SEBI issues note on 7 new F&O products
Merck inks pact with HCL Tech
HCL Technologies Ltd, a leading global IT services company, on Tuesday, announced a multi-year, multi-service agreement with Merck & Co., Inc., expanding upon the existing relationship that began in 2004. Under the terms of the new deal, HCL will provide strategic support to Merck’s key IT initiatives.
“Merck has embarked on a journey to leverage global delivery services to meet its business imperatives. We have chosen HCL as a strategic partner on this journey for its depth of technology and domain experience, coupled with its flexibility to engage and a commitment to deliver,” stated Richard Branton, Vice President, Merck Global Technology Services.
“We are delighted to take our partnership with Merck to the next level,” stated Shami Khorana, President, HCL America.
“We are confident this expanded relationship is a game changing move for both companies, as well as for the industry,” Mr Khorana added.
Securities and Exchange Board of India (SEBI) on Monday put out a note on the proposed plan to introduce new products in the derivatives segment on its website to seek comments or suggestions on or before December 21, 2007, in Mumbai. Sebi is planning to introduce as many as seven new futures & options (F&O) products. They are: mini contracts in equity indices, options contracts with longer life/tenure, volatility index and F&O contracts, options on futures, bond index and F&O contracts, exchange-traded currency (foreign exchange) F&O contracts and lastly, exchange-traded products to cater to different investment strategies.
Royal Orchid acquires hotel in Tanzania
Royal Orchid Hotels Limited (ROHL) on Tuesday announced in Mumbai the acquisition of a 30-acre property in the Dar Es Salaam in Tanzania through a buy-out route, reports DHNS from Mumbai.
Addressing a press conference here, its CMD Chender Baljee said the acquisition was made through a buy out of the company ‘Multi Hotels’ which previously owned the property in the capital city of Tanzania. ROHL plans an investment of $25 million in this establishment expected to start operations in 2010, he said.
SCOPE, IOL organise interactive workshop
Standing Conference for Public Enterprises (SCOPE) in association with International Organisation (ILO) on Tuesday organised a one-day interactive workshop on “Managing Change and Adapting to Competitive Business Environment” in Bangalore. Delivering the keynote address, Bharat Earth Movers Ltd CMD V R S Natarajan talked about the changing global business scenario and its impact on enterprises.
Tata Indicom’s new “49p/minute” scheme
Tata Teleservices Ltd, on Tuesday announced the Go Special - starter pack with special STV tariffs for customers in Karnataka, Kerala, Tamil Nadu, Chennai and Gujarat. The starter pack with a rental of Rs 199 comes with a talktime of Rs 2 and 1 year validity. Subscribers can enjoy the benefits of this plan as long as Re 1 is debited from their account on a daily basis. The starter pack provides customers with special call package where local to Tata phones will be Re 0.39 per min during the day and Re 0.09 per min during the night, local to all other mobiles at Re 0.49 per minute and local to fixed phones at Re 0.99, STD calls at Rs 2.49 per minute and SMS Re 1 (local). The special pack will be made available on a range of feature rich handsets starting at Rs 799.
Rapaport acquires stake in The Art of Jewellery
The Rapaport Group officially announced on Tuesday that it has acquired a 50 per cent stake in India’s Jewellry magazine, The Art of Jewellery. Through the publication, the company provides well-researched timely editorial content while also engaging in exhibitions and top industry events throughout India, said a release. Through its association with Rapaport, The Art of Jewellery will be able to penetrate new markets throughout India and rapidly expand its reach., it added.
