Briefly Business

BP Plc will pick up a majority stake in ailing Canadian oil sands company Value Creation Inc,a property for which Reliance Industries too was said to be in race.

BP beats RIL for stake in Value Creation

NEW DELHI: BP Plc will pick up a majority stake in ailing Canadian oil sands company Value Creation Inc,a property for which Reliance Industries too was said to be in race. BP will pay an undisclosed amount for a majority stake in the 185,000-acre Terre de Grace oil sands property in northern Alberta. Earlier,it was reported that RIL had made a $2 billion bid for majority stake in Value Creation.

StanChart mulls $1 bn IDR issue by June

NEW DELHI: Standard Chartered Bank is planning to raise up to $1 billion (over Rs 4,500 crore) by June through Indian Depository Receipts (IDR). We remain keen to pursue our intent to have an IDR offering … we are looking at quarter two (April-June 2010) and we are looking at $500 million to $1 billion, StanChart Bank (South Asia) chief executive Neeraj Swaroop said.

Dow Jones,Airtel pact for news distribution

MUMBAI: Dow Jones has entered into a pact with Bharti Airtel to make financial news available to the latters clients. Under the the pact,the media firm will provide financial news from The Wall Street Journal and Dow Jones News wires to Airtel customers,Dow Jones Indias managing director Mitya New said.

Qualcomm to bid for 2.3 GHz BWA spectrum

NEW DELHI: US-based technology developer Qualcomm will bid for broadband wireless access spectrum,necessary for Wimax services. San Diego-based Qualcomm is interested in the 2.3 GHz band,that will facilitate the deployment of TD-LTE,a broadband wireless technology similar to Wimax but following a different standard. The BWA spectrum is necessary for rolling out Wimax services and helps hand-held devices and laptops access the Internet.

More AI flights on Abu Dhabi-Amritsar route

DUBAI: Air India has said its subsidiary Air India Express will ply three flights a week between Abu Dhabi and Amritsar. A B737-800 aircraft with an all economy-class cabin will continue from Amritsar on to New Delhi,increasing the number of services between Abu Dhabi and the Indian capital offered by Air India and Air India Express to six a week,the airline has said.

India Inc hiring up 17 per cent in Feb

NEW DELHI: India Incs hiring activity was up 17 per cent in February with telecom and auto sectors leading the rebound,a report by Naukri.com said. Its monthly Job Speak survey reflected renewed optimism among recruiters,with the new job index moving up to 947 in February compared to 808 in January.

Rel MediaWorks partners Imagica

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NEW DELHI: Anil Ambani group firm Reliance MediaWorks (RMW) has partnered with post-production firm Imagica Corp to offer film restoration,image processing and enhancement,and HD conversion services to Japanese broadcasters and studios.