Rabo to aid water projects
Rabo India Finance Pvt Ltd, a subsidiary of Rabobank Netherlands, has launched a division to provide corporate and investment banking services to clients in the water sector. One of the key objectives of the water division would be to facilitate participation of Dutch companies in Indian water sector, a Rabo India release said. Rabo India has set a dedicated team for advising clients in developing water projects in India and would draw upon its vast international experience in this sector to provide comprehensive services to the clients, it said.
Marico Industries has ventured into skincare services and plans to set up a chain of clinics known as Kaya Skin Clinic. The first clinic will open in Mumbai next month and will offer a wide range of effective skin treatments customised for Indian skin types.
SIB net up
South Indian Bank (SIB) has reported a 20 per cent increase in net profit at Rs 29.12 crore in the first half of the current financial year. It has reported an operating profit of Rs 77.01 crore during the period under review.
Keane Inc has signed a five-year, $ 33 million application development and management outsourcing contract with PSEG, which will utilise the companyís Hyderabad development centre. Delivery teams from Keaneís development centre in Hyderabad will utilise the parentís application management methodology.
ABN Amro has launched its shared service centre ABN Amro Central Enterprise Services (ACES) in Mumbai. ACES, a 100 per cent subsidiary of ABN Amro Bank N.V. has been set up with the objective of providing high quality, cost effective processing services for ABN Amro Bank Worldwide.
Fitch Ratings India has affirmed the AAA(Ind)(SO) rating assigned to the Rs 225-crore non-convertible debenture programme of Ford India Limited. The rating outlook has been changed from negative to stable.
Indo Rama has reported a total production of 31, 327 tones for October 2002, a 7 per cent rise over 29, 214 tonnes in October 2001. The sales volume for the month was 35, 638 tonnes, a 24 per cent increase against 28, 785 tonnes in the corresponding month of the previous year.
Ion Exchange (India) Limited has developed the Indion disaster management unit for drinking water treatment. The mobile drinking water treatment system has been specially developed to meet the need of safe drinking water during disasters such as droughts, cyclones, floods and earthquakes.
Wills Navy Cut
The House of W.D. & H.O. Wills of ITC Limited has introduced a new look packaging for Wills Navy Cut cigarettes, a company release said.