Corporate Moves

* Birla Sun Life Insurance Company has received the in-principle clearance for registration from the IRDA, to enter the life insurance business. The joint venture expects to commence business in January.

* HDFC has said that it plans to launch a credit bureau under the banner Credit Information Bureau of India Ltd (CIBIL) with the State Bank of India and two foreign companies as equity partners.

* Moser Baer has set up a subsidiary in the US that is to be called Glyphics Media , with a view to increase Moser Baer's penetration into key North American Markets.

* NIIT has announced that it plans to set up 1,000 more education centres in the next one year, as part of its strategy to achieve the global leadership position in IT education and training by 2004.

* ONGC has announced that it plans to invest Rs 400 crore for exploration and development of `Abu Khema' oil fields in Iraq, beginning early next year.

* Pentamedia Graphics has acquired three companies -- Media Dreams, Krish Srikkanth Sports and Entertainment Ltd and Mayajaal (Hotel Whales) -- in an all-stock deal worth Rs 175.96 crore.

* Ranbaxy Labaratories plans to quit its joint venture business with Eli Lilly of US as it plans to use cash resources for its operations than invest in the joint venture.

* S. Kumars has announced that it has decided not to go ahead with its plans to spin-off its Reid & Taylor worsted fabrics division into a subsidiary company, for the time being.

* SmithKline Beecham Pharmaceuticals has indicated that GlaxoSmithKline plc , one of the world's leading research based pharmaceuticals and healthcare companies, has been listed on the London Stock Exchange and the New York Stock Exchange.

*State Bank of India (SBI) has invited Cardif S.A. of France to be its partner and hold 26 per cent equity stake in its proposed life insurance business.

* United Western Bank has entered into an agreement with SICOM, the single largest shareholder, for induction of three directors ending a dispute with the shareholders.

* United Bank of India will introduce a Voluntary Retirement Scheme (VRS) for all sections of its employees (except specialists), from January 1, 2001, to January 31, 2001, hoping to reduce its total workforce by 10 to 12 per cent or 21,000.

* Wockhardt has announced that it is earmarking $100 million for strategic acquisitions, as it considers size and reach as important factors in the consolidation in the pharmaceuticals industry.