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May 26th, 2009 — News
According to news reports, a group of armed robbers looted high value cargo from the Mumbai domestic airport’s cargo terminal. The cargo containing six parcels of gold and silver coins weighing 145 kgs was robbed after four people flashed a gun at a cargo counter.
May 19th, 2009 — News
Europe’s largest airline, Air France-KLM announced losses of €814 million for fiscal year 2008-09. In the last financial year, the group had announced around 2700 job cuts and further cuts ‘on similar lines’ are to be expected this year.
This is the first time the group suffered losses since it was formed in 2003. Continue reading →
May 19th, 2009 — News
Great Offshore Ltd has announced that ONGC has cancelled its contract and invoked a performance guarantee of around $3.8 million.
This is a result of Great Offshore’s non-delivery of the jack-up rig named Samed Shikhar.
As per the terms of contract, the company was to deliver it by 14th May 2009.
May 19th, 2009 — News
Blue Dart has announced the opening of its new service centre at Valsad in South Gujarat. This new service centre will have access to its entire range of products and services – both air and ground, domestic and international.
In addition, it would also service DHL customers in this region.
Blue Dart said that this initiative consolidates its presence in the North-South corridor of Gujarat starting from Vapi in the South extending up to Mehsana in the northern part of the state.
The company already has service centres in Ahmedabad, Navsari, Billimora, Surat, Ankleshwar, Vadodara, Anand, Nadiad, Halol, Rajkot, Bhavnagar, Gandhidham, Jamnagar and Vapi.
May 19th, 2009 — News
S. S. Raman is the new Managing Director of TVS-E Servicetec, a part of $3.5 billion TVS Group.
Established in October 2007 as a separate entity, TVS-E Servictec provides services to various industry verticals such as IT and peripherals, cell phones, banking and retail automation, telecom infrastructure and lifestyle electronics.
May 19th, 2009 — News
Nokia today announced plans to align activities in its Demand Supply Network Management organisation, which is responsible for production and logistics for its mobile devices.
May 19th, 2009 — News
Japan-based Sumitomo Metal Industries Ltd enters India through a joint venture with Amtek Auto Ltd for production and sale of forged crankshafts for automotive applications in India.
The new company, which is tentatively named SMI Amtek Crankshaft Pvt Ltd, will see 50 percent investment from Amtek, 40 percent from Sumitomo Metals and 10 percent from Sumitomo Corporation, a global partner of crankshaft business of Sumitomo Metals.
May 18th, 2009 — News
In a statement to BSE, Bartronics India Ltd claimed that it has acquired a project to implement RFID technology in a Slaughter House in Delhi. The company won this project amidst stiff global competition, the statement added.
Recently, Municipal Corporation of Delhi (MCD) had issued a tender (001/DVS/2009) requesting bids to RFID enable Ghazipur Slaughter House in order to improve the overall operational efficiency and reduce customer confusion regarding the type of meat (halal and jhatka).
May 18th, 2009 — News
Apollo Tyres has informed BSE that it has successfully concluded the acquisition of 100 percent shareholding of Dutch company, Vredestein Banden BV (VBBV). Last month, Apollo Tyres had offered to acquire VBBV, which had filed for bankruptcy in Almelo Court in The Netherlands, and the Dutch trustee had accepted it.
May 16th, 2009 — News
The outcome of the Loksabha Election 2009 is unlike any of the prediction’s made by political analysts. Although a majority had predicted UPA to dominate this election, the final tally, and the way it unfolded is a far cry from the numbers that came out of exit polls.
