| Hyundai
Motor to invest $200-250m in its Chennai facility
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South Korean major,
Hyundai Motor India (HMIL) plans to invest $200-250m
to increase production at its Chennai facility by
60% to 20,000 units per month, to meet the growing
demand for its models. The Indian unit, the largest
operation of HMC, would play a vital role in the
drive to become on of the world’s top five
automakers. |
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Marriott International Inc, plans expansion of Call
Centre operations in India |
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Marriott International
Inc, the Washington headquartered hospitality chain
is looking at expanding its call centre operations
in India. Marriott is a leading worldwide hospitality
company with over 2,600 lodging properties in the
United States and 68 other countries and territories. |
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| Nike
Inc. to set up a subsidiary in India |
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Global footwear
major Nike Inc. the $13bn sports and footwear company
will set up the much awaited wholly owned subsidiary
in the country. Nike is eager to set up its own
operations in the country, given the boom in consumer
spending and changing lifestyle of the average Indian. |
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| Swiss
UBS to set up a BPO in India |
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Swiss investment
bank and securities firm UBS is planning to set
up a business process outsourcing (BPO) operation
in India. UBS is one of the largest banks in Europe
offers investment banking, securities and asset
management services. |
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| India-
next export hub for AC-maker Hitachi |
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Hitachi Home &
Life Solutions, the air-conditioner (AC) maker,
is planning to make India an export hub for its
window and split AC units. The company has set a
target of 20,000 units for the next financial year,
up from 10,000 units this fiscal. |
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| World
Bank to explore back office processing options in
Chennai |
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The World Bank recently
announced that it is exploring the possibilities
of expanding its back office processing work in
Chennai from basic processing to value-added work.
It would be soon moving its own premise, spread
over 60,000 sq ft from the current rented premises
of 27,000 sq ft in the city. The bank decides to
move the analytical work in bond valuation to India,
it would be first time in the history of the bank
to move the work place outside its headquarters
in Washington DC. The size of the bank’s commercial
bonds portfolio is estimated at $100 billion. |
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| Faber
Spa increases equity stake in Indian Subsidiary-
Faber Heatkraft |
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Faber Spa is increasing
its equity stake in its Indian subsidiary Faber
Heatkraft Industries from 51% to 75%. The Italian
kitchen appliance maker is increasing its holding
by buying out the equity stake of majority share
holders. The company had also recently set up its
first exclusive Scavolini Galleria in New Delhi
and had disclosed plans to open 22 showrooms in
major cities. |
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