GE, Lilly sign pact for research

GE Global Research and GE Healthcare announced in Bangalore on Wednesday a three-year collaborative research agreement with Eli Lilly and Company to discover and develop advanced vitro diagnostic assays that may predict cancer treatment response to targeted therapies.

ICICI Pru Life’s biometric card

ICICI Prudential Life Insurance on Wednesday launched the biometric cards for their rural policyholders. It is the first life insurance company in India to provide this service to its rural customers, the company said in Mumbai.

The cards will enable policyholders to carry all their policy details without the hassle of carrying policy documents
for any policy related activity. 

CanBank lowers home loan rate

Canara Bank announced in Bangalore on Wednesday that it has reduced the rate of interest on housing loans by 50 basis points with effect from October 4, 2007 for all tenors and slabs on fresh loans.

The rate of interest for fresh housing loans upto Rs 20 lakh for repayment periods upto 5 years is 10.25 per cent, above 5 years upto 10 years is at 10.50 per cent and above 10 years upto 20 years at 10.75 per cent.

Thermax ties up for paper tech

Thermax Limited and Atlanta- based Georgia-Pacific Chemicals LLC have signed a technology and manufacturing licence agreement for performance enhancing chemicals, which find extensive applications in the paper industry.

Thermax made this announcement in Pune on Wednesday. The agreement will enable Thermax to expand its business in the paper industry in India and South East Asia. This technology agreement will enable Thermax to improve productivity, reducing raw material and production costs, and minimising plant downtime while enhancing quality and safety, claimed the company.

Jain is NMDC’s acting Chairman

NMDC Ltd, a leading iron-ore producer, on Wednesday named V K Jain as acting Chairman. Jain, 58, has taken over the position of B Ramesh Kumar.