Patents statute in force

New Delhi, April 5: The new patents law, which was passed by Parliament in March, came into force today with President A. P. J. Abdul Kalam giving his assent. ?President Kalam today signed the Patents (amendment) Bill. With this, the law comes into force,? commerce and industry minister Kamal Nath told reporters. The new law provides for product patents in pharma and agri-products, which were not allowed earlier.

Pepsi JV

Bangalore, April 5: Pepsi and Hindustan Lever have formed a 50:50 joint venture to launch ice tea, a segment that is expected to constitute 5-10 per cent of the Rs 6,000-crore carbonated soft drinks market. The duo launched Lipton Ice Tea through the alliance.

Trai offer

Mumbai, April 5: The Telecom Regulatory Authority of India (Trai) is planning to slash the domestic leased line rates. The proposal will be introduced in a week?s time, said Trai chairman Pradip Baijal.

Mirc move

Mumbai, April 5: Mirc Electronics will merge group company Onida Savak Ltd with itself under a swap ratio of one equity of Re 1 each of Mirc for every 10 shares of Rs 10 each of Onida Savak.

NPIL hire

New Delhi, April 5: Nicholas Piramal India Ltd (NPIL) today said it would hire 400 scientists in the next five years and double its budget for research and development this year.