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| Moral Overseas Ltd celebrates Annual Day Excelsior Correspondent JAMMU, Sept 2: The third annual day, first of the new millennium of Maral Overseas Limited (A company of LNJ Bhilwara......more GM drives up growth track, NEW DELHI, Oct 2: General Motors India Limited continued its drive up the growth chart, registering a 12.5 .....more DSIDC to open chain of NEW DELHI, Oct 2: Delhi State Industrial Corporation is to open a chain of franchisee cyber cafes across the capital which will function as centres of.....more
Russian President NEW DELHI, Oct 2: Russian President Vladamir Putin will chart out the course of Indo-Russian economic cooperation when he addresses over 350 leading Indian industrialists at a joint ...more |
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Benadryl
Cough Formula moves OTX India's No.1 non-narcotic cough formula-Benadryl, which has been prescribed by doctors for over 50 years, will now be an OTX product. OTX is a mix of prescription (Rx) and over-the-counter (OTC).........more
Govt to formulate SHIMLA, Oct 2 : The Government would soon formulate its new foodgrains policy to address the ..........more Bihar Congress PATNA, Oct 2: The Bihar Congress unit today staged ‘Satyagraha’ in front of Raj Bhavan to protest .......more Russian duty differential MUMBAI, Oct 2: The export of bulk tea from India to Russia has been affected severely in recent.......more |
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Moral Overseas Ltd celebrates Annual Day Excelsior Correspondent JAMMU, Sept 2: The third annual day, first of the new millennium of Maral Overseas Limited (A company of LNJ Bhilwara Group) was celebrated with gaiety and enthusiasm on the auspicious day of Gandhi Jayanti today at its plant Bari Brahmana, Jammu. Around 1400 participants attended the function which included workers, operators, staff and their families. The function concluded with the community lunch. Mr Anil Gandotra, CEO & President presided over the function and conveyed good wishes and congratulations on behalf of the entire Jammu team and also conveyed the inspiring message of the Group vice-Chairman, Syt Shekhar Agarwal. Mr Gandotra laid emphasis on the need to further enhance the quality in terms of product, delivery and cost looking to the fast changing scenario in the global market. He however, complemented the entire team for maintaining the consistency in the quality of the product in both, exports as well as domestic market. Swami Girijeshananda Maharaj, Secretary of Ramakrishna Mission, Jammu was the chief guest. While congratulating the entire team for this day he attributed through the words of Bapu Ji that it was Swami Vivekananda who saved our religion and our country. He also paid tributes to late Prime Minister, Lal Bahadur Shastri whose birth anniversary also falls today. The employees of the unit were felicitated in various areas related to Discipline, Long services, Innovative ideas, Best worker/Best staff awards and other extra curricular activities including games and cultural programmes. All the employees pledged to work as cohesive team with the feeling of brotherhood, sense of belongingness, sincerity, diligence and honesty for achieving the ultimate objects of the organization. |
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GM drives up growth track, to get new India head NEW DELHI, Oct 2: General Motors India Limited continued its drive up the growth chart, registering a 12.5 per cent surge in sales in September at 1,163 units from 1,038 units a month ago, even as the company is preparing to get a new head this month in Aditya Vij. Aditya Vij will be taking over as Managing Director of General Motors India from Richard Swando this month, GM India Vice-President (Corporate Affairs) P Balendran told UNI here today. The company attributed the surge in sales to the growing demand for its recently introduced Opel Corsa and the refurbished Opel Astra. During the month, the company sold 748 units of Corsa and 15 units of Astra, representing a 10.8 per cent and 14.3 per cent growth respectively over the sales in August. GM India had sold 675 units of Astra and 363 units of Corsa in August this year. September sales of Astra also mark a 34.3 per cent growth over the 309 units the company sold a year ago. This is the second month in succession after three years that the indian subsidiary of the world’s largest carmaker has recorded sales over the 1,000-unit mark. "Sales are now beginning to look up on growing demand for our cars. The recently introduced GSI version of Corsa is pulling in a lot of demand," Mr Balendran added. (UNI) |
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DSIDC to open chain of franchisee cyber cafes NEW DELHI, Oct 2: Delhi State Industrial Corporation is to open a chain of franchisee cyber cafes across the capital which will function as centres of e-governance and an interface between the people and the various Government agencies. One such cyber cafe came up recently in pitampura in northwest Delhi while four more are to be opened this month and another 20 by March next year. "The cyber cafes will have a large dedicated bandwidth and operate on optical fibre cables, independent of telephone lines, for foolproof operational efficiency," DSIC Chairman and Managing Director J P Singh said. He said DSIC was in touch with Government agencies like the Delhi Vidyut Board (DVB) and Delhi Jal Board so that people could pay their bills from these cafes. He said 17 viable commercial areas had been identified to locate the cyber cafes. The DSIDC will take Rs 30,000 upfront of each cafe owner and provide all kinds of technical support besides helping them with soft loans from the Delhi Finance Corporation. "We have already shorlisted 23 people who have come up with their proposals," he said. The Corporation will not have any revenue sharing arrangement with the cafe owners. "We will charge them a yearly subscription," Mr Singh said. He said the cafes will be powered by internet service provider, spectranet, which has been approved by DSIDC. Mr Singh said DSIDC has also planned to set up an information, communication and entertainment park in an area of 40 acres in narela in west delhi and is in the lookout of a partner for the joint venture in which the corporation will have a minority share. "We will provide the land and the selected company will have to develop it," he explained. "We are looking for NRIs and multi-national companies," he added. The park may be used for call centres, image processing and transcription, back office operations, revenue accounting, data entry and processing, web content development, computer software and development and other services. Mr Singh said the Tatas, Larsen and Toubro and a Dutch firm have shown interest in the project. The DSIDC will await response till the stipulated date of October 31 before finalising the project. (UNI) |
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Russian President to
address joint business NEW DELHI, Oct 2: Russian President Vladamir Putin will chart out the course of Indo-Russian economic cooperation when he addresses over 350 leading Indian industrialists at a joint business meeting in Mumbai this week. Finance Minister Yashwant Sinha will chair the business meeting, which is being jointly organised by the Confederation of Indian Industry (CII) and Federation of Indian Chambers of Commerce and Industry (FICCI) on October five. The meeting would focus on strengthening economic ties between the two nations and explore possibilities of enhancing cooperation in areas including financial services, information technology, biotechnology and pharmaceuticals, a CII statement said here today. "The two countries need to explore opportunities to form joint ventures to not only tap the large markets in both the countries but also to target other markets such as Europe, US and Asia," the chamber said. The two countries should aim to reach a target of five billion dollars in bilateral trade by 2005, CII said. The meeting would be attended by 350 CEOs and senior representatives of the industry including the CII president Arun Bharat Ram and FICCI president G P Goenka. Maharashtra Chief Minister Vilasrao Deshmukh and Secretary to the Prime Minister N K Singh will also attend the "Indo-Russian economic cooperation" meeting. (PTI) |
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Benadryl Cough Formula moves OTX India's No.1 non-narcotic cough formula-Benadryl, which has been prescribed by doctors for over 50 years, will now be an OTX product. OTX is a mix of prescription (Rx) and over-the-counter (OTC). Parke-Davis has adopted this dual approach to promote the product wherein they will continue to seek doctor prescriptions and at the same time use mass media to reach out to people at large. Benadryl Cough Formula (BCF) is being advertised for the first time in its history of 50 years, in India. BCF is now available in a new PET bottle thus minimising the possibility of cheap duplicates, misrepresenting the trusted brand. The look has been changed to give it a more contemporary look and some of the visual elements of the international label have been incorporated without disturbing the original colours of the brand. Priced at Rs 35, Benadryl Cough Formula is available in 100 ml PET bottles. It is available in Raspberry flavour. The active ingredient of BCF acts on the inflamed part of the throat and the 'cough centre', thus reducing intensity of cough. Unlike many other cough formulations in the market, Benadryl Cough Formula does not contain any narcotics i.e. habit-forming substances like codeine and is safe as compared to codeine. Says Dr Verlekar of Mumbai, ''On the first signs of cough, patients can take preparations that are non-habit forming. Some cough formulations contain codeine, which has many undesirable effects like addiction, respiratory suppression, constipation, etc. However, definitive treatment of cough depends on diagnosing the underlying cause and then prescribing medication. It is advised that any cough lasting for more than a week should brought to the notice of a doctor.'' UTI DECLARES INCOME DISTRIBUTION * Maiden Income Distribution of Rs 1.60 per unit under US 92 * Income Distribution of Rs 1.50 per unit under MEP 99 Unit Scheme 1992 (US 92), a close-ended equity scheme, was launched in November 1992 to provide long term capital appreciation through selective investment in a diversified portfolio. The Board of Trustees announced a maiden income distribution of Rs 1.60 per unit (face value Rs 10/- per unit). The book closure is from 9th to 13th October 2000 (Record date is fixed as 13th October 2000). The NAV of US 92 as on 22nd September 2000 was Rs 18.49 per unit and the total funds under management were Rs 131.14 crore. In the last one month the scheme's NAV has appreciated by 0.05% as against a 2.68% decline in the BSE Sensex. CAGR since inception in the NAV is 8.17% as against a 7.09% growth in the BSE Sensex as on 22nd September 2000. NAGPUR BENCH DISMISSES CASE AGAINST UTI'S RAJLAKSHMI UNIT SCHEME The Nagpur division bench of Mumbai High Court, consisting of Mr Justice J N Patel and Mr Justice S G Gundewar, today dismissed a writ petition challenging the termination of Rajlakshmi Unit Scheme 1992. The court, inter-alia, observed that they did not find the Unit Trust of India's decision to terminate the scheme as malafide. The Hon'ble Court has also noted that termination of the scheme is in the interest of the investors. Further, it is clarified that no stay has been granted by the Hon'ble Mumbai High Court. As directed by the Court, UTI will be filing its affidavit by 9th October 2000. Earlier, it had been reported that the Hon'ble Mumbai High Court has granted a stay on the termination of Rajlakshmi Unit Scheme 1992 on a public interest litigation. RUS-92 was launched at the dawn of economic and financial sector reform period in 1992 and was open for sale during October 1992 to October 1993. It offered an implicit return of 16.16% to 16.75% based on estimated returns available from capital market instruments then. Under the changing economic scenario, the rate of return of 16.16% to 16.75% implicit under the scheme is not maintainable. Therefore, after careful consideration and in line with the scheme provisions, the Trustees of UTI decided to terminate the scheme with effect from 1st October 2000. However, UTI has ensured that all investors under the scheme would be paid the implicit promised return ranging from 16.16% to 16.75% upto 30th September 2000 i.e for the maximum period of 8 years since the scheme has been in operation. RUS- 92 investors have been given choice to either get the terminal proceeds or invest the same in either Children's Career Plan (CCP), a scheme with similar objectives or any other scheme of UTI Reflecting investor confidence in schemes of UTI, nearly 50% of the investors who have responded to UTI's letter so far have opted to invest in CCP. |
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Govt to formulate foodgrains policy soon: Shanta Kumar SHIMLA, Oct 2 : The Government would soon formulate its new foodgrains policy to address the problem of surplus stocks, replacing the present one tailored to tackle the problem of shortages, Union Minister for Consumer Affairs Shanta Kumar said here today. He told reporters that an expert committee would be set up to give recommendations regarding the new policy which would be free from ‘undue controls and restrictions’. Laws like Essential Commodities Act, Price Control Act and those to check hoarding and profiteering were enforced to ensure there was no black marketing and hoarding of foodgrains in ‘scarcity conditions’, he said. But there was no relevance to these restrictive measures when the Government was facing the problem of plenty and storage of surplus foodgrains had become a big problem, he added. Kumar said proposals like a common foodgrain zone for the entire country and completely exempting foodgrains from taxes would also be considered by the expert committee. He said the Government had decided to go in for export of foodgrains to grapple with the problem of surplus stock and a cell had been created in his Ministry to identify the countries where foodgrains could be exported. While 40,000 tonnes of foodgrains had already been exported, export orders of three to 3.50 lakh tonnes were in pipeline and a target of exporting 10 lakh tonnes of foodgrains had been fixed, he said. (PTI) |
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Bihar Congress stages Satyagraha against petro hike PATNA, Oct 2: The Bihar Congress unit today staged ‘Satyagraha’ in front of Raj Bhavan to protest against hike in the prices of petroleum products and threatened statewide agitations if the Centre did not roll back the hike. A delegation, led by the BPCC president, Chandan Bagchi, later called on Governor V C Pande and submitted a memorandum demanding immediate rollback of the hike in petro price. Addressing Congressmen on the occasion, Bagchi announced that the party would soon launch statewide agitations to protest against the Centre’s "anti-people decision". He alleged the Centre had taken the decision at the behest of big industrial houses and the RSS. Former Bihar Assembly Speaker Radhanandan Jha, senior Congress leaders Mahacandra Prasad Singh, Ramashray Prasad Singh, K K Tiwari, Prem Chandra Mishra, Sanjiv Prasad Toni and Awadhesh Kumar Singh participated in the ‘Satyagraha’. (PTI) |
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Russian duty differential badly affects tea export from India MUMBAI, Oct 2: The export of bulk tea from India to Russia has been affected severely in recent months due to wide differential import duty structure in Russia. According to industry sources, there has been gradual decline in export of bulk tea from India because other tea growing countries like Sri Lanka, China, Indonesia and Argentina are supplying bulk teas at cut-throat entry prices (5 per cent duty) and make packages of tea at the blending and packing plants in Russia for local sales. At the same time, Indian exporters are paying 15 per cent duty on exporting packet tea and tea bags since they do not have any blending or packaging factories in Russia to take advantage of lower duty on bulk tea import. The duty differential of 11.25 per cent forced many tea companies from other developing nations to set up their blending plants in Russia while Indian traders continued to suffer the losses in export growth of packet teas which is traditionally very popular among the Russians. Sources said that the duty differential between the raw material and finished product for tea in Russia is in the ratio of 1:4 1:4 as against the average ratio of 1:2 and 1:1 in case of similar other commodities like coffee and rice. This is totally discriminatory and affecting the bilateral trade understanding between the two nations, said a leading tea exporter in Mumbai. There is a bilateral trade arrangement for export of goods from India to Russia towards liquidation of the rupee debt owed by India to erstwhile USSR. Tea is one of the major commodities amounting to 90,000 tonnes exported from India to Russia under the rupee credit arrangement. The consequences of sharp decline in export of Indian tea to Russia have led to mass agitation recently by small tea growers in South India and growers from Assam have dumped their green leaves without processing arising out of uneconomic prices. To correct the situation, exporters felt that the Indian Government must emphasise the need to narrow down the duty differential before the Russian Government since tea is an important commodity in Indo-Russian trade. It would help a great deal if tea sourcing by Russia from India is encouraged in the context of overall economic relationship between the two nations, they added. (UNI) |
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