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Car, MUV, 2-wheeler NEW DELHI, June 22: Car sales went up by three per cent in May 2001 on the back of positive sales by Maruti and Hyundai. Total sales increased to 54,202 cars from 52,593 cars sold in the year-ago month, figures released by the Society of Indian Automobile Manufacturers (SIAM) showed today. ....more IBM
delivers fastest SAN FRANCISCO, June 22: IBM has delivered the world’s second fastest computer to a US Government laboratory in California, where it will be used .....more WB, IDA loans this year highest in recent years WASHINGTON, June 22: The loans and credits amounting to 2.5 billion US dollars announced by the World Bank for ...more Govt
committed to THIRUVANANTHAPURAM, June 22: The Kerala Government was committed to continue the Public Distribution System (PDS)....more |
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WASHINGTON, June 22: The World Bank today approved four loans, worth 913.8 million US dollars, to support poverty reduction programmes...more Shares climb down as players square-up positions NEW DELHI, June 22: Equities retreated on the stock market today as participants indulged in squared-up pending positions on account of end of. ...more Global coffee output projected to fall by 2 mn bags in 2001-02 NEW DELHI, June 22: Preliminary indications suggest that world coffee production will drop notably in the next season to ...more ‘Agricultural sector should become globally competitive’ BANGALORE, June 22: Karnataka Chief Minister S M Krishna today stressed the need for a qualitative change in the country’s......more |
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IBM delivers fastest computer to US Govt SAN FRANCISCO, June 22: IBM has delivered the world’s second fastest computer to a US Government laboratory in California, where it will be used to study and improve fuel efficiency in vehicles and other energy-related problems, the company said. The machine, theoretically capable of as many as 3.8 trillion calculations per second, will be installed at the National Energy Research Scientific Computing Center (NERSC) at the Energy Department’s Lawrence Berkeley National Laboratory in Oakland, IBM announced. The computer will be used to test computer models of internal combustion engines in hopes of finding a model that burns less fuel and emits fewer pollutants, said NERSC spokesman John Hules. The computer will also be used in global climate modelling. The world’s fastest computer is IBM’s accelerated strategic computing initiative white, used to simulate nuclear weapons explosions at the Energy Department’s Lawrence Livermore National Laboratory in California. (DPA) |
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WB, IDA loans this year highest in recent years WASHINGTON, June 22: The loans and credits amounting to 2.5 billion US dollars announced by the World Bank for India during the current fiscal is the highest sanctioned to the country in recent years, says World Bank Country Director for India Edwin Lim. In an interview to PTI today, Lim pointed out that the loans even include funds for highway projects which, after the Pokhran tests, were subject to us sanctions. Expressing happiness with the progress of loans this year for India he said "there was no opposition to the last set of loans just announced". "The bank no longer issues annual studies assessing India’s economic performance as a whole and making suggestions", he said adding this is because the bank feels that some of the documents issued by Indian authorities themselves, like the economic survey, are of good quality making it unnecessary to duplicate them. "What the bank is now trying to focus on is specific areas rather than very general reports, Lim said. On the performance of the states, he said the record was a mixed one. Some of the states are pursuing "very impressive, comprehensive" reform while some are pursuing impressive reforms only in specific sectors. "Our own feeling," he said, "is that you get much more of a rapid reform at the level of some of the states whereas in the center the reforms continue to be more protracted." "This is not surprising because at the states level, where they have a stronger political consensus, they may be able to move fast, though, of course, the record among the states varies, whereas at the centre the process of arriving at a consensus necessarily takes longer" Lim added. On electricity loans, which are included among the loans given this year, Lim said "we are no longer lending to any state for a power project unless it has embarked on a comprehensive reform programme and adjusting tariffs eventually to the market level." (PTI) |
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Govt committed to continue PDS THIRUVANANTHAPURAM, June 22: The Kerala Government was committed to continue the Public Distribution System (PDS) as part of its effort to check price raise of essential commodities, State Minister for Food and Civil Supplies and Culture Kartheekeyan said today. Addressing a press conference here, Kartheekeyan said the traditional rationing system in the state had effected due to the increase of price of commodities supplied through PDS by centre in April last. The off-take from the ration shops had come down from one lakh tonnes to 40,000 tonnes per month, he said adding this was due to increase of price of ration articles. He made it clear that the State Government would continue the subsidy of Rs.150 crore for ration articles. There are about 14,000 ration shops and 63 lakh ration card holders in the state. The Government would open more malveli stores soon and preparations were also on for setting up special Onam markets during Onam festival season, he added. Kartheekeyan, also the Minister for Devaswom, said efforts would continue to get forest lands near Sabarimala Ayyappa temple for carrying out development works.The centre had recently rejected the State Government and Devaswom request for handing over forest lands in Sabarimala. However, he said all necessary steps would be taken during the festival season at Sabarimala. (PTI) |
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WASHINGTON, June 22: The World Bank today approved four loans, worth 913.8 million US dollars, to support poverty reduction programmes in India. The loans, provided out of the 2.5 billion dollars that the bank has earmarked for the country during the current financial year, will be utilised at the central, state and local levels in various states, mostly in northern India, a bank release said. It has earmarked a sum of 589 million dollars for the grand trunk road improvement project to relieve transport bottlenecks in Uttar Pradesh and Bihar. The bank is also financing the expansion of the national highway which connects New Delhi with Calcutta. The loan has 20 years to maturity with a five year grace period. The second Rajasthan district primary education project, to the tune of about 75 million dollars, will also be financed by the bank. It is an interest free credit, provided by the international development association, the release added. Coordinated by the Central Government, the project builds on the successful experience in parallel programmes in other states and within Rajasthan. The Karnataka watershed development project, which will receive about one hundred million dollars, will help in providing improved services to poor communities in semi arid regions. (UNI) |
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Shares climb down as players square-up positions NEW DELHI, June 22: Equities retreated on the stock market today as participants indulged in squared-up pending positions on account of end of weekly settlement and registered widespread losses. Reflecting the bearish market, the Delhi Stock Exchange sensitive index fell 7.28 points to close at 850.71 mostly attributed to consistent fall in heavy-weighted cement and other traditional blue-chip stock prices. Marketmen said fast approaching deadline for a ban on carry forward trading and introduction of rolling settlements from July 2 forced brokers and other market players to wind up their outstanding positions which dampened the trading activity. Even some recovery in the tech-high Nasdaq in the past two trading sessions failed to buoy the trading sentiments, they said. Index-related cement sector stocks led today’s fall on the market in reaction to reports of falling cement sale in view of timely approach of monsoon. Cement giant ACC’s share was down by Rs.5.20 at Rs.130.80, Gujarat Ambuja Cement by Rs.3 at Rs.181, Larsen and Toubro by rs.13.35 at Rs 210.50, Grasim Industries by Rs.7 at Rs 304 and Jaiprakash Industries by Rs.1.25 at Rs 26.55. Petrochemicals giant Reliance Group Company stocks also faced selling pressure in line with overall trend despite strong fundamentals. Reliance Petroleum lost 75 paise at Rs.47.70 and Reliance Capital by Rs.2.65 at rs.50.50. However, Reliance Industries stocks, which remained weak in most part of the session, managed to show moderate gain of 80 paise at Rs.342.50 at the close. Banking stocks were under pressure on heavy selling by market participants and finance houses. State Bank of India lost Rs.2.40 at Rs.225.50, Oriental Bank by 20 paise at Rs.35.80, ICICI Bank by Rs.1.50 at Rs.138.50 and Bank of India by 45 paise at Rs.16.05. Multinational company stocks also joined the weak trend as Hindustan Lever lost Rs.1.60 at Rs.204, ITC Ltd. by Rs.7 at Rs.778, Castrol India 60 paise at Rs.224.90 and Colgate 50 paise at Rs.160.25. In technology sector, shares of Wipro, NIIT, Infosys Technologies, SSI Ltd., HCL Info, Pentamedia Graphics, Digital Equipment, Himachal Futuristic and Global Tele went down on fresh selling. (PTI) |
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Global coffee output
projected to fall by 2 mn NEW DELHI, June 22: Preliminary indications suggest that world coffee production will drop notably in the next season to 116.94 million bags from an estimated 118.72 million bags in 2000-01 amid divergent trends in the production of arabica and robusta varieties. "Despite a likely fall in coffee output next season, it will still remain at an exceptionally high level due to significant upward revision in the estimate for 2000-01 crop to around 118 million bags from 115.27 million bags," market analyst Lawrence Eagles told PTI from London. Experts felt such a fall had little impact on prices in view of the absolute figure being still over 115 million bags and much higher than consumption. Eagles said even though these estimates prepared by his company’s commodity expert were preliminary, they indicated overall coffee supply in 2001-02 would outstrip consumption. More notably, while robusta production was estimated to rise to 46.13 million bags from 43.71 million bags in contrast, Arabica output would continue its downward slide falling sharply to 70.81 million bags from 75.01 million bags. He pointed out that the drop in Arabica production had coincided with sharply falling prices and could be attributed to roasters ability to subsitute robusta within their blends. However, if the projected fall in 2001-02 proved to be as severe as currently estimated, it would test the limits of substitution in the coffee market. Eagles felt this could prove to be a double-edged sword supportive of prices but also an incentive to downgrade quality. (PTI) |
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‘Agricultural sector should become globally competitive’ BANGALORE, June 22: Karnataka Chief Minister S M Krishna today stressed the need for a qualitative change in the country’s agricultural sector to enable India export its farm surplus. Speaking after receiving the final report of the Agriculture Commission (AC) headed by renowned agricultural scientist R Dwarakinath here, he said the Chief Ministers who attended the Prime Minister’s meeting on agriculture recently had accepted the need for fundamental changes in farm practices and had unanimously decided for restructuring the sector to meet the challenges posed by the agreement on agriculture of the WTO. "The country needs to follow Chinese and Japanese models and simultaneously retain its traditional farming practices to emerge as a leading export nation," he observed. Mr Krishna said a cabinet sub-committee under his leadership would look into the AC’s recommendations and take corrective steps. "The Commission has sought a serious rethinking in the policy framework to enable farmers meet the global challenge. Sustainable agriculture is inadequate in the era of commercial agriculture and steps should be taken to guide farmers to not only improve their yield by restricting land use for a particular crop, but also go in for a variety of produce to enhance its economic viability. Farmers should gain flexibility in changing the production mix," he added. Agriculture Minister T B Jayachandra, talking to newspersons later, said the Centre should not "further delay" commercial introduction of genetically-engineered BT cotton. Though the Union Department of Biotechnology had cleared it, the Environment Ministry was asking for a "few more trials". This would retard the introduction of newer technology as China had been cropping BT cotton for the last four years while in the United States it was introduced six years ago, the minister informed. (UNI) |
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