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Since 1st March, 1999
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Business Briefs

Zydus inks pact with Schering

Ahmedabad, Oct. 2: Zydus Cadilla today entered into a strategic agreement with Schering AG, a research-based German pharma company, to manufacture and market the latter’s products in India. “Zydus Cadilla has become a ‘partner of choice’ for marketing existing and new products of Schering AG and the agreement allows patented products of the latter to be marketed in India beyond 2005,” a company release said here.

ARC licence

New Delhi, Oct. 2: Asset reconstruction firms, set up to assist banks and FIs in reducing their non-performing assets pegged at over Rs 90,000 crore, are all set to start operations shortly. “Of the dozen applications for ARCs, two have got licence from RBI,” banking secretary N. S. Sisodia said.

Candia move

New Delhi, Oct. 2: The Rs 1,200-crore Jaipuria group has inked a tie-up with French dairy major Candia under which they will make and sell the latter’s ice creams in India at an investment of Rs 100 crore.

Selloff delay

Calcutta, Oct. 2: The recent Supreme Court order on HPCL and BPCL privatisation has to a great extent affected the divestment of Burn Standard, Braithwaite, Bharat Wagon and BBJ Construction despite considerable progress made recently in this direction.

Ascon survey

New Delhi, Oct. 2: India’s services sector continued on its high growth track during the first half of the current fiscal, according to CII-Ascon report. “With cellular services recording a 180 per cent growth, housing finance 35 per cent, project consultancy 43 per cent and software exports 40 per cent during the April-September period this year, India’s economy received a big boost,” a CII release said.

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