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Aegon buys TransamericaMUMBAI: The Oil and Natural Gas Corporation (ONGC) is implementing an Enterprise Resource Planning system on SAP's...

Aegon buys Transamerica

MUMBAI: The Oil and Natural Gas Corporation (ONGC) is implementing an Enterprise Resource Planning system on SAP’s R/3 to bring down its cost of operations and reduce inventory. The system will also help the management to take quick decisions in critical areas. The company spends close to Rs 100 crore annually in upgrading its Information Technology systems, a press release said. A two-day conference on "IT Vision for ONGC" kicked-off on Thursday with the keynote address being delivered by M G K Menon, head of the task force on IT.

MUMBAI: The Securities and Exchange Board of India (SEBI) has cleared the first buyback offer after guidelines were announced last year. The tender offer for buyback of shares of Fortune Financial services (India) Ltd at a price of Rs 10 per share was the only buyback offer that the regulator has received so far.

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The company expects to buy back 13,73,226 equity shares with face value of Rs 10. Triumph International Finance India Ltd was themerchant banker to the issue, SEBI said in a statement here today.

Brand equity fund

MUMBAI: The India Brand Equity Fund (IBEF) was launched by Minister of Commerce, Ramakrishna Hedge in New Delhi on Thursday. IBEF had been conceived as a joint initiative of government and industry to promote Indian brands in overseas markets. The Government had taken the lead in setting up the fund and contributing Rs 50 crore to its corpus.

The trust has finalised the guidelines on the basis of which applications for loans can be considered. It has also agreed to fund the promotional plans to two prominent companies: K G Denim Ltd and HMT (International) Ltd. K G Denim is the manfuacturer of `Tiger’ brand of jeans which is being marketed in several countries. HMT proposes to establish exclusive showrooms for HMT watches in various countries. Hegde handed over the relevant loan documents to the two companies on the occasion.

Mallojula Venugopal Rao alias Sonu and Thippiri Tirupathi alias Devuji

Spate of surrenders later, Maoists get new public liaison who vouches for ‘armed struggle’

India4 hr ago

The banned Communist Party of India (Maoist) has found a new public voice after its ideological head Mallojula Venugopal Rao alias Sonu surrendered along with 60 cadres in Maharashtra earlier this month. According to Telangana intelligence sources, Thippiri Tirupathi alias Devuji, believed to be the current General Secretary of the party, has doubled up as its public face under the pseudonym Abhay

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