Bizbits

ANZ plans VRS
MUMBAI: ANZ Grindlays Bank is setting up a resource management centre to work out another VRS, even as country chief Anuroop Tony Singh has ruled out any possibility of introduction of a VRS. The resource management centre will be a "proactive service provider" that will help all units identify and manage staff mis-matches in terms of numbers and skills. The whole exercise will lead to the exit of surplus staff.

Sail bonds
MUMBAI: SAIL, which has been downgraded by rating agencies by a few notches over the last few months, has managed to get a triple-A (AAA) rating for its bond issue on the strength of government guarantee. The Sail issue has been assigned a `LAAA’ rating by Icra, four notches up indicating speculative grade.

Export growth
NEW DELHI: THE export performance witnessed a revival with export growth rate touching a double digit figure in the latter half of this year following a series of policy measures taken during the year to accelerate exports. During the period April-October 1999, exports from India were valued at $20.7 billion indicating a growth of 10 per cent in dollar terms over the same period of last year.

19 Bills passed
NEW DELHI: THE government is seeking views of various information technology experts and industry organisations on the IT Bill introduced in the Lok Sabha in winter session. Briefing newspersons at the conclusion of the session, parliamentary affairs and IT minister Pramod Mahajan said the Bill was also being put on the internet to ensure widest possible discussion.

FDI in media
MUMBAI: THE government was working on the issue of allowing FDI in the media and would soon be arriving at a final decision in this regard. Stating this on Friday, Jagdish Shettighar, Convener, Economic Affairs Committee of BJP said: "the issue of foreign direct investment in the media is a complicated subject as it touches various spheres of life including cultural and the freedom of expression but the government will soon give its decision."

RBI action
MUMBAI: The RBI has cancelled the licence granted to two cooperative BANKS – Gauhati Cooperative Town Bank Ltd and Karnataka-based Hubli-Dharward Urban Cooperative Bank Ltd for carrying on banking business. "Both the banks are precluded from transacting the business of banking," said a RBI release said.

Forex level moves up
MUMBAI: Foreign currency assets (FCA) increased by $ 68 million to $ 31,347 million during the week ended December 17, 1999. As a result, the total foreign exchange reserves have gone up to $ 34,389 million, according to the Reserve Bank of India’s weekly statistical supplement. The central government further increased its dependence on ways and means advances (WMA) from the RBI by Rs 2,016 crore to Rs 7,951 crore during the week ended December 10.

Symantec Asia
MUMBAI: AS part of its commitment to providing real-time support to organisation with Y2K-related issues, Symantec Asia Pacific will be staffed throughout the upcoming New Year’s Eve and New Year’s Day celebrations. Its unique worldwide initiative, Symantec Millennium Action Response Team (SMART), will provide corporations easy access to expertise from the Symantec AntiVirus Research Centre (SARC) and assistance through Symantec’s award-winning customer support system.

Patel Roadways
MUMBAI: PATEL Roadways Ltd (PRL) has plans to purchase a fleet of commercial vehicles through a Vendor Development Programme initiated by the Patel institute of Transport Management and Research, a unique organisation. This institute has been very successful in training and creating first generation entrepreneurs to service customers at all-India levels and cater to their needs with international service standards.

BSES gets award
MUMBAI: THE Dahanu Thermal Power Station of BSES has been selected as the best for environmental award in the category of power stations below 700 MW. In large capacity power stations of more than 700 MW, the Talchar Super Thermal Power Station of NTPC was selected for the award. The panel of judges headed by Dilip Biswas, chairman, Central Pollution Control Board, selected best power stations of the country for environmental awards.

ECIL, BDPS JV
MUMBAI: ECIL (Electronics Corporation of India Ltd) and BDPS Software Ltd have formed a joint venture to spread computer education all over India. This is an exclusive and the first such partnership between a public sector undertaking and a private IT service provider in India.

Kaytee JV
MUMBAI: E-commerce technologies (India) Pvt Ltd has launched India’s first Interactive on-line business-to business portal, bizhorizon.com. This is a joint venture between Rs 300 crore Kaytee group and US-based Genesis Software Services, which is specialising and providing IT and telecommunication solutions to various fortune 500 companies like AT&T, Sprint and MCI in US.

Indiaplaza.com
MUMBAI: I ndiaplaza .com, the Indian shopping mall on the net and the first to ship its products worldwide, is now launching its unique Merchant Enablement Programme. This product reaches out to India-based retail business and helps them conduct business on the web. Jaipan IndustriesMUMBAI: JAIPAN Industries has launched a food processor-cum-mixer grinder fitted with a juicer-cum-potato peeler for the first time in the country. The company is manufacturing more than 100 products at its state-of-the-art manufacturing unit in Goregaon and Silvassa.