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NEW DELHI / BANGALORE: International car firms are making a beeline for the Indian shore with almost a dozen car rental brands expected to enter the market soon. According to industry sources, American car rental major Avis-owned brand Budget is likely to enter the country. Similarly, US car...

NEW YORK/MUMBAI: The Ford Motor Company is expected to receive opening bids on Thursday for its Jaguar and Land Rover brands from a number of companies including private equity firms and other automakers, the New York Times reported on Thursday, citing people with direct knowledge of the...

MUMBAI : With the government yet to approve foreign holding in ICICI Financial Services, ICICI Bank may look at options to rope in domestic investors in the holding company. An application for offering a slice of the holding company’s equity to overseas investors is stuck with the Foreign...

MUMBAI: UTI Bank on Sunday said it has successfully priced its GDRs of 14.13 million aggregating to 218.07 million dollars. Each GDR was priced at 15.43 dollars and will be listed on the London Stock Exchange, the bank said in a statement. The bank has fixed its issue price for Qualified...

DUBAI: Bank of Baroda plans to expand its operations in the Gulf countries during its centenary year, with the opening of a new branch in Bahrain and planned opening in Qatar. BoB is the only Indian bank to have operations in the UAE. It also has operations in Oman. "The bank would be making...

MUMBAI: Private sector lender Centurion Bank of Punjab said on Monday its board had approved setting up a subsidiary to undertake pension funds management. Ahead of the news, shares in the company ended 1.47 percent down at 40.20

NEW DELHI: Punjab State Cooperative Milk Producers Federation Ltd, popularly known as Milkfed Punjab, has tied up with two public sector banks to provide loan to farmers as an effort to increase milk production, which includes setting up of 100 commercial dairies in the state. "We have...

MUMBAI: Union Bank of India on Monday lowered the interest rate on deposits by 0.50 per cent. For deposits of a tenure of one year to less than three years, the public sector lender would offer interest at nine per cent instead of 9.50 per cent earlier. The new rate will come into effect from...

MUMBAI: State-owned banks are discouraging retail customers from taking personal loans despite a slowdown in loan growth and abundant liquidity. Higher provisioning norms on personal loans imposed by the central bank in January this year have prompted this move, according to bankers. Over the...

MUMBAI: HDFC Bank has raised $607 million through an American Depository Share (ADS) issue. In the next couple of days, the bank will raise an additional 15% through a green-shoe option. HDFC Bank has priced the ADS issue at $92.10. Each ADS represents three shares of the bank. At the cut-off...

BANGALORE: Biovel Life Sciences Ltd, a biotechnology firm, has inked a licensing agreement with US-based Dowpharma to produce Human Growth Hormone (HGH) using Pfenex Expression Technology, for the first time globally. Announcing the completion of the first phase of its 10-acre facility at...

AHMEDABAD: The State is turning into a biotech hub. While big pharma companies such as Zydus Healthcare plans to focus on biotech in a big way, more pharma companies are mulling a foray into the sector. What’s more, a large number of smaller players have emerged in the state — including some...

MUMBAI: Biocon has entered into a licensing agreement with a global biopharmaceutical company to develop and market a bio-similar version of granulocyte-colony stimulating factor in North America and the European Union. Under the agreement, Biocon will receive an upfront licensing fee, and...

CHENNAI: Abl Biotechnologies Ltd on Thursday said it has signed a MoU with Christian Medical College, Vellore, for joint research in several areas in management of various diseases prevalent in Indian sub-continent. "This MoU signals the beginning of an initiative that will bring together...

BANGALORE: Biotech major Biocon is selling its enzymes business to Denmark-based Novozymes for $115 million. The transaction, subject to shareholder and regulatory approvals, is expected to be completed by the end of the third quarter of 2007. The move will enable Biocon to focus on its core...

AGRA: Uttar Pradesh's efforts to promote tourism in Agra have gained momentum after the inclusion of the Taj Mahal, India's greatest tourist draw, in the new list of Seven Wonders of the World. Everyone from the district authorities, the municipal corporation and tourism bodies is trying to...

NEW DELHI: Country's leading real estate developer - Parsvnath Developers Ltd (PDL) has launched a luxury shopping mall cum multiplex "Parsvnath City Centre" at a cost of Rs 50 crore in Vastrapur, Ahmedabad. Spread over an area of 4834 sq mt, the city centre would comprise five floors to...

CHANDIGARH: Digital Media Convergence Limited (DMCL), part of Essel Group, today announced the launch of mobile TV application service 'ISEE' in partnership with BSNL in the northern region here. "With this partnership, BSNL subscribers having GPRS facility will be able to watch Zee group of TV...

BOSTON: Fourteen-year-old Ashley Bernard has been a huge Harry Potter fan since she was 7, but each time a new book comes out, she has had to wait longer than most of her friends to get a copy. Bernard is blind, and the first six Potter books were not published in Braille until some time after...

NEW DELHI: A high-powered Department of Telecom (DoT) committee has recommended that only three GSM (one slot reserved for state-owned BSNL/MTNL) and two CDMA operators be allowed to offer 3G services in any given circle. It has further proposed to double the base price for auction of 3G...