MRPL and Shell inks aviation fuel JV

Mangalore Refinery and Petrochemicals Limited (MRPL), an ONGC group company, on Tuesday signed a joint venture agreement with Shell. The JV, with initial equity of Rs 30 crore, will have head office in Bangalore. MRPL and Shell will route all their future marketing activities for aviation fuelling service through the JV. The JV will initially commence marketing of ATF at Bangalore and Hyderabad, and later expand its operations to other airports in India. It will refuel foreign aircrafts in Indian airports and will also contract refuelling of Indian aircrafts at foreign airports through Shell affiliates. The agreement was signed by MRPL M D R Rajamani and Shell’s VP Aviation Sjoerd Post in New Delhi.

IBM’s new global delivery centre 

IBM on Tuesday announced the inauguration of its new global delivery centre in Noida, Uttar Pradesh. This is IBM Global Business Services’ first such centre in Noida; and, in the second phase of the expansion IBM will open another centre in the vicinity, which is expected to be fully operational by mid-2008. Both the centres will house close to 3,000 employees once fully staffed. 

Wockhardt IPO extended by two days

Initial public offer of Wockhardt Hospitals, which was scheduled to close on Tuesday, has been extended by two days. The IPO would now close on February 7, according to information available on the NSE. The issue, which opened on February 1, was scheduled to close on February 5. The company had even cut its price band to Rs 225-260 per equity share from Rs 280-310 earlier.

Doraisamy is new MD for HP Asia Pacific

HP on Tuesday announced in Singapore that Balu Doraisamy has been appointed as the Managing Director for Asia Pacific Japan and Senior Vice President for the Technology Solutions Group (TSG). Mr Balu succeeds Tom Iannotti who has returned to the USA to assume the role of Managing Director, Americas. 

Indian Angel Network invests in Viedea Cap

Indian Angel Network (IAN) announced in Bangalore on Tuesday an investment into Viedea Capital Advisors, a Bangalore based boutique investment bank focused on early and growth stage companies. IAN is the first pan-India Angel network, which has made around 10 investments in the last 20 months across multiple sectors.

SKS Microfinance ties up with five IT majors

SKS microfinance, a major microfinance company, on Monday said in Bangalore that it is partnering with five IT majors - HCL Infosystems, Compulink, Microsoft, Tulip IT and Wipro Infotech for its various IT Infrastructure requirements. The new infrastructure will help SKS achieve its expansion plans to reach nearly 1500 branches serving 40 lakh poor households by March 2009, from the current base of 650 branches serving 17 lakh poor households.

Bank of Maharashtra net profit up 35 pc

Bank of Maharashtra recently announced 35 per cent increase in net profit at Rs 100.38 crore for the December 2007 quarter, compared to Rs 74.32 crore previous year. Total income increased by 29 per cent to  Rs 985.97 crore from Rs 765.3 crore. The Bank earned Rs 905.7 crore in interest in Q3.

Hughes, Comat tie- up for broadband kiosks

Hughes India on Tuesday announced the signing of a contract with Comat Technologies to supply 10,000 broadband satellite terminals, together with its nationwide HughesNet satellite services and applications to be delivered at rural business centres across multiple states in India.

Leadership workshop in City on February 16

Dream A Dream, a non-profit organisation working to empower children from vulnerable backgrounds and I Think I Have A Solution (ITIHAS), a non-profit consulting and service organisation, in association with Vivek Mansingh, Country Manager for Dell India’s R&D Centre, are presenting “Leadership for Organisational and Personal Success” for aspiring business managers and leaders to held in Bangalore on February 16, 2008. For more information call:  98455 24118.