MUMBAI -- Iridium India Telecom Ltd (IITL) has entered into an alliance with World 1 Network, a consortium of 10 cellular operators in the country, wherein the World 1 partners will offer the entire range of Iridium services in their areas. This agreement will also enable World 1 members to offer their subscribers the benefit worldwide roaming using a single phone with a single number and single billing system.

According to Jaydev H Raja, managing director, IITL, the objective of such an alliance was to maximise the penetration of Iridium's range of services in the wireless communications market. "As the cellular operators have already established that market in the country, it is best for us to work with them," he said.

However, IITL has decided not to restrict itself to the partners of World 1 consortium. In addition to the 10 cellular companies of the World 1 alliance, the company has already tied up with three more cellular operators in the country for marketingits full range of services and offering global roaming services to their subscribers.

Indian Bank MF

MUMBAI -- The board of trustee of Indian Bank Mutual fund has declared a dividend of 14.75 per cent for 1996-97 and 15.25 per cent for 1997-98 respectively in respect of Ind Jyothi scheme which was redeemed on March 31, 1998.

The units are redeemed at net asset value (NAV) of Rs 8.54 per unit under plan A and at NAV of Rs 20.02 per unit under Plan B. Hence, an unitholder under plan A would now receive Rs 11.54 per unit (Rs 8.54 + Rs 3) and under plan B Rs 27.63 per unit (Rs 20.02 + Rs 7.61) respectively.

Samsonite India

MUMBAI -- The Indian subsidiary of world's leading luggage case manufacturer, Samsonite India Ltd, has chalked out a Rs 80 crore expansion programme to cater to South Asian and Middle East markets. The company plans to double capacity at the Nasik plant of Samsonite, which has a capacity to manufacture five lakh units annually.

The Nasik plant, set up at a cost of Rs80 crore, was recently inaugurated by Luc Van Nevel, president, Samsonite Corporation. The company had earmarked 60 per cent of its production in the next two years for exports. Samsonite would be selling half of its production in the domestic market.

Zenith Computers

MUMBAI -- Zenith Computers has become the third largest vendor of desktops among Indian brands after HCL and Wipro Acer, according to IDC figures. At a press conference on Thursday, Raj Saraf, CEO of the company, also announced the launch of a PC targetted exclusively at the home. Called the Zenith Home PC, this the first time the company has focussed on this segment after postioning its "One-up PC" at small business and corporate users. In the coming months, the Home PC will come with options for TV and FM radio.

Licensing Plus

NEW DELHI -- Pioneering the concept of licensing international brands in India, LeeWalsh Licensing Pty Ltd of Australia and Exsin India Pvt Ltd have entered into a 60:40 joint venture. The newcompany Licensing Plus (India) will be the first licensing company of its kind in India.

The company has already got approval from the Reserve Bank of India for bringing in foreign equity, while the FIPB approval is awaited. At the launch of the company, G P Singh, director, Licensing Plus said "we plan to make available the world best brands for an Indian customer in India." The company plans to launch several high profile, international brands like Beverly Hills Polo Club, Hang Ten, and Gasoline among others.