MONEYMAKERS
research centre: Ethical Pharmaceuticals of Sweden plans to set up a research and development facility in India, said Perake Oldentoft, the company's director, Asia/Pacific, on November 7. The company develops pharmaceutical products including controlled release tablets and transdermal patches. The Swedish company currently has three development facilities at Sweden, the UK and Argentina. The company has already entered into an agreement with the Indian pharmaceutical company Kemwell to produce diltiazem tablets that are used to deal with hypertension and angina. The commercial production is expected to commence in December this year.
software centre: Microsoft Corp, the world's biggest software company, plans to set up a software development centre in India, according to Orlando Ayala, Microsoft's vice-president for intercontinental operations. This would be the company's first major centre outside the US. "We should come out with an announcement by the end of the year,' Ayala said. "India is definitely being picked as a centre. It is not a question of if, it is a question of when,' he said. He added that the Indian centre could be used to develop an entirely new kind of software.
in the pipeline: Enron, the US energy giant, is in the process of completing an agreement with Qatar to set up a US $5-billion liquefied natural gas (LNG) venture as soon as it finalises its gas arrangements with India. On November 8, Qatar General Petroleum Corporation held negotiations in Abu Dhabi with Enron regarding firm agreements for the joint venture in Qatar. In a press statement issued in Doha, Enron said that it expected the agreements to be completed as soon as its gas arrangements in India were finalised.
driving the buzz: Citrus Clean is the name of an ecologically sound insect repellent launched by Ecosense Labs (India) Pvt Ltd. It is a special combination of natural herb extracts such as citronella oil, lemon grass oil and pine oil. The product can also be used as a disinfectant to mop floors. It is non-toxic and can also be used to clean kitchen and dining tabletops and is available at a price of Rs 89.75 for a 250 ml pack. The company also produces a range of biological pesticides and fertilisers.
fat bills: Americans spent US $57.3 billion on illegal drugs in the year 1995. This is slightly lower than that of 1994 and two-thirds of what was spent nine years ago. This was revealed by president Bill Clinton's top advisor on drug control on November 9. Of the money spent in 1995, $38 billion was on cocaine, $9.6 billion on heroin and $7 billion on marijuana, according to a study released by Barry McCaffrey, director of the White House office of national drug control policy.
oil to pakistan: Hindustan Petroleum Corporation Ltd (HPCL) has said that it can export oil to Pakistan from its proposed refinery in Bhatinda, Punjab. The oil can be transported by road as the border is quite close to the refinery. HPCL is all set to submit its detailed feasibility report for the proposed refinery which is also being promoted by the Saudi Arabian company Aramco. As proposed, HPCL and Aramco will hold 26 per cent stake in the joint venture and the balance will be offered to the public. The total project cost including a 1,000-km long pipeline to the Gujarat coast and a 1,100 MW power plant is estimated at Rs 11,000.