An Anil Dhirubhai Ambani Group venture, Reliance Entertainment Company (REC) plans to float a subsidiary firm in the UK to venture into the production of English films.

REC chief operating officer Mr Mahesh Ramanathan said, "We have plans to venture into the production of English films to be shot across the scenic locations of England and Wales. We will be registering a subsidiary company in the United Kingdom. The investment towards producing the English movies could go upto £40 million per project."

Leicestershire Economic Partnership chief executive Mr Kishor Tailor who met the senior executives of REC said, "We are keen on forging a mutually beneficial association with the REC. Leicestershire Economic Partnership is working on a strategy to invite REC to establish its UK operations in Leicester and shoot its forthcoming productions in our county."

Leicestershire India Trade Bureau chief Mr Mahendra Mistry, "Our current visit to Mumbai is focussed on wooing the Indian film production companies to partner with the actors, line-producers, directors and the technicians residing in the British county of Leicestershire to shoot Bollywood movies in the UK. Also, we offer post-production marketing cum publicity support for the Indian films shot in our county."

Courtesy : Asianage.com

A recent survey revealed that 99.9 per cent of households in Chennai believe they are financially at risk due to ineffective saving habits and misplaced financial optimism.

Almost every household in the city felt that they could not survive for more than one year on their current savings in case of loss of major source of household income, said the survey findings.

The study was jointly undertaken by the National Council of Applied Economic Research (NCAER) and Max New York Life Insurance Company Limited on 'How financially protected are Indian households' by assessing how India earns, spends and saves.

As per the survey findings pertaining to Chennai and rest of Tamil Nadu (RoT), 38 per cent households in RoT and 12 per cent households in Chennai keep their savings at home.

46 per cent of households in RoT and 69 per cent in Chennai prefer to deposit their savings in banks.

Though a large percentage of households were saving in banks, they were not investing in high yielding investment tools, it said.

Courtesy : Expressindia.com

The US-India Business Council (USIBC) will confer the 'Global Vision' 2007 award for leadership on Reliance Industries Ltd (RIL) Chairman Mukesh Ambani in Washington on Wednesday.

Boeing Chairman, President and CEO James W McNerney will also be presented with the leadership award, while US Secretary of State Condoleezza Rice would be honoured with the USIBC Distinguished Service Award at the council's 32nd anniversary summit.

Rice will deliver the keynote speech on 'Uniting Two Great Democracies for the 21st Century' at the event to be attended by Indian Commerce Minister Kamal Nath and US Trade Representative Susan Schwabe, a statement from USIBC said.

Ambani, who heads the Reliance conglomerate that has interests in oil exploration, refining, retail, textile, petrochemicals and SEZs, is expected to meet top US officials, including Rice, at the event and hold discussions on a range of issues such as outsourcing and energy security.

The Washington-headquartered USIBC, a premier advocacy organisation, promotes economic reforms to deepen trade relations and broaden commercial ties between the two countries.

USIBC formulates an annual work plan that targets specific issues important to its 250 member-companies.

Courtesy : Expressindia.com