Airbus to Invest $1 Billion in India in 10 Years – Aircraft maker Airbus Industrie on Tuesday said it plans to invest $1 billion over the next decade in India to carry out a large part of its engineering and IT activities. It also plans to have a manufacturing base. The company projected an expenditure of about $1 billion in India over the next 10 years if it found the right partners and the right projects as part of its globalisation plans. The Airbus engineering centre at Bangalore is already developing advanced capabilities in areas like flight management systems, aero dynamics and digital simulation. (LiveMint.com)
ICICI Bank Hits Bond Market to Raise Rs 1,200 Crore – ICICI Bank, the country’s second-largest lender, has hit the market with a Rs 1,200 crore bond issue, which is said to be one of the largest in recent times. A few others, especially public sector banks, have been in the market to raise money through bond issues in the past few weeks. ICICI Bank’s tier-II issue will have an annual interest rate of 9.95%, which will be stepped by 50 basis points to 10.45% after 10 years. The bond will have a tenure of 15 years with a ‘call’ option after 10 years. The decision to come out with such a large issue came as a surprise, as its capital adequacy ratio (CAR) by end-December was at 15.6%. Most of the bonds are likely to be placed with Life Insurance Corporation of India (LIC). The issue, which opened on Tuesday, will close on Wednesday. (The Economic Times)
Swiss Telecom Firm ByCell Takes FIPB and DoT to Court – Switzerland registered telecom company ByCell, promoted by Russian-based businessmen, has dragged the Foreign Investment Promotion Board (FIPB), the government body that clears foreign investment proposals in India, and the Department of Telecom (DoT) to court over the government’s failure to grant the company licenses to launch mobile operations. ByCell filed a petition in the Delhi HC on Tuesday. According to ByCell, despite approving its application, collecting payments and bank guarantees and even issuing Letters of Intent (LoIs) for mobile services in early 2008, the DoT has held back the licenses citing security reasons. (The Economic Times)
Surya Pharmaceutical to Enter Healthcare Retail, to Raise Rs 250 Crore – Chandigarh based Surya Pharmaceutical Limited plans to set up over 500 healthcare and pharma retail stores under the brand Viva in the next three years. Of this, 100 stores would come up in Delhi and in the National Capital Region by March 2010. The company would invest around Rs 250 crore in the proposed venture. It would raise the amount through a combination of promoters, equity, venture capital, private equity and borrowings from banks. The company would also soon launch a chain of chemist and wellness outlets in north India under the Viva brand and expand to other parts in the next 3 years. (Business Standard)
Flytxt Eyes 3 More Deals From Indian Telecom Market – Flytxt, the Netherlands-based technology provider for mobile marketing, is focusing on capturing more business from the Indian market. The company has a global development centre at Technopark in Thiruvananthapuram. The closely-held Dutch firm is currently in talks with all the major mobile carriers in India to offer its flagship product – Neon – a fully-integrated mobile marketing platform that helps large operators and other service providers conduct large-scale mobile consumer engagement programmes. The firm is in talks with a few operators in India and expects to bag at least 3 deals in this calendar year. (Business Standard)
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