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

Maruti to be Suzuki R&D hub

New Delhi, April 27: Maruti Udyog will be developed as a research and development (R&D) hub for the entire Asian market by Suzuki Motor Corporation. This plan was revealed in the draft prospectus filed by Maruti with the Securities and Exchange Board of India to divest 25 per cent government stake through a public issue. With this, the country’s largest carmaker would become the only R&D centre for cars outside Japan for Suzuki.

Petronet pact

Dahej (Gujarat), April 27: Petronet LNG will sign next month an agreement with Indian Oil Corp, Bharat Petroleum Corp and Gas Authority of India for committed offtake of imported LNG, which it proposes to market before the end of current fiscal.

Nortel move

Bangalore, April 27: The Indian subsidiary of Nortel Networks will focus on providing solutions in contact centre, security, voice over internet protocol and metro area network segments to enterprises through channel partners and distributors.

Rural phones

New Delhi, April 27: The Universal Service Obligation Fund, set up last year to compensate telecom operators for meeting non-profitable ventures like rural telephony, will invite bids for replacement of two lakh village public telephones by July this year.

Farm lending

New Delhi, April 27: The standing committee on finance, headed by N. Janardhana Reddy, has suggested that penalties be imposed on public and private sector banks that register shortfalls in lending to agriculture. It has also recommended abolition of interests on Rural Infrastructure Development Fund.

Email This Page