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Seventh milk plant SHRINAGAR, June 19: The Seventh Milk Plant of Uttaranchal with a 5000 litre capacity has been commissioned and made formally operational by.....more Precious
metals NEW DELHI, June 19: Both the precious metals, silver and gold, showed a sign of recovery on the bullion market today on revival of buying by local.....more It
is Viagra versus NEW DELHI, June 19: The fight for Indian market between the much sought after anti-impotence drug Viagra and its "Desi" version has spilled on to...more Industry
"upbeat’ NEW DELHI, June 19: Indian industry is "upbeat’ about the Indo-Pak summit next month, saying it will improve the atmosphere for bilateral trade....more |
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Ford India organises Excelsior Correspondent JAMMU, June 19: Inspired by the overwhelming success of the Ford Ikon, ‘the Josh Machine’ from Ford India, the company has launched Josh Fest 2001, a travelling road show, ...more Punjab Governor orders reduction of motor spirit tax CHANDIGARH, June 19: The Punjab Governor and Chandigarh Administrator, Lt Gen (retd) J F R Jacob, today ordered....more India says "no-room" for non-trade issues in WTO NEW DELHI, June 19: India said today there was "no room" for non-trade issues in multilateral negotiations and that implementation concerns on the...more Irish
unit of Ispat LONDON, June 19: Irish Ispat Limited, a steel company and a subsidiary of Ispat International, has been shut down and a meeting of creditors has been called for appointment of a .......more |
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Precious metals show sign of recovery NEW DELHI, June 19: Both the precious metals, silver and gold, showed a sign of recovery on the bullion market today on revival of buying by local parties and closed with moderate gains. Marketmen said revival of buying in both the metals at prevailing attractive lower levels mainly pushed up the prices. They said a steady trend in international markets where prices were declining in the last few sessions, enthused the trading activity. Standard gold and ornaments gained Rs.10 each at Rs.4435 and Rs.4285 per ten gram respectively. Sovereign on the other hand, continued to be asked at previous levels of Rs.3725 per piece of eight gram. Silver ready was better by Rs.15 at Rs.7320 per kilo on local buying while weekly-based delivery moved up by Rs.20 at Rs.7335 per kilo. Silver coins were asked at last prices of Rs.10,900/11,000 per 100 pieces. The following were today’s quotations: Silver ready 7320 and delivery 7335. Silver coins buyer 10,900 and seller 11,000 standard gold 4435, ornaments 4285 and sovereign 3725. (PTI) |
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It is Viagra versus Penegra in Delhi HC NEW DELHI, June 19: The fight for Indian market between the much sought after anti-impotence drug Viagra and its "Desi" version has spilled on to the Delhi High Court, which has restrained the Indian manufacturer Cadila from using the brand name Penegra. American multinantional drug company Pfizer, which claimed to have spent millions of dollars on research and development of Viagra, approached the High Court complaining that their brand name was being copied by Cadila accusing it of describing Penegra as "Indian Viagra". Hearing a suit filed by the American company, Justice A K Sikri in his ex-parte interim order said "defendants (Cadila) are restrained from producing, manufacturing or distributing any articles of merchandise, or for any purpose whatsoever, the trade mark Viagra or any colourable imitations thereof or any mark confusingly or deceptively similar thereto." A senior official of Cadila, when contacted in Ahmedabad, said the company would challenge the ex-parte order against Penegra and added "we are on good grounds to pursue the matter in the court of law." The court also restrained Cadila from preparing the distinctive blue diamond shaped tablet or any other tablet trade dressed as confusingly similar thereto to pass off their goods for the goods of Pfizer. (PTI) |
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Industry "upbeat’ on positive impact of Indo-Oak talk NEW DELHI, June 19: Indian industry is "upbeat’ about the Indo-Pak summit next month, saying it will improve the atmosphere for bilateral trade which has the potential to touch five billion US dollars. "We are very upbeat on the meeting and are hoping that some of the ground work for making trade easy will happen," officials of FICCI, a leading industry chamber, told PTI here. Officials said the meeting was expected to help reduce the unofficial level of trade, currently around one billion dollars, and increase substantially the official level of trade now at around 20 million US dollars. "Bilateral trade has the potential to touch five times the level of unofficial trade provided both sides are able to address the bottlenecks in trade infrastructure," they said. While expressing hope of positive steps being taken to grant most favoured nation status to India, the officials said the industry hoped that both sides would work to put in place an "investment promotion and protection treaty’ to enable industry tie-ups and facilitate investments. India has granted MFN status to Pakistan as early as 1995, but Islamabad is yet to reciprocate, which is mandatory under the WTO. Other issues include expanding the list of permissible items which are allowed to be imported from India. At present Pakistan allows import of 606 items, they said. Both Governments are also expected to work together to discuss possibility of a land route for seamless transshipment of goods’ from bonded warehouses on both sides of the border as shipping route is almost six-seven times more costly over the land route, they said. (PTI) |
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Ford India organises Josh Fest 2001 Excelsior Correspondent JAMMU, June 19: Inspired by the overwhelming success of the Ford Ikon, ‘the Josh Machine’ from Ford India, the company has launched Josh Fest 2001, a travelling road show, across 54 cities in the country. Started on June 10, the road show has enabled the Ford India to reach consumers across length and breadth of India to experience ‘The Josh Machine’, The Josh Fest 2001 was held in Jammu today at Dussehara Ground, Near Apsara Cinema, Gandhi Nagar, Jammu. Jammu Ford is sole authorised Ford Car dealership for the entire State of Jammu and Kashmir. Through it was launched just 2.5 months back on April 22, 2001 it has ranked the best Ford Standardized facility in the entire Northern region. Jammu Ford is today equipped with all state-of-the-art workstation technology, modern tools and gadgetry, unparalleled infrastructure and trained and well qualified staff especially trained by the Fort Company. Armed with such a huge workstation, Jammu Ford is also authorised to service non-Ford cars, whether it be Maruti-800 to Santro or Matiz, Ceilo to Accent or Baleno and Opel to Honda or Lancer. Sanjay Aggarwal of Jammu Ford said, " this is yet another joshful even for our customers from Ford India. The Ford Ikon Josh fest carnival is part of our constant endeavour to offer unmatched excellence in product, service and value addition to our customers. During the carnival, people in Jammu got an opportunity to see the much talked about Ford Ikon year 2001 model and experience of the Josh" Phil Spender, Managing Director, Ford India, said, "it is heartening to note that the spirit of Josh has really caught on, we are sure that Josh families will have a truly enjoyable experience at the Ford Ikon Josh Fest carnival". |
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Punjab Governor orders reduction of motor spirit tax CHANDIGARH, June 19: The Punjab Governor and Chandigarh Administrator, Lt Gen (retd) J F R Jacob, today ordered the reduction of motor spirit tax on petrol from 15 paise per litre to one paise per litre and on diesel from ten paise to one paise per litre. This reduction would be effective from June 20 this year. "This measure was taken as residents here are paying higher price for petrol and diesel because of incidence of central sales tax one per cent imposed on petroleum products that are supplied to the city. The city has to bear the CST, as earlier there was no petroleum depot within Chandigarh where stocks could be brought on stock transfer basis," an official spokesman said here today. He said that petroleum depot of Bharat Petroleum Corporation Limited is ready for commissioning in the city. (UNI) |
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India says "no-room" for non-trade issues in WTO NEW DELHI, June 19: India said today there was "no room" for non-trade issues in multilateral negotiations and that implementation concerns on the existing WTO agreements should be resolved upfront for the suceess of the forthcoming ministerial meeting at Doha in November. "We should use Doha (Qatar) to take stock of the situation on all unfinished work including mandated negotiations and implementation concerns of developing countries without linking them to new issues," Commerce and Industry Minister, Murasoli Maran, said. In a letter to group of 77 ministers to coordinate positions ahead of the fourth ministerial meeting, Maran said multiple issues would crowd the agenda leading to a trade-off among participating countries. "Bringing multiple issues on the table just to get substantial trade-offs and swap concessions advantageous for a few countries without any benefit to developing countries does not augur well for success of multilateral trading system." Asking the G-77 to evolve a common position and strategy for the Doha meeting, he said developing countries need to coordinate their positions on various WTO-related issues as ‘full-stakeholders’ in the multi-lateral trading system. He said any new item could be included only if it related to trade and if there was a general consensus among all wto members on its inclusion in the agenda. Noting with concern that significant non-trade issues were being promised in the name of trade liberalisation and constituency interests of the developed countries, Maran said developing countries were not in a position to take on more commitments. Maran said new issues could be taken up only after the likely impact on the additional rights, responsibilities and obligations were evaluated. Besides the situation should be ripe for such an inclusion. He said that developing countries should get convinced as to how their inclusion is going to help or in any way hinder the realisation of their development objectives as enshrined in the Marrakesh agreement. He further stated that new issues should not constrain their domestic policy options for taking up development activities. "Only the proposals which satisfy the above criteria and have endorsement by member-countries could be considered for inclusion," Maran said. "As otherwise the sovereign Government would not get a chance to discuss and evolve stakeholder-driven negotiating positions on such proposals if they are thrust on the membership without giving them sufficient notice," he added. Maran also appealed that "lessons learnt from Seattle remained relevant for Doha and any new risks and cost of failure at Doha would greatly hurt the multilateral trading system". (PTI) |
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Irish unit of Ispat global shut down LONDON, June 19: Irish Ispat Limited, a steel company and a subsidiary of Ispat International, has been shut down and a meeting of creditors has been called for appointment of a liquidator, it is officially stated here today. The decision was taken in view of continuing losses at Irish Ispat and after months of evaluating ways to make the plant more competitive in the light of current market conditions. Ispat international acquired the Irish plant at Haulbowline, formerly known as Irish Steel Limited, from the Irish Government in May 1996. Since then, it has met all of its commitments made to the Irish Government in relation to its acquisition of Irish steel, a spokesperson of the Ispat International told PTI. Since the acquisition, Ispat International has injected 24 million Irish pound to fund operating losses and capital investments at Irish Ispat, which is being impacted by extremely difficult economic and market conditions. Over the last few years, the company has sought reductions in energy prices, which is a major cost element, to levels that are competitive with energy prices incurred by its other steel making operations in Europe. More recently, the management of Irish Ispat, which has about 400 employees, strived to implement certain cost reduction and production increase proposals but these did not seem to have sufficient support from trade union officials. Ispat international is the world’s eighth largest steel producer with steel-making operations in the US, Canada, Mexico, Trinidad, Germany and France. (PTI) |
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