Aviva, Canara in alliance
Aviva Life Insurance, one of the private life insurance players, has signed an agreement with both Canara Bank and Lakshmi Vilas Bank (LVB) to sell its products through their branches. In the first phase, Corporatelife, a group term insurance product would be made available on option to the customers availing a housing loan from the banks, Aviva Life Insurance CEO Stuart Purdy said. Easylife, a simple regular savings plan with the benefit of life protection would also be available to the bank’s customers, LVB chairman and CEO A. Krishnamoorthy said.
Sundaram Mutual Fund has declared a dividend of 4.5 per cent on Bond Saver Fund, 3 per cent on Gilt Fund and 1.4 per cent on Money Fund. It has also declared a dividend of 2.5 per cent on the Income Plus Fund, while various options under select debt fund would offer dividends up to a maximum of 2 per cent. The proposed dividends are being issued from December 13-27.
Volvo has introduced a new FM9 tipper in India as part of its global launch. It’s part of one of the biggest renewals of Volvo trucks involving an investment of close to Rs 2,900 crore.
NIIT will set up 200 e-recruitment kiosks with its proprietary technology across the country to address the manpower needs of the IT-enabled services industry by September 2003. The kiosks ‘Time Machine’ will be set up by NIIT Planetworkz in the vast network of the company’s education centres.
Chennai-based TI Cycles, part of the Murugappa group, has said it will set up a bicycle assembling unit at Noida to cater to the northern and eastern regions of the country.
Philips India Ltd has introduced a broadband internet audio system, enabling access to online music services.
The Indo-German Export Promotion Council (IGEP) has signed a memorandum of understanding (MoU) with Handloom Export Promotion Council (HEPC) to promote Indian handloom products in the European market including Germany.
Fitch Ratings India has affirmed the AAA(Ind) rating assigned to the fixed rate bonds, deep discount bonds, floating rate bonds and GE Capital 30 day reset programme of GE Capital Services India. The rating outlook is stable.
Global electronic design tools company Mentor Graphics will invest $ 50 million in India over the next five years to ramp up its R&D activities besides doubling the India headcount to about 350.
WPP Media has won the office of the year award at The Media Magazine’s annual Asia Pacific agency awards.