Panoramic Universal acquires stake in Sri Vatsa Hotels, Hi-Flyers Travel Services

Panoramic Universal, a Mumbai-based company having interests in hospitality and information technology, has informed that it has acquired 51% stake in Sri Vatsa Hotels for an undisclosed amount.

The company aims to construct a four star hotel with nearly 90 rooms in the said commercial complex through SVPHL or its subsidiary or by itself.

In a separate release, Panoramic Universal has also bought remaining 21.93 % shares of Hi-Flyers Travel Services, a travel agency catering to premium corporate and HNI clients like Sharekhan, Akruti Foundation, SSKI, Jain Irrigation, Supreme Industries, Borroughs India and several other Companies.

With the acquisition, Hi-Flyers Travel Services has become a wholly owned subsidiary of the company.

Tulsyan NEC inks MoU with Budhrani Group

Kolkata-based Tulsyan NEC Limited, a flagship company of the Tulsyan group, has signed a Memorandum of Understanding (MoU) with Budhrani Group of companies to set up a steel making and rolling mill in Nigeria on a joint venture basis to manufacture long products.

According to the sources, the production capacity would be around 60,000 metric tonnes per annum and the turnover for this venture is expected to be around Rs 350 crore.

Both partners intend to pump investment worth Rs 68 crore for the plant.

Tulsyan shares touched a high of Rs 65 on the BSE after the news. But later the stock ended the day at Rs 62, down Rs 2 or 3% over the previous close.

Future Group forms JVC with UAE-based Axiom Telecom

Future Group forms JVC with UAE-based Axiom TelecomThe Future Group, whose flagship company Pantaloon Retail operates over 1000 stores nationwide, has entered into an agreement with UAE-based mobile retail company Axiom Telecom, to form 50:50 joint venture company christened ‘Future Axiom Telecom Ltd.’

According to the company, the newly formed JVC will retail and distribute mobile handsets and accessories and set up service centres in India. Further it would also take charge of the 500 stores and touch points in 58 cities, which are currently running under the brand name of Mobile Bazaar and Mport respectively.

Lanco Infratech gets board’s approval to de-merge LHTPP into two units

Hyderabad-based infrastructure firm, Lanco Infratech has informed that the Board of Directors of its subsidiary Lanco Hills Technology Park Pvt. Ltd (LHTPPL) has decided to de-merge LHTPPL into two entities, subject to statutory and various other approvals.

With the de-merger of LHTPPL, the SEZ business would be retained by the existing LHTPPL and the non-SEZ business would be de-merged into a separate company.

The de-merger would be effective from April 1, 2008.

Many stock analysts are bearish on the Lanco Infratech stock in the short-term. They expect that the stock’s medium-term downtrend will persist until the stock crosses its resistance of Rs 105 in the short-term.

Punj Lloyd arm bags contract worth $ 22.48 million in Indonesia

Punj Lloyd, a leading engineering procurement & construction (EPC) and project management services company has informed that PT Punj Lloyd, a wholly owned subsidiary of the company in Indonesia has secured an order worth US$ 22.48 million.

The order was awarded by PT Shell Indonesia for Engineering, Procurement and Construction (EPC) services contract of New Fuel Terminal at Pulau Laut, Kalimantan.

The stock of Punj Lloyd closed today at Rs 167 on BSE. It touched an intraday high and low of Rs 178 and Rs 160 respectively.

Sri Lankan Army Captures Strategic Town

Sri Lankan Army on Monday captured Vannerikulam town and encircled Nachchikudha, the main sea Tiger base, after fierce fighting which left 33 soldiers dead.

Another task force of the army got close to the biggest sea Tiger base in which 11 LTTE were killed, defense ministry said.

Apparently, stepping up their attack strategy to capture LTTE headquarters, government troops overnight and this morning launched a fierce offensive to capture the Vannerikulam town for which the Tigers had put up a stiff resistance.

The new offensive brought the army a step closer to capturing the militants' de facto capital of Kilinochchi in northern Sri Lanka, the military said.

Emirates to add 31 Flights to India

Dubai-based international air carrier Emirates today announced that it will add 31 weekly services to India. This will lead the number of weekly flights to 163 by February 2009.

The carrier will introduce seven additional flights with effect from October 26 between Delhi and Dubai, increasing the total weekly frequency in this route from 18 to 25 flights.

The Emirates will add seven additional flights per week to its current 28 flights per week from Mumbai.

Non-bailable warrant issued against Raj Thackrey

Finally, non-bailable warrant (NBW) has been issued against Maharashtra Navnirman Sena Chief Raj Thackeray.  The Mumbai Police have said that he might be arrested soon.

The warrant was issued for a speech made by Raj in February where he had spoken against North Indians and had also targeted Amitabh Bachchan in that speech.

The Maharashtra Chief Minister Vilasrao Deshmukh was under pressure to act against the MNS chief as major political leaders condemned the actions of MNS Chief.

A Congress delegation has met the Chief Minister to demand Raj Thackeray's arrest at the earliest. Three UPA Ministers have demanded action against Raj.

Slight rise in OPEC crude price after cartel announces meeting

Organization of the Petroleum Exporting CountriesVienna - The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) rose by 0.48 dollars Friday, following the cartel's decision to meet on October 24 to discuss production cuts.

One barrel (159 litres) of OPEC crude stood at 63.82 dollars Friday, up from 63.34 dollars on the previous day, OPEC said Monday.

Mohammad Rafi’s native village facing neglect

Mohammad Rafi’s native village facing neglect

Kotla Sultan (Amritsar),
July 31 (ANI): Mere mention of Mohammad Rafi (December 24, 1924 – July
31, 1980) can make many of the leaders start humming his immortal
songs. But at the legendary play back singer’s native place, his
friends rue the ignorance shown by political leaders towards his


It was his 28th death anniversary on Thursday. 

Lasting Cough May Cause COPD

copdSmoking leads to lung cancer and heart disease that might be cognizant to many people. But do you know it also causes grievous respiratory circumstance in which the airways get barred? So Smokers mind it.

To a higher degree 13 million Indians are dupes of Chronic Obstructive Pulmonary Disease (COPD), where the patients’ airways are blocked.

While addressing presspersons on World COPD Day, B.V. Muralimohan, consultant pulmonologist of Narayana Hrudayalaya, commanded smoking was one of the main does for acquiring COPD.

Many Pakistanis have lost faith in Musharraf: Time

Islamabad, Sept 23 : Pakistan President General Pervez Musharraf’s undertaking to the Supreme Court that if re-elected by the Parliament, he would step down as Army Chief before being sworn in on November 15, is a promise that rings hollow to some, and one that has been heard before.

According to an article in the Time magazine, some lawyers and analysts see the promise as an attempt to pre-empt an apex court decision declaring him ineligible to run for President.

Pakistanis in America concerned over arrest of fellow countrymen by FBI

Washington, Sep 23 : The arrest of 45 people, mostly Pakistanis, in an FBI sting operation in Maryland has stunned Pakistani-Americans as they fear that it would further strengthen the negative stereotyping of their community in this country.

"People are scared. It will have a very negative impact on the entire community," said Munir Ahmad, a member of the Maryland Muslim Council.

"Some of the suspects were known in the community and people have been dealing with them," he said.

"People say that they were licensed money dealers and apparently law-abiding citizens. We don’t know what happened," Ahmad added.

Taoiseach Holds Contacts With AIB

The TaoiseachAllied Irish Bank is defending the contact he made with an AIB official to inquire about transactions under investigation by the Mahon Tribunal.

Jim McNamara told the tribunal that Bertie Ahern contacted him this year to ask about particular lodgements being investigated by inquiry, told Jim McNamara to tribunal.

Mr. Ahern was marveling what conclusive evidence the bank had that three specific lodgements made in the 1990s were foreign exchange transactions.

Mr. McNamara accepted that it was a very unusual request from the Taoiseach.

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