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

Taj sells Indore property

Mumbai, Aug. 8: Piem Hotels Ltd, an associate company of the Indian Hotels Co Ltd, has sold Taj Residency at Indore to hotelier Kamal Galani for an undisclosed amount. Effective from September 1, the hotel would no longer be managed by the Taj group and would not bear the Taj Residency name, a company release said. The sale is part of the Taj group and Piem Hotels ongoing portfolio rationalisation and brand restructuring exercise, the release added.

IOC unit

New Delhi, Aug. 8: Indian Oil Corporation (IOC) today launched a new wholly-owned subsidiary — Indian Oil Technologies Ltd — to market the intellectual properties developed by its research and development centre.

Sebi guidelines

New Delhi, Aug. 8: Having sounded a ‘high alert’ on volatile movements in the market and to save small investors, Sebi chairman G. N. Bajpai will launch a practical guide for household investors, prepared by the Delhi Stock Exchange, here tomorrow.

RBI notice

New Delhi, Aug. 8: The Reserve Bank has directed PSU banks having overseas branches to fully comply with regulatory requirements of the foreign country, in the face of stiff penalties imposed on two overseas branches of State Bank of India.

BG plan

New Delhi, Aug. 8: British oil and gas major BG group and its Indian partners, ONGC and Reliance Industries, will invest $ 140 million over the next 18 months in developing Panna-Mukta and Tapti oil and gas fields to improve production, said Nigel Shaw, CEO, BG India.

Exports panel

New Delhi, Aug. 8: The task force on project exports has suggested setting up of facilitation cells to assist exporters. Suggesting strategies to promote export of project consultancy services, the panel advised streamlining and capacity building of Indian missions overseas to improve delivery and support system, commerce and industry minister Arun Jaitley said.

Indica in UK

Chennai, Aug. 8: Tata Motors’ B segment car Indica is to hit the British roads shortly under an export agreement with MG Rovers, UK, said Rajiv Dube, vice-president of the company.

Email This Page