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NEW DELHI, Dec 13: Maruti 800, commonly called the car of the masses......more Reliance telecom asked SHILLONG, Dec 13: The Defence Ministry has directed the reliance telecom....more
134 foreign investment proposals approved for agro-based industries NEW DELHI, Dec 13: Maharashtra, Tamil Nadu and Delhi top in the number of proposals....more
Banking bill introduced NEW DELHI, Dec 13: Government today introduced in Lok Sabha the long-awaited Banking Bill amidst stiff protests.......more |
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Rs 2021.22 cr spent on NEW DELHI, Dec 13: A total amount of Rs 2021.22 crore has been spent till March, 2000 on the Indira Gandhi canal project, with Rajasthan pitching in .....more
Need to focus on laser NEW DELHI, Dec 13: India must priorities technology options and focus on critical technologies, including "laser" which is yet to have any significant ......more Tokyo stocks mixed, techs TOKYO, Dec 13: Tokyo stocks ended Wednesday mixed, with high-techs such as Softbank Corp cheered by a rise in US stock index futures after a ....more OPEC output cut possible RIYADH, Dec 13: OPEC could move to curb production in early 2001 if oil prices continue their steep decline, OPEC Deputy Secretary-General Shokri Ghanem said in remarks published on Wednesday......more |
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NEW DELHI, Dec 13: Maruti 800, commonly called the car of the masses, has improved its quality by 28.75 per cent over last year. According to the Initial Quality Study (IQS) by JD Power, America’s biggest name in customer surveys, this car has scored 223 problems per hundred vehicles (pp 100) compared to 413 in 1998 and 313 in 1999. This is significant as indigenisation level in Maruti 800 had already achieved more than 95 per cent. IQS gives the details about how many problems a model is likely to have in the first three to five months of ownership. Each model is given a pp 100 score and lower the score, the lesser the problems. Maruti 800, launched in 1983, is the cheapest car in its category in the world. This continued to be the most appropriate entry-level car in India, the survey showed. Maruti 800 alone accounts for about 30 per cent of total passenger car market in India. It received a complete face-lift in 1986 and another in 1997. This year, MUl introduced MPFI engine in Maruti 800 with 12 valve 16-bit computer, making it the most contemporary car on technology. MUL has till date sold 16.3 lakh Maruti 800 in India and has exported 1.06 lakh to over 80 countries. JD Power started covering Indian car market four years ago. (UNI) |
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Reliance telecom asked not to expand in NE SHILLONG, Dec 13: The Defence Ministry has directed the reliance telecom not to spread its cellular services beyond Guwahati and Shillong in North East for insurgents "may misuse it." According to official sources, the Ministry was reluctant to give permission for further extension of the cellular services in the region fearing that militants might use it extensively for carrying out their operations. It was reported that even a minister from the Mizoram Government approached the Union Defence Ministry requesting to grant cellular services in Aizawl. But it was not agreed to. Citing reasons for why the services could not be allowed in the region, a defence source said, in India there was no system which could specifically track mobile telephone. "Only Base Transceiver Stations (BST) can be detected." Though Reliance Telecom had been making pleas to the Ministry to allow them to extend their services to other parts of the Northeast, no positive response had been given by the latter so far in this regard. A source from the Telecom Department said in Manipur extremists were using high-powered cordless phones. He wondered then why cannot cellular services be allowed. It might be mentioned that Reliance Telecom operates in the 13 states in the country including Assam and Meghalaya in the North East. Here in the capital about 1600 consumers subscribe to the cellular services while in Guwahati about 12,000 people use the service. (UNI) |
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134 foreign investment
proposals approved for NEW DELHI, Dec 13: Maharashtra, Tamil Nadu and Delhi top in the number of proposals that received foreign investment over the past three years. Over the period, 134 foreign investment proposals for agro-based industries were approved, Minister of State for Small Scale Industries Vasundhara Raje said today in a written reply to the Lok Sabha. Maharashtra has the maximum of 26 followed by Tamil Nadu with 18 and Delhi with 17 of the total. Other recipients of investments are Andhra Pradesh - 5, Gujarat - 4, Haryana - 2, Jammu and Kashmir - 1, Karnataka - 9, Kerala - 8, Orissa - 1, Punjab - 4, Rajasthan - 2, Uttar Pradesh - 6, West Bengal - 3 and Goa 1. Under the ‘not indicated category’ there are 27 proposals. Credit flow: The composite loan limit has been raised from Rs 10 lakh to Rs 25 lakh, enhancing aggregate turnover limit from Rs 4 crore to rs 5 crore. As per the Reserve Bank of India, 22.72 lakh SSI accounts were operational at the end of March, 2000 with public sector banks. As per RBI norms, no collateral security is required on loans upto Rs 5 lakh to artisans, village and cottage industries and other SSI units. The Government, in order to tackle the problem of collaterals faced by SSI units, recently launched a credit guarantee scheme under which collateral free loans upto Rs 25 lakh are available to SSI units. WTO: The Government organised 28 wto sensitisation programmes in the country. Mini tool room: The proposal to set up a mini tool room at Thiruvananthapuram through the Kerala State Electronic Development Corporation Ltd, the land and building for which are ready, will be taken up soon. (UNI) |
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Banking bill introduced despite stiff opposition NEW DELHI, Dec 13: Government today introduced in Lok Sabha the long-awaited Banking Bill amidst stiff protests from angry Congress and Left Parties. Titled Banking Companies (acquisition and transfer of undertakings) and Financial Institutions Laws (amendment), the Bill was introduced by Finance Minister Yashwant Sinha after an hour long impromptu discussion in which opposition pressed for a division terming the legislation as "unconstitutional and anti-people". The Bill was introduced after 209 members voted in favour and 159 against it. Explaining the rationale behind the legislation to push forward the banking sector reforms, Sinha refuted the opposition charge that it would lead to selling of country’s assets to multinational companies and privatisation of public sector banks. Congress and Left Party members and former Prime Minister Chandra Sekhar also alleged that the bill was intended to serve the interests of "willful defaulters" who owed the banks Rs 58,000 crore. "These defaulters should be actually put behind bars," they said. Rejecting their charges, Finance Minister Yashwant Sinha said the Government would ensure that public sector character of the banks would be maintained at every cost and that not a single unit would be disinvested. The dilution of Government equity would be to inject fresh capital through public offering. The Government had already allowed divesting of Government equity in public sector banks upto 51 per cent in 1994 and the present bill would allow them to dilute Government equity upto 33 per cent. The legislation was in line with Narasimham Committee recommendations on banking sector reforms. The measure is being proposed as the resources of the Government were limited and funds were required for other priority areas. It was, therefore, not possible for the Government to contribute the substantial amounts now required by the nationalised banks for meeting new prudential norms. The Government’s decision to dilute its equity to 33 per cent in nationalised banks by injecting fresh capital from the public was aimed at bringing operation of these banks in tune with the changing economic scenario and modern business practices. The bill also seeks to amend acts of State Bank of India and its subsidiaries Industrial Development Bank of India, EXIM Bank of India, NABARD, National Housing Bank and Deposit Insurance and Credit Guarantee Corporation Act State Bank of India to ensure that the non-official directors in the boards do not continue in office beyond their three-year terms. (PTI) |
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Rs 2021.22 cr spent on Indira Gandhi canal project NEW DELHI, Dec 13: A total amount of Rs 2021.22 crore has been spent till March, 2000 on the Indira Gandhi canal project, with Rajasthan pitching in Rs 1534.36 crore and the Centre Rs 556.86, Planning and Programme Implementation Minister Arun Shourie informed the Lok Sabha today. Replying to members Mr Shourie said the central loan assistance now being provided to the project, which was under construction, was made available under the accelerated irrigation benefit programme. However, the funding made available to the project under the Border Area Development Programme (BADP) till 1993-94 had been stopped. Replying to specific question by Mr Girdhari Lal Bhargava, the minister said the Centre had allocated Rs 55 crore for the project this year but these funds were lying unutilised for the want of Rajasthan Government’s share of Rs 25 crore. (UNI) |
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Need to focus on laser technology, says Narayanan NEW DELHI, Dec 13: India must priorities technology options and focus on critical technologies, including "laser" which is yet to have any significant use in the country, President K R Narayanan said today. Laser is used mainly in laser pointer used in presentations, Narayanan said, inaugurating the 9th national laser symposium at the Laser Science and Technology Centre here. Besides, most of the common lasers that were used in the country were imported, he said, asking for effective infusion of modern technology in every walk of life. Successful economies like China had effectively harnessed the opto-electronics technologies and India should not lag behind in this field, he said. Use of laser technology in medical diagnostics and treatment had benefited the common man, he said adding bio-stimulation with laser had opened up possibilities of pain relief with no side effects at affordable costs. He called for a close cooperation between University Researchers, R&D scientists and industry to build a technology base for lasers. The three-day symposium, organised by Lastec - a DRDO Laser Lab - in collaboration with Indian Laser Association, will be attended by over 400 delegates from Government organisation, universities, IITs and R&D organisations of the country. (PTI) |
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Tokyo stocks mixed, techs boosted by US ruling TOKYO, Dec 13: Tokyo stocks ended Wednesday mixed, with high-techs such as Softbank Corp cheered by a rise in US stock index futures after a Supreme Court ruling, and the broad market sobered by a weaker-than-expected corporate poll. The Nikkei average firmed 54.04 points or 0.36 percent to 15,168.68, but losers outnumbered gainers 756 to 513 on the Tokyo Stock Exchange’s main board, and the Topix Index fell 0.77 points or 0.06 percent to 1,392.90. The Nikkei had ended the morning session down but turned higher after march NASDAQ futures traded on Globex climbed in response to the Supreme Court ruling, which appeared to move Republican George W Bush closer to the US presidency. NASDAQ’s march contract rose 85 points to 3,005 by the end of Tokyo trade. "All eyes were on Globex," said Hidenori Kawasaki, General Manager of Equities Trading at Kokusai Securities. "It looks like the Tokyo market’s entering a rebound but it still needs the support of a firmer US market." Softbank, invested heavily in several internet firms listed on NASDAQ, jumped 560 yen or 11.02 percent to 5,640. It had briefly slid to an 18-month low in the morning, adding to its 15 percent slump of the past four sessions. It has fallen more than 90 percent from a February high on global worries over the outlook for internet stocks. (REUTERS) |
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OPEC output cut possible in 2001 if prices fall RIYADH, Dec 13: OPEC could move to curb production in early 2001 if oil prices continue their steep decline, OPEC Deputy Secretary-General Shokri Ghanem said in remarks published on Wednesday. Ghanem told Saudi Arabia’s Arabic-language Al-Watan newspaper on Tuesday that the possibility of an OPEC output cut at the beginning of 2001 "would depend on a sharp drop in world oil prices". He attributed the recent decline in prices - which has brought the price of OPEC’s basket within the Cartel’s 22- 28 a barrel target range - to adequate supplies of oil products, warmer-than-expected temperatures in the northern hemisphere and a surplus in the oil market following the Cartel’s four output increases. He said supply would continue to exceed demand, especially if Iraq resumed its exports at the end of December. "Ghanem expected more pressure on prices with the return of Iraq to the market," the newspaper said. Several members of the organisation of the petroleum exporting countries, which added 3.7 million barrels per day (BPD) to global supplies to cool then overheating pries, have called for cuts to be enacted when the cartel holds a scheduled meeting on January 17. Ghanem said his term as OPEC’s Deputy Secretary-General would end in July and that the Cartel had started receiving nominations for the post. He voiced hope that an agreement on the post would be reached in February. (REUTERS) |
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