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Hope rises for depositors AHMEDABAD, June 25: Depositors of the erring Madhavpura Mercantile Cooperative Bank (MMCB) have lots to cheer about with former Additional . . ....more Silver
prices pick NEW DELHI, June 25: In thin trading, silver prices recovered on the bullion market today on local buying support in view of restricted arrival and closed with gains. .....more Indian fashion industry’s extravaganza in Mumbai NEW DELHI, June 25: The Fashion Design Council of India (FDCI) will host its annual spectacular, the Lakme India Fashion Week, (LIFW), 2001, from...more HSIDC accepts term loan proposals worth Rs 34 crore CHANDIGARH, June 25: The Haryana State Industrial Development Corporation (HSIDC) has accepted term loan proposals worth Rs 34 crore at...more |
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Reports of starvation HAMIRPUR (HP), June 25: Union Public Distribution Minister Shanta Kumar has said the reports of starvation deaths in various parts of the . ...more MTNL
may reduce NEW DELHI, June 25: State-owned Mahanagar Telephone Nigam (MTNL), which started the price war in cellular services, is likely to announce ...more Shares
dip on NEW DELHI, June 25: Squaring-up of long positions by participants on the stock market today ahead of the ban on carry-forward trading coupled with ...more Scientific instruments design centre, Ambala’s closure resented AMBALA, June 25: The Instruments Design Development and Facilities Centre (IDDC), Ambala Cantonment providing calibration facilities to more.......more |
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Silver prices pick up on local support NEW DELHI, June 25: In thin trading, silver prices recovered on the bullion market today on local buying support in view of restricted arrival and closed with gains. Gold, on the other hand, held unchanged in scattered small trading activity. Marketmen said silver prices recovered on small buying by local industrial units’ buying. They said gold held unchanged in the absence of any market moving news. Silver ready gained Rs.20 at Rs.7220 per kilo and weekly delivery silver also by Rs.25 at Rs.7240 per kilo on local buying. Silver coins continued to be asked at previous levels of Rs.10,900/11,000 per 100 pieces. Standard gold and ornaments remained unchanged at Rs.4450 and Rs.4300 per ten gram respectively. Sovereign was traded at previous level of Rs.3725 per piece of eight gram. The following were today’s quotations: Silver ready 7220 and delivery 7240. Silver coins buyer 10,900 and seller 11,000 standard gold 4450, ornaments 4300 and sovereign 3725. (PTI) |
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Indian fashion industry’s extravaganza in Mumbai NEW DELHI, June 25: The Fashion Design Council of India (FDCI) will host its annual spectacular, the Lakme India Fashion Week, (LIFW), 2001, from August six to twelve at the Taj Mahal Hotel in Mumbai. Attendees will get to preview the latest collections from India’s leading designers as also the make-up trends, hairstyles and accessories for the upcoming season, through interactive seminars and workshops. Talking about Lakme’s commitment towards development of the beauty and fashion industry, Mr Anil Chopra, Director, Lakme Lever Ltd. said, "we believe that fashion and beauty are inter-linked. We have tried to make the show more eventful by holding workshops, conducted by international make-up artists, focusing on international trends, modelling, skin care, hair-styles and so on." Behind the glitzy facade lies the more prosaic purpose of the show, namely business. The event aims at fostering business growth and facilitating a dialogue between the designers and buyers. "Our primary objective is to create a conducive atmosphere that will facilitate buyer-seller interaction," said Mr Sumeet Nair, Executive Director, FDCI. The LIFW, focusing on the business of fashion, will showcase two collections the pret-a-porter (ready to wear) line, priced between Rs 800 and Rs 20,000, and the diffusion line, ranging from Rs 10,000 to Rs 30,000. Unlike individual ‘couture’ fashion shows, which showcase a one-of-a-kind designer collection, the focus of A ‘fashion week’ is more trade-oriented. The clothes showcased are representative samples, which can then be produced in larger quantities and various sizes for sale through multiple outlets. The LIFW made a debut in the capital last year and has become an annual event. The Fashion Design Council of India is the apex body, set up in 1998, to promote the business interests of the fashion fraternity. Lamenting the absence of a clear cut policy for the fashion industry, Mr Nair said, "though India is globally acknowledged for its rich textile heritage, the fashion industry still faces infrastructural and industry challenges. Recognising this the FDCI was set up to represent the business interests of Indian designers." The Council, under the aegis of the Textiles Ministry, provides a platform for designers and encourages investments and professional input in designer labels. It liases with Government agencies on behalf of the designer community on matters of importance to the industry. It also endeavours to foster growth in the fashion industry and expand the customer base in India and abroad. (UNI) |
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HSIDC accepts term loan proposals worth Rs 34 crore CHANDIGARH, June 25: The Haryana State Industrial Development Corporation (HSIDC) has accepted term loan proposals worth Rs 34 crore at a business meet organised by the corporation at its new office in export promotional industrial park, Kundli today. While stating this here today, a spokesman of HSIDC said that the Corporation received a good response in the meet and term loan proposals worth Rs 45 crore were discussed. He said that when implemented, these projects would catalyse an investment of Rs 55 crore in the state. The proposals were received for setting up of units to manufacture synthetic, cotton and nylon yarn, automobile parts, steel pipe machinery, process house for fabrics, paints, cr strips, shoe soles, helmets and pens. These projects were being set up in the industrial estates at Kundli, Rai and Barhi. (UNI) |
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Reports of starvation deaths untrue: Shanta HAMIRPUR (HP), June 25: Union Public Distribution Minister Shanta Kumar has said the reports of starvation deaths in various parts of the country were untrue and contrary to the facts. "No person has lost his life for want of food", he told reporters here yesterday. He said that ample stocks of foodgrains were lying with the Central Government agencies but it was a matter of serious concern that various State Governments were not showing interest to lift the stocks given to them under various programmes, aimed at helping the poor and those who were really in need due to drought conditions prevailing in their respective areas. He said, "we have about 500-lakh metric tonnes of foodgrains with us and it is wrong to say that India is short of foodgrains." He said that he had written to all the State Governments not to take this matter lightly and help the needy and the Central Government was there to help them to solve their foodgrain problems, if any. Mr Shanta Kumar said that there were 36 crore people in India, living below poverty line and only five crore people, who were actually living in worst inhuman conditions, badly needed food grains and other facilities. The minister said that under the drought relief programme, the Central Government had released sixteen lakh metric tonnes of food grains to the states on cent per cent subsidy, costing about Rs 1600 crore. However, only 9.50 lakh metric tonnes of foodgrains had so far been lifted by all the states. Mr Shanta Kumar alleged that food distribution system was not functioning well in almost all parts of India and efforts were on to to review it. He said that the total number of fair price shops in the country were 4,60,000 but their performance was not upto the mark, as per reports prepared by his ministry. He said that the Central Government had constituted committees at state levels, headed by MPs, to monitor the working of the Food Corporation of India and other agencies related with the supply of foodgrains to the people. He said that these committees would act as a watchdog and link between the states and the Central Government. Their reports would be accorded priority while taking various types of decisions regarding supply of foodgrains to various states, he added. Mr Shanta Kumar stressed the need for educating the consumers about their rights. He said that while the consumers of the urban areas were more aware of their rights, the rural consumers were lagging in this regard. He said the Central Government would organise consumers awareness camps in 120 selected districts of the country, where poor consumers with their ration cards would be invited. The Central Government would give a grant of Rs 50,000 for each camp. Campers would be educated about their rights and how to handle the situation, he added. The minister said that the Government would bring radical changes in the Consumers Protection Act, as it was not fulfilling the needs and aspirations of the people. He said that efforts would be initiated to make this more stringent and people-oriented. (UNI) |
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MTNL may reduce cellular tariffs NEW DELHI, June 25: State-owned Mahanagar Telephone Nigam (MTNL), which started the price war in cellular services, is likely to announce tomorrow a significant reduction in tariffs for its cellular service, Dolphin, in Delhi and Mumbai. According to highly-placed sources, MTNL is planning to cut monthly rentals by over 30 per cent from the existing rate of Rs 400 besides rationalising air time charges. "Our aim is to bring monthly rentals closer to land-line rent at Rs 250," sources said, adding that MTNL would also offer different tariff packages suiting different kinds of subscribers. They, however, refused to give details about different tariff plans. According to latest figures released by the Cellular Operators Associations of India (COAI), MTNL had witnessed a marginal fall in its subscriber base in Delhi in May at 9,884 from 10,080 in April this year. In Delhi, real competition continues to be between Bharti and Sterling, with the latest entrant MTNL’s Dolphin still struggling for a stranglehold on the market, sources said adding that "MTNL will now look forward for consolidating its position with the completion of network optimisation." Bharti grabbed 3.45 lakh subscribers in May, Sterling subscriber base rose to 2.43 lakh, according to COAI statistics. According to sources, there is a scope for reduction in the prices for cellular services as the cost of per line was coming down fast with the advancement of technology. MTNL had planned to cut the tariffs even earlier but was waiting for its network optimisation, sources said, adding that now almost the entire Delhi and a large part of the National Capital Region (NCR) have been covered. Recently, other private cellular operators Bharti and Sterling had announced different tariff packages. Bharti had announced a monthly rental of Rs 295 with both incoming and outgoing calls costing Rs 2.30 a minute while Essar of sterling had announced different plans carrying minimum commitment airtime with lower rates for incoming and outgoing calls.(PTI) |
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Shares dip on squaring-up of positions NEW DELHI, June 25: Squaring-up of long positions by participants on the stock market today ahead of the ban on carry-forward trading coupled with the absence of institutional buying, pulled down share prices to finish with losses spread over a wide front. Reflecting the downslide in share values, the Delhi Stock Exchange Sensitive Index dropped sharply by 12.36 points to close at 838.35. Marketmen said ahead of the deadline for ban on carry forward trading and introduction of compulsory rolling settlements from July 2, most participants indulged in reducing their positions to zero before deadline. Reports that the country’s largest Mutual Fund Unit Trust of India (UTI) has approached state-run State Bank of India for a Rs 1,500 crore temporary borrowing to meet mounting redemption pressure too unnerved the trading sentiments. Information Technology (IT) segment stocks bore the brunt and a majority of counters plunged to hit the downward side of price bands in reaction to the weekend fall in US tech-high NASDAQ. Infotech giant Infosys Technologies remained under selling pressure and lost rs 114, or about 3.1 per cent at Rs 3345. Software education major NIIT Ltd stocks was another weak spot after players squared-up long positions and lost Rs 57.10, or almost 16 per cent at Rs 297.90. Other losers in the IT segment were WIPRO Ltd by Rs 213.10 at Rs 1269.90, Satyam Computer by Rs 20.05 at Rs 155.95, silverline technologies by Rs 6.05 at Rs 55, SSI Ltd by Rs 17.55 at Rs 254.50, digital equipment by Rs 38.95 at Rs 439.05, DSQ Software by Rs 6.55 at Rs 47.45 and HCL Info system by Rs 5.10 at Rs 59.15. Telecom bellwethers such as Himachal Futuristics fell sharply by Rs 11.90 at Rs 64.10 and Global Telesystems by Rs 19.90 at Rs 108.25 on consistent selling by nervous operators. Among old-economy stocks petrochemicals giant and trend-setters Reliance Industries after showing narrow movements, finished Rs 2 down at Rs 340.50 on squaring-up of positions and Reliance Petroleum fell 75 paisa at Rs 46.55. Cement sector stocks continued to seek lower levels following reports of falling cement sale and prices. Cement giant Associated Cement Co went down 80 paisa at Rs 129.90 and Larsen and Toubro by Rs 2.50 at Rs 208. State-run SBI shares were down by Rs 8.30 at Rs 214.20, HDFC bank by Rs 2.95 at Rs 217, MTNL by Rs 5.45 at Rs 125.70, Hindustan Lever by Rs 3.25 at Rs 201.75, ITC Ltd by Rs 18 at Rs 760, BSES Ltd by Rs 3 at Rs 193, Ranbaxy Laboratories by Rs 3 at Rs 457 and Telco by Rs 1.25 at Rs 59.(PTI) |
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Scientific instruments design centre, Ambala’s closure resented AMBALA, June 25: The Instruments Design Development and Facilities Centre (IDDC), Ambala Cantonment providing calibration facilities to more than 50 ISO 9000 certified companies and over 900 industrial organisations in northern India, is likely to be closed down due to the State Government’s continued apathy to run the institute which earned its name in the field of scientific research and development since its establishment in 1983. Continued indifference and neglect shown by the bureaucrats to run the affairs of this pioneering institute has brought it on the verge of closure mainly for want of funds and budget allocations since a decade now, informed sources told UNI here. It is learnt that the proposal to wind up this prestigious scientific research and development centre, a pride of the state, is at the advanced stage and the State Government may take decision in this regard very soon. The alleged callous neglect of the R and D section of IDDC by the successive Chairmen and Managing Directors is attributed to be the main cause of bringing it to a stage of closure since they have failed to supervise its functioning and provide necessary support in continuing its R and D activities. The Scientific Instruments and Goods Manufacturers Association here squarely hold the high officials in bureaucracy with no background of technical education, responsible for the plight of the IDDC. The IDDC which came into being with the technical and financial assistance from United Nations Industrial Development Organisation (UNIDO) with an assistance of Rs 8 crore for installation of sophisticated machinery and equipment, was established by the State Government with an investment of about Rs 5 crore about 18 years back. Scientists like Dr K S Balain was its first Chairman to establish it to full glory and to make it a leading R D centre in the country. But it lost its fame when its control went into the hands of non-technical officials. It is the only research laboratory in India which has been accredited for ISO 9001 and National Accredition Board for Laboratories (NABL) of the Union Government. Besides, it has been awarded national awards for designing guidoscope for monitoring the missiles trajectories for the Indian Space Research Organisation (ISRO), educational robot for engineering colleges and electronic voting machine for the year 1999 and 200 general elections. The thin film coating plant, electroplating plant, printed circuit board fabrication facilities and mechanical workshop of IDDC has been helping more small scale industrial unit employing over 2000 workers for the last 18 years. It has trained more than 900 girls in the field of electronics instruments fabrication under the Norwegian Government scheme. The Ambala Scientific Instruments Manufacturers’ Association president Dr Anil Jain expressed concern over the proposal to wind up the IDDC, and said that this premier centre of design and development must be given priority, both in terms of capital and equity support and official attention to upgrade the existing fatigued instruments and save it from the deteriorating condition of the equipment and machinery here. He said that it was very difficult to create such an institute but very easy to wind up. He pointed out that its functioning should not be viewed from the point of view of earning the revenue as was being presented by the bureaucrats. He however, said that with the trade of over 100 crore, the scientific industry provides revenue by way of exports which is 50 per cent of total trade.(UNI) |
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