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Centre sticks to its guns on ICI-Asian Paints share transfer
The government has not changed its stance on the effort of British chemical major ICI Plc to buy shares of a promoter in blue-chip Asian Paints India Ltd (APIL), according to government sources. ICI had sought the government's help following a refusal issued by the Foreign Investment Promotion Board (FIPB) to consider the ICI application for investing in APIL.
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Trafalgar plans venture with parent for select local projects
Trafalgar House Construction India (THC India) will team up with Kvaerner Construction International, a part of Kvaerner ASA, the parent company, to bid for select projects in India. The bids will be made on a case-to-case basis; and will ensure that the arrangement provides international quality products at Indian prices.
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Thyssen, Krupp set to merge
German steel and industrial groups Thyssen AG and Fried Krupp AG Hoesch-Krupp have outlined their plan to fuse, calling it a "merger and not a takeover." The new entity, to be named Thyssen Krupp AG, will have annual sales of about 70 billion marks ($39 billion) and a work force of 186,000, based on the two firms' individual forecasts for this year.
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BPL, Akai spar on home-theatre front
The competition in the home-theatre market is hotting up with BPL virtually declaring war against Akai by introducing a new range. The Nabiar-controlled company's home-theatre system boasts add-ons comprising a three-channel digital-signal processor and three speakers, while Akai is selling an add-on package consisting of a video compact-disc (VCD) player and six speakers. Both companies are contesting the other's claim on what forms a complete home-theatre system.
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