Satyam Computer Services Ltd has entered into a strategic global partnership with Zycus Inc. The alliance will entail Satyam to offer implementation and system integration services around Zycus' entire product suite ? Zycus spend data management ? the company has informed the Bombay Stock Exchange. The new global alliance will combine the company's proficiency in the consulting and system integration arena with the software technology of Zycus to deliver a timely and value-added solution to customers worldwide, it said.
Reliance Infocomm has signed an agreement with LG Electronics to offer Internet connectivity on LG desktop computers. According to the agreement, those buying LG desktop computers in India would be provided Reliance cordless fixed wireless phone and a data cable to avail of the Internet connectivity at speeds faster than dial-up connections.
ICICI Bank has opened an office in South African city Johannesburg to capitalise on India?s growing ties with African countries. ICICI Bank will use the Johannesburg office to co-ordinate its trade finance operations in Africa, previously run from India. The bank is also seeking permission to open a representative office in Kenya, they said.
Life Insurance Corporation has increased its surplus by over 12.5 per cent to Rs 10,987.60 crore in 2003-04, while its assets crossed Rs 4,00,000-crore mark in 2004. The insurance major distributed 95 per cent of the surplus (about Rs 10,438 crore) to over 14.11 crore policy holders by way of bonuses during 2003-04 and the remaining 5 per cent (Rs 548.13 crore) to the government.
SBI Life Insurance Company had doubled its equity capital base to Rs 350 crore to support business growth plans and maintain solvency margins. The joint venture partners, State Bank of India and Cardif SA of France, have contributed the additional amount in proportion to their stake of 74:26, SBI Life said. The authorised capital of the company also stands increased to Rs 500 crore.
National Mineral Development Corporation Ltd (NMDC) plans to invest Rs 1,000 crore to explore new mines of 20 to 30 million-tonne capacity in three years. Sources said the company was also planning to launch a solid waste management project near Nagarnar (Jharkhand) to extract the iron ore content from solid waste.
Yahoo! India has organised the Yahoo! Mobile Megafest to mark the 10th anniversary of the parent company. During the celebrations, mobile users can download select ringtones, wall papers, polyphonic tones, games, logos and picture messages free of cost through the Yahoo! India shotcode 8243.
