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| NIIT’s Bari Brahmana Centre head honoured Excelsior Correspondent JAMMU, Oct 20: NIIT Jammu region held their annual review meeting here on Thursday. Mr Sameer Kumar, Territory Head from NIIT Ltd, Delhi chaired the meeting. Key issues like test performance, quality control, revenue, latest innovations in teaching.......more SBI to launch ‘India millennium deposits’ LONDON, Oct 20: Buoyed by the success of the resurgent India bonds, the State Bank of India plans to launch ‘India Millennium Deposits’ (IMD) scheme tomorrow to mobilise two billion dollars from the Non-Resident Indians......more IPCA reports net profit NEW DELHI, Oct 20: After making higher provision of Rs one crore for taxation, IPCA Laboratories Limited has reported a net ....more
Ricetec withdraws 4 claims on basmati patent: Centre NEW DELHI, Oct 20: The Centre today informed the Supreme Court that export interest......more |
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Crude oil production NEW DELHI, Oct 20: Petroleum Ministry’s initiative to increase domestic......more
Maran clears HCL NEW DELHI, Oct 20: The Government today cleared a proposal of HCL......more Good demand for tea CALCUTTA, Oct 20: There was good demand for different tea varieties in .....more ‘Convergence’ of
3 NEW DELHI, Oct 19: Communication Minister Ram Vilas Paswan today said there is a strong .........more |
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NIIT’s Bari Brahmana Centre head honoured Excelsior Correspondent JAMMU, Oct 20: NIIT Jammu region held their annual review meeting here on Thursday. Mr Sameer Kumar, Territory Head from NIIT Ltd, Delhi chaired the meeting. Key issues like test performance, quality control, revenue, latest innovations in teaching etc were discussed in detail. Procedures like on-line classes, testing and TechEdge for the students were introduced for all the Jammu centres. Mr RK Sharma, the Master-Franchisee, warmly welcomed the various franchisees to the meeting - Col Prem Singh - Bari Brahmana, Mr Chagger Singh - Kathua, Mr Sambyal - Samba, Mr Jogesh Banal - Akhnoor and Udhampur, Mr Surinder Kumar - Muthi, Mr Amit Sharma, Mr Dalip Kohli - R S Pura and Mr Rakesh Kumar - Katra. Mr Sameer Kumar in his address said that the quarter 4 net profit growth accelerated to 70%. NIIT also added 97 new customers to its list. Over 10,000 students had been placed in 4,000 companies over the last 9 months. NIIT enhanced its education centres by a whopping 564 education centres in the year 1999-2000. With these additions NIIT now has a network of 1979 education centres spread in 35 countries, he added. NIIT’s Bari Brahmana centre was lauded for imparting quality education to over two hundred students in a short span of one year. The centre showed a growth of 108% in terms of collection and 104% in terms of registrations. This made the centre as one of the highest revenue collector among over 130 centres in rural areas spread over entire north region. Director Bari Brahmana Centre, Col Prem Singh said that they had introduced various schemes like free internet surfing for students on Sundays, weekly feedbacks, mock tests etc. to bring up the caliber of the students in the region. |
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SBI to launch ‘India millennium deposits’ LONDON, Oct 20: Buoyed by the success of the resurgent India bonds, the State Bank of India plans to launch ‘India Millennium Deposits’ (IMD) scheme tomorrow to mobilise two billion dollars from the Non-Resident Indians. The five-year foreign currency denominated deposit will be opened to NRIs, Overseas Corporate Bodies (OCBs) and banks acting as fiduciaries, Ashok Mukund, chief manager of SBI, London, told PTI here today. The scheme will be launched on October 21, and deposit acceptance ends on November 20, the earliest closing slated is October 31, 2000. Highlights of the scheme are: Coupon rate US dollar 8.5 per cent per annum: Great Britain Pound (GBP) 7.85 per cent per annum: and Euro 6.85 per annum: Can be held jointly with NRIs/Indian residents: Full repatriation benefits for both principal and interest to NRIs and OCBs: Interest payment as half-yearly income or cumulative option. Other features include exemption from income and wealth tax in India. Tax benefits will also be available to transferees, donees, returning NRIs and survivors, and transferable amongst NRIs/NCS. (PTI) |
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IPCA reports net profit of Rs 16.88 crore NEW DELHI, Oct 20: After making higher provision of Rs one crore for taxation, IPCA Laboratories Limited has reported a net profit of Rs 16.88 crore up six per cent for the half year ended September 30, 2000 as against Rs 15.94 crore for the corresponding period in the previous financial year. The company also declared an interim dividend of 35 per cent for the financial year 2000-01 as against 30 per cent in the previous year. The total income for the period went up by 11 per cent to Rs 197 crore as compared to Rs 177 crore for the corresponding period last year. The profit before tax has gone up by nine per cent to Rs 17.68 crore as against Rs 16.34 crore in the corresponding period of the last financial year, IPCA Laboratories said in a press release here today. (UNI) |
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Ricetec withdraws 4 claims on basmati patent: Centre NEW DELHI, Oct 20: The Centre today informed the Supreme Court that export interest stands fully protected with multinational Ricetec Inc withdrawing four claims on the patents of this rice grain. Counsel for the Centre informed a three-judge bench comprising Chief Justice A S Anand, Justice R C Lahoti and Justice Brijesh Kumar that the withdrawal of claims took place after Agricultural Produce Export Development Authority (APEDA) filed an appeal before United States Patents and Trademarks Office (USTPO). "With this India’s export interest in the basmati rice to US stands completely protected," he said during the hearing of a petition filed by the Research Foundation for Science, Technology and Ecology which criticised India for delaying challenge to the basmati patent in America. However, the counsel made it clear that India was not satisfied with the withdrawal of these four claims and would go ahead with its petition before the USPTO. Criticising the Government for filing the petition after a delay of two years, the petitioner had alleged that "even if India succeeds at USPTO, it will not prevent Ricetec from continuing to call its rice strain a `basmati-like’ or `basmati strain’." Explaining the two year delay, Government had said it had formed a nodal group Under Secretary of Department of Industrial Policy and promotion to formulate a strategy to challenge the grant of patent to Ricetec. Ministry of Commerce and Industry in its affidavit had said the primary claim of Ricetec in the patent related to the capacity to grow a particular strain of rice in US and Mexico using what was claimed to be their developed rice seed. "This claim does not, in any manner, affect any Indian interest as such," the Government said and added "various other claims as to the characteristics of the rice which would be produced utilising Ricetec’s rice seed have also been made which again do not affect Indian commercial interest". The Centre today said it would not allow any attempts to misappropriate the rights of India over basmati. "India’s prized geographical indications and intellectual property rights are not up for grabs," it said. (PTI) |
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Crude oil production shows rising trend NEW DELHI, Oct 20: Petroleum Ministry’s initiative to increase domestic crude oil production has started yielding results with crude production rising marginally to 2.682 million tonnes in September as compared to 2.674 million tonnes in the same period last year. However, the cumulative crude oil production of 16.224 million tonnes during current fiscal was one per cent lower than the production of 16.387 million tonnes attained during the corresponding period of the previous year. Petroleum Minister Ram Naik has asked Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) to step up production by five million tonnes during the remaining period of the current fiscal to arrest the declining production and reduce dependence on imports. (AGENCIES) |
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Maran clears HCL Technologies’ Rs 2250-crore ADR issue NEW DELHI, Oct 20: The Government today cleared a proposal of HCL Technologies Ltd for raising, through the American Depository Receipts (ADRs), Rs 2250 crore to be invested in establishing software development units. The proposal was cleared by the Minister of Commerce and Industry Murasoli Maran after it was recommended by the Foreign Investment Promotion Board (FIPB). HCL Technologies, the flagship firm of the Noida based HCL group, will set up the software development centres under the Software Technology Park (STP) scheme of the Government. The company which has 29 offices in 14 countries employs a total of 3300 information technology professionals. Besides, the HCL Technologies’ ADR issue, Mr Maran also cleared the proposal of Honda Siel Car India Ltd for increase in the foreign capital from 90 per cent to 99 per cent with pumping in of the additional funds of Rs 14.40 crore. With Honda Motor Corporation of Japan getting permission for additional company, the Honda Siel Car India Ltd has become almost a fully owned Japanes company. Sidhharth Shriram group, the Indian partners have steadily withdrawn from the joint venture which has successfully launched the honda city mid-segment luxury car in India. The Commerce and Industry Minister has cleared FDI proposals worth Rs 2620 crore out of which Rs 2250 crore is accounted for by the HCL Technologies ADR. Out of 37 FDI cases approved by FIPB, eleven belong to Telecom, Media, Technology (TMT) sectors clearly indicating the foreign investors’ in the new economy. The Government has allowed Asia Pacific Exports Ltd to bring in Rs 106 crore of FDI through preference issue of shares. The company will have 100 per cent FDI investment. It is engaged in the poultry and other slaughtering preparation besides frozen and value-added products. Another proposal for FDI in the poultry segment is that of Eagle Agro Farms Pvt Ltd. With FDI percentage of 28.57 per cent, the total inflow would be Rs 9 crore. The firm is in the business of poultry products including commercial chicks, hatching eggs and dressed chicken. In the related sectors of fast foods, McDonalds’ India has been permitted amendments in the existing foreign currency conditions, though in fresh inflow of investment is involved. In the automobile sector, the Motor Industries Co Ltd has been allowed to increase foreign stake from 54 per cent to 57 per cent way of buyback of the equity. The proposal does not involve any fresh inflow of foreign capital. In the field of banking and finance, Development-Credit Bank Ltd has been given a green signal to increase its foreign capital from 15.51 per cent to 37.50 per cent with the inflows of Rs 6.36 crore. The power sector also figured in the list of fresh FDI proposals. These include 100 per cent FDI in Alstom Instrument Transformers Pvt Ltd with the inflows of Rs 15 crore. (UNI) |
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Good demand for tea varieties in Calcutta auction CALCUTTA, Oct 20: There was good demand for different tea varieties in this week’s Calcutta tea auction. Assam CTC recorded firm to irregular sales while good sized brokens were sold around last level. Mediums were irregulars around last level with browner sorts showing easier trend. Major blender lent good support while other packeteers selective. There was also selective export inquiry for bolder and good sized brokens as well as fannings. Darjeeling tea showed improved trend while whole leaf grades witnessed better inquiry and sold at fully firm to dearer levels. Well made brokens and fannings were sold around last levels. The remainders were barely steady with major blender lending good support. There was better support from the UK as well as local traders and selective support from the continent. In the orthodox section, the good quality whole leaf and brokens sold well. Well made clean whole leaf and large brokens recorded sales from firm to dearer. Smaller brokens and fannings were barely steady around last level. There was good inquiry from the CIS and the continent and fair internal inquiry for bolder whole leaf, smaller brokens and fannings. In the dust section, there was good demand for good quality Assam dust while the remaining Assams were barely steady. Dooars were irregular around last level. Major blender and another packeteer lent good support. There was selective export interest on better liquoring PDS. (UNI) |
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‘Convergence’ of 3 ministries mooted NEW DELHI, Oct 19: Communication Minister Ram Vilas Paswan today said there is a strong possibility that an umbrella ministry would be formed soon which would converge broadcasting, information technology and communication. Mr Paswan said the new umbrella ministry should come under one regulator. The ball would set rolling once the new comprehensive statute will replace the Indian Telegraph Act, 1885, keeping in view the rapid convergence of telecom, computers, television and electronics. However, the Fali Nariman sub-group on convergence had said there should be an independent commission to regulate telecom, broadcasting and information technology and should regulate both carriage and content. Later speaking at a national seminar on convergence, Mr Paswan said the bill on convergence of broadcasting, telecom and information technology is expected to be tabled and passed in the winter session of Parliament after the group of ministers studying the issue finishes its work. The bill will be called Communications (Content and Carriage) Bill. The bill also envisages setting-up of a super regulatory authority like the US Communication Commission, which will be known as the Communication Commission of India. The authority will issue licences for telecast, broadcasting, internet, FM and other related fileds. The group of ministers, which met here last evening under the chairmanship of Finance Minister Yashwant Sinha, hoped to finish its report and prepare a final draft of the bill by the end of November at the latest. Though no date was fixed, the next meeting is expected to be held towards the end of the month according to the convenience of all the concerned ministers to enable a full-fledged discussion on the draft bill prepared by the sub-group headed by Mr Nariman. The group of ministers was set up under the chairmanship of Mr Yashwant Sinha by Prime Minister Atal Behari Vajpayee on December 13 last year to expeditiously implement the telecom policy 1999 whilst taking into account the increasing convergence between telecom and information technology. It had set up three subgroups, one of which was to consider and make recommendations to strengthen the TRAI through suitable legislative amendments. The second was to identify and recommend measures for resolution of subsisting problems in the telecom sector with a view to ensuring expeditious implementation of NTP-99 as well as for identification and resolution of subsisting problems in the implementation of the ISP policy and to recommend measures for the rapid spread of e-commerce. The third headed by Mr Nariman was to prepare the draft of a new comprehensive statute to replace the Indian Telegraph Act, 1885, keeping in view the rapid convergence of telecom, computers, television and electronics. "Convergence has become a buzz word", Chairman Telecom Commission Shayamal Ghosh said while addressing the seminar. He said there has been a digital revolution that has compressed information, a network has been established that is now using computers for communications more than any other use and finally the use of consumer electronics that has hit new highs. He said tele-density is not only determined through telephone connections but can also be calculated through the use of television, broadband etc. "If these yardsticks are taken up then the tele-density of the country will increase from a low 3 per cent to 10 per cent," Mr Ghosh said. (UNI) |
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