NATIONAL Birla Sunlife acquires India MF schemes of Alliance Continuing with the trend of consolidation in the mutual fund (MF) industry, Birla Sun Life Asset Management Company Ltd (Birla Mutual Fund) has acquired the rights to manage Indian MF assets of Alliance Capital Mutual Fund, subject to regulatory approvals.
LIC policyholders may not have to pay Service Tax LIC policyholders may not have to pay the Service Tax at least this year, as the public-sector insurance company could absorb the additional tax burden.
Sonata Software sets up its subsidiary in Germany IT services firm Sonata Software today (Oct 18, 2004) said it has set up its subsidiary in Germany with an aim to consolidate its presence in the European Union and capture the market in German and West European markets.
Simputers to strike the Indian village in a big way 'Simputers', simple computers designed for suburban and rural use, are likely to make a mass debut soon with the Ministry for Statistics and Programme Implementation planning to equip field workers with them to speed up data compilation from household surveys.
'Scandent' to commission a 'SWIFT service Bureau' IT and BPO services firm Scandent Solutions today (Oct 18, 2004) said it would soon commission a "SWIFT service Bureau", claimed to be the first in the country.
MindTree signs up with US based Magic Software IT services firm MindTree Consulting today (Oct 18, 2004) said it has signed up with American software firm Magic Software Services to offer Magic's business integration solutions to its customers.
IRDA for hike in FDI cap, changes in insurance Acts Insurance regulator Insurance Regulatory and Development Authority (IRDA) today (Oct 18, 2004) pitched for a hike in foreign direct investment (FDI) cap from 26 to 49 per cent and amendments in legislations to enable greater flexibility in investment, as part of efforts to sustain high growth in insurance sector.
LogicaCMG to increase headcount by 1,500 by 2005 Bangalore-based IT company LogicaCMG would increase its headcount by 1,500 at its offshore service centre by 2005 end, even as it was eyeing to garner about 50 per cent of the $ 20 million Anti-Money Laundering (AML) solutions market in the next three years.
