MUMBAI, June 1: The joint venture between Japanese automobile giant Toyota and the Pune-based Kirloskar group for manufacturing light commercial vehicles for the Indian market has been finalised to be a 100 per cent equity by the partners with no external dependance. The joint venture would be launched on July 24. Company sources said the 10-seater sports utility Kijang model with a 1500 cc diesel engine would be launched first in the plant near Bangalore.

Hudco lends Rs 500 crore to Tamil Nadu: The Housing and Urban Development Corporation (Hudco) will extend Rs 500 crore this year to Tamil Nadu for housing and development of infrastructure facilities. This was decided at a meeting held in the secretariat today between Tamil Nadu chief minister, M Karunanidhi and Hudco chairman, V Suresh. Of the Rs 500 crore, Rs 200 crore would be used for constructing two lakh houses and the balance for creating infrastructural facilities.

IBM show in six cities: Tata Information Systems (TISL), the IBM and Tatas joint venture in India will organise `the IBM show' in six cities in India during June and July 1997. The programme will be launched in New Delhi on June 4 and 5 and will then move to Mumbai, Calcutta, Hyderabad, Bangalore, Chennai and Pune.

Steep hike in urea suggested: The ninth plan working group on fertilisers has recommended a steep initial hike in urea prices followed by a 10 per cent annual increase from 1998-99 onwards. Ascribing the fall in soil nutrient balance to decontrol of phosphatic and potassic fertilisers in 1992 while keeping nitrogenous nutrients under price control, the group said this led to a fall in agricultural productivity in certain regions.

Ficci's plea to Centre: The Federation of Indian Chambers of Commerce and Industry (Ficci) has urged the government to remove a 20 per cent cap on cross-media holding and the 49 per cent limit on foreign capital in broadcasting companies. Ficci president, Mr AS Kasliwal said print and broadcast being cognate business, there could not be an articicial ceiling on the stake of newspaper companies in broadcast firms.

German investments in India up: Investments by German firms into India increased by 15 per cent during 1996 while its financial commitments in partnerships with Indian firms also increased by 23 per cent during the year. German firms invested Rs 1,500 crore during 1996 as against Rs 1,327 crore in 1995 and Germany ranked fifth among the largest investors in india, according to the Indo-German Chamber of Commerce.

Computer training centre: Karrox Technologies Ltd (KTL), has entered into an alliance with Borland, Inc. of the US, as an authorised training centre (ATC), KTL will now offer the full range of computer training in the courses offered by Borland. KTL is the first ATC for Borland in Mumbai.

German aid for Rajasthan: The Nuremberg Trade Fair Authority in Germany has agreed to provide its expertise to the Rajasthan State Industrial Development and Investment Corporationin setting up a modern trade fair complex for stones.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.