Amas Bank (Switzerland) Ltd has acquired 40 per cent stake in PATCO Investments & Consultancy Services Private Ltd. for an undisclosed amount. PATERSON is a Chennai-based stock broking firm, while Amas Bank is a global banking entity of the trans-national Hinduja Group, founded in 1978 as a finance company and granted banking license in 1994. Amas Bank is headquartered in Geneva, having offices in Zurich, Lucerne, Basle, St. Margrethen, Dubai, London, Paris, New York and Mauritius.
Madras Aluminum Company Ltd (MALCO), a part of London-listed Vedanta Resources Plc belonging to Anil Agarwal, has announced that it will ‘temporarily suspend’ aluminum production as price of the metal continues to fall on the London Metal Exchange.
The Telecom Regulatory Authority of India (Trai) has recommended the imposition of annual administrative charge for 3G technology, which would be 2% of the highest 3G spectrum bid amount. Companies will have to pay the administrative charges in the one year moratorium period from the date of the allocation of spectrum. The regulator has proposed to the standalone 3G players and the new entrant companies to share an additional 3% of their annual gross revenues with the government for using the frequency spectrum. 
A further 2.37 million shares has b
Jet Airways, and its subsidiary JetLite, the leading airlines of the country, have reduced the fuel surcharge by Rs 400 and Rs 300 per ticket, respectively, following a dip in the aviation fuel prices. Jet Airways- JetLite combined, run a fleet of 109 aircrafts.
