State Bank of India Cards is designing a product for small and medium businesses. A joint venture between SBI and GE Capital, the credit card would be exclusively for the SME sector, allowing them to buy raw material and conduct other transactions related to their requirements. “We are hopeful of launching the product within a year,” SBI Cards and Payment Services Chief Executive Officer Kadambi Narahari said. — Special Correspondent

Globality Partners launched

Founder of Great Lakes Institute of Management Bala V Balachandran has set up an investment consultancy firm aimed at providing execution capabilities for small and medium enterprises. The company, called Globality Partners, has a number of advisory offerings. “Globality Partners will leverage its cross-border activity. We have partners in 27 countries to make sure we raise funds at the lowest cost of capital,”,” said Mr. Balachandran, who is also the Chairman for Globality Partners. — Staff Reporter

Dr. Reddy’s launch

Dr. Reddy’s Laboratories launched Metroprolol Succinate ER (extended release) tablets (25 mg, 50 mg, 100 mg and 200 mg), a bio-equivalent generic version of Toprol-XL (Metroprolol Succinate) tablets, in the U.S. on Tuesday. According to a company release, Metroprolol ER tablets were approved by the US Food & Drug Administration (USFDA) last month. — Special Correspondent

Corporation Bank in pact with Piaggio

Corporation Bank has signed a memorandum of understanding (MoU) with Piaggio Vehicles Pvt. Ltd. The MoU was signed by K. Ramamurthy, General Manager, Corporation Bank, and Praveen Nagpal, Vice-President, Retail Finance and Special Projects, Piaggio Vehicles. With this tie-up, Corporation Bank will offer financing facilities to eligible customers for buying Piaggio commercial vehicles through its branches. Piaggio Vehicles produces light commercial vehicles at its facility in Baramati, Maharashtra. — Special Correspondent

Godrej Summit

Godrej Properties plans to invest Rs. 600 crore to develop a residential complex in Gurgaon over the next five years. According to its Managing Director and CEO Pirojsha Godrej, the project, Godrej Summit, will be developed in partnership with Zara Sanya under an area- sharing agreement, in which Godrej Properties will hold 65 per cent stake. “We will construct about 1,200 flats in 11 towers. The price will start from Rs. 75 lakh,” Mr. Godrej said. — Special Correspondent

Dune coming to India

London-based luxury footwear and accessories brand Dune, on Wednesday, said it would enter India in partnership with the retail arm of India's largest private firm Reliance Industries. The Dune group was likely to launch its first flagship store by the year-end or early next year, a Reliance Brand official said. “India has been a key territory targeted for development,’’ Dune International Chief Executive Mohamediqbal Yacoobali said in a statement. — AFP