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Attacks on US will PARIS, Oct 31: The final cost to insurers and reinsurers of the September 11 terror attacks on the United States will be around 24 billion euros (22 billion dollars), the international ratings ......more Launching
development NEW DELHI, Oct 31: A new World Bank report today said the launch of ‘development round’ at Doha in early November would. ...more BANGALORE, Oct 31: The five-day mega event Bangalore it.Com 2001, showcasing strides made in it in India, is all set to go full stream against the ...more Old
toxic pesticides in KATHMANDU, Oct 31: When compared with the rest of the region, nepal may not have a huge stockpile of obsolete pesticides in storage, but it has .......more |
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Oyzterbay launches its exclusive out-let in Jammu Excelsior Correspondent JAMMU, Oct 31: Oyzterbay-jeweller for the living, today launched jewellery for the young in Jammu at 54, South Block, in Bahu Plaza at Jammu. .....more SREI registers 11.35 pc growth in net profit KOLKATA, Oct 31: SREI International Finance Limited (SREI), the leading national infrastructure finance and infrastructure project finance company...... more Iraq
rejects cleaned NEW DELHI, Oct 31: Notwithstanding Wheat Cleaning Facilities (WCF) set up to meet Iraqi standards, it has rejected new samples of wheat sent by . ....more Govt
to set up Bureau MUMBAI, Oct 31: The Ministry of Power has decided to set up Bureau of Energy Efficiency according the provisions of newly enacted Energy Conservation Act at new Mumbai, Union Minister of. .......more |
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Launching development round would help poor nations: WB NEW DELHI, Oct 31: A new World Bank report today said the launch of ‘development round’ at Doha in early November would significantly help developing countries facing global downturn by improving market access for agriculture, textiles and services. Removing barriers to trade, the topic of WTO meetings in Qatar, would boost the long-term prospects of developing countries, many of which are suffering from the fall-out of the September 11 attacks and worldwide slowdown. India is of the view that new WTO round should not be launched until the implementation issues of the Uruguay round are resolved. Indian efforts to prevent widening of WTO mandate have suffered a setback. The november nine to 13 meeting of Trade Ministers in Doha is to authorise the launch of new negotations with an expanded agenda covering the entire range of new issues such as framing of binding global rules on foreign investment and competition. The report entitled global economic prospects and the developing countries 2002: Making trade work for the world’s poor paints a grim picture of the short-term outlook for poor nations because of the simultaneous downturn in the US, Europe and Japan. Growth in developing countries is expected to fall to 2.9 per cent in 2001, nearly half the 5.5 per cent recorded in 2000. In South Asia, with the deterioration in the external environment, GDP growth in South Asia is likely to be 4.5 per cent in 2001 and 5.3 per cent in 2002. Briefing newspersons here economists of the bank said multilateral cooperation outside the WTO can help build trade capacity and create sound environmental and labour standards. The economists said high income countries should ensure trade policies promote access and are not detrimental to poor countries. "Trade and other policies remain the most important determinant of growth prospects", they said. Reshaping the world’s trade system and reducing barriers to trade could accelerate medium-term growth and reduce poverty around the world, the document, the bank’s yearly report on prospects for developing countries, says. Expanding trade could well increase annual GDP growth by an additional 0.5 per cent in the long run —and by 2015, lift 300 million people out of poverty in addition to 600 million escaping desperate poverty with normal growth. Developing countries stand to gain an estimated 1.5 trillion dollars of additional income in the ten years after liberalisation policies are begun developed countries would see their incomes rise by 1.3 trillion dollars. "To make this happen, the developed countries have to be willing to put agriculture and textiles on the negotiating table because those are the products that the world’s poor produce. A round that brings down barriers in agriculture, advances the timetable on textiles, agrees to curtailing antidumping and at the same time it takes up the concerns of the industrialised counties has the potential for being a true development round," the report says. The terrorist attacks put a huge drag on the already sputtering engines of the global economy. "What makes this situation unusually risky is that this is the first time since 1982 that the US, Europe and Japan have all turned down at the same time", the report says. The outlook for 2002, though subject to unusually high risks, is that the global economy will recover: developing countries are expected to grow by 3.7 per cent if the external environment holds up from 2.9 per cent in 2001, while it is expected that the world economy will grow by 1.6 per cent. (UNI) |
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BANGALORE, Oct 31: The five-day mega event Bangalore it.Com 2001, showcasing strides made in it in India, is all set to go full stream against the background of the recession in the world economy and the Afghan war. Considered to be Asia’s biggest it event, the fourth edition of this international exposition is being held at a time when the world economy is trying to recover from a deep depression caused by a variety of factors starting from the global meltdown on tech stocks as a fallout of the dot.Com bust and culminating at the tragic events of September 11 in the United States and the subsequent plunge in the stock markets the world over. The inaugural would coincide with Karnataka’s formation day and the event was expected to provide a forum for Chief Executive Officers of various leading IT and technology companies to interact and discuss the latest developments in the field and probe the future. Significantly, the United States, the destination for nearly over US dollars two billion, last year’s co-sponsor of the event, has backed out this time. The organisers, too on their part, concentrated more on tapping non-US market and consequently as many as 70 such companies had already confirmed their participation this time. To make the event more attractive, the organisers have added three new features which included high profile Chief Executive Officers conclave coupled with a panel discussion on "there is more to the future." Besides, there would also be a powerful trade show and a multi-forum conference along with the global buyer-seller meet, rural it quiz and students’ internet world. According to Information Technology Secretary Vivek Kulkarni, this year’s edition would be better than the previous year’s event considering the additional features. There would be over 252 Indian and foreign companies as against last year’s 376 which would participate in the trade show. Besides 15 countries would represent as against five last year and delegation would be from 15 states. Major participating countries, among others included Belgium, China, Germany, Hong Kong, Japan, Mauritius, Singapore, Taiwan and Britain. Microsoft, the platinum sponsor of the event, would use the event as the launchpad for its new operating system Windows XP on the inaugural day. Last year, over 60,000 including 600 foreigners had visited the trade show. Encouraged by the last year’s success, the organisers had decided to install over 300 pcs for the students internet world to promote awareness on it among students particularly from rural areas. This year’s edition would ensure high speed internet connectivity with the PCs to ensure better participation from the students as against last year’s 2400. (UNI) |
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Old toxic pesticides in Nepal putting lives at risk KATHMANDU, Oct 31: When compared with the rest of the region, nepal may not have a huge stockpile of obsolete pesticides in storage, but it has enough to attract the attention and dire warnings from global environmental watchdogs like Greenpeace. The chemical stockpile is also enough to cause serious problems for residents of Kathmandu, as well as those of at least two other locations outside the Kathmandu Valley, activists say. Old pesticides stored in a haphazard manner are a potential time bomb that could immediately affect human lives and the environment, says andreas bernstorff, a toxic waste expert with Greenpeace. Nepal has a total of just 74 tonnes of obsolete pesticides, but they have been stored in such an unsafe manner that Greenpeace stepped in in mid-October to repackage the pesticides with safer materials for shipment. Greenpeace estimates there is about 500,000 tonnes of obsolete pesticides worldwide in need of proper disposal procedures. A team of eight Greenpeace volunteers made up of four Germans, two Britons and two Indians completed the task of repackaging most of 4.7 tonnes of old pesticides stored near Nepal’s capital. Bernstorff and other members of his team were given full access by the Nepalese Government to repackage the toxic pesticides at Khumaltar warehouse in the outskirts of the city. "Danger," says Bernstorff, "is eminent here. We are acting on behalf of the companies that manufactured and exported the pesticidesto Nepal. "But we are acting for them (the companies) without their mandate." Bernstorff said he could not secure the complete stock at Khumaltar "because we ran out of polythene barrels in which the pesticides were to be repacked." "We brought in 90 barrels but ran short by about 15 to 20 barrels." He said his team was informed there was about 4.5 tonnes of old pesticides in Khumaltar, "but as it turned out, there was almost twice as much." Bhakta Raj Palikhe, Registrar of Pesticides at the Crops Protection Division of the Nepalese Agriculture Ministry said 45 tonnes out of the 74 tonnes were environmentally non-degradable. Most of the old pesticides were brought into nepal more than 25 years ago, some that were banned in the United States and Canada as far back as 1977, and in Europe in 1988. Some of them were bought by the Nepalese Government, but most were given to Nepal in order to create a market, Greenpeace claims. The danger of the obsolete pesticides - that include the banned dieldrin, organochiorinated mercury and DDT - were first noticed in 1990 when their stock in nepal was estimated at 150 tonnes. Apart from five tonnes stored in the outskirts of Kathmandu, 20 tonnes are stored in Nepalgunj, about 450 kilometres west of the capital, and 50 tonnes in Amlekhgunj, about 80 kilometres south of the capital. Environmentalists say that even though the Government has tried to repack the pesticides at Amlekhgunj, the chemicals are far from secure. Bernstorff told Deutsche Press-Agentur DPA when he visited Amlekhgunj he was told by residents that children playing in nearby fields had fainted when they went near the warehouses where the pesticides are stored. Bhakta Raj Palikhe says the Nepalese Government is aware of the need to dispose of the old pesticides, but says "they cannot be disposed off in Nepal, and must be transported to places where they can be safely disposed". He says it would cost about 4,500 US dollars per tonne to transport the pesticides to countries which have adequate facilities for disposal. But the Nepalese Government does not have that kind of money, and its has written to several potential donors asking for assistance. "We are still waiting for an answer from them," says Palikhe. As far as greenpeace is concerned, it is the responsibility of global chemical giants like Germany’s Bayer, Shell of the Netherlands, Switzerland’s Sandoz and Ciba Geigy, the US’ Union Carbide (now Dow Chemical) and DU Pont, and Japan’s Sumitomo, to help dispose of their old products. Until the companies step in to help out, says Bernstorff, or donors come forward to finance the transport of the pesticides, the Himalayan Kingdom will be sitting on a "time bomb" waiting to explode. (DPA) |
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Oyzterbay launches its exclusive out-let in Jammu Excelsior Correspondent JAMMU, Oct 31: Oyzterbay-jeweller for the living, today launched jewellery for the young in Jammu at 54, South Block, in Bahu Plaza at Jammu. Oyzterbay, the trend-setting company that has created a niche market for jewellery for young people, launched its collection of over 1250 gemset and plain designs in diamonds, gold and silver in Jammu. The five ranges, your first diamond, neptune, atlantis, coral reef and the mermaid- are affordably priced in a range between Rs 500 to Rs 10,000 and will initially be available at the exclusive Oyzeterbay signature outlet at Bahu Plaza. Announcing the launch of their 16th store in India in just eight months, Mr Vasant Nangia, chairman, Oyzeterbay said, "in a huge 40,000 crore jewellery market in India, it is amazing that the extensive choice that women have with respect to their wardrobes is not matched by the variety that they have in wearable jewellery. Women in India have to resort to either traditional jewellery handed down to them by their parents and grandparents, or wearing cheap and often poorly made "fashion" and imitation jewellery. Mr Roopinder Khurana, Oyzterbay Franchise said, "changing demographics of women across India, higher levels of education and increasing numbers of working women, created a unique opportunity for jewellery that can be worn everyday, to college, to work, at home and at party. Oyzterbay identified the opportunity and created just the range for young women. We are glad to be part of this revolution that is reducing jewellery retailing in India. Oyzterbay is a brick and mortar chain of trendsetting jewellery. The unique project aims to bring real mortar behind the clicks-an ideal business association that complements the retail aspect with a web store modeled on the shopping experience of customers at its stores. Established in June 2000, the company is promoted by a group of six professionals with a cumulative experience of 60 years of retailing consumers brands, including jewellery, in both the national and international fora. The group has worked together closely in their previous assignments, shared the trials and tribulation of various ventures, and emerged as cohesive team. The team is being funded by ICF Ventures, which holds a significant minority stake. Oyzterbay products are targeted at the youth and comprise over 1250 pieces that are contemporary as well as classical. Its signature stores showcase products that are a statement of style-defined by the interplay of precious metals and gemstones and crafted to perfection bases on exclusive designs created by the team of in-house jewelry designers. |
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SREI registers 11.35 pc growth in net profit KOLKATA, Oct 31: SREI International Finance Limited (SREI), the leading national infrastructure finance and infrastructure project finance company, has registered a 11.35 per cent growth in the net profit for the first half year period which ended on September 30, 2001. SREI has maintained its modest financial performance during the period under review, posting a rise in the net profit to Rs 6.99 crores from Rs 6.28 crores in the corresponding period last year, according to a company release here today. The operating profit during this period escalated to Rs 8.55 crore from Rs 7.60 crore as campared to the first half of the last fiscal, registering a surge of 12.46 per cent. The turnover also jumped by over 30.10 per cent from Rs 97.92 crore in the corresponding period last year to Rs 127.39 crore during the half year period in the current financial year. The net income stood at Rs 8.10 crore as against Rs 7.25 crore in the last financial period, registering a growth of 11.77 per cent. The fresh business done has jumped by over 54.10 per cent from Rs 146.00 crore done in the last financial half year period to Rs 225.00 crore during the current financial half year period. Mr Sunil Kanoria, Director, SREI, feels that in the difficult business environment, the company has prudently maintained a de-risked business model, focusing on its core activities of financing infrastruture equipment and infrastructure project. He said SREI has built up a sizeable asset base of heavy construction equipment financed to contractors and construction companies and also extended loans for projects in the infrastructure sector. (UNI) |
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Iraq rejects cleaned samples of Indian wheat NEW DELHI, Oct 31: Notwithstanding Wheat Cleaning Facilities (WCF) set up to meet Iraqi standards, it has rejected new samples of wheat sent by India, causing a setback to exporters’ efforts to immediately resume shipments to the arab country. Iraqi rejection could put the entire six lakh tonne wheat export deal in jeopardy unless Iraq accepts that it is virtually impossible to get wheat with zero per cent foreign matter. "The `cleaned’ samples of wheat sent for inspection to the Grain Board of Iraq (GBI) were found to have traces of karnal bunt fungus and an infinitesimally small quantity of inorganic matter, which is not acceptable by their standards," Cosmos International Managing Director Anil Agarwal told PTI. The samples were sent by exporters through the State Trading Corporation after processing them in the three WCFs at Kandla. Agarwal said in the given circumstances the best option was to have the three Kandla WCFs inspected by the Iraqi authorities. "All we can do is convince the Iraqi authorities that a bare minimum level of foreign matter like atmospheric dust will enter the consignments during loading even after processing at WCFs," he said. Union Food Ministry has agreed to invite a high-level delegation led by the GBI Director General he said, adding earlier a low-level delegation invited by STC had returned midway from Damascus. But there is a stalemate on the issue as Iraqis contend they could not go about checking WCFs in all countries from where they import wheat. (PTI) |
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Govt to set up Bureau of Energy Efficiency MUMBAI, Oct 31: The Ministry of Power has decided to set up Bureau of Energy Efficiency according the provisions of newly enacted Energy Conservation Act at new Mumbai, Union Minister of Power, Suresh Prabhu said here today. Mr Prabhu was delivering the inaugural address at a seminar on corporate strategies towards energy conservation in new millennium, organised by the Federation of Indian Chambers of Commerce and Industry (FICCI). The Union Power Minister said, though the Government has concrete plans for adding 100,000 mw power generation capacity within the next-ten years it has also decided to have a comprehensive action plan for promoting energy conservation and ensuring energy efficiency. According to him, a meeting of all concerned was recently held to discuss the ways for implementing the new enactment with the help of self-regulatory mechanism. He said, very soon the Power Ministry would set norms for better utilisation of energy resources in industries, agriculture, services sector and household segment. Terming the effort to create additional capacity as a supply side management, Mr Prabhu said that creation of additional capacity was environmentally and economically costly. Instead, saving one mw of energy would automatically stop creation and utilisation of three mw energy. Mr Prabhu said that a group of ministers is presently working on the policy statement on energy and is expected to table the policy statement soon. (UNI) |
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