|
|
Ford eyeing stake in DETROIT (US), June 21: Ford Motor Company (FMC) of the United States is planning to enter into strategic alliances....more Niti Tel offers high-tech MUMBAI, June 21: Mumbai-based Niti Telecom Consultancy has said it is now offering high-tech web-based communication ....more 23 banks offer Rs 7,000 cr NEW DELHI, June 21: As many as 23 leading banks and financial institutions including ICICI, IDBI and State Bank of India have offered...more Govt may offload stake in NEW DELHI, June 21: Government is considering a proposal to sell part of its stake in software PSU CMC limited to a strategic partner instead of ....more |
 |
‘India’s concern NEW DELHI: June 21: Union Commerce Minister Murasoli Maran ........more Grasim chalks out strategy to remain amongst top 3 CALCUTTA, June 21: Grasim Industries Limited, the Aditya Vikram .....more Developing nations NEW DELHI, June 21: The vast digital divide between developing and ....more
Ministries of Steel, Power NEW DELHI, June 21: Ministries of Steel and Power have joined hands ....more |
 |
|
|
|
Niti Tel offers high-tech web-enabled communications MUMBAI, June 21: Mumbai-based Niti Telecom Consultancy has said it is now offering high-tech web-based communication systems linking land, sea and air based systems. "This time we are targetting the police force to use our networks," Mr Nitin Kedia, who heads the multi-crore group told UNI here. He said with the technology moving at a fast pace the company has designed and branded "caravan" — a web-enabled product for high tech fool-proof networking which can be used effectively by Defence and Home Ministries for their communications. The company will also target corporate clients with caravan —which is an intranet communications server. He said that with the communications and internet culture booming — the target audience are the corporate clients, who are increasingly using the communications network for telecom services including video conferencing and web-enabled interaction. "Already a start has been made and we are going to further expand our operations," he said. "In critical areas our products are best suited than our competitors," he added. Talking about the Indian Navy’s project, company’s vice president Vivek Astunkar, who is a retired air force officer, said that the product enables various Indian naval ships and aircraft to send messages through Inmarsat, Dialup and Radio Modes. It also has a land-based control room which monitors the entire massaging system. Both for Western Naval Command and Eastern Naval Command — a total of 18 ships and seven aircrafts have been covered. He said that it runs in the foreground along with the AMMS in the background — which is used for creating messages and files, encrypting and decrypting and then transmitting it to the user end. "It has emerged as one of the best systems across the globe and a continuous research and development has been involved to create and improvise web-enabled products," says Mr Kedia. Niti Telecom Consultancy supports a variety of communication channels like dial-up, leased lines, V-SATs, Inet, Rabmn, Radio Modems and Teleprinter lines — and very recently following the trends of convergence they have merged this product for web-enabled techniques. "Be it sea, land or air — our products will work on each and every mode," he said. While for the Western Naval Command the network has been installed for the Indian Navy tactical evaluation group, the Eastern Naval command’s weapons acceptance and trial team uses the product. For the Indian Army, the product is being used by the wireless experimental centre. The company has also send a proposal to the eastern airforce command for a communication-based system. The wireless experimental centre using their product allows on-line encryption and decryption of messages. It facilitates to send messages at high speed (more than 9,600 bps) to the Sena Bhavan and it is successfully being used in as many as five locations. The Central Reserve Police Force (CRPF) is also using Niti products for internal training on communication systems and languages. The Niti Telecom has expanded the present wide area network as a value addition for the directorate of co-ordination, police wireless. In 22 locations it is being used. The Intelligence Bureau is also using the products of the company. What is more unique about the product is that if a line disconnects during a file transfer, then retransmission of the file starts from the point of breakage, automatically. As part of its expansion plan, the company has now targetted the police force across the country to use their products. "Security is the most important part of the network, he said, adding that the company is also moving towards implementing fibre-optics enabled products. Radio communication, for which the police network is ideally suited, is one of the specialised areas of the Niti group. To add feather to its cap, Niti Telecom has also launched "indiaclassifieds.Com", a web-based product, which enables one to place an advertisement in any newspaper across the country. "People need not have to walk down to various agents, but directly place ad on the web," says Mr Astunkar, who also looks after the indiaclassifieds.Com. (UNI) |
|
23 banks offer Rs 7,000 cr credit to Petronet-LNG NEW DELHI, June 21: As many as 23 leading banks and financial institutions including ICICI, IDBI and State Bank of India have offered upto Rs 7,000 crore credit to Petronet LNG to ensure imports of liquid fuel from July 2003, Petroleum Secretary S Narayan said today. "We have got offers of credit from 23 banks and financial institutions... We are in the process of shortlisting them," he said here. Fresh from a visit to Doha, where he as chairman of the joint venture owned by oil and power PSUs met Rasgas-Mobil Consoritum, Narayan said he assured the liquid fuel supplier that India would start importing LNG from July 2003 and there would be no delay in creating necessary infrastructure for the purpose. Earlier this month, the Board of Petronet LNG, in which 50 per cent stake is owned by IOC, ONGC, BPCL, GAIL and NTPC, decided to avail bridge loan of Rs 1400 crore to finance construction of import facilities in Dahej, Gujarat, sources said. Narayan said that the company would decide on apportioning the remaining 50 per cent of the equity to its gas supplier rasgas mobil, the JV’s strategic partner Gaz De France, Gujarat Government and financial institutions. Sources said that Rasgas-Mobil and Gaz De France are likely to get 10 per cent equity each, Gujarat Government five per cent and the remaining would be with FIs and public. Company sources said that financial institutions like ICICI, Industrial Development Bank of India (IDBI) and infrastucture leasing and finance services had already evinced interest to participate in the holding company. Stating that total equity capital in the JV, being formalised to import a total of 7.5 million tonnes of Liquid Natural Gas (LNG) at Dahej and Kochhi, would be about Rs 1200 crore, Narayan said that National Thermal Power Corporation had signed the Memorandum of Understanding early this month to confirm 10 per cent equity participation. Asked about the conditions reportedly set by NTPC for a preferential treatment as buyer of fuel, he said that no partner was being given any preferential treatment. He said the company was doing technical evaluation of about 9 bids received for executing Engineering, Procurement and Construction (EPC) contract for five million tonne terminal at Dahej with an estimated investment of 500 million dollars. Narayan said as of now the company was not contemplating expansion of Dahej terminal to 7.5 million tonnes even though claiming that they had firmed up consumers for the fuel. He said that Kochhi terminal would be operational atleast one year ahead of scheduled 2005. (PTI) |
|
Govt may offload stake in CMC to strategic partner NEW DELHI, June 21: Government is considering a proposal to sell part of its stake in software PSU CMC limited to a strategic partner instead of coming out with a fresh equity issue, senior officials in Ministry of Information Technology (IT) said here today. "Government is keeping all options open. We may yet decide to offload our stake in favour of a strategic partner but nothing has been decided as yet," officials told PTI. When contacted, Managing Director of CMC S S Ghosh, however, denied any knowledge of this development. "As far as I know, our original plan stands," he said. As per CMC’s proposal, it urgently needs to raise upto Rs 200 crore through equity enhancement to meet its increased capital requirements for the next three years till 2003. CMC, in which the government currently holds 83 per cent equity stake, has decided to take the book building route for mopping up these additional funds, Ghosh added. "We are still awaiting the Government’s approval for adopting this route. Our proposal for equity enhancement of between Rs 170-200 crore is pending with the Government since December last year," Ghosh said. The PSU’s paid-up capital is currently stagnant at Rs 15.15 crore, and there was an urgent need for fresh funds if the company were to realise its diversification into areas like Information Technology (IT) education. Funds are also urgently needed for retaining manpower, ghosh said adding the attrition rate at CMC was "very high" and he was unable to attract talent except at entry-level positions. "We need money for offering attractive Employee Stock Option (ESOP) schemes among other things. Otherwise it is very difficult to attract talent since PSU salaries are unattractive," Ghosh said. He said the Union Cabinet had last year approved disinvestment in CMC upto 51 per cent. "Once we take the equity enhancement route, Government’s stake in CMC will automatically come down unless it buys shares proportionate to its desired holding," they added. Earlier this year, Government had said it would attain maximum revenue from reduction of its stake in CMC and divestment was likely to happen in fiscal 2000-01. (PTI) |
|
‘India’s concern over core labour standards vindicated’ NEW DELHI: June 21: Union Commerce Minister Murasoli Maran today said that India’s concern over linking core labour standards and environment with global trade has been vindicated by the 10th G-15 summit. In sharp contrast to the lack of support on these issues at the Seattle conference in November, a communique issued at the end of the summit yesterday reflected the realisation among developing countries of the great dangers in linking labour, environment, health and safety standards to trade. "The countries of the South have at last realised the danger of linking labour with WTO and raised their voice in concern at the Cairo meet," Maran told reporters here. Recalling the failure of G-15 Commerce Ministers to reach a consensus on WTO issues at the Seattle conference, he said "I find a sea change in the attitude of G-15 members now. While earlier only three or four countries were supportive of India’s stand, now for the first time a transcontinental group has come out explicitly against core labour standards. "What happened now is a great victory for India’s persuasion and position," he said. Referring to the non-implementation of the Uruguay round, Maran said "the message from the Cairo summit is loud and clear - readdress the implementation issue, then we go forward to the next round of multilateral trade talks. It is our legitimate demand." He termed as dismal the record on the issue of implementation of decisions and said the G-15 commerce ministers’ meeting in Kuala Lumpur in August would review the progress in this regard and if necessary form a committee. To a question, Maran said the G-15 countries would discuss removal of non-tariff barriers to boost trade among the member nations and added that Chile and Egypt had expressed keenness in trade pacts with India. Maran said Egyptian Premier Otef Ebeid, during a meeting with him, had sought Indian investment and expertise in the pharmaceutical, chemical and textile sectors. Meanwhile, during a meeting between Vice-President Krishan Kant and Egyptian President Hosni Mubarak here yesterday, the two sides agreed to indentify specific areas of economic cooperation under the Indo-Egypt Joint Commission, headed by the Foreign Ministers of the two countries, scheduled to meet in New Delhi later this year. (PTI) |
|
Grasim chalks out strategy to remain amongst top 3 CALCUTTA, June 21: Grasim Industries Limited, the Aditya Vikram Birla Group’s Rs 5000 crore company, has chalked out a three pronged strategy to remain amongst the top three producers and ensure profitable growth in future. Chairman Kumarmangalam Birla, in an address to shareholders, while reiterating that cement and fibre will be the focus areas going forward of the company, the former business will be the platform for building shareholder value in future. "Our strategy for cement is three-pronged-improve capital productivity, enhance margins and reduce costs further. We are excited about the growth opportunities in the cement industry. The positive outlook for the economy, accelerating levels of industrial activity and the expected augmentation in the housing sector augurs well," he said. He said improving capital productivity and optimising use of physical, brand and distribution assets was the first leg of their strategy and hope to achieve that by increasing market share in profitable regions, focusing on the retail segment and value added products and by expanding capacities cost effectively. "We will strengthen our logistics management to reduce freight costs and concentrate on further lowering of energy costs in future. To do so, use of alternative energy sources, increasing share of imported coal and better process control is the route chosen by us," he said adding Grasim will aim to retain its brands as "brand leaders" in their respective markets to ensure higher realisation and better margins. In essence, the company’s growth will be driven by the cement business and VSF will remain a key contributor to earnings in future. The expected positive outlook for the cement and VSF coupled with well crafted strategies will ensure improved volumes and profitability in our core area of operations and enable us deliver enhanced value in future, he said. Incidentally, in the previous fiscal company’s Viscose Stable Fibre (VSF) along with cement demonstrated significant improvement benefitting from a turnaround in the economy. The VSF division reported improved volumes due to better export of VSF based downstream products and concerted marketing efforts. Mr Birla, however, said regardless of this positive outlook, industry volumes were expected to grow only modestly due to the mature nature of the VSF industry. Profitability then will depend on improved asset utilisation and ability to pass on cost increases to customers. Dwelling on the future strategy to be adopted by the group as a whole, he said, "while in the past our portfolio focused heavily on capital-intensive manufacturing businesses, the future may see us move increasingly into knowledge-based, brand-management and service sectors, where again we will scout for a premium position-a position of leadership." "At the portfolio level, we will continue to look into some of the businesses that are futuristic and add to enhancing shareholder value," he said. Coming back to textiles business of the company, Mr Birla said the outlook remains challenging. The branded fabrics market is likely to remain stagnant and suffer from price competition even in the future. The domestic over-capacity, commoditisation of the suiting fabrics market and increasing preference for ready-to-wear products will heighten the pressure, he added. (UNI) |
|
Developing nations contribute just 27 pc to IT market NEW DELHI, June 21: The vast digital divide between developing and developed nations can be gauged from the fact that 20 of the world’s largest developing nations contribute only about 27 per cent to the global Information Technology (IT) market of 750 billion dollars. "The digital divide between developing and developed countries is massive and we must work towards bridging it," Professor Emeritus Ryokichi Hirono of Seikei University, Japan said at the regional roundtable conference of ESCAP (Economic & Social Commission for Asia & the Pacific) countries on IT and development in the capital today. Stressing the fact that it helps economic development, creates large number of jobs and ensures better governance hirono said despite all these benefits, the actual number of internet users is ridiculouy low. "Less than five per cent of the world population is a participant in the currently spreading internet revolution," he said adding this was a serious cause for concern. Worldover, there are 300 million internet users today with 1,5 lakh users being added daily; 220 million information technology devices are being used globally today and another two lakh are added daily, Hiromo said. Again, on the internet front, 1.8 billion web pages are on view in the world today and two million are being added to this number on a daily basis, the professor said. In the two-day regional roundtable, the 60 member escap meet is expected to discuss a host of issues for enabling better economic, social and developmental use of IT. In a background paper prepared for the conference, the members have proposed the formation of a national information index to measure the country’s preparedness in high technology areas like infotech and internet. The Commission has recommended systematic identification of issues in developing countries, including India, by publishing a single composite index of readiness for the digital era. The composite index would be the weighed average of the scores on identified parameters for evolving the country into a networked society, the UN Commission has said. Other proposals include "assisting countries to identify the areas where action is required and to carry out the necessary interventions based on the scores on individual parameters". (PTI) |
|
Ministries of Steel, Power join hand to bail out SAIL NEW DELHI, June 21: Ministries of Steel and Power have joined hands to help Steel Authority of India (SAIL) in divesting its power plants as part of its revival and restructuring programme. Power Secretary Ashok Basu and Steel Secretary A K Agarwal met recently at the former’s office to find ways for divestment of SAIL’s three captive plants totalling 542 mw. Amidst reports that there is some resistance from National Thermal Power Corporation (NTPC) to the SAIL’s proposal for forging JV for the operations of the plants, the two secretaries have suggested that NTPC Chairman Rajender Singh and SAIL chief Arvind Pande meet to sort out the issues. Highly placed sources said that the issues involved were so complex, including that of industrial relations, that the two Chief Executives would need atleast one week of constant meetings to settle the things. Basu, former Steel Secretary who had played a key role in getting an over Rs 8,400 crore bailout package for SAIL, had a separate meeting with NTPC chief Singh over the issue. NTPC team had visited one of the captive power plant of 302 mw at Bokaro, while they were not allowed to visit other two plants at Rourkela and Durgapur by the labour unions. Meanwhile SAIL had held various rounds of discussions with the trade union leaders over the issue, sources said adding that some of the leaders have mellowed down and their level of resistance reduced considerably. Government had approved an over Rs 8,400 crore bailout package for loss making SAIL stipulating financial and business retructuring in a time bound manner to enable the steel giant turn the corner in three years. SAIL is believed to have made an offer to NTPC even after receiving bids from private power giants Enron of US and BSEs in Mumbai on the grounds that employees would resist transfer of management control in the hands of private players. According to sources there might be resistence from NTPC over the absorption of employees working in captive power plants of SAIL. SAIL had offered that the joint venture company would operate the plants for a period of 15 years. SAI;, which had reported a loss of over Rs 1,700 crore during last financial year, was banking upon sale of captive power plants in a big way to raise financial resources to retire the debts. (PTI) |
|
|
