The Competition Commission of India has dismissed allegations that BMW India abused its dominant position related to replacement of tyres of luxury cars sold to customers. A complaint had alleged that BMW India abused its dominant position by forcing a 'run-flat tyre technology' on its customers and had misused the same to market an insurance policy through its subsidiary BMW India Financial Services. According to the complainant, these actions by BMW India had adversely affected the competition to sell insurance for cars.
L&T Construction bags orders worth R2,935 cr
L&T construction won new orders worth R2,935 crore across various business segments in February and March 2014. In the transportation infrastructure business, new orders worth R1,035 crore were won while the buildings and factories business bagged orders worth R562 crore. The water and renewable energy business secured orders worth R553 crore while the power transmission and distribution business won new orders worth R502 crore in domestic and international markets.
HCL Tech, UK co ink deal for payment solutions
Indias fourth-largest software services exporter will help UK-based government firm Student Loans Company (SLC) offer lending and payment services. HCL Great Britain, a subsidiary of HCL Technologies, will work with financial advisory services firm Deloitte and banking and management solutions provider Misys to provide an utomated, secure and streamlined customer experience across multiple channels, including digital.
Nokia launches Android smartphone X for R8,599
Finnish handset giant Nokia has launched its much-awaited Android-based smartphone 'X' in India for R8,599, aimed at protecting its turf in the fiercely competitive market. The company had announced the 'Nokia X' family of affordable smartphones, which run Google's Android apps, at the Mobile World Congress in Barcelona last month.The company had then said Nokia X+ is expected to be priced at 99 euros (about R8,400), Nokia XL at 109 euros (about R9,200) and Nokia X at 89 euros (about R7,500). It said it will bring X+ and XL to the Indian market in the next 60 days.
Uninor aims 100% growth in internet business
Telecom operator Uninor, Indian arm of Norwegian telecom firm Telenor, has said it expects to double its 2G mobile Internet business by end of this year with low-cost plans starting at 50 paise per hour. "We are now expanding strategy of Uninor from voice to Internet service. Also, we are moving out of volume-based Internet offering to service based. With news plans we are looking at both first user and mass market like students and other price sensitive segment," Uninor's nominated CEO Morten Karlsen Sorby said.
Aircel, Snapdeal tie up for data-enabled phones
Aircel has tied up with online marketplace Snapdeal to offer free data package to customers buying a data-enabled phone on the portal. The offer, 3GB of free 3G/2G data with a phone, will be valid for a period of three months, the two companies said in a joint statement. "... the intent of this partnership is to increase data penetration and usage amongst our user base, especially the youth," Aircel CMO Anupam Vasudev said.
Shasun, Sequent float JV for veterinary products
Shasun Pharmaceuticals on Friday announced that it had signed a joint venture agreement with another listed entity, Sequent Scientifi , to develop, manufacture and sell veterinary products, including both active pharmaceutical ingredients and formulations, to cater to global markets. The JV is expected to go onstream in the first quarter of the next fiscal. As part of the pact, Shasun will hold 27% while 73% will be held by Sequent Scientific.
HTC Global to work with RBI on data processing
IT firm HTC Global Services has said it will work with the Reserve Bank of India for developing an Export Data Processing and Management System (EDPMS). The BPO services provider also announced the launch of Export Data Interfacing Solution (EDIS) that enables banks to comply to the new EDPMS, announced by the RBI on February 28. EDIS is a cost-effective solution as it is developed on an open source platform, and is web based, the company said. "This new EDPMS developed by HTC, which was inaugurated by RBI governor Raghuram Rajan, is mandatory for all banks to conform to, without exception," HTC Global said.
Firefox, Warner Bros launch bike range
Firefox Bikes, in association with Warner Bros, launched in India a range of bicycles for children, aiming at selling over 10,000 company-branded bikes this year. Seven bikes, priced up to R7,520, will be designed based on various cartoon characters Superman, Batman, Tom & Jerry and so
on and will be available across the company's 150 outlets across the country.