Navision in merger talks

Navision Software India, a Microsoft business solutions distributor, has begun talks with Microsoft India for merger of their India operations, but declined to give any timeframe for it. “We have started discussions for the integration but cannot give any timeframe,” managing director Yash Nagpal said. The move is expected to take some time before the two entities agree on various issues relating to the process, he said.

Nucleus Soft

Nucleus Software will hire 300 software professionals for its new facility at Noida and invest up to Rs 10 crore in banking product development and marketing initiatives in the current fiscal. The company has invested Rs 25 crore in its newly constructed five-acre facility at Noida.

Xansa move

Xansa, international BPO and IT services company, plans to double its headcount to 4000 by April 2005 and after two years, it will be the only global company to have more people in India than the host country. Xansa plans to expand its services by employing more people and investing in infrastructure facilities.

Eicher pact

Eicher Tractors has entered into an agreement with Dena Bank for retail financing of tractors to farmers. Dena bank would finance Eicher tractors with a lower margin of 5 per cent for loans up to Rs 2 lakh and 10 per cent for those over Rs 2 lakh, an Eicher release said. The land-holding requirement for the tractor loans has been reduced to four acres of irrigated land from eight acres earlier.

Rabo India

Rabo India Finance Pvt Ltd has provided a term-loan refinance facility of Rs 450 crore to Escotel Mobile Communications Ltd (EMCL), which is being acquired by Idea Cellular Ltd. A condition for transfer of shares to Idea was the release of corporate guarantees provided by the original sponsors of EMCL as security for the company’s borrowings, a Rabo release said.

Bengal Shristi

Bengal Shristi Infrastructure Development Limited has mandated SembCorp Infrastructure, a leading architect and structural consultant of Singapore, for their integrated township at Asansol in Bengal, spread over approximately 100 acres. The project cost of the township is around Rs 350 crore.

Malaysia tour

Tourism Malaysia, the nodal agency to promote tourism to Malaysia, has launched a joint package in association with the Hong Kong Tourism Board and Malaysia Airlines. The package on Malaysian Airlines at Rs 29,990 for six days includes three nights in Kuala Lumpur and two nights in Hong Kong. The scheme is available till September 15.

ICI Dulux

ICI Paints has introduced Supergloss 5-in-1, an enamel paint, which gives a super-glossy and a longer lasting finish to wood and metal surfaces. The new enamel is available in more than 300 shades.