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To: Mohan Marette who wrote (104)2/11/2000 9:02:00 AM
From: Mohan Marette  Read Replies (1) | Respond to of 494
 
Indian Business Briefs -IDBI & US Principal Financial in JV

Friday, February 11 9:14 PM SGT

India Business Briefs: IDBI, US Principal Fincl In JV

BOMBAY (Dow Jones)--Principal Financial Services Inc. of the U.S. will acquire a 50% stake in IDBI Investment Management Co., currently a wholly owned subsidiary of Industrial Development Bank of India (P.IDB). IDBI will appoint the chairman and chief financial officer and Principal the chief executive of the joint venture.

India's SRF Ltd. (P.XBF) said Friday it has sold its entire holding of 1.65 million shares in Shri Ram Needle Bearing Ltd. (SNL) to NRB Bearings Ltd. for INR5 a share.

Indian information technology services provider NIIT Ltd. (P.NIT) said Friday it has launched India's first Internet Entrepreneurship Development project to prepare entrepreneurs to set up Internet-based businesses on their own.

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