Corporate Notes

Written by fe Bureau | Updated: Dec 30 2009, 04:05am hrs
Bharti Airtel starts Middle East network

Bharti Airtel, the countrys number one mobile operator on Monday said it has started operations from its Middle East Connect network to offer wholesale data services to telecom carriers in the region. The company said over the last two quarters it added over 17 gigabytes per second (GBPS) capacity to the region.

Firefoxs Rs 2.4 lakh bike

At a time when Indians are still drooling over Tata's Rs 1-lakh wonder Nano, a bicycle from Firefox, costing more than two times the small car will make its debut at the upcoming Auto Expo. Leisure bike maker Firefox will be displaying the bicycle model, Trek Equinox TTX 9.8 SSL, which will be available at a market price of Rs 2.4 lakh. "As the country grows and develops, Firefox endeavours to transform the traditional image of cycling into a fun and adventurous sport. We are elated to introduce Equinox TTX 9.8 SSL of Trek bikes and theres no better platform than Auto Expo to showcase this bike," Firefox Bikes MD Shiv Inder Singh said.

Escorts back in the black

Auto maker Escorts, on Monday, reported a net profit of Rs 60.03 crore for the quarter ended September 30 as against a net loss of Rs 1.18 crore in the corresponding quarter of the last financial year. The companys net sales for the fourth quarter increased 12.12% at Rs 611.34 crore as compared to Rs 545.26 crore in the year-ago period.

PNB upbeat on credit growth

Punjab National Bank on Tuesday said it expects to achieve 18% credit growth, in line with the RBIs projection, in the current financial year despite tepid demand from the farm sector.

Colgates factory strike

Colgate Palmolive on Monday said production at its Aurangabad factory has been disrupted as workers have gone on strike since Saturday. The workmen in our Aurangabad toothpowder factory have gone on strike effective December 26, primarily on the ground that the management should reinstate the services of two workmen, who were dismissed on disciplinary grounds...," the company said.

Hyundai eyes electric car

In order to take on the mounting competition from both domestic as well as multinational auto majors and keeping in line with its major focus on environmentally-clean technologies, Hyundai Motor India Ltd (HMIL) will unveil the electric version of its immensely popular compact car - i10 - which had made its world debut at New Delhi in October 2007. The car will be unveiled at the forthcoming Auto Expo 2010 at New Delhi.

Zen Mobiles new CEO

Mobile handset manufacturer and part of the Teleecare group, Zen Mobiles on Monday announced the appointment of Vaibhav Shastri as its CEO. rior to this Shastri was heading the Mobile business unit in wireless telecommunication firm Micromax, a company release said.

Luminous Tech appointment

Luminous Power Technologies has appointed Sushil Matey as president sales and marketing. "Matey's appointment will help drive our growth through the next expansion phase and significantly enhance the company's presence in the growing power technology business," Luminous founder Rakesh Malhotra, said.