Oracle bullish on India

New Delhi, March 14: Terming India as one of its high-growth markets, software major Oracle today said it would expand operations at its two development centres in Bangalore and Hyderabad in 2005. Oracle has hired 200 people in the last three months taking its total manpower in the country to 6,900. It is planing to acquire land in Bungler to build a new centre. The company would also inaugurate a new building in Hyderabad by the middle of this calendar year, said Keith Budge, senior vice-president for the Asia-Pacific region.

ING Vysya

New Delhi, March 14: ING Vysya Bank will launch a rights issue at Rs 45 from March 15 to April 13 to raise the capital by Rs 307 crore. The bank will issue 6.82 crore fresh shares to existing shareholders in the ratio of 3:1, it informed the Bombay Stock Exchange today.

New airport

New Delhi, March 14: The Union cabinet, at its meeting today, decided to name the new airport coming up near Hyderabad as Rajiv Gandhi International Airport. The meeting was chaired by Prime Minister Manmohan Singh.

IA fleet

New Delhi, March 14: The government has allocated Rs 325 crore as budgetary support to Indian Airlines' fleet acquisition programme. The airline is in final stages of negotiation for 43 aircraft.

Opec output

Isfahan, Iran, March 14: Saudi Arabia today said Opec should lift supplies by 2 per cent or 500,000 barrels per day (BPD) to 27.5 million BPD that could help ease the rising crude prices.

MTNL view

New Delhi, March 14: Ahead of a crucial meeting of the department of telecom with the two telecom PSUs regarding synergising their operations, MTNL today said making it a subsidiary of BSNL will not yield the desired result behind the proposed move.

Bhel target

New Delhi, March 14: Power equipment supplier Bharat Heavy Electricals Ltd (Bhel) is looking at servicing and spares as a lucrative business option to improve its bottomline, said A. K. Puri, chairman and managing director.