The Telegraph
Since 1st March, 1999
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Corporate Briefs

Peerless, Sarovar in pact

Peerless Inn, Calcutta has entered into a marketing and operation agreement with renowned Mumbai-based Sarovar Park Plaza Hotels and Resorts to improve its hospitality and is planning tie-ups with domestic airlines. “The new initiative is expected to increase operational efficiency, usher in qualitative improvement of guest services and spread the hotel’s brand equity in various parts of the country and beyond,” newly appointed general manager of Peerless Inn Sanjeev Shekhar said. He added Peerless Inn recently completed the first phase of over Rs 12-crore renovation and refurbishment programme for enhancing services and the new agreement would further boost prospects.

HCL Comnet

Infotech company HCL Comnet Ltd will conduct and implement end-to-end security audit for the Andhra Pradesh government’s IT infrastructure. A three-month audit will include assessment of security features for AP state-wide area network and secretariat knowledge information management system, a company release said.

SBI Life bonus

SBI Life Insurance Company Ltd has announced a reversionary bonus for scholar, Sanjeevan and young Sanjeevan schemes. For scholar policies, the bonus will be 4 per cent of the sum assured. This rate includes a bonus of 2.5 per cent guaranteed under the policy.

NIIT centre

NIIT and University of Indonesia’s faculty of engineering have signed a memorandum of understanding (MoU) to set up a high-tech computer education centre at the university’s campus.

Neoteris plan

IT company Neoteris has announced establishment of Neoteris Software India Ltd in Hyderabad to support various functional groups at the company’s headquarters in California.

Citicorp rating

Credit rating agency Icra has assigned a ‘conditional’ highest safety rating for the Rs 1,317.6 crore asset-backed securitisation programme of Citicorp Finance (India) Limited and Citibank N.A.

Bhusan CP

Fitch Ratings India has affirmed the F1 (Ind) rating to the Rs 10-crore commercial paper programme (CP) of Bhusan Limited. It has placed the long-term rating to the Rs 10-crore non-convertible debenture programme on rating watch with positive implications following the announcement of the merger of Bhusan Limited Steel with Bhusan Steel & Strips Limited.


Canada-based enterprise software solutions company Hummingbird is planning to expand its Indian operations by adding more people at the consultant level. “We will be adding three consultants to our Indian business in the next two to three months”, Elias Diamantopolous, Hummingbird’s vice-president and GM, Asia-Pacific, Canada and Latin America said.


Motorola has said leading operators such as BPL, Reliance and Hutchison in India have chosen its network support programme.

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