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Since 1st March, 1999
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Business Briefs

Adobe to invest $ 50 m

New Delhi, Oct. 8: US-based Adobe Inc today said it would invest up to $ 50 million in India over the next five years, including investment in expanding infrastructure and R&D activities. Shantanu Narayan, executive vice-president, worldwide (products), today inaugurated its new facility in Noida, which has been built on an investment of over $ 10 million. The facility has a capacity to accommodate 370 software engineers. Narayan, however, declined to specify the number of people Adobe would be taking in the near future for the centre.

VSNL panel

New Delhi, Oct. 8: The sub-committee of Videsh Sanchar Nigam Ltd (VSNL), which is reviewing the controversial decision to invest Rs 1,200 crore in Tata Teleservices Ltd, may finalise its views before the next board meeting of the company, slated for October 21.

Dahej project

New Delhi, Oct. 8: Petronet LNG Ltd, the consortium of public sector oil companies for import of LNG, will achieve financial closure for its 5 million tonnes Dahej project by June 2003.

Govt borrowing

New Delhi, Oct. 8: The government has borrowed Rs 98,000 crore till the first week of October, which is about 69 per cent of the budgeted Rs 1,42,867 crore for the entire fiscal.

PSU review

New Delhi, Oct. 8: Amidst the ongoing disinvestment controversy, heavy industries minister Balasaheb Vikhe Patil will meet the top brass of PSUs under his ministry on Wednesday to deliberate on the level of protection and the government’s role to enhance their competitiveness.

Jagson Airlines

New Delhi, Oct. 8: A new aviation war is likely to start soon with private unscheduled carrier Jagson Airlines all set to acquire 10 aircraft costing about Rs 250 crore for starting scheduled domestic flights early next year.

Punjab & Sind

New Delhi, Oct. 8: Punjab & Sind Bank today said it has launched a new scheme under which medical practitioners, with an experience of three years or more, can avail loan for a period of six years to finance opening of medical clinics.

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