Two IAF combat aircraft collide

Two Indian Air Force combat aircraft collided on Wednesday on a runway at Srinagar airport, a defence spokesman and police said. "According to early reports, two MiG-27 planes collided with each other at Srinagar air force airport. One pilot was killed, details are awaited," a police spokesman said.

SC quashes order against Colgate

The ring of protection is back for Colgate-Palmolive. The company on Wednesday received a shot in the arm when the Supreme Court set aside an MRTPC order restraining the company from using the "suraksha chakra" in its toothpaste advertisements. MRTPC had last year acted upon rival Hindustan Lever's complaint that Colgate's punch line was misleading the consumers, which amounted to unfair trade practices.

Sonia files nomination from Bellary

it's now official. Congress president Sonia Gandhi has filed her noomination for the forthcoming Lok Sabha elections from the good-luck constituency Bellary in Karnataka. Sonia will face the BJP's Sushma Swaraj.

Essar Shipping to phase out ships

In a bid to capitalisse on global trade opportunities, Essar Shipping will phase out it's old ships, including seven bulk carriers and offshore supply vessles. According to managing director, BS Kumar, small vessels are becoming irrelevant in the era of globalisation, and better returns are assured through the use of large cape-sized vessles.

Nicholas Piramal, Norton tie up

Nicholas Piramal and the UK-based Norton Healthcare have tied up to develop three formulations set to go off patent by 2000. The products fall under the anti-infectives, anti-allergics and central nervous system segments. Norton is the UK-based subsidiary of Ivax Corporation of the US.

Videocon plans outfits abroad

Consumer electronics major Videocon, in a bid to bolster its global presence, plans to set up manufacturing and marketing outfits in the Asia Pacific, Middle-East and South Africa. The company is expected to be accomplish this mainly through acquisitions.

Bhel, GE in talks

The public-sector engineering and manufacturing giant Bhel is in the final stages of talks with General Electric for a complete range of joint product development in the transportation sector. A senior official said that an MoU is likely to be signed soon with GE Transportation Syatems, a GE division.

ICICI to enter credit card business

Financial institution ICICI plans to enter the credit card business early next year, a senior company official said on Wednesday. "Low penetration of credit cards offers significant potential for ICICI. We will enter this business some time early next year," Lalita Gupte, joint managing director Lalita Gupte said.