Max New York Life Insurance has entered into a strategic business alliance with Indian Mercantile co-operative Bank as referral partner relationship.

Under the arrangement, Max New York Life Insurance will utilize the branch network of the Bank to sell its life insurance products.

Anil Dhirubhai Ambani Group company Reliance Capital, a major financial services provider, has finally secured an approval from the National Housing Bank (NHB) for setting up a housing finance company.

It may be noted that, Reliance Capital is already into the mortgage business through its wholly-owned consumer finance arm Reliance Consumer Finance.

National Thermal Power Corporation Ltd (NTPC) has signed a Joint Venture agreement with five large state-run companies. The list includes Steel Authority of India Ltd (SAIL), Rashtriya Ispat Nigam Ltd (RINL), Coal India Ltd (CIL) and National Mineral Development Corporation Ltd (NMDC).

India would get additional quantity of liquefied natural gas (LNG) from Qatar in the first six months of 2009. The country is likely to get six cargoes from February this year.

The Oil minister of Qatar, Abdullah bin Hamad al-Attiyah said that his country would supply 7.5 million metric tons of gas per year instead of 5mn tons a year, it is currently offering.

Siemens India Ltd on Tuesday informed Bombay Stock Exchange that it has transferred all its stake in its IT arm--Siemens Information Systems (SISL) to a subsidiary of Siemens AG- Siemens Corporate Finance.

Siemens' Managing Director, Armin Bruck said that realignment of software business is done to separate low and high margin business. Siemens Information Systems get
70 per cent of its revenue from its parent company.

One of the new directors of Satyam Computer appointed by the government, Kiran Karnik has expressed concerns over actual financial liability of beleaguered IT giant.

He said that it is difficult to arrange loans under current scenario and it will be difficult for the company to manage the expenses.

While speaking to NDTV, he said that the company has great talent pool which is able to restore its position in the market. The board of directors is working on various measures to get financial aid and to re-build confidence of investors and employees.