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Corporate | Shree Cement to begin power trading unit

Corporate | Shree Cement to begin power trading unit
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First Published: Wed, Mar 24 2010. 10 25 PM IST
Updated: Wed, Mar 24 2010. 10 25 PM IST
Melbourne:In a email statement sent on Wednesday, Shree Cement Ltd said it will start a power trading unit in India.
--Bloomberg
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Underwriters Lab sets up facility in Bangalore
Bangalore: Product safety testing and certification firm Underwriters Laboratories Inc. (UL) has set up a $6 million (Rs27.3 crore) test facility in Bangalore that will service manufacturers in India and the Asian region. “Given the projected growth of the Indian electrical industry for the next decade, Underwriters Laboratories is proud to strengthen its Indian footprint as we strive to provide the best in certification and testing, industry-oriented research and technology development,” said UL president and chief executive Keith Williams.
--A Staff Writer
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CIL likely to form JV for urea, ammonium nitrate
Kolkata: State-owned coal miner Coal India Ltd (CIL) is likely going to form a joint venture (JV) company with two other public sector firms, GAIL (India) Ltd and Rashtriya Chemicals and Fertilizers Ltd (RCF) to produce urea and ammonium nitrate, an explosive, from coal gas.
The three firms would hold 33.3% stake each in the JV company, CIL’s chairman Partha S. Bhattacharyyasaid in Kolkata on Thursday.
--Shutapa Paul
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Infosys to review employee rating system
Banglaore: India’s second largest software exporter, Infosys Technologies Ltd has set up an internal committee to review its employee appraisal system, iRace, confirmed a company spokesperon without giving any further details as the company is in a silent period in the run up to its annual results to be announced on 13 April. ‘DNA’ newspaper had reported this on 24 March. iRace or Infosys Role and Career Enhancement, which was rolled out in a step-by-step manner starting May 2008, led to some employee dissatisfaction following some demotions. The company has also been facing rising attrition partially due to the new review system and the improving job market.
--Staff Writer
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Icra arm, Swift to launch payment gateway
MUMBAI:Icra Online Ltd (Icron), an arm of credit rating firm Icra Ltd and SWIFT, or Society for Worldwide Interbank Financial Telecommunication, on Wednesday signed an agreement to set up a payment gateway for mutual fund and insurance transactions. The facility, which is expected to be operational by end of this year, will enable both institutional transactions as well as individuals.
--N. Sundaresha Subramanian
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First Published: Wed, Mar 24 2010. 10 25 PM IST