SyndBank ties up with FITCH 
Syndicate Bank on Tuesday signed an MoU with credit rating agency FITCH to rate SMEs. The MoU is signed to use the services of the bank and FITCH to complement support small and medium enterprises sector in India by making available to them comprehensive and reliable rating services to enhance credit acceptance.
   It will also make use of independent and objective opinion offered by rating agency for evaluating infrastructure, corporate and other loan exposures of the bank. FITCH will be extending concession in fee payable for cases referred by bank. 
RINL chief to head INSDAG
Executive Council of Institute for Steel Development & Growth (INSDAG), Kolkata, on Tuesday elected RINL CMD P K Bishnoi as its fourth President for the year 2007-08.  Mr Bishnoi assumed charge as RINL/VSP CMD on April 30, 2007.  He is a member of the Executive Board of Standing Conference of Public Enterprises (SCOPE). INSDAG was set up in 1996 with representation from RINL, SAIL, TISCO, Usha Ispat, JVSL, DCI&S and the Ministry of Steel.
Max to launch SPAR stores
Max Hypermarkets India announced on Tuesday that it has signed a licence agreement with SPAR International. Max Hypermarkets, promoted by the Dubai-based Landmark Group, plans to open seven new stores over the next twenty four months. The group plans on opening the first hypermarket (85,000 sq ft) and the first supermarket (28, 000 sq ft) in Bangalore next month. The first phase of investment will see Rs 200 crore into the seven facilities being set up in two years.  
Wipro to set up centre in Egypt
The Ministry of Communications and Information Technology of Egypt on Wednesday in Bangalore announced that Wipro will be setting up a global development centre in Smart Village in the country.
Wipro would be providing software development, integration and consulting services from this centre. Rajat Mathur, Chief Executive Business Solutions and Head of Middle East, APac Regions, said, “Wipro has focused on Middle East as a key region with localisation being a strategy for growth. Besides strengthening dominance in the region, the centre would give a thrust to Wipro’s Global Delivery Model.”
PGCIL’s IPO to raise Rs 580 cr
Power Grid Corporation of India Ltd (PGCIL) on Wednesday in Mumbai filed its red herring propectus with SEBI for its IPO to raise an estimated Rs 580 crore. PGCIL is the third central power utility to tap the capital market for raising funds this year.
   The government will piggyback on PGCIL IPO to divest five per cent of its stake. Power Grid is expected to mobilise up to Rs 580 crore It is raising funds from the market to part-finance its expenses. The IPO would constitute 10 per cent of the equity capital and government is divesting 5 per cent of its holding.
DLF to invest in Nagpur SEZ 
DLF on Wednesday in Nagpur announced it would invest up to Rs 1,700 crore on setting up an IT park here, first in a SEZ.
  The IT park would come up on a sprawling 8.5 million sq ft area in multi-modal international passenger and cargo hub (MIHAN) project in the city and create employment for about 50,000 people,  claimed the company. The company has already acquired 140 acres of land for the park, which is the 12th IT centre for DLF, which would take three years to complete.  
Tata Motors to pay Rs 1,000 cr
Tata Motors on Wednesday in Kolkata informed the Calcutta High Court that it would pay West Bengal Industrial Development Corporation (WBIDC) an amount in the region of Rs 1,000 crore in a phased manner for the Singur land lease of 90 years for its small car project. Stating that the land in Singur for the project was not gifted to the Tatas, their counsel S Pal produced before the court the deed of lease executed between WBIDC and Tata Motors Limited. The Tatas have to pay in the region of Rs 1000 crore in a phased manner to WBIDC.