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TATA Tea Ltd to float SPV CALCUTTA, Sept 17: TATA Tea Limited would float a Special Purpose Vehicle (SPV) for funding acquisition of controlling stake in UK-based Tetley Ltd, a global player in the tea industry....more
IIFT opens doors to Excelsior Correspondent NEW DELHI, Sept 17: IIFT is presently one of the biggest fashion institute in India. It has been imparting fashion education for almost a decade now. Apart from fashion design IIFT is also offering courses like Textile Designing, Commercial Art, Apparel...more Acquavit Inc to invest NEW DELHI, Sept 17: Acquavit Inc, an incubator....more HC issues notices to Govt, BIFR in sick industries case NEW DELHI, Sept 17: The Delhi High Court (HC)....more |
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 Compact
tension and ATCO Sensors Limited is the leader in manufacturing Strain Gauge based Load cells in India....more
Stic introduces 'Star Now writing will no more be a boring experience alongwith Stic new exciting...more Exhibits of horror decks docks in Mumbai MUMBAI, Sept 17: The International Transport Workers’ Federation’s (ITF)....more
Gold seek further low level ahead of gold sale NEW DELHI, Sept 17: Gold prices sought further low levels on the bullion......more |
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TATA Tea Ltd to float SPV for acquiring Retley CALCUTTA, Sept 17: TATA Tea Limited would float a Special Purpose Vehicle (SPV) for funding acquisition of controlling stake in UK-based Tetley Ltd, a global player in the tea industry. Ratan TATA, Chairman of TATA Tea, told reporters after the company’s annual general meeting here today that before setting up the SPV, the company would issue GDRs worth US dollar 100 million. The shareholders approved the twin resolutions of issuing GDRs and acquisition of tetley at the AGM. Two foreign bankers were currently carrying out due diligence exercise for Tetley acquisition, TATA said adding the cost involved would be around pounds 50 million to pounds 75 million. Besides the GDR issue, TATA Tea would raise some loan in addition for Tetley acquisition and an investment banker would hold some share in the SPV, he said. Explaining the reason behind TATA tea not acquiring tetley directly, he said that this was done primarily to insulate the domestic company from fluctuations in the global industry. Terming it as a big acquisition, TATA said Tetley had not been a profitable company in the recent past and it just made a turnaround. The profitability projections for Tetley was 36 million pounds in the current financial year and once the Tetley operations under TATA management stabilised it would be merged with TATA Tea. (PTI) |
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IIFT opens doors to East Delhi students Excelsior Correspondent NEW DELHI, Sept 17: IIFT is presently one of the biggest fashion institute in India. It has been imparting fashion education for almost a decade now. Apart from fashion design IIFT is also offering courses like Textile Designing, Commercial Art, Apparel Merchandising, Garment Business administration and few others. IIFT has now opened its doors to the East Delhi students. A new centre of IIFT has come up in Gagan Vihar, Mrs Rachna Agarwal being its director. It was recently inaugurated on 1st Sept. 1999 by the famous bollywood actress Ms Shilpa Shetty. On this occasion this centre organised a Miss Pepsi Beauty Contest and a gala fashion show in FICCI auditorium. The winners were crowned by Ms Shilpa Shetty who was one of the judges alongwith Ms Manpreet Bror former Miss India. Also a career exhibition was put up by the students. According to Mrs Rachna Agarwal a few important features of IIFT East Delhi Centre are, firstly it is giving computerised training in all the courses offered. Apart from an unparallel curriculum it students will have the frequent opportunity to have a high quality interaction with respected professionals of their fields who will lecture & serve as adjacent professors. Also industry related and vocational courses of short term will be offered by this centre. As this centre is very new to the industrial town of UP i.e. Noida, the students will be closely working with readymade garment manufacturers & exporters for their field visit to there units. Also IIFT East Delhi assists its students in placement as Fashion Coordinator, Production Managers, Fashion Merchandisers, Textile Designer, Interior Designers, Art Director and many others. A separate section of East Delhi Centre will be catering to lower income group, where in it will be providing subsidy for its students. They have come up with instalments scheme, so that it is much easier for the students to pay their fees. Also we have other attractive inaugural offers for our students. The IIFT has aimed to train more designers in days to come, who will help the industry to reach a respective place in Fashion World. |
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Acquavit Inc to invest in Netacross Ltd NEW DELHI, Sept 17: Acquavit Inc, an incubator focussing on emerging internet startups, has announced their decision to invest in Netacross Ltd., a leading provider of business solutions. According to official sources, Acquavit will subscribe to 26 per cent of fresh netacross equity for an investment of 1.75 million dollars. This puts netacross’ post investment valuation at 6.75 million dollars. Acquavit and Netacross have also agreed to work in a preferred partner relationship extending web solutions to Acquavit’s incubatee companies. This relationship is expected to generate additional revenues of five to ten million dollars for netacross over the next one year. Acquavit Inc is an incubator focussing on leading-edge internet-based start-ups, operating within the India-US corridor. The firm’s mission is to develop individual, high-potential ideas into focussed and successful internet ventures. (UNI) |
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HC issues notices to Govt, BIFR in sick industries case NEW DELHI, Sept 17: The Delhi High Court (HC) today issued notices to the Centre, Board of Industrial and Financial Reconstruction (BIFR) and others on a petition challenging a Public Interest Litigation (PIL) seeking to strike down a section of the Sick Industrial Companies (Special Provision) Act. A division bench comprising Chief Justice S N Variava and justice S K Mahajan directed the respondents, including the original petitioner, who moved the PIL, to file replies by November 11, the next date of hearing. The PIL had sought striking down of the Section 22 of the Sick Industrial Companies (Special Provision) Act which provides a wide range of protection to the sick industries including those against recovery of sales tax. The court also had earlier issued notices on the PIL to Reserve Bank of India, Department of Law, Justice and Company Affairs and Department of Public Enterprises. However, BIFR Bar Association through an intervention plea today sought to challenge the PIL saying that Section 22 itself provides a mechanism to prevent its misuse. It also said that Indian industries were passing through a recessionary phase due to which references of sick units to BIFR had shown an upward trend. (PTI) |
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Compact tension and compression load cells ATCO Sensors Limited is the leader in manufacturing Strain Gauge based Load cells in India. ATCO load cells are manufactured to conform to International standards. The model (PSD2) is a Compact Tension & Compression load cell. They are made in capacities ranging from 2 tf, 3 tf, 5 tf, 10 tf & 20 tf, in nickle plated alloy steel and are moisture and corrosion proof. The load cells are hemetically sealed and provide an accuracy of 0.02% of Rated Output. They are designed withstand overloading upto 150% of the rated capacity, allowing safety against impact loading. These load cells confirms to IP 66 standards. They are perfect for Industrial & Commercial weighing such as in Multiple Load Cells Tank Weighing, Hopper Weighing and application requiring Tension & Compression load. ATCO load cells undergo severe quality assurance tests at various stages, right from the raw material procurement to the final inspection & packaging of the product, to guarantee best performance from every piece. The load cells are manufactured under very clean & dust free environment of high standards. (The load cells have standard mechanical accessories & technical data making it easily interchangeable with similar load cells available in the world market.) |
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Stic introduces 'Star Quest
Series' pens Now writing will no more be a boring experience alongwith Stic new exciting Hi Fi and Retra Ball pens based on Film Stars and Cricket Theme Designs. Targetted towards students and young people Stic Star Quest series are designed to give better writing experience with some entertainment. 'Star Quest Series' pens have photographs of famous film stars imprinted on them which are launched under license from the First Serve Entertainment India, a Vijay Amritraj Company of Chennai and USA based company Upper Deck, LLC. Stic has created very attractive colourful pen sets in keeping with its tradition of always offering new trendy pens for its young customers. Currently the star line that happens to be on Stic Pens includes the famous, most wanted stars of the film industry like Ajay Devgan, Manisha Koirala, Jackie Shroff and Gulshan Grover. Upper Deck Company is also looking forward to make arrangements with other famous Film Stars. With STIC 'Crazee about cricket set' the cricketing excitement can be experienced again. This new launch of Stic has cricket theme designed on them to make waiting experience truly more enjoying for the kids. This set of stic Theme Designer Pens named as Star Quest Series and Crazee about Cricket, is priced at Rs 20. The set includes one Hi Fi and one Retra Ball Pen. These special colourful packs are ideal for informal low cost gifting and Birthday return gifts. STIC is an established brand in writing instruments industry that has made indelible mark on pen industry ever since its inception. The STIC product line includes Roller pens, Fine liners, Ball pens, Colouring pens, Fountain pens and makers. STIC has most sophisticated state of art plant at Delhi and Gurgaon, which is capable to produce over 6 lakhs pens a day. The STIC theme designer pens are being made available in selected gift stationary shops, Novely stores, School shops and departmental stores out of total one lakh outlets which are being covered through its 400 distributors all over India. |
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Exhibits of horror decks docks in Mumbai MUMBAI, Sept 17: The International Transport Workers’ Federation’s (ITF) 500-foot cargo ship, ‘mv global mariner’ arrived at the Mumbai Port, giving people a chance to enlighten themselves about the hardships of sea-life and campaign against the Flags of Convenience (FoCs) ships. The vessel which arrived yesterday will be docked at the Mumbai port till September 22, before leaving for Karachi. The global mariner, which is on a worldwide voyage arrived here from Sri Lanka after touring 64 countries across the globe. The aim of the voyage is to wage a battle against the 22,000-odd focs ships. An FoC ship is a vessel wherein the shipowner, whose business interests are in one country chooses to register his ship in another country. This he does because there are low or non-existant taxes, relaxed standards of safety and training and no restriction on the nationality of the crew employed in that country. "About 22,000 ships are FoCs," ITF Assistant General Secretary Mark Dickinson told on-board the global mariner. "We hope to eradicate such ships which are hardazous to environemnt, lack safety features and exploit labour," he said. The ship has now been thrown open for public viewing after the exhibition on board the vessel being inaugurated by noted trade unionist S R Kulkarni, who is also the president of All India Port and Dock Workers’ Federation. The ITF was founded in 1896 by the European Seafarers and Dockers Union leaders who were required to organise against strike-breakers. The ITF has now over 500 member Unions comprising from sea, road, rail and air modes of transport in over 125 countries. The Federation in order to highlight the plight of seafarers and dockers, has launched the global mariner last year. During her 20-month voyage it will try to cover all the maritime nations across the globe and create awareness through exhibits which include photographs, videos, and CDs, apart from workshops and lectures. The countries which have been declared as FoCs by the ITF include Antigua and Barbuda, Aruba, Bahamas, Belize, Bermuda, Mayanmar, Cambodia, Canary Islands, Cayman Islands, Cook Isands, Cyprus, Gibraltar, Honduras, Lebanon, Liberia, Luxemberg, Malta, Mauritius, Netherlands Antilles, Panama, St Vincent, Sri Lanka, Tuvalu and Vanuatu. The global mariner is a living example of the shipping industry today: A real cargo vessel, showing some of the technical changes which have occured in shipping in recent years. A 12,778 gt general cargo wtin-decker (formerly named as lady rebeca), she was built in June 1979 by sunderland shipbuilders, UK for the bank line ltd. Her original name was ruddbank. The ship is powered by one of the last docford engines. The Doxford opposed piston engine in the last British designed marine engine. The ITF purchased the ship from Hongkong company, South Asia Shipping Ltd for US dollar 3,050,000. The ship was renamed mv global mariner in 1998, and reflagged to the British register — symbolising the bottomline of the ITF campaign — to have vessels flagged in the country of their real ownership and the subject to the control of a bonafide flag state. The cost of the ITF voyage is 11 million. The exhibition on-board the ship is unique in several features. The cinema shows films relating to the shipping industry, including some of the most notorious events of maritime industry. On a lighter note - a "disney-like" animation film, especially commissioned by the ITF, portrays their role in helping the seafarers. Al ross (an albatross) rescues paco (the seafaring mouse) from a shipowner (a shark) and his agents (the rats). (UNI) |
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Gold seek further low level ahead of gold sale NEW DELHI, Sept 17: Gold prices sought further low levels on the bullion market today ahead of gold sale by Britain as market adopted a wait and watch policy and closed with losses. Silver was slightly better following change of fund investment from gold which remained under depressed conditions in view of the second gold auction by Bank of England on September 21. Marketmen said the planned gold auction pushed down the gold prics world wide as it quoted lower in day-to-day trading on the international bullion markets. Likewise conditions in the upcountry markets influenced the trading sentiment here and reduced the volume of business. Standard gold and ornaments lost another Rs 10 at Rs 4040 and Rs 3890 per ten gram respectively. Sovereign remained unchanged at Rs 3625 per piece of eight gram. Silver .999 (ready) recovered by Rs 10 at Rs 7820 per kilo and weekly delivery by a same margin at Rs 7830 per kilo. Silver coins were quoted at last level of Rs 10,700/10,800 per 100 pieces. The following were today’s quotations: Silver .999 (ready 7820 and delivery 7830. Silver coins buyer 10,700 and seller 10,800. Standard gold 4040, ornaments 3890 and sovereign 3625. (PTI) |
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