Stanchart on the prowl

Mumbai, April 29: Standard Chartered Bank is looking for appropriate acquisitions, including asset portfolio, to grow its business presence in India. “The bank looks at opportunity (for mergers and acquisitions) as they come since we want to be a long term lead player in the growing Indian market,” said A. Christopher Low, Stanchart Bank’s (India region) chief executive. The bank revisits options, whether to take a big step forward or go step by step, for expanding business in India, Low said.

Infotech jobs

New Delhi, April 29: Information technology workforce in India could grow to 2 million in 10 years, according to a report by Goldman Sachs. “Estimates point out that the supply of IT professionals will outstrip demand by 48,000 in 2008 suggesting that a healthy supply of IT workers will also curb wage inflation pressure,” the report said.

World Bank aid

New Delhi, April 29: The World Bank is ready to double its assistance to India to $3-4 billion this fiscal of which $2 billion could be for infrastructure development, said executive director C. M. Vasudev.

Bharti move

New Delhi, April 29: Bharti Tele-Ventures today migrated all its 15 existing cellular licences to Unified Access Service License with immediate effect.

M&M bonds

Mumbai, April 29: Mahindra & Mahindra (M&M) shareholders today approved the issuance of foreign currency convertible bonds of up to $100 million with a right to retain additional 15 per cent subscription.