Search Result for : Joint Venture

The Dollar Business Bureau Indian telecom operator Bharti Airtel Ltd and international telecom and media company Millicom International Cellular SA on Monday announced the closing of a deal for combining their operations in Ghana. Executed through their respective arms, the deal will create the second biggest mobile operator in Ghana with around 10 million subscribers and $300 million in revenues. “The combined networks of the two companies will cover more than 80% of Ghana's population, in particular, in villages and far flung areas and serve customers with affordable world-class voice/data services, affordable global roaming and mobile banking services,” Bharti Airtel said in a statement.  Both Airtel and Millicom will have equal shareholdings and rights of governance in the merged entity. In addition, both the companies ...

The Dollar Business Bureau French car maker Renault and Iran signed a mega JV on Monday in the presence of the Iranian Industry Minister, Mohammedreza Nematzadeh. The JV could change the tide of the car maker in the oil rich Middle eastern country. Many Western companies have made a beeline to do business in Iran with the lifting of the sanctions. The joint venture was signed between Renault and Industrial Development & Renovation Organization of Iran (IRDO). Renault will be the majority shareholder holding 60% of the shares, with IDRO and another private player Parto Negin Naseh taking up 20% each. The production of the cars will begin in 2018, with both the parties agreeing to set up an engineering and sales centre ...

Interview by Manishika Miglani India has several domestic mobile brands which are trying to compete with the international companies flooding the handset market in the country. Zen Mobile is one such home-grown mobile manufacturer which is a pioneer in bringing affordable devices to the Indian shores while currently holding 4-5% market share in the feature phone segment. In an interview with The Dollar Business, Sanjay Kalirona, Chief Executive Officer, Zen Mobile, talks about the expansion plans of the company including its vision to start exporting and consolidating the 4G product portfolio. TDB: Zen Mobile currently has a 4-5% market share in feature phones in the Indian market. What is your growth forecast for 2017-18 in terms of expanding this share? Sanjay Kalirona (SK): We are growing at a fast ...

By Manishika Miglani It’s been three years since the Narendra Modi-led government came into power and announced a slew of measures to revive the investment climate of the country since then. In an interview with The Dollar Business, G.V.L. Narsimha Rao, Spokesperson, BJP, talks about the performance of the government, so far, and the party’s roadmap for further leveraging the business sentiment of the nation. TDB: The government has focussed on consolidating the investment scenario of the country? Has it been successful in achieving its targets? G. V. L. Narsimha Rao (GVL): At a time when global FDI inflows have turned negative, India has experienced the highest growth in the sector in the last three years. So, our government has been very successful ...

The Dollar Business Bureau Japanese multinational SoftBank Group Corp and Taiwanese electronics major Foxconn Technology Group, earlier Hon Hai Precision Industry Co Ltd, said on Friday that they would together launch a joint venture, strengthening ties between Asia's two biggest technology companies. This move will provide Foxconn 54.5% stake in one of SoftBank's existing subsidiaries for about $600 million. This comes as the two groups increase investments in the technology segment and considering expansion in the US. As per the arrangement of the joint venture, a subsidiary of Foxconn will invest nearly $600 million in lieu of a majority holding in SoftBank Group’s arm, Capital Apac Pte Ltd. This arrangement will effectively transform what had been a fully-owned subsidiary of Softbank into a joint venture, the companies revealed in a statement. Softbank and ...

The Dollar Business Bureau International coffeehouse chain Starbucks on Wednesday launched tea as a speciality offering in 88 stores in India under the brand of Teavana. “We had nine teas on offer and are doubling that with the launch of Teavana speciality teas. We are looking at attracting newer customers with our focus on tea, and are looking to double tea sales at our Starbucks stores,” Sumitro Ghosh, Chief Executive Officer, Tata Starbucks, told PTI. In 2016, during his visit to India, Howard Schultz, Chairman and CEO, Starbucks described the country as a ‘key business opportunity’ for the company and announced the launch of speciality teas in 2017. In June 2016, Starbucks announced various joint initiatives in India along with its joint venture (JV) partner Tata Sons, ...

The Dollar Business Bureau A joint venture between Taiwanese major Foxconn technology Group, also known as Hon Hai Precision Industry Co., and Sharp Corporations plans to establish a factory with an investment of $8.8 billion (61 billion yuan) in China to manufacture LCDs (liquid-crystal displays). The plant of Sakai Display Products Corporation will be a Gen-10.5 facility, which is specialised in manufacturing large-screen LCDs and will start operating by 2019, the company said on Friday in Guangzhou at a signing event with local officials. The facility will have the capacity equating to around 92 billion yuan per year, it added. The aim of the huge investment is to increase production in order to meet estimated rising demand in Asia for large-screen televisions and monitors. The global ...

The Dollar Business Bureau Coal India Limited announced that it has entered into an agreement with state-run power company NTPC Ltd. for revival of its two fertilizer plants. According to the deal, the 50-50 joint venture between Coal India and NTPC will establish and operate new fertiliser (ammonia urea) complex at Gorakhpur in Uttar Pradesh and Sindri in Jharkhand units of the Fertiliser Corporation of India Limited (FCIL). The joint venture will also market FCIL’s products. "The Ministries of Coal and Power directed CIL and NTPC to enter into joint venture for revival of these projects and hence a JV agreement was signed between the two companies," CIL said in an announcement. During the meeting held at the Prime Minister’s office, both Coal and ...