SS Forgings & Engineering Ltd is planning to invest Rs 200 crore in Sponge Iron

Private jet, helicopter and turbo-prop charter service provider, Airnetz Aviation plans to raise $100 million over the next 2-3 years to fuel its overseas expansion and fund its aircraft acquisition programme.

The company is presently in advanced stages of negotiations with investors from India, Singapore and the US to raise these funds. 

However, the company did not divulge the identities of the investors the company is in talks with. The company hopes to seal its funding over the next two months.

GE Money, the consumer finance unit of the General Electric Company, has announced an increase in its benchmark floating reference rate by 75 basis points to 16.75 per cent with effect from August 9.

The latest interest rate hike is on account of changed financial market parameters with respect on borrowing costs.

According to the company, the revision will affect certain segments of customers like mortgage borrowers. The rate hike takes into account several factors such as each customer's relationship and tenure of loans, among others.  

Technology war, which was associated with the CDMA and GSM-based operators, is now set to shake up the direct-to-home (DTH) entertainment industry.

Cable and DTH viewers are set to get a wider choice, with Anil Ambani Group firm Reliance Communications expected to start nationwide commercial operations of its DTH service from August 15.

'Big Digital TV DTH', a subsidiary of Rcom, is aiming to capture a substantial share of the DTH market that is projected to cross 25-million user base in the next three years.      

Pune-based forgings maker Bharat Forge Ltd (BFL) plans to step into the manufacture of ultra heavy forgings catering to the power sector, including nuclear plants.

Under the proposed plan, the company would setup a new company and pump in Rs 1000 crore to Rs1, 200 crore.

BFL would hold major stake in the new plant. The company plans to form the latest plant with help of JV partners, for which it is already is in talk with various firms.  

The company would set up the new company at Gujarat or Vizag and the location would be finalized by the year-end. The plant is expected to be operational in three years.

Bharti AXA General Insurance, the latest entrant in the general insurance business, has finally launched its business operations in Indian market.  

The company will offer products to cover property, motor, health, personal accident across rural, urban and commercial segments (Large Corporate, Medium enterprises and Small enterprises).

Bharti AXA General Insurance received the certificate of registration from the Insurance Regulatory Development Authority (IRDA) on July 27, 2008.