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| Petroleum
institute to hold meet on lubes and bitumen DEHRA DUN, Dec 12: Problems and challenges related.......more
FM agrees to extend NEW
DELHI, Dec 12: The
Union Finance Ministry has.... more NEW
DELHI, Dec 12:With
differences between the Government.....more HYDERABAD,
Dec 12: Restoration
work at Kothagudem....more LUCKNOW, Dec 12: Employees of the ailing Uptron units in Uttar Pradesh will be redeployed in other departments.....more |
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Jammu Motors show-room
inaugurated Excelsior Correspondent JAMMU, Dec 12:Works Minister, Mr Ghulam Mohi-ud-Din Shah has called upon the industrialists....more WTO asks India, US to GENEVA,
Dec 11 : India
today lodged a strong protest at the World Trade
Organsiation (WTO)......more NEW
DELHI, Dec 11 :
Gold and silver continued to gain glitter at the local
bullion...more |
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Petroleum institute to hold meet on lubes and bitumen DEHRA DUN, Dec 12: Problems and challenges related to the refining processes in the oil industry will be discussed by scientists, technologists and academicians from all over the country at national sysmposium to be held here next week. Organised by the Indian Institute of Petroleum (IIP) Dehra Dun, the symposium will felicitate Dr Himmat Singh, area leader (lubes, bitumens and training) of the institute who has made a major contribution in the field of refining. Dr. Himmat Singh is retiring from service on December 31. Titled "national symposiu on lubes and bitumen: Opportunities and challenges in the 21st century", the meet will feature invited lectures and technical papers from eminent scientists and technologists from the sphere of refining. The focus will be on conventional separation techniques and recent developments in Lubricating Oil Base Stocks (LOBS) processing, novel refining techniques/ hydroprocessing, impact of quality LOBS on performance and high performance/multigrade bitumen. The symposium will be chaired by IIP Director, T S R Prasada Rao. Dr M O Garg is the co-chairman, Mr Mohd Anwar the convenor and Mr V P Sharma the co-convenor. The subject of lubes and bitumen has received great attention in recent years especially with the recent globalisation aned economic reforms concerted research and development efforts are being made through several private sector/joint ventures to boost refining capacity. Around 40 per cent of the refinery operating costs are associated with refining processes indentification of challengers that lie ahead for refiners and technologists in meeting the future requirements of the industry is therefore extremely important. This seminar will make an effort to identifty such challenges. There has been an extensive debate among the oil industry, the automotive sector,legislation and medical practitioners about the controversy surrounding the contribution of oil emissions to air quality. The symposium will also deal with issues included in this debate on the environment aspect of oil emissions. The R and D strategy to be adopted in future will be formulated by the delegates to the symposium after an interaction between senior scientists and the younger generation of scientists at the meet which will conclude on the evening of December 15. (UNI) |
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FM agrees to extend Rs 150 cr to Goa, says Faleiro NEW DELHI, Dec 12: The Union Finance Ministry has agreed to extend a special loan of Rs 150 crore to Goa for resuming work on ongoing power, road and water supply projects, stalled due to paucity of funds, according to Chief Minister Luizinho Faleiro. Mr Faleiro told reporters here after meeting Finance Minister Yashwant Sinha yesterday that Mr Sinha had asked the Planning Commission to meet the state’s demand for the loan. Earlier, the Finance Ministry had turned down the request of then Chief Minister Alfred D’Souza for a one-time grant of Rs 150 crore for the same purpose. Mr Faleiro also called on Prime Minister A B Vajpayee, Home Minister L K Advani, Power Minister P R Kumaramangalam and Steel and Mines Minister Navin Patnaik during his two-day stay here and took up with them various problems faced by the state. Instead of being commended for the low population growth, Goa was being penalised under the Gadgil formula which had recommended allocation of central resources to states on the basis of the size of population, the Chief Minister said. As a result, Central funds to the state had gone down from Rs 120 crore to Rs 41 crore, he said. Mr Faleiro said he had sought the Centre’s permission to levy cess on mines in the state whose annual iron ore export was worth Rs 1,000 crore, accounting for 60 per cent of the overall export of the country. The state was at present getting a royalty of Rs nine per tonne of iron ore from the Centre which was just one per cent, he explained. The cess collected from the mines would be utilised for upgradation of environment affected by the mining activity, he said. The state proposed to take up a Rs 1100 crore water resources project and a Rs 250 crore environment upgradation project. The Goa Government was setting up an information technology authority which would provide a single window system for it projects, he said. (UNI) |
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NEW DELHI, Dec 12:With differences between the Government and the Bharatiya Janata Party on the Insurance Regulatory Authority Bill blowing over, beeming investors, led by Foreign Institutional Investors, made hectic purchases, particularly in Hindustan Lever Limited’s shares, at the Delhi Stock Exchange during the week ended December eleven. Union Industry Minister Sikander Bakht’s assurance that the patent amendment Bill will be tabled in Parliament next week further intensified the buying spree, particularly in glaxo’s scrips. Left-supported trade unions’ strike against the Centre’s economic policies, especially opening up of the insurance sector, did not have any impact on the local bourse. The DSE index (based 1983) zoomed up by 30.92 points at 660.66 against the previous closing of 629.74. Multi-national companies shares witnessed sharp buying, especially from FIIs. Hindustan Lever, Glaxo, Castrol India and Nestle India saw sharp rises in their values. Software shares, except pentafour software, also went up. Despite financial institutions blocking ACC’s bid to give preferential shares to Tatas over the pricing of the issue, the Cement Major continued to rise during the week. Prime Minister Atal Bihari Vajpayee also favoured larger role for FIs in corporate performance while addressing Annual General Meeting of ASSOCHAM. He said issues concerning the quality of corporate governance would receive high priority from the Centre. Among the few losers, Zee Telefilms was a major casualty. Market analysts said contrary to FII’s tradition of offloading stocks in the month of December because of redemption demand worldwide, heavy purchases marked the behaviour of these investors this week. The FIIs were particularly happy with the settlement of differences between the BJP and the Union Government over the IRA Bill. The BJP president Kusabhau Thakre had stated earlier that BJP was not consulted by the Centre over the Bill and is against opening up of the sector to foreign players. Mr Thakre, however, retracted later, stating that the Government is the best judge to gauge the compulsion of the economy and the BJP is totally behind the Centre over the Bill. The mood was also upbeat because Mr Bakht stated that there is complete agreement within the Government on Patents Amendment Bill. The Bill incorporates giving exclusive marketing rights to transnational companies in pharmaceuticals. Currently India provides process patenting, but not product patents. The WTO signatories are required to amend their acts to provide for both product and process pantenting by April 19 next. The Government’s plan is to provide EMRs to foreign companies and seek time until 2003 to introduce product patenting. While Hindustan Lever zoomed up by Rs 144 at Rs 1744.50, Glaxo shot up by Rs 72 at Rs 637. Castrol India rose by Rs 41.90 to close at Rs 678.40. Software solution settled at Rs 551, up by Rs 40.75 and Satyam Computer gained Rs 35.45 at Rs 547.40. Nestle India flared up by Rs 25.25 at Rs 454.10. Acc moved up by Rs 22.25 to close at Rs 862.50. Zee Telefilms was the only major loser, shedding Rs 43 at Rs 552. (UNI) |
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Restoration work begins at thermal power station HYDERABAD, Dec 12: Restoration work at Kothagudem Thermal Power Station (KTPS) in Khammam district of Andhra Pradesh, whose two units were completely gutted in a major fire on Thursday night has begun with clearance of debris last night. Both the units of 110 mw each were destroyed in the fire, apparently caused by short circuit. However, there was no loss of life. "Restoration work is in full swing and it may take some time for the generation and supply to resume", State Electricity Board (APSEB) sources told here today. Power generation was stopped at the 1,180 mw thermal station as a precautionary measure and the entire area was cordoned off. A team of technical experts would assess the extent of damage, sources said. This was the second major disaster to hit power stations in the state this year. Earlier, in October last, all the seven units of the 770 mw Srisailam hydel power project in Kurnool district were completely submerged in flood waters following heavy rains. (PTI) |
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Uptron employees to be redeployed in other deptt LUCKNOW, Dec 12: Employees of the ailing Uptron units in Uttar Pradesh will be redeployed in other departments on contract basis. The employees will be given jobs on fixed emoluments and for fixed time in various departments, according to their ualifications. This was decided in a meeting chaired by State Chief Secretary Yogendra Narayan. The Uptron employees have been on agitation to protest the State Government decision to close down five loss making units. They have been holding dharnas and blocking roads. The units earned profit till 1987-88, but the losses suffered the after continued to increase. The Chief Secretary has directed that 64 Uptron employees be given jobs on contract basiss in the Police Department by December 25. He also instructed that 202 posts in the Secretariat Administration Department be filled by December 31 by Uptron employees. The Chief Secretary was told in the meeting that the class four employees of Uptron would be absorbed in various departments on contract basis because a sufficient number of posts of class four were lying vacant in these departments. The Chief Secretary also directed officials of other departments to inform him the Principal Secretary, electronics, about the situation with regard possibility of absorption of Uptron employees on vacant posts in their departments. Humanitarian attitude should be adopted in this connection, he said. (UNI) |
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WTO asks India, US to settle import restrictions issue GENEVA, Dec 12: The World Trade Organisation (WTO) has asked India and the US to workout a mutually acceptable timeframe for dismantling of New Delhi’s quantitative restrictions on imports, WTO sources said. India has sought six years time to phase out import curbs in tune with its wto commitments, but US has objected to this timeframe. Hearing the two sides, a Dispute Settlement Panel (DSP) of WTO has asked the two countries to settle the issue through mutual understanding. The nerim findings of DSP on a complaint filed by the US was issued here this weekend. India had entered into bilateral agreements regarding the six year timeframe with five trading partners, including the European Union, on the grounds that it was not possible for New Delhi to lift the curbs earlier due to Balance of Payments (BoP) position. The DSP ruling also provided for arbitration by a designated authority to settle the issue and the final findings are expected to be available in two weeks time. (PTI) |
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India lodges protest in WTO against U.S. list GENEVA, Dec 11 : India today lodged a strong protest at the World Trade Organsiation (WTO) against the U.S. decision to slap export restrictions on 40 companies and their 200 entities, saying it was violative of multi-lateral trading regime. It is India’s view that the restrictions imposed by the United States are without justification. The imposition of export restrictions is not only unjustified, it is also, in our view, violative of U.S. obligations under WTO, India said in a statement at the WTO General Council here. The U.S. had banned technology transfer to the 40 companies, including institute of mathematical sciences, Chennai, Institute of Physics, Bhubaneswar, Indian Institutes of Technology, and a range of public sector companies, after India conducted nuclear blasts in May. The entities were not eligible to receive exports or re-exports of items subject to U.S. export administration regulations without license and the unilateral action cut at the very root of WTO, it said. India notes with regret the fact that some developed countries have been taking recourse to unilateral action in various situations, thus making multilateral trade disciplines and rules increasing irrelevant, It said. (PTI) |
Gold, silver continue to glitter again NEW DELHI, Dec 11 : Gold and silver continued to gain glitter at the local bullion market keeping pace with the international markets today. Gold, standard and ornaments, gained rs 15 at Rs 4,365 and Rs 4,215 per 10 gm as prices at london opened with a gain of 30 cents at 294.30 dollars per troy ounce. Silver .999 ready also went up by Rs 15 at Rs 7,250 per Kg despite prices at London opened one cent lower at 4.81 dollars per troy ounce. Besides, emergence of good demand further improved sentiments and prices soared. Silver weekly delivery also improved by Rs five at rs 7,275 per Kg. Bittur gained by Rs 15 at Rs 4,355 per 10 gm. Sovereign and silver coins remained static. The rates : gold (per 10 gms) standard Rs 4,365 ornaments Rs 4,215 bittur (per ten gms) Rs 4,355 sovereign (per eight gms) Rs 3,750/3,800 silver .999 ready (per kg) Rs 7,250 silver weekly delivery (per Kg) 7,275 silver coins (per 100 pieces) buyers 10,600 sellers 10,700 (UNI) Jammu Motors
show-room inaugurated Excelsior Correspondent JAMMU, Dec 12: Works Minister, Mr Ghulam Mohi-ud-Din Shah has called upon the industrialists and affluents to invest in private sector in Jammu and Kashmir so that the unemployment problem could be overcome in the state. Speaking at a function after inaugurating the impressive show-room of Jammu Motors Private Limited,that commissioned Bajaj Auto Dealership in Jammu,the Minister said that the Government cannot solve the gigantic unemployment problem single handed. He exhorted upon the youth not to hanker after the white collar jobs and instead set up their own ventures in the private sectors. The Minister while lauding the role of Bajaj Motors, hoped that the customers would be able to get the product of their choice. The show-room is fully computerised with all facilities for customer care. The ideal phemautic and smokeless workshop comprises dust free painting oven, dust free engine room, besides waiting lounge with music system. Among others present on the occasion included Minister for Parks and Gardens, Peerzada Ghulam Ahmad Shah and General Manager Corporate Affairs, Bajaj Auto Limited, Mr Niladri Banerjee. Speaking on the occasion, Mr Banerjee highlighted the major features of the Bajaj Motors.He said that the Bajaj was the India’s largest two and three wheeler company, worlds fourth largest two wheeler and the largest three- wheeler manufacturer with a production capacity of two million two and three wheelers. He said that it has the vehicle sale of 1.3 million with corresponding turnover of rupees 3513 crores in 1997-98 and the company was amongst the top Indian private sector corporations in terms of profits. Mr Banerjee further said that Bajaj has the largest sales and service network in the country. Her said that Bajaj Auto has recently launched India’s first four stroke scooter "Legend" which promises high fuel efficiency, top driving pleasures and most eco-friendly. Almost all the ranges of two wheelers were displayed in the show-room. |
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