LICHF sets up shop in Dubai

LIC Housing Finance will open a representative office in Dubai to tap the non-resident Indian client-base in the Persian Gulf region. The company would offer a maximum loan of Rs 1 crore for a period up to 10 years. The rate of interest would be 9.25 per cent for a period of six years and 9.75 per cent for 10 years, a company release said. The local partner in the venture will be Raise Hassan Saadi LLC. Earlier, the company had tapped the market potential through LIC (International), Baharain.

Coca-Cola pact

Coca-Cola India and DLF group have announced a business alliance under which Coke products will be offered to consumers at all the four proposed DLF multiplexes in Delhi and Gurgaon from next year. The agreement is valid for five years. The two partners will work together for a similar arrangement in future properties that the DLF group develops.

Air Alliance

The air connectivity in the North Eastern region is set to improve substantially with the proposal of inducting four ATR-42-320 aircraft into the fleet of Air Alliance.

LG Electronics

LG Electronics India has unveiled a range of indigenously produced direct cool refrigerators, which it hopes would double its share in the domestic refrigerator market to 28 per cent next year by offering competitive prices in a price-sensitive market.

Wipro Tech

Wipro Technologies and Magnasoft have entered into a strategic alliance to provide their customers in the transportation sector Wipro’s enterprises applications and system integration services and Magnasoft’s fleet management solutions.

Insurance meet

General insurance major Royal Sundaram’s risk management seminar on December 20 was attended by leading corporate houses of Calcutta including BOC India, Coates, Goodricke and the Simplex group. The seminar, the first of its kind in the city, was a vehicle for disseminating information on the company. It also facilitated interaction with consumers, which provides an insight into their needs.

ICICI Bank

Icra has assigned highest safety MAAA (Structured Obligation) rating to ICICI Bank’s Rs 142.28 crore securitised assets, a release said.

WeP service

WeP Peripherals Limited has launched the Print and Save service. Under this scheme, corporate and SMEs can use WeP laser printers without buying the product. Corporate, who have a print load of 30 pages and more per day, can opt for this service depending on their requirements.

Samtel rating

Fitch Ratings India has affirmed the A(Ind) rating to the Rs 30-crore non-convertible debenture programme and F1(Ind) rating to the Rs 30-crore commercial paper programme of Samtel Color Limited, a release said.