MILLENNIUM BUG BITES Y2K-COMPLACENT INDIAN COMPANIES

Article Abstract:

A recent survey by Mastek has indicated that 70 percent of Indian companies with turnover of over Rs400 crore are likely to be affected by the Y2K problem. The millennium bug refers to a date anomaly that can corrupt business transactions beyond 2000 AD. Currently only two spaces are allocated for describing the year of transaction. Several companies are taking steps to solve the problem. Y2K requirements need companies to identify functions that involve date calculations that subtract January 1, 2000 from a previous year. Hindustan Lever Limited has been working on the Y2K problem for the past two years. It will become Y2K compliant by October 1, 1998. (vv)

Comment:

India: Survey shows that 70% of Indian companies w/ turnover of over Rs400 crore are likely to be affected by millenium bug

Business

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PIRELLI CABLES PLANS TO EXTEND INDIAN ARM VIA ACQUISITIONS

Article Abstract:

Pirelli Cables India Private Limited (PCIPL) plans to buy power and cable companies to expand its business in India. PCIPL is a 100 percent subsidiary of Pirelli Cables & Systems (PC&S) of Italy. PC&S had recently acquired the power cables business of Siemens AG for DM 500 million. According to PCIPL, the Indian power and telecom cable industry is undergoing restructuring as there is excess capacity. (rk)

Comment:

Plans to buy power & cable companies to expand its business in India

Other Communication and Energy Wire Manufacturing, Nonferrous Wire Drawing, Nonferrous wire, Wire drawing, Pirelli Cables India Private Ltd.

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SINOCHEM PLANS TO MAKE IT BIG IN INDIAN MARKET

Article Abstract:

The China National Chemicals Import & Export Corporation (Sinochem) of China, a trading house, proposes to double its business in India. It set up an office in India in 1998. It proposes to open some more offices in India. It has been exporting natural gas, oil, crude oil and tri-ammonia phostphate to India. Sinochem plans to close some of its units in other parts of the world. (ag)

Crude Petroleum and Natural Gas Extraction, Crude Petroleum & Natural Gas, Petroleum industry, Natural gas, Petroleum, Gas industry, China National Chemicals Import and Export Corp.

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