under Geographical Indications (Registration and Protection) Act, 1999 recently.
Maruti Suzuki India has launched Green Cabs for urban motoring on the Maruti 800
AC Duo powered by LPG.
Tata Steel has been felicitated with CII-ITC Sustainability Award 2008 among large
Wipro Ltd has developed a carbon accounting tool called Hara (green in Hindi) that
helps companies measure, manage, monitor and monetise their carbon dioxide emissions
from global operations. Eco Eye is Wipro's corporate wide green initiative.
Ratan Tata was awarded the Sheth Medal for Exceptional Leadership named after
author Dr Jagdish Sheth for his 'enduring and transformational contribution to business'
in Mumbai recently.
The Formula One car of Ferrari driven by Felippe Massa and Kimi Raikkonen will
for the first time feature the logo of an Indian corporate–the Tatas. The other big
sponsors for Ferrari include Shell, Italian electronics major Alice, Acer, AMD and
A world-wide economic crisis and soaring costs has forced Honda to withdraw from the
Formula 1 championship. Teams such as Ferrari and McLaren Mercedes reportedly
spend $200 million annually to spruce up technological for their advanced racing cars.
NIIT Ltd, in partnership with Fourier Systems, has announced the launch of 'NIIT
eGuru Smart Science Station', which enables a range of technology-aided science
experiments covering topics such as heat, electricity, sound and measurement of pollution
of air and water.
Subhash Chandra-owned Essel Group will establish 300 schools across under the brand
Zee School through its education vertical Zee Learn. The group also owns pre-school
chain KidZee. Zee School has developed a proprietary education model – Litera Octave.
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