HPCL forms exploration, production joint venture: Hindustan Petroleum Corporation Ltd (HPCL) along with ICICI, HDFC and TDICI (formerly Tamil Nadu Industrial Development Corporation) has formed a joint venture called the Prize Petroleum Company, for exploration and production (E&P) in the country and abroad. While HPCL will control 50 per cent, the rest will be picked up by the financial institutions. The company incorporated in New Delhi will have an initial capital outlay of Rs 20 crore. This will later be hiked to meet business development needs in the future. After the first year the capital base will be Rs 120 crore, with HPCL retaining 50 percent stake. This is expected to increase to Rs 1,000 crore within the next 10 to 15 years, with HPCL's stake dropping to 26 percent. The company will be managed by an independent board of directors headed by HPCL chairman and managing director HL Zutshi.IBM, Siemens Ltd sign pact: IBM has signed an infotech partnership agreement with Siemens Ltdwhereby it will support Siemens India's IT infrastructure. Under the partnership, IBM's services arm, IBM Global Services India will take responsibility for maintaining Siemens IT infrastructure, including managing and operating their multi-location data centres, providing a disaster recovery facility, local and wide area network services and technical support and training, a release said.
Sartorius India unveils weighing scales: The Bangalore-based Sartorius India Pvt Ltd has launched carat and jewellery scales. These products are capable of measuring with an accuracy of up to 0.0000001g. The company's weighing technology division plans to manufacture and market weighing scales in different ranges. The weighing scales are offered to market segments like laboratory and analytical, gold and carat and industrial weighing scales, a release said
GMDC pays dividend: Gujarat Mineral Development Corporation (GMDC) chairman Mukesh Zaveri has paid a cheque of Rs 12.95 crore to Gujarat chief ministerKeshubhai Patel as its dividend for 1997-98 to the state government. After divesting 26 per cent of its equity stake to 20,000-odd shareholders during its maiden public issue in September last year, the company increased its dividend to 45 per cent last fiscal. It had maintained a dividend of 30 per cent for the past several years. GMDC earned a net profit of Rs 85.70 crore last year, a 20 per cent increase over the previous year's Rs 71.10 crore.
Planetasia to assist Internet service providers: Planetasia, Microland's Internet spinoff, will be working with Internet service providers to assist them with their operations, according to Microland chairman and managing director Pradeep Kar. At a media briefing to kick off Microland's annual technology forum, Connectivity India '98 (CI '98), that gets under way at the Indian Institute of Science in Bangalore on Thursday, he said the ISP policy to be unveiled this week will enable companies to change the way they do business. "The electronic market placewill turn conventional market dynamics upside down," Kar said. The theme of CI '98 is `The Net Era - Enabling the Change'.
Apple Publishing website: Apple Publishing Technology Centre has launched its website www.aptc-india.com which runs on the latest shockwave technology for greater interaction and offers a variety of online services. With the help of shockwave technology, a series of players let the websurfer view high quality streaming content in the web browser. The macromedia shockwave makes the entire site including the animations, graphics, text and audio more dynamic and fast to unload.
Oberoi group goes online: The Oberoi group, on Tuesday, went online with the launch of its web site which provides information on all its hotels worldwide along with a range of business and travel information. Announcing this, Oberoi group president Ravi Bhoothalingam said the web site -- www.oberoihotels.com-- will be a "powerful medium for closer interaction with our guests". The site will takebrowsers through a visual tour of any Oberoi hotel through an interactive hotel-finder, a company official said. It will offer online reservation facilities with a confirmation number to the browser along with a direct e-mail facility which connects the browser to the individual hotel which responds to specific needs and queries.
Bagpiper Whisky posts 31% growth in Q1: Bagpiper Whisky has recorded a growth rate of 31 per cent for the first quarter of 1998. It has also crossed 5 million cases for the year 1997. Bagpiper, truly the millionaire brand of Herbertsons Ltd (of the UB Group) not only tops the entire liquor category in India but also the world's overall whisky market, a company release said.
Nescafe's new campaign: Nescafe, the world-renowned coffee brand from Nestle, has launched a new campaign titled `Open Up', in acknowledgment of the new internationalism in daily life. The coffee campaign will consist of a series of commercials that roll-out infinite possibilities in abarrier-free world, not just free of narrow domestic walls, but also free from barriers of thought. The campaign comes with a new uncluttered Nescafe identity, attractive new packaging and a set of coherent communication components which Nestle will gradually open-up in India.
DHL Worldwide enhances portfolio: DHL Worldwide Express, the world's first international air express company and global industry leader, has enhanced its portfolio of export-made-easy services by launching `USA First', a new improved air express service to the United States. `USA First' incorporates DHL's fully inclusive express pick-up, streamlined customs clearance and secure delivery service. All services are covered by one all-inclusive fee. It represents the re-engineering of DHL's business to serve the changing needs of exporters of the region in a better way. The new service is being launched in India from November 9, 1998.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.