JSPL: ?No reason? behind deallocation of coal block
Jindal Steel and Power has said it sees ?no reason? behind deallocation of the coal block allocated to it in Chhattisgarh, saying environment clearance was granted to it on February 10. A committee of the environment ministry has considered the matter last month and recommended that ?the project for grant of EC (environment clearance)… Pursuant to the said recommendations, the EC was granted on February 10, 2014,? according to a JSPL spokesperson. ?In the circumstances explained above, we see no reason as to why this coal block be de-allocated by MOC (ministry of coal),? the spokesperson said.
Elder Pharma hires Deloitte to rejig biz
Elder Pharma has appointed Deloitte for restructuring the company and its brands, following the sale of its formulation business to Torrent Pharma for R2,004 crore. The company?s overall strategy is to focus on its remaining brands, including Eldervit and Somazina, and position itself further in the growing nutraceuticals segment. As per the deal, major chunk of Elder Pharma?s staff will be joining Ahmedabad-based Torrent after March 31 and would need an organisational restructuring.
Ansal Buildwell to invest $100 m in Bahrain market
Realty firm Ansal Buildwell on Wednesday announced a tie up with Bahrain-based VKL Holdings under which the two firms would invest $100 million each to develop housing and infrastructure projects in India and Bahrain. Ansal Buildwell signed a memorandum of understanding (MoU) with VKL Holdings and group firm Al Namal to explore opportunities of investment in India and Bahrain.
Evalueserve forms JV with Sony, Hazuki Int?l
Global research and analytics company Evalueserve has set up a joint venture with Sony and law firm Hazuki International for offering intellectual property-related services. The JV ? IPValueserve ? will offer Japanese corporates innovative and highly efficient new process of filing and prosecuting patents in the US, Evalueserve said. ?We have worked with Evalueserve for some time, and believe that its ability to reduce the cost of US patent applications by 30-50% without compromising quality will be beneficial to many Japanese companies,? Sony head Global IP Toshimoto Mitomo said.
NMDC hikes wages by up to R12,000
NMDC has signed a wage pact with the workers, revising their compensation packages, which is estimated to be around R65 crore per annum. The Ninth Tripartite Wage Settlement, for a period of five years with effect from January 1, 2012, was concluded between the NMDC management and All India NMDC Workers? Federation on Wednesday. Both the parties have also agreed to increase the production level of NMDC to 32 million tonne per annum (mtpa) from the present 30 mtpa. The settlement has been widely acclaimed by the workers.
Indians top list of active buyers of Dubai property
Indians have topped the list of Dubai?s most active real estate buyers as they view the city in the same league as London, according to a survey. The relative geographic proximity to India and the large non-resident Indian population in the region are two further critical drivers for those looking to park their rupees in Dubai?s real estate market, according to real estate consultancy Cluttons. ?Unsurprisingly, Indian nationals topped the list of the city?s most active buyers, with Dubai often viewed in the same league as London by this group,? Faisal Durrani, associate residential and international research at Cluttons, said.
Ford launches Quick Lane Services in Nashik & Kochi
Ford India has launched two new Quick Lane Services in Nashik and Kochi. With this, the company has expanded its sales and service footprint to 304 facilities across 164 cities. ?One of our key priorities is to make the Ford brand even more accessible to new customers. With a growing footprint of 304 sales and service facilities in 164 cities, we are making it convenient for customers to experience and enjoy our great brand,? said Ford India president Nigel Harris. Ford has also introduced the ?Happy Pocket Service? in the country.
MTS to enter security surveillance segment
Telecom operators Sistema Shyam Teleservices, which operates under the MTS brand, on Wednesday announced it is entering into the remote security surveillance
segment with launch of an internet-based solution in partnership with D-Link. ?MSecure launch makes MTS the first telecom operator in the country to offer video surveillance solution bundled with the MBlaze Ultra WiFi Dongle,? MTS India chief marketing & sales officer Leonid Musatov said. The company is offering MSecure products for R6,000 and R9,000 with day and night vision.
