TGIF plans 10 restaurants in 5 years
New Delhi: Thank God Its Friday, the well known Carlson group restaurant chain, will set up about 10 new outlets in India in the next five years. Three of these outlets will come up in the next six to eight months -- in Delhi, Mumbai and Bangalore.

Bistro Hospitality Ltd, a joint venture between Rajan Jetley and the Punj Lloyd group, is the master franchisee for the chain in India.Bistro Hospitality says it is targeting a turnover of Rs 100 crore during the five-year period with an investment of around Rs 50 crore.
Back to News Review index page

NIIT plans globalisation
Calcutta: Information technology company NIIT has unveiled its globalisation strategy. It aims to achieve growth in its overseas business through the launch of NIIT e-commerce based software products and solutions providers. Rajendra S. Pawar, managing director of NIIT, has conceived a plan by which each of NIIT's overseas operations will be a "local company with a global reach".

Mr Pawar has said NIIT will have directors on its board close to NIIT customers in important cities. Two of the five full-time directors of NIIT are now operating from outside India. NIIT has an eight-member board, including a chairman and two external directors. Gopal Chakravarthy, one of the directors, is posted in Europe and one of its founder and chief executive officer Vijay K. Thadani has moved base to Atlanta, USA.
Back to News Review index page

Promotional campaign by TI Cycles
Chennai: TI Cycles of India, a divison of Tube Investments of India is planning a promotional campaign to increase its market reach. It will spend Rs 7 crore for the campaign.

The campaign will be part of the company's month-long golden jubilee celebrations.
Back to News Review index page

FedEx facilities in Mumbai, Dubai win awards
Mumbai: Federal Express's facilities in Mumbai and Dubai have been given the worldwide FedEx Circle of Excellence award for their safe and efficient operations. The Dubai facility has won the award for the third time.

The award is given quarterly. It confirms the excellent quality of services and facilities available in FedEx's Mumbai and Dubai hubs.

FedEx's Around the World Flight, introduced in 1979, stops at Mumbaii and Dunbai en route from Paris to Bangkok and Subic Bay in the Philippines.
Back to News Review index page

Samsung sets up vendor help desk
New Delhi: Samsung India has set up a vendor development desk at its colour television facility at Noida. The centre will help vendors solve their problems related to Samsung, provide technical help for product and process upgradation, and familiarise the vendor with Samsung culture, philosophy, processes and procedures so that the company and its vendors can work in one direction, company officials said.

A meeting of the vendors was held on 24 August, when senior Samsung officials interacted with the vendors.
Back to News Review index page

ICO Global too files bankruptcy petition
New York: ICO Global Communications, which is building a global satellite communications network, filed for bankruptcy, becoming the second casualty in the satellite phone business. Iridium, another satellite mobile phone company, has already filed such a bankruptcy petition.

ICO filed the petition in order to get protection from its creditors as it felt it needed extra time to reorganise, recapitalise and complete its financing. ICO had failed to secure $600 million in financial commitments, and said it was seeking revised financing options. ICO's financial worries are to a certain extent caused by the failure of Iridium, analysts said.
Back to News Review index page

News Corp interested in Deutsche Telekom unit
New York: Rupert Murdoch's News Corporation has expressed interest in bidding for Deutsche Telekom's cable system.

Deutsche Telekom has stakes in nine different cable ventures. News Corp said German cable properties will fit "nicely with our intentions of moving into Europe".
Back to News Review index page