MUMBAI: Automobile major Nissan on Saturday launched its luxury sedan 'Teana' here and said it expects to sell 350 cars in the country this fiscal. Teana would be imported from the company's Kyushu plant in Japan and is priced at Rs 20.67 lakh, Nissan India Director Neeraj Garg told reporters. He said the company would deliver the first 20 units to Leela group of hotels. In March, Nissan announced the setting up of a manufacturing facility in Chennai with Renault and Mahindra.
Sunday, April 29, 2007
Indian American named Small Business Person of the Year
NEW YORK: Indian American businessman Jay Reddy has received the State Small Business Person of the Year award in this year's Small Business Administration's (SBA) nationwide search. Virginia-based Reddy, Chairman and CEO of ProLogic, Inc., received the award April 24 at a glittering ceremony held in Washington. Reddy got the award for West Virginia. Reddy formed ProLogic, an IT firm, in 1995 and steadily built it into a successful business, providing quality software development, IT products and systems integration and engineering. With SBA's help, Reddy won several federal contracts leading to a 400 percent increase in employment and a 600 percent rise in revenues in the last four years, according to SBA.
Read more at Economic Times
ICICI Bank to raise Rs 20,000 cr in June
Biggest fund-raising by an Indian firm: Rs 15,000cr public offer, Rs 5,000cr ADR.
ICICI Bank, the country’s second largest bank, will raise Rs 20,000 crore in June this year - a combination of Rs 15,000 crore follow-on public offer in the domestic market and Rs 5,000 crore American Depository Receipts issue. This is the biggest-ever fund-raising plan by an Indian bank.
The bank will also consider exercising a greenshoe option, which could almost double the bank’s net worth of Rs 24,313 crore as on March 31, 2007.
Read more at Business Standard
Mittal richest person in UK for 3rd straight year
NRI Steel tycoon Lakshmi Mittal today for the third successive year topped the list of the richest person in Britain with a wealth of 19.250 billion pounds even as the Hinduja brothers and Lord Swraj Paul emerged as the second and third richest Asians in the UK.According to The Sunday Times Rich List 2007, 56-year-old Mittal, President and CEO of Arcelor Mittal - the world's largest steel producer, saw his wealth shoot up from 14.881 billion pounds in 2006 to 19.250 billion pounds this year, an increase of staggering 4.369 billion pounds in one year.The wealth of Sri Chand and Gopi Chand Hindujas, Chairman and President respectively of the Hinduja Group, registered a steep increase during the last one year - from 3.6 billion pounds to 6.2 billion pounds catapulting them to the position as the second richest Asians and fourth richest in the UK.Similarly, Lord Swraj Paul, founder-Chairman of the Caparo Group, also witnessed substantial growth during the year with the total wealth increasing from 465 million pounds to 1.5 billion pounds this year. The 76-year-old Lord Paul's wealth is almost five times that of Queen Elizabeth II, whose wealth has been estimated at 320 million pounds.
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