BHARTI is in talks with Bank of india to sell its 25% stake in domestic asset management JV with AXA investment Managers.
The AXA group owns 75% on the mutual fund venture with assets under management of Rs. 510 crore.
IOC hikes petrol by 72 paise a litre
The nation's largest fuel retailer, today hiked petrol prices by 72 paise a litre effective midnight tonight.
IOC sources said after the hike, petrol in Delhi will cost Rs 52.55 a litre and the rate in other cities will vary depending on local taxes and levies.
Ericsson, NSN bag vodafone 3G deal
Sweden’s Ericsson and Finland Nokia will roll out 3G network for Vodafone Essar.
Vodafone gave them 3 year contract estimated to be $500 million.
Nokia Siemens will supply, implement and manage vodafones 3G network in Tamil Nadu, Gujarat, Maharastra, UP,WB and Haryana while Ericsson will cover metros Delhi, Mumbai and Kolkatta
Insurance policies to be available at post offices
Post offices can now distribute insurance products with IRDA.
Department of Post (DOP) has divided the whole country into 22 postal circles for providing postal services.
IRDA allowed each circle to tie up with two non-life insurance companies, two life insurance companies, one agricultural insurance company and one stand alone Health Insurance Company for this purpose.
Carlson mulls buying stake in hotel projects
CARLSON hotels worldwide may pick a minority equity stake in some hotel projects being built by local developers that will operate under its mid segment brands in India.
Its planning to open 69 hotels in country by 2015, out of 250 planned across the world.
Presently its operating 31 hotles across all its brands in india