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| Online Share Shoppee inaugurated in Jammu Excelsior Correspondent JAMMU, Dec 14: A renowned businessman of Jammu, K R Mahajan has ventured into online trading of Shares.....more EU formulating plan BHUBANESWAR, Dec 14: The European Union (EU) is keen to help develop Orissa’s handicraft sector and is formulating a detailed plan of...more
‘Difficult reduce
non-plan NEW DELHI, Dec 14: The railways may not be able to achieve the targetted 10 per cent reduction in non-plan expenditure due to nature of operations ...more EU to contest WTO BERLIN, Dec 14: The European Union (EU) will contest a ruling given by the World Trade Organisation (WTO) in favour of India against the imposition of .......more |
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Uttaranchal
to DEHRADUN, Dec 14: In a significant decision to generate a revenue of Rs 208 crore per year, Uttaranchal Government has decided to develop its own .....more Alcatel and Tata telecom NEW DELHI, Dec 14: Birla AT and T, cellular operators in Gujarat and Maharashtra has selected alcatel for the expansion of its mobile backbone......more
Viability assessment NEW DELHI, Dec 14: The viability assessment of each of the 119 mills of the National Textile Corporation (NTC) has begun with a view to modernise ....more Cong seeks immediate NEW DELHI, Dec 14: Mr Suresh Kodikkunnil(Congress) today sought immediate action to save the tea industry and the tea plantation workers.....more |
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Online Share Shoppee inaugurated in Jammu Excelsior Correspondent JAMMU, Dec 14: A renowned businessman of Jammu, K R Mahajan has ventured into online trading of Shares on National Stock Exchange after successfully establishing NIIT, the premier computer training institute in Jammu Tawi. President Chamber of Commerce and Industries, Ram Sahai inaugurated the trading centre in the name of JK Online Share Shoppee by pressing the first computer button at the start of National Stock Exchange business at 9.55 am and became the first prominent client. The fast upcoming concept of Online Trading of Shares was the need of the City of Temples. This trading centre will cater to the needs of all the colonies and old city as this is on the main road and in the heart of the city. Subash Mahajan, Managing Partner of the Trading Centre stated that various financial services shall be rendered to the public such as mutual funds, tax free and other bonds, UTI policies and shares of primary market. Among others who were present on the occasion included R K Sharma, Managing Director Jammu Central Cooperative Bank Limited, Ashok Goswami, Managing Director Citizen’s Cooperative Bank Limited, S K Samnotra of Jammu Shares and Stocks Private Limited and Col Dogra. |
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EU
formulating plan of action for Orissa’s BHUBANESWAR, Dec 14: The European Union (EU) is keen to help develop Orissa’s handicraft sector and is formulating a detailed plan of action, according to Michel Caillouet, Ambassador of the delegation of European Commission in India. Orissa’s handicrafts, in the broader context of Indian handicrafts, were well appreciated in EU markets and "we are exploring possibilities for better benchmarking and marketing of the products", Caillouet told reporters here yesterday. A support project for the handicraft sector here would be announced soon, he said. Elaborating on the EU’s future plans in Orissa, Caillouet said initiative could be undertaken in five broad categories including emergency cooperation, trade and investment, educational programmes, urban development and environment. The Ambassador said that a relief package of over one million Euro, organised by the European Community Humanitarian Office (ECHO), to help alleviate the effects of the severe drought in western Orissa was likely to be approved soon. The ECHO had disbursed around Euro 7.2 million as humanitarian aid in the state through its partner NGOs in the aftermath of the super cyclone last year, he said. (PTI) |
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‘Difficult reduce non-plan expenditure in Railways’ NEW DELHI, Dec 14: The railways may not be able to achieve the targetted 10 per cent reduction in non-plan expenditure due to nature of operations and increase in input costs, Minister of State for Railways Digvijay Singh told the Lok Sabha today. Replying to questions, he said large part of the non-plan expenditure pertains to fuel costs, repair, maintenance and lease charges. Fuel costs and electricity tariff have increased recently and hence, it may not be possible to comply with the Finance Ministry’s directive to reduce non-plan expenditure by 10 per cent, he said. Mr Singh said however that Zonal Railways have however, been directed to effect savings totalling Rs 865 crores during the current fiscal. Railways have programmed regulating plan expenditure to provide cushion against possible shortfall in internal resources to achieve the targetted works, he said. Asset utilisation inventory management, fuel consumption and tapping non-traditional revenue sources have been planned to improve the internal resource generation as no drawdown has been envisaged during the current year, he said. The Railways have trailed by Rs.136.84 crores in revenue generation from targetted Rs.20124.08 crores till October 2000, Mr Singh admitted in the House. During the last fiscal year, the railways had overshot the revenue target by Rs 103.71 crores, he said. The railways have undertaken survey for electrification of the Barsat Hasnabad 52 kilometre route and 127 kilometre Krishnanagar Lalgola track in West Bengal, he said. Cost cum-feasibility survey report for Katwa-Azimganj is under examination of the Railway Board, he said. There is no proposal to take up electrification of the Bibinagar-Guntur Railway due to resource constraints and priority to electrification of other high density routes, he said. Mr Singh informed that railways was also considering opening a reservation office at high altitude township of Leh in Jammu and Kashmir. (UNI) |
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EU to contest WTO ruling on Indian textiles BERLIN, Dec 14: The European Union (EU) will contest a ruling given by the World Trade Organisation (WTO) in favour of India against the imposition of definitive anti-dumping duties on exports of cotton bed-linen from India worth Rs 400 crore. The 15-nation trade bloc announced its decision to appeal against the ruling of a three-member WTO arbitration panel at a meeting of the Dispute Settlement Body (DSB) of the Geneva-based organisation. "The report of the panel was on the agenda of the DSB meeting for adoption, but the EU is appealing against it," a WTO official said. An EU official in Geneva also confirmed that the ruling is being challenged. A larger seven-member appellate body will now hear the EU appeal and the case would take another six months to be disposed of by the WTO. The WTO had on November 1 backed New Delhi by ruling that EU’s imposition of anti-dumping duties on imports of cotton bed-linen from India violated free trade rules. The ruling was a major trade victory for Indian textile exporters, most of whom are in the private sector. The panel recommended that the EU be asked to bring its levy of anti-dumping duties into "conformity with its obligations under the Anti-Dumping (AD) agreement." The European Commission, the executive body of the EU, contended that the European textile industry had suffered declining profitability and price depression and had therefore slapped anti-dumping duties. India had challenged the imposition of these punitive duties as being incompatible with GATT rules. The duties had been imposed in several slabs ranging upto 24.7 per cent since November 28, 1997. The WTO had also ticked off the EU for "failing to explore possibilities of constructive remedies" before levying the anti-dumping duties. "The EU had acted inconsitently with the provisions of the AD agreement and has nullified or impaired benefits accruing to India under that agreement," the panel noted. It said that there was "infringement" of EU’s obligations assumed under the AD agreement in the present case. India had also complained that the EU "failed" even to consider India’s special situation as a developing country before imposing provisional anti-dumping duties on June 12, 1997. India has voiced concern on several occasions at various levels over the EU’s actions in frequently resorting to anti-dumping and anti-subsidy actions on a range of Indian imports saying they adversely affected Indo-EU trade. (PTI) |
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Uttaranchal to develop tea gardens DEHRADUN, Dec 14: In a significant decision to generate a revenue of Rs 208 crore per year, Uttaranchal Government has decided to develop its own tea gardens on 22,500 acres in the newly formed state. "We are developing our own tea gardens on an area of 22,500 acres in the newly carved state. When we develop our own tea, we can generate an income of Rs 208 crore per year", R S Tolia, Forest and Village Development Commissioner, told reporters here after a meeting of the state cabinet. The Tea Board, the apex body of tea growers in India, has already given an assurance to financially support tea gardens in Uttaranchal, Tolia said. "The tea gardens will open new avenues of employment in the state," Tolia said. A loan of Rs 74 crore would also be availed for developing tea gardens, Tolia said. (PTI) |
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Alcatel and Tata telecom bag $ 12 mln contract NEW DELHI, Dec 14: Birla AT and T, cellular operators in Gujarat and Maharashtra has selected alcatel for the expansion of its mobile backbone network by next year. The contract is worth 12 million dollars. Alcatel will supply its state-of-the-art microwave radio equipment and Add Drop Multiplexers (ADMs) to increase the existing network capacity by about four times. As part of the agreement, Alcatel will also provide its network management system, a complete and powerful platform to provide continuity of transmission along the backbone. Along with Alcatel, Tata Telecom will supply local equipment—including antennas and other installation material and will also carry out the site survey, civil construction and maintenance. This project is a major step in Birla AT and T’s development as it helps the company to expand its network capacity and pave the way to provide GPRs and 3G technologies’’, CEO of Birla AT and T, Sanjeev Aga said. The network will initially extend for approximately 1000 km in the country. Alcatel India will be the lead project manager and will provide installation and commissioning of the whole network. (UNI) |
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Viability assessment of each of 119 mills of NTC begins NEW DELHI, Dec 14: The viability assessment of each of the 119 mills of the National Textile Corporation (NTC) has begun with a view to modernise them and to revive the sick ones, Textile Minister Kashi Ram Rana told the Lok Sabha today. Replying a several queries raised by the members during the question hour. The minister said the Government had reversed the 1995 decision to close some mills. As many as 25 mills were earning profit, 51 were partially functioning and the rest were sick, he said. Answering a specific question the minister said the Government was proposing to sell out the excessive land of NTC mills in Maharashtra and the amount thus realised would be spent on the modernisation of the mills. The Textile Ministry was yet to take any decision on the introduction of the ‘Golden Gandshake’ VRS scheme for the NTC employees, he said. The minister also refuted apprehensions raised by some members that the production of course cloth for the poor had come down in the country with the economic liberalisation. He informed the house that the production in handloom of course cloth of 20 or more count increased from 6792 sq m in 1998-99 top 7250 sq.m in 1999-2000 while in the powerloom sector the production touched 6304 sq.m in 1999-2000 from 6277 sq.m in the previous year. Besides this, the Government had been providing export concessions and facilities to promote handicraft exports. As many as 6181 units had registered with Export Promotion Council for handicrafts for this purpose. Replying to a question by Mr Zora Singh Mann on the modernisation of the textile industry, the minister said a technological upgradation scheme had been created for the purpose. The minister also informed the House the liberalisation and allowing of 100 per cent FDI in the garment sector would not have a adverse impact on domestic employment in this sector. (UNI) |
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Cong seeks immediate action to save tea industry NEW DELHI, Dec 14: Mr Suresh Kodikkunnil(Congress) today sought immediate action to save the tea industry and the tea plantation workers who were facing a serious crisis following a crash in tea prices and liberal imports. Raising the matter during zero hour in the Lok Sabha he said tea prices had fallen from Rs 69 to Rs 43 a kg whereas the cost of production was Rs 60. This has created a serious situation in the south Indian tea sector where more than 50,000 were small growers.Lakhs of workers, majority of whom were women and dalits, were facing an uncertain future as many plantations were on the verge of closure, he said. Growers of rubber and coffee were also facing serious problems and the Government should take immediate steps to protect them, he said. (UNI) |
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