Bharti firms to merge
Mumbai, Dec. 9: As part of its restructuring initiative, Bharti today announced it will merge three companies — Bharti Telenet, Bharti Telesonic and Bharti Broadband Networks — into a single entity, Bharti Infotel Ltd in order to attain business synergies. The new company would be a 100 per cent subsidiary of Bharti Televentures, a company release said.
Mumbai, Dec. 9: Essar Shipping Ltd has fully redeemed its balance Rs 126 crore non-convertible debenture (NCD) issue, which had a coupon rate of 16 per cent.
Hyderabad, Dec. 9: The chairman of Satyam Computer Services, B. Ramalinga Raju, today stepped down from the board of Satyam Infoway following dilution of stakes by the infotech major in its subsidiary company.
New Delhi, Dec. 9: Vijay Kelkar, advisor to the finance ministry, has called for lowering corporate taxes and customs duty, but he warned that the government would suffer a revenue loss of Rs 30,000 crore.
New Delhi, Dec. 9: Idea Cellular has now 1 lakh subscribers on its network in Delhi after a month of its launch. The network on an average handles 1.2 million minutes of voice usages and over1.5 million SMS.
New Delhi, Dec. 9: Lufthansa will introduce three additional flights from Bangalore to Frankfurt and vice versa from January 15 to March 15, 2003.
Calcutta, Dec. 9: The Indian arm of Taiwan-based D-Link will launch the first VoIP or voice over internet protocol-enabled phones in January next year. The modem-based IP phone will be available with local language voice prompts.
Calcutta, Dec. 9: The second plant of BOC India in Jamshedpur would be built at a cost of Rs 30 crore having a capacity of 225 tonnes per day, managing director Sanjiv Lamba said.