Briefly Business

Reversing the companys earlier proposal to set up a diesel engine facility in Chennai,Hyundai Motor Indias new Managing Director...

No plans of diesel plant: Hyundai MD

New Delhi: Reversing the companys earlier proposal to set up a diesel engine facility in Chennai,Hyundai Motor Indias new Managing Director and CEO Han-Woo Park has said as of now there was no such plan. As of today,I do not consider a diesel plant,I do not have any idea. If the diesel market expands,then we will consider, he told reporters here.

Tata defends JLR,Corus acquisitions

New Delhi: The Tata Group chairman Ratan Naval Tata has termed the acquisitions of the British marquees Jaguar Land Rover as strategic and worthwhile and said the company will strive to bring the old glory of the brands. He also said that JLR is likely to continue importing into the country rather than setting up an assembly line here.

Telenor cuts capex by Rs 3,500 crore

New Delhi: Benefitting from lower equipment costs,the Norwegian mobile operator Telenor,which is partnering Unitechs telecom foray,has cut down its India investments plans by a hefty Rs 3,500 crore from the earlier estimate of Rs 15,500 crore,spread over five years. The targeted roll-out,combined with better terms from equipment vendors,will reduce the capex requirements. Accumulated capex in the first first five years will be reduced by Rs 30-35 billion, it said.

Wockhardt gets FDA nod for Nicardipine

Mumbai: Pharma company Wockhardt has said it has received the final approval from the US drug regulator for its anti-hypertensive injection Nicardipine. The US Food and Drug Administration FDA has given final approval for marketing of Nicardipine HCI injections in 25mg/10 ml strength,used in the treatment of hypertension,Wockhardt Ltd said in a filing to the Bombay Stock Exchange.

Union Bank of India to raise 500 mn

New Delhi: State-owned Union Bank of India has said it will raise 500 million about Rs 2,250 crore through bonds by the end of this fiscal for expanding its global operations. We might raise 500 million dollar before March 2010 for overseas operation, Union Bank of India chairman and managing director M V Nair told reporters after announcing implementation of 100 per cent core ba-nking in two regional rural banks sponsored by it.

Dominos Pizza India changes name

New Delhi: Dominos Pizza India Ltd,which runs fast food chain Dominos Pizza in the country,on Wednesday said it has changed its corporate name to Jubilant FoodWorks Ltd. The change of name comes in effect from September 24 this year,it said in a statement. The decision to change the name has been taken to align ourselves with the branding of the Jubilant Bhartia Group,promoted by Shyam S Bhartia and Hari S Bhartia, Jubilant FoodWorks CEO Ajay Kaul said.