Italian PM to visit IndiaMUMBAI -- The Italian Prime Minister, Prof Romano Prodi, who will arrive in India on a three-day visit on January six will inaugurate the representative office of the Indo-Italian Chamber of Commerce and Industry (IICCI) at Chennai on January seven. IICCI in conjunction with the special agencies of five Italian Chambers from Milan, Modena, Florence, Rome and Vicenza signed an agreement in Rome on July three to set up the ``Inditalia desk'' in the chamber's office in Chennai. The desk will act as a window to assist small and medium scale industries from the five Italian provinces and India to help their internationalisation, promote investment and opportunities for co-operation on both sides, said a release.
Redex launched
MUMBAI -- Redex brand of petrol and diesel additives along with a host of other internationally acclaimed car care products has been launched in India following an agreement between Sarbi Petroluem and Chemicals Ptd Ltd and Holts Lloyd UK. Sarbi
would process and market the Holts Lloyd range of auto care products in the country. Besides Redex, car owners in India will also have access to other oustanding brands from Holts Lloyd. These products will be available through HP and IBP distribution network.
Disha Power
MUMBAI -- Disha Power Systems, engaged in power conditioning industry has established an infrastrucutre to introduce a new concept -`total power solutions',a one shop for all power problems.The company designs, manufactures and market high quality range of power conditioning equipments.
Advertising Club
MUMBAI -- The Advertising Club, Madras will host an international convention on Advertising and Marketing in Chennai on January 19-20. The convention will be based on the book `Competing for the Future' co-authored by C K Prahalad of the University of Michigan and Gary Hamel of the London School of Economics. The meet will address vital issues such as global advertising trends, customers of the future and their needs,
competitors of the future and creativity to build brands in the future among others.
N Murali, joint managing director, The Hindu, and vice chairman of the convention committee said ``with the liberalisation of the Indian economy, it is absolutely imperative for us to keep abreast with global trends.''
UTI debt fund
MUMBAI -- Unit Trust of India (UTI) is contemplating the launch of its first open-ended debt fund. According to sources, the institution is considering such a scheme because the lack of an open-ended debt fund is the only gap in its family of funds.
All the existing debt schemes of UTI are close-ended ones. The only other `income' scheme of UTI which is open-ended is the popular US-64. But since US-64 has a strong equity portfolio as well, it is considered more of a balanced fund. So far, the Trust has been mopping up monies for its debt schemes through the monthly income plans which are fixed-tenure closed funds. It had earlier been felt that an open-ended debt fund might threaten
collections made by UTI's flagship scheme, US-64. However, it is now being felt that a pure open-ended debt fund will be another product in itself.
Besides, UTI is beginning to face a challenge from the private sector open-ended income funds with Birla Income Plus finding it difficult to reign in monies that never seem to stop coming. The corpus of Birla Income has already swollen to over Rs 500 crore in barely one year.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
