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ONGC loses Algeria oilfield to Chinese firm
State-run Oil and Natural Gas Corporation (ONGC) has lost an oilfield in Algeria to a consortium led by a Chinese oil firm. ONGC teamed up with Turkish Petroleum Corp (TPAO) and the United Arab Emirates’ (UAE’s) Dana Gas to bid for the hotly-contested Hassi Bir Rekaiz acreage in Algeria’s latest licensing round, sources said. It lost to a consortium of China National Offshore Oil Corp (CNOOC) and Thailand’s PTTEP.

Glimmer of hope for Haldia port
After months of hampered operations, there is now an official assurance that the floundering Haldia Dock Complex (HDC), West Bengal"s only facility capable of handing large vessels, will have a new navigational channel by the first half of next year.

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NHPC IPO's grey premium hit by market uncertainty
After being subscribed by more than 23 times, the state-run National Hydroelectric Power Corporation’s (NHPC) initial public offer (IPO) has been hit by uncertainty in the stock market.
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BrainLAB to open India arm next year

Germany-headquartered BrainLAB group, a privately held manufacturer of software-driven medical technology, is planning to form an Indian subsidiary next year to localise its growing Indian operations. - Service satisfaction - Plaza Centers India makes CBRE exclusive leasing partner - Sunteck Realty to raise Rs 500cr via QIP - LG to re-enter laptop biz with mini notebooks by year-end - StanChart to hire 2,000 staff; to open KPO in Bangalore - India"s 6th civil nuclear pact signed with Mongolia Speaking to reporters at the launch of its first Intelligent Operating Room in India at a Chennai hospital, Stefan Vilsmeier, president and chief executive officer, BrainLAB, said the company was expecting 15 to 20 per cent growth in sales in India in the next fiscal. Intelligent Operating Room takes CT and MRI scans using company’s software Brainsuite. BrainLAB has so far installed 100 systems in around 85 hospitals in the country. According to Vilsmeier, globally, the company has done 3,000 installations in around 17 countries. “A quarter of our Asia Pacific installation has happened in India. The booming medical business and the population of the country make it a potential market for our technology-enabled surgical solutions,” he added. Though he did not divulge the investments to be made in the Indian subsidiary, Vilsmeier said the company would increase its headcount by 20 this fiscal. The Intelligent Operating Room, a new solutions provided by the company has so far been installed in eight locations, including Munich, Beijing, Singapore, the United States and India. He also said that India could become a potential software testing hub of BrainLAB. Currently, China is a major software testing hub for the company. Of $250 million (around Rs 1,250 crore) turnover that the company registered last fiscal, 4-5 per cent came from India. “In terms of volume of sales, India is the second contributor after US. But in value terms, the contribution is 4-5 per cent of the global turnover, due to lesser profit margins. So, we are trying to reduce the computer spent by 30 per cent for India by next two years and increase the profit margin,” he added.


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