Stockholm - Swedish heavy-vehicle maker Volvo on Wednesday reported a 25 per cent increase in pre-tax income for second quarter 2008, citing strong growth in Eastern Europe, South America and Asia.

Pre-tax income was 7.48 billion kronor (1.25 billion dollars), compared to 5.97 billion kronor in the corresponding period 2007 for the Volvo group, excluding the Ford-owned car division.

Net sales were up 13 per cent to 80.4 billion kronor, compared to 71 billion kronor in the corresponding business period 2007 while net income increased 28 per cent to 5.1 billion kronor.

Fidelity Asset Management Company tied-up with Bajaj Allianz Financial Distributors, for distribution of its products.  
 
J.K. Bhagat, CEO, Bajaj Allianz Financial Distributors, and Ashu Suyash, Managing Director and Country Head - India, Fidelity International, signed the agreement.

With this tie-up Fidelity AMC`s funds can now be sold by over 5,500 agents of Bajaj Allianz Financial Distributors (BAFDL). This number is expected to grow significantly as BAFDL increases the number of AMFI-certified agents by training their insurance agency network of more than 30 million agents.
 

Philips Electronics Singapore Pte Limited informed that it has appointed Redington India Ltd, as its direct shipment distributor for Philips range of LCD Monitors for entire India territory.

Under the deal, Redington will import Philips LCD monitors directly for distribution and sale in India through its extensive distribution network. Philips LCD monitors offer three-year on-site warranty support.

Apart from this, Philips Electronics Singapore also has appointed Redington India Ltd as its service provider for Monitors in India.

IVRCL Infrastructures and Projects Limited informed that it has secured five new orders worth Rs 351.21 crore from various firms.  

According to an official release, the first order worth Rs 98.36 crore for the building division has been secured from Andhra Pradesh Industrial Infrastructure Corporation for construction of research buildings complex and providing infrastructure facilities for IGCAEL at Pulivendula, Kadapa Districtrores.

The company has bagged second order worth Rs 79.50 crore from Bangalore Metropolitan Transport Corporation for construction of traffic and transit management centre under JNNURM scheme-package.
 

Country’s largest international bank Standard Chartered Bank has announced the launch of the ‘Smart Credit Gold Overdraft’, a product designed to ensure that customers receive the maximum value fro