|
|
DVB incures
loss of NEW DELHI, Dec 4: Delhi Vidyut Board (DVB) has incurred a whopping loss of Rs 1103.40 crore during. ......more No proposal to announce BANGALORE, Dec 4: The Union Government has no proposal to announce a support price for coffee in ....more London Chamber of MUMBAI, Dec 4: A delegation of London Chambers of Commerce and Industry is currently in the...more HSBC opens its 27th AHMEDABAD, Dec 4: The Hongkong and Shanghai Banking Corporation (HSBC) Limited has opened its twenty....more |
 |
PC revises
guidelines for CHANDIGARH, Dec 4: The Planning Commission (PC) has empowered the states to accord investment approval for major, multi-purpose as well as ......more MUMBAI, Dec 4: J B Chemicals and Pharmaceuticals Ltd (JBCPL), the flagship of unique group of companies’s state-of-the-art facility at Panoli has......more CRISIL reaffirms AAA MUMBAI, Dec 4: The Credit Rating Information Services of India Ltd (CRISIL) has reaffirmed AAA ratings of Rs 500 million non convertible....more IQMS sings joint venture MUMBAI, Dec 4: Hyderabad-based IQMS Software Ltd has signed a joint venture agreement with HJ Mubarak Ali Bin Ibrahim Kuala Lumpur, Malaysia...more |
 |
|
DVB incures loss of over Rs 1,100 cr during 1999-2000 NEW DELHI, Dec 4: Delhi Vidyut Board (DVB) has incurred a whopping loss of Rs 1103.40 crore during 1999-2000, Lok Sabha was told today. DVB has incurred a loss of Rs 1038.95 crore during 1998-1999 and Rs 536.31 crore during the previous year, Minister of State for Power Jayawantiben Mahta said in a written reply. Power : The Pollution Control Board has asked the Delhi Government to decommission the IP thermal power station here within the six months of the commissioning of the Pragati Station, the minister said. In order to improve the performance of the IG thermal power station, DVB has engaged NTPC as consultants for carrying out studies and to indicate short-term and long-term measures, Mehta said. The steps will include carrying out of renovation and modernisation or phasing out of units by larger modern and environmental friendly plant, she said. MTNL : Mahanagar Telephone Nigam Limited (MTNL) has decided to launch its cellular service based on GSM technology in Delhi, Minister of State for Communications Tapan Sikdar said adding the service will be launched before the end of current financial year. NCR : The cities and towns within NCR which fulfill the criteria under the charging policy are only being charged telephone calls at local rates, Sikdar said. However, Bharat Sanchar Nigam Limited (BSNL), the Public Sector Unit under Department of Telecom has been advised to formulate a package by which non STD subscribers of NCR towns can also avail dialing into Delhi network within NCR, Sikdar said. Trees : As many as 36 cases of cutting of trees illegally were reported in Delhi in last six months, Environment Minister T R Baalu said. Cases against 58 people were registered for cutting of the trees illegally, out of which seven persons were booked for the reserved green belt area and remaining 51 for other areas under the Delhi Tree Preservation Act 1994, Baalu said. (PTI) |
|
No proposal to announce support price for coffee BANGALORE, Dec 4: The Union Government has no proposal to announce a support price for coffee in the wake crashing prices of the commodity in the international and domestic markets, Commerce Secretary Prabir Sengupta said today. The Government was not contemplating on the measure. Also, there was no proposal before it, he told newsmen after the inauguration of the one-day international scientific symposium on coffee here. He said the Ministry had constituted a group to study the implications and measures to be taken to meet the situation after the removal of quantitative restrictions from April one. The group was expected to submit its report in a month or two. The Government would take all measures to minimise the hardships that could be caused due to phased removal of quantitative restrictions. To another question, he said the retention scheme proposed by the coffee board was under "active" consideration of the Government. An interministerial committee was studying the proposal. However, he declined to commit himself as to when the decision would be taken on the issue. On persistent questioning, he said the Ministry had not not rejected the proposal and it was obvious that it was under active consideration. The issue would have go beyond the Commerce Ministry. The issue of structure, implementation and placing of the fund would have to be considered. Earlier, in his presidential address, Mr Sengupta said India accounted for a small percentage of exports in the global market. Though major portion of the country’s produce was exported. He said there was need to go beyond short term measures and think of strategies of new marketing to promote the product. There was a need for product diversification and the growers also should evolve a strategy for promotion of coffee. He said the proposal of the retention scheme had not not arrested the slide in prices. The Government was aware of the hardships caused to the growers due to crash in prices. He wanted the research and development centres to consider the demands and requirements of the coffee industry. However, he expressed satisfaction over the increase in average and yield per hectare. (UNI) |
|
London Chamber of Commerce
Industry MUMBAI, Dec 4: A delegation of London Chambers of Commerce and Industry is currently in the commercial capital on a trade mission. The delegation, led by Export Development Counsellor Ian Paterson, will call on officials of the Confederation of Indian Industry, All India Association of Industries, HSBC and SBI capital markets. The aim of the visit is to promote business contacts between the two countries, a release by the Indo-British partnership said here. A delegation of the chamber visited the city early this year. (UNI) |
|
HSBC opens its 27th branch in India AHMEDABAD, Dec 4: The Hongkong and Shanghai Banking Corporation (HSBC) Limited has opened its twenty seventh branch in India here today. Addressing a news conference, Mr Zarir J Cama, Chief Executive Officer in India, said that HSBC was among the top three foreign banking and financial services organisations in India. The bank proposed to open its 28th branch in Chandigarh next month, followed by Pune, Bubaneshwar and Coimbatore very shortly. He said HSBC has introduced gold and silver international credit cards to customers in Ahmedazbad. The bank is the leader in the credit cards merchant acquiring business in India and has started signing up leading business as its merchants in Ahmedabad. Mr Cama said that the bank’s profit of the first half year ended June 30,2000 was 5.2 billion us dollar. (UNI) |
|
PC revises guidelines for irrigation project approval CHANDIGARH, Dec 4: The Planning Commission (PC) has empowered the states to accord investment approval for major, multi-purpose as well as medium irrigation projects and those for flood control and drainage which do not have inter-state ramifications. However, according to the guidelines for irrigation projects, revised by the Commission, those located on an inter-state river or its tributary will be deemed to involve inter-state ramification and as such would require investment clearance from the Commission. A communication to this effect has been received by the Haryana Government here today. The communication was handed over by the advisor, water resources division of the Planning Commission, B N Navalawala to the Haryana Chief Secretary, Vishnu Bhagwan at a one-day workshop on Participatory Irrigation Management (PIM) organised by Haryana Irrigation Department and Haryana Irrigation Research and Management Institute (HIRMI). Navalawala, who delivered the key-note address at the workshop, underlined the need for focussing on PIM saying that there was a wide difference in the existing provision available for farmers’ participation in the irrigation acts and in the present management of irrigation systems. He felt that satisfactory results would not be obtained without giving legal status to the farmers’ associations with legally enforceable rights which would enable these associations to function effectively. He also quoted the example of states like Andhra Pradesh, Karnataka and Madhya Pradesh which have now got a legislation for PIM. Navalavala said that the State Governments should launch a carefully-planned programme to rehabilitate and progressively modernise the existing irrigation system with active participation in decision making and contribution of about 20 per cent of the required investment by water users associations. He stressed the need for efficient PIM in view of the futuristic scenario of water resources in the country. He said that it was now widely accepted that the year 2050, the country with a projected population of 1581 million, would face a shortage of water to the extent of 28 per cent. He said that by the year 2050, the country’s annual water demand for various sectors would reach the level of 1445 Billion Cubic Metre (BCM) as against the utilisable water resources to the tune of 1122 BCM. In that, the share of agriculture would be 74 per cent at the present level of water use efficiency. (PTI) |
|
|
MUMBAI, Dec 4: J B Chemicals and Pharmaceuticals Ltd (JBCPL), the flagship of unique group of companies’s state-of-the-art facility at Panoli has been granted approval by Medicines Control of Republic of South Africa (MCA). The company is now in the process of having this state-of-the-art facility approved by MCA and later by food and drug authorities of US. According to a company release, "it has been a passion with jbcpl to maintain the highest standards of quality for manufacturing bulk drugs and formulations. The approval of the aforesaid plant at Panoli is the testimony to out belief in observing the best manufacturing practices and opens new avenues of export for our well known brands to South Africa in addition to the other overeseas markets". The state-of-the-art facility was put up in the year 1998 at Panoli with an investment of Rs 16 crore. (UNI) |
|
CRISIL reaffirms AAA ratings of NCB prog of TCIL MUMBAI, Dec 4: The Credit Rating Information Services of India Ltd (CRISIL) has reaffirmed AAA ratings of Rs 500 million non convertible debenture program of Telecommunications Consultants India Ltd (TCIL). The "P1" rating assigned to the Rs 500 short term debt program of the TCIL has also been reaffirmed. According to a CRISIL release, the rating reaffirmation factors TCIL’s strong position in the international market for external plant networks project execution, its status as the main contractor to Department of Telecommunications (DoT), healthy order book position and favourable financial position charaterised by continued growth in operating income, low gearing and high interest coverage. These strengths offset the high technology risk affecting the operations of the company. The CRISIL has also reaffirmed rs six billion non convertible debenture issue of Reliance Telecom Ltd (RTL). The rating is soley based on the unconditional and irrevocable guarantees extended by ICICI Ltd (ICICI), for servicing all interest payment and principal repayment obligations on the rated debt, along with a payment mechanism built in to ensure timely payment of obligations on the rated instruments, carries a aaa rating from CRISIL. (UNI) |
|
IQMS sings joint venture pact with Kuala Lumpur MUMBAI, Dec 4: Hyderabad-based IQMS Software Ltd has signed a joint venture agreement with HJ Mubarak Ali Bin Ibrahim Kuala Lumpur, Malaysia in the presence of Datuksri Panglima, Dr Abdul Hamid Othman, senior minister in the Malaysian Prime Minister’s Department. The focus business areas are development of portal on B2B transaction, software development,consultation,education and training, infrastructure and other related areas.The objective of this strategic joint venture is to develop software for South East Asian countries keeping Kuala Lumpur as hub. IQMS is all set to start an Education and Training Institute for IT in Malaysia. The Malaysian joint venture will outsource projects to IQMS.India. The coding testing and installation of projects outsources to IQMS,India by the joint venture will be executed by IQMS in its entirely. IQMS Software Ltd has set up the company’s software development project, web enabled business, e-commerce and management consultancy at a cost of Rs 13 crore at software technologies park at Hyderabad. The shares of the company are listed on Mumbai and Hyderabad Stock Exchanges. (UNI) |
|
