SSI, a venture promoted by K.S. Suresh and K.S. Ganesh, has also set up a software development unit at an initial investment of Rs 23 crore. The unit will focus on delivering component technology for software products in areas like banking insurance, telecom and healthcare. 

SSI has recently acquired 80 per cent holding in 3^rd Agenda, an Internet solutions company.
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Corsa at Rs 5.35 lakh
New Delhi: General Motors India has announced that it will price the base version of its latest product, the 1.4-litre Opel Corsa GL, at Rs 5.35 lakh, thus taking on Hyundai, which had announced its Accent at the same price. Now, Ford Indias Ikon is the lowest priced car in the midsize segment with a tag of Rs 4.99 lakh for the base version.

Corsa will be available in two other versions 1.4-litre GLS and the 1.6-litre GLS, costing Rs 5.85 lakh and Rs 6.13 lakh respectively. The prices are ex-showroom, Delhi. The base version will have air-conditioning, central locking and remote fuel and trunk opening facilities.

General Motors India will start accepting orders from 7 February and deliveries will start in the first week of March 2000. The Indian version of Corsa is based on the European version with adaptations including a strengthened suspension, gas-filled shock absorbers and increased ground clearance. 
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M&M to upgrade Armada
Mumbai: The present models of Armada from the Mahindra and Mahindra stable, Armada and Armada Grand, will be replaced by a new look and trendier Armada LX and Armada Grand LX. These vehicles will also sport the new M&M logo. The Armada Grand LX will be available in both two-wheel and four-wheel options. The two-wheeler version will have a double wishbone independent front suspension and radial tyres and a 2.5-litre Euro II compliant diesel engine, besides other features to improve efficiency. The Armada LX will have a 2.1-litre engine. 

The production of the new models will begin in April 2000.
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LML plans 8 new models
Kanpur: Scooter company LML is launching eight new two-wheeler models and upgrading all its existing models by the end of 2000-2001. The company is investing Rs 120 crore for this purpose. It will also enter the motorcycle segment in March 2000.

Deepak Singhania, managing director of the company, said after the termination of the joint venture agreement with Piaggio, the company has initiated a restructuring exercise for its industrial, organisational and supply chain. It is also exploring the viability of spinning off its industrial electronics division into a separate company.
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Billboard to be brought to India
New Delhi: Singapore-based Seagram Asia-Pacifics head Ramesh Vangal is endeavoring to bring in US-based entertainment and media company Billboard into India. He is also toying with the idea of a joint venture to make a US venture capital fund to invest $200 million in India.

Billboards most popular product is the Billboard ranking for popular music. 

Mr Vangal said the venture capital fund will invest in Indian Internet start-ups that focus on technologies to connect consumers of various products.
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Nimbus plans JV with IDBI
Mumbai: Television software maker, Nimbus Communications, is planning a joint venture with Industrial Development Bank of India to set up internet entertainment and e-commerce portals. This will be part of the companys Rs 200 crore expansion plan, which consists of two new satellite channels and new TV program production facilities, besides the portals. The company is launching a new channel, Showbiz TV, which will be a cinema and entertainment-related news and features channel. The other channel will be for women.
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Apollo cuts radial tyre prices
New Delhi: Apollo Tyres has effected a 25 per cent reduction in the prices of its new generation radial tyres for passenger vehicles. The price of this range will now be on par with that of cross-ply tyres.  The company feels the price cut will redefine the price-value equation in the Indian tyre industry and provide a major boost for use of radial tyres for passenger vehicles.  The company will also introduce new categories of radial tyres for passenger and commercial vehicles.  The tyres for passenger vehicles will be under the Amazer XL brand.

 After the price cut, the price of an Apollo radial tyre for Maruti 800 cars has come down from Rs 1,450 to Rs 1,175.
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Delphi sets up spare parts division
New Delhi: Delphi Automotive Systems has set up a spare parts division in India. The unit will supply OEM parts in the local spare parts market. Delphi has four factories in India producing a number of auto components, including car components like shock absorbers, thermal systems and air-conditioning components.

Delphi said India is the first country in the Asia-Pacific region where it has launched its spare parts division. It will not set up similar facilities in China and Australia.
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In Cablenet to set up JV for Internet service
Mumbai: The Hindujas-owned In Cablenet and a US-based Internet service provider are setting up a joint venture to offer Internet through cable TV in India. In Cablenet will have 51 per cent holding in the initial Rs one crore capital of the new company, IndusInd Distribution, while the US partner will bring the balance. More capital will be infused at a later date.

The service is proposed to be launched in Mumbai and eight other centres. The service will be priced very competitively, In Cable sources said.
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Srico ties up with Belgian, US companies
Hyderabad: Srico Systems (India) has concluded strategic alliance pacts with World Telecom Labs of Belgium and Cook Systems International of the US for developing telecom software and Internet-based solutions. A memorandum of understanding signed with World Telecom Labs enables Srico to develop software and market the formers products. Cook Systems is a leader in cutting edge solutions for web-based communications platforms, e-commerce and ERP solutions. The agreement with Cook Systems will help Srico to develop web-based solutions.
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America Online buys Time Warner
New York: Internet services provider, America Online, is buying media company Time Warner in a $190 billion stock deal, which is described as the worlds largest takeover ever. The deal will see the creation of a conglomerate whose reach will extend from magazines and movies into information technology and cyberspace commerce. The synergy, according to analysts, will determine, in the years to come, how people will communicate, how they will be entertained and informed. The biggest deal as of date has been that of the merger between MCI WorldCom with Sprint at $115 billion.

The unified entity will have America Online chief executive Steve Case as chairman, while Time Warner chairman and chief executive Gerald Levin will be the chief executive.
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IBM plans to adopt Linux software
New York: International Business Machines is likely to make Linux as its centerpiece for computer hardware strategy. Senior officials of the company have announced that major IBM products will be made Linux-ready. The company is setting up a new unit for the purpose, which will have responsibility for all Unix and Linux software efforts, for advanced computer designs and for bringing together IBMs next generation Internet strategy.

US newspapers said the company is also likely to set up a Linux operation centre in India, as the company feels India has become a hotbed of Linux development.
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Mannesmann evolves defence against Vodafone bid
London: Mannesmann will argue that the hostile bid by Vodafone AirTouch undervalues it by as much as 50 per cent, London newspapers said. Mannesmann is valuing its shares at about 350 euros, against the Vodafone offer of 245 euros per shares. The company is to file a defence document on these lines, the papers said.
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