Briefly Business

BHEL has said it would formalise its much-awaited technology transfer agreement with the England-based Sheffield Forge Masters next week...

BHEL,Sheffield to ink tech pact next week

NEW DELHI: BHEL has said it would formalise its much-awaited technology transfer agreement with the England-based Sheffield Forge Masters next week,which would help it manufacture and upgrade castings and forgings. This agreement would enable BHEL to manufacture new and improved castings and forgings,which are the key components in power equipment,at its Haridwar unit.

EPFO likely to pay 8.5 pc interest

NEW DELHI: For the sixth year in a row,the EPFO subscribers are likely to get 8.5 per cent interest on their provident fund PF deposits for 2010-11. Maintaining 8.5 per cent interest rate for 2010-11 would leave a surplus of Rs 15.26 crore whereas EPFO would face a deficit of Rs 426.53 crore if it gives a return of 8.75 per cent to subscribers, an EPFO source said.

UBI to hit capital market on Feb 23

KOLKATA: United Bank of India would hit the capital market with its initial public offer on February 23 to raise capital. Executive director T M Bhasin said the issue was targetted towards augmenting capital base of the bank. He said that post the stake dilution,government holding in the bank would stand at 84.2 per cent. The bank would dilute 15.8 per cent stake through the IPO.

PC market export sales touch 19.7 lakh

BANGALORE: The overall India PC market shipment sales touched 19.7 lakh units in the October-December 2009 quarter,recording a 25.7 per cent year-on-year growth pointing to a strengthening recovery,according to market researcher IDC. Desktop PC sales accounted for nearly two-third of total sales at 12.7 lakh units,representing a 14.6 per cent increase on year-on-year basis.

Food Processing gets Rs 9,000 cr FDI

NEW DELHI: The food processing sector attracted over Rs 9,000 crore Foreign Direct Investment FDI during the April-November period of the current fiscal,the highest ever so far. Earlier,we used to receive FDI in the range between Rs 2,000-4,000 crore a year. This has significantly gone up in the first eight months of the current fiscal to more than Rs 9,000 crore, food processing industries secretary Ashok Sinha said.

Godrej prop looking at JVs with landowners

BANGALORE: Godrej Properties,part of the Godrej Group,is looking at joint ventures with landowners as the firm does not have any landbanks. The focus of Godrej Properties is affordable housing with a price range from as low as Rs 5 lakh to Rs 20 lakh and we see a lot of potential in this,Godrej Group chairman Adi Godrej said.

Virgin launches GSM services in Mumbai

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MUMBAI: Virgin Mobile on Friday commercially launched its GSM services in Mumbai and Maharashtra. Consumers will be offered a tariff of 20p/min for STD and local calls to any Virgin Mobile number.