Tuesday, September 1, 1998
SAP AG to set up second domestic arm
SAP AG, the world leader in enterprise resource planning (ERP) packages, is setting up another wholly-owned subsidiary in the country which will undertake development activities for the future releases of its core product. Called SAP Laboratories India, the development centre will be based out of Bangalore and will be the German software major's fourth development centre in the world.
MSEB's subsidies push up power tariffs
The Maharashtra State Electricity Board's (MSEB's) subsidies to various segments amounted to Rs 4,000 crore, while its dues were Rs 3,000 crore in 1997-98. These subsidies resulted in pushing up the power tariff in the country, chairman Ashoke Basak said.
Badge of pride for Hyundai Motor
Hyundai Motor Company (HMC) has been ranked first amongst Korean auto makers and 13th globally for the year 1997, according to automobile magazine, Automotive News, 1998 Market Data Book.
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