Briefly Business

Trade ministers from India and the ten south-east Asian nations will meet in Vietnam later this month to speed up negotiations ...

India,Asean trade ministers to meet

New Delhi: Trade ministers from India and the ten south-east Asian nations will meet in Vietnam later this month to speed up negotiations so that an agreement could be signed on services during the India-Asean summit in October. The two sides India and Asean are keen to liberalise the trade in services and investment. Ministers will meet on August 26 and 27 to give a fillip to the talks, a Commerce Department official said. The official,however,admitted the pace of talks was slow as there were some differences.

Sansui to enter mobile segment

New Delhi: Japanese consumer electronics firm Sansui on Monday said it will foray into the mobile handset segment by the end of this year as part of plans to double its overall turnover to Rs 2,000 crore by 2011. The company,whose products are currently being marketed by consumer durables firm Videocon,said it will invest Rs 40 crore on promotional activities in the next six months and will also enhance its existing products range this year.

Infosys distressed by chop shop statement

Bangalore: Software giant Infosys has taken strong objection to a US senator describing it as a chop shop and asserted that the company was a responsible corporate that creates jobs and provides high quality services across the world. We are distressed with this statement. Infosys is a good corporate citizen,pays its taxes and is law abiding, the Bangalore-based company said. New York Democrat Charles Schumer had likened Infosys to a chop shop.

HSBC appoints Naina Lal Kidwai as director

New Delhi: UK-based Hongkong and Shanghai Banking Corporation HSBC on Monday appointed Naina Lal Kidwai Country Head India Operations as a Director of the bank. Kidwai,who has been with the bank since 2002,will join the board effective October 1,subject to regulatory approval from the Hong Kong Monetary Authority,HSBC said in a statement.

Bajaj Capital to open four Wealth Cafes

Mumbai: Investment advisory and financial planning firm,Bajaj Capital,on Monday said it will invest Rs one crore to open four Wealth Cafe outlets in the next two months in India. Bajaj Capital ventured into the organised coffee retail chain business in May this year with the launch of its first Wealth Cafe outlet in Noida. We will open at least four outlets by October this year, Bajaj Capitals senior vice-president marketing Vishwajit Parashar said.

Art from Lehman branches on auction

London: Artwork from the European branches of the collapsed US investment bank Lehman Brothers will go under the hammer in London next month in a two-million-pound auction,administrators have said. Works by Lucian Freud and Gary Hume will figure at the sale at Christies auction house on September 29,which comes two years after the banks demise,said administrators PricewaterhouseCoopers.