The Telegraph
Since 1st March, 1999
Email This PagePrint This Page
Business Briefs

StanChart closes ANZ deal

New Delhi, Sept. 2: With the successful merger of ANZ Grindlays to its fold, Standard Chartered Bank’s total assets have touched Rs 29,000 crore, making it the largest foreign bank in the country. “The Indian operations of Grindlays have merged with the Standard Chartered Bank as on August 31. The bank is happy to announce that all aspects of this exercise have been successfully accomplished with the formal approval from the RBI,” StanChart’s CEO (Indian operations) Jaspal Bindra said.

Glaxo unit

Calcutta, Sept. 2: Glaxo SmithKline Consumer Healthcare Ltd informed the stock exchanges today that it had closed its small Horlicks packing unit in Calcutta. Partha S. Mukherjee, director (legal and corporate affairs) said: “We had to close the unit in Entally because it was economically unviable. We are in talks with the 41 workers who worked there for a final settlement on compensation. We have already paid them their statutory dues.”

Citibank CEO

Mumbai, Sept. 2: Citibank today announced a change in its management effective October 1, whereby Nanoo G Pamnani, currently CEO-India and regional head Sri Lanka, Bangladesh & Nepal will hand over reins to Sanjay Nayar.

Infosys centre

Bangalore, Sept. 2: Infosys Technologies Limited today announced setting up a global development centre at Melbourne in Australia.

Asian Paints

Mumbai, Sept. 2: Asian Paints Ltd today announced its foray into Bangladesh by launching a joint venture with Confidence Cement Ltd, a cement major in that country.

Ford plan

New Delhi, Sept. 2: Ford India has launched the ‘Ford Ikon 1.6 EXI’. It plans to launch a new vehicle every year to increase its product portfolio besides starting a quality certification exercise among its component suppliers as part of efforts to make India a sourcing base for Ford’s global subsidiaries.

Wipro move

Mumbai, Sept. 2: Wipro Ltd today said it had increased its holding in Spectramind e-Services Pvt Ltd to 92 per cent by acquiring two per cent stake of American Express Travel Related Companies Ltd in the company for Rs 17 crore by way of equity and warrants.

Email This PagePrint This Page