Corporate Moves

BPL Mobile has entered into a tie-up with the Dubai-based Emke Group for the promotion of Mobile-On-The-Spot (MOTS) pre-paid cards in UAE and Qatar.

Cyberspace Ltd has acquired a US-based software company, UII Inc in a 30:70 cash-and-stock deal worth $6.23 million.

The Dabur Group has signed a memorandum of understanding (MoU) with the UK insurance major, CGU plc for its foray into the domestic life insurance sector.

The Dalmias of Renaissance Estates Ltd (REL) have sold their block of over 30 lakh shares or 10.5 per cent of Gesco Corporation to Mahindra Realty and Infrastructure Developers Ltd (MRIDL) at Rs 54 per share, thereby ending their bid to gain control of Gesco Corporation.

Hughes Software Systems has announced that it is setting up a dedicated development facility at Gurgaon for developing software for the next generation access infrastructure.

ICICI Capital Services has formed a pact with New India Co-operative Bank , where the latter will market the complete range of financial products and services of ICICI Capital Services in Mumbai.

NTPC Ltd has shelved the proposal of setting up a 2000-MW liquefied natural gas (LNG) power station in Mangalore, due to increase in cost estimates.

ONGC Videsh has signed an oil exploration deal worth $ 238 million with the Petroleum Investment and Development Corporation of Vietnam.

Philips India has decided to re-enter the Indian mobile phone market and has appointed Agrani Convergence as the sole distributors for its mobile phones.

SAIL plans to introduce another Voluntary Retirement Scheme (VRS) for its employees later this month, through which it hopes to reduce its workforce by 10,000.

Tamil Nadu Newsprint and Papers Ltd (TNPL) has announced a fresh investment of Rs 145 crore to expand its capacity and expand its facilities.

Tata Engineering has announced an understanding with PSA Peugeot Citroen of France to examine the feasibility of jointly developing a car for the Indian market.

United Breweries (UB) has temporarily put on hold its proposed acquisition of the 1.25-hectolitre capacity Mangalore Breweries, following a legal threat from Shaw Wallace & Co (SWC).

Wipro Technologies has been selected by Thames Water as a key strategic outsourcing partner for application development, support and maintenance of its IS applications.

Zydus Cadila has signed a three-year collaborative research and development agreement with the Danish firm, Pantheco A/S, which will focus on anti-bacterials.