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Xansa to take its head NEW DELHI, Dec 8: UK-based technology and Business Process Outsourcing (BPO) services provider Xansa plans.........more Govt
says CAS has NEW DELHI, Dec 8: Government said today it has not shelved the Conditional Access System and no instance of exploitation....more Sing
near November highs SINGAPORE, Dec 8: 0110 GMT — Singapore dollar nears mid-November highs after weaker-than-expected US jobs data pulls the US ....more US
may restore preferential NEW DELHI, Dec 8: The Government today said the US may restore the GSP (generalised system of preferences) benefits to 850 Indian items of ....more |
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India invites Japan to outsource business TOKYO, Dec 8: India today invited Japan to outsource business to tackle the problem arising out of high percentage of......more Yamaha
sets a new high Excelsior Correspondent BANGALORE, Dec 8: Yamaha Motors India today, in yet another strategic move......more Software
Dev centre SINGAPORE, Dec 8: India’s third-largest information technology company is opening its first software development.....more Tata
motors working on NEW DELHI, Dec 8: India’s homegrown auto major Tata motors is working on various new models, including the Rs one......more |
Xansa to take its headcount to 10,000 in India NEW DELHI, Dec 8: UK-based technology and Business Process Outsourcing (BPO) services provider Xansa plans to increase its employee strength in India by more than 100 per cent this fiscal and eventually take it to 10,000 in the next four to six years. Xansa’s employee strength at the end of last fiscal stood at 949 from 1,083 in 2001-02. By the end of 2003-04 it hopes to employ 2,000 people in India. In the first six months of FY04 it has added more than 500 people. The company now has 1,426 employees in India. "Based on current growth, Xansa could meet its target of 10,000 workers in India in the next four to six years," reports quoting senior company officials said. Xansa currently has the capacity for 1,525 staff at its newly-opened facilities in Noida and Chennai, and space for a further 400 workers is due to be added in Pune early next year. "Once fully built, our total capacity in India will provide 10,000 seats on a single-shift basis," the officials said. Apart from India and UK, Xansa has establishments in North America, Continental Europe and Asia Pacific region. The company has already announced that it plans to pull out of its continental European operations after posting fall in operating profits. Xansa said it did not believe that the market on the European mainland is ready for large scale it outsourcing. It said it intended to exit the operations while keeping the option of re-entering the market when it is more developed. The company employs 49 people in continental Europe, mainly in France. According to dataquest estimates, Xansa’s revenues from India in 2002-03 were Rs 173 crore, down three per cent from Rs 178 crore in 2001-02. Net profits in 02-03 were Rs 44.38 crore compared to Rs 43.06 crore in 01-02. (UNI) |
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Govt says CAS has not been shelved NEW DELHI, Dec 8: Government said today it has not shelved the Conditional Access System and no instance of exploitation by cable operators because of absence of any clear-cut directions on the issue has come to its notice. Information and Broadcasting Minister replied in the negative to a question in Rajya Sabha by Raj Kumar Dhoot on whether the Government had shelved CAS. On whether it was aware that in the absence of any clear-cut directions, the cable operators were exploiting consumers, Prasad said in written reply "no such instance of exploitation has come to the notice of the Government". However, "adequate safeguards" have been provided under the Cable Television Act", the minister added. To nilotpal Basu’s query on whether set top boxes have been introduced in Chennai, Prasad said 12,000 boxes are estimated to have been either sold or rented in that city. "Consumers in Chennai appear to be satisfied with the free-to-air channels at a cost of Rs 72 (plus taxes) being presently received for which no STB is required. Moreover, some popular pay channels have switched over to FTA category in Chennai," the minister added. When asked if Government was considering setting up a Broadcasting Regulatory Authority, he replied in the affirmative but "no precise time frame can be indicated at this juncture". (PTI) |
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Sing near November highs after data hits US dollar SINGAPORE, Dec 8: 0110 GMT — Singapore dollar nears mid-November highs after weaker-than-expected US jobs data pulls the US dollar down to three-year lows against the yen and close to its weakest against the euro. — Sing dollar SGD= is quoted at 1.7125/35 per dollar, up half a cent from Friday’s levels in Asian trade. — Traders say fear of intervention by Japanese authorities to cap the rising yen and worries the monetary authority of Singapore will step in, should keep traders wary of re-testing November’s three-year high of near 1.7095. — Markets watch for news out of Chinese Premier Wen Jiabao’s four-day visit to the United States, since he is expected to face criticism of China’s currency policies. But no significant market-moving announcements are expected. — Korean won KRW= KRW=KFTC rises past a key resistance at 1,190 in offshore deals and the Taiwan dollar TWD=TP firms in opening deals to 34.09 per dollar. (AGENCIES) |
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US may restore preferential treatment to Indian agro export NEW DELHI, Dec 8: The Government today said the US may restore the GSP (generalised system of preferences) benefits to 850 Indian items of exports in the areas of agricultural chemicals and pharmaceutical products. These products are eligible for preferential treatment from other countries. "India’s request for early restoration of GSP benefits on these products has received positive indications for consideration by the US Government," Minister of State for Commerce and Industry S B Mookherjee informed the Rajya Sabha in a written reply. The US Government presently extends the benefit of the GSP scheme to about 140 developing countries, including India. In the calendar year 2002, India exported duty free products worth two billion dollar under the GSP programme of the US. Mango exports: The Centre has approved three agri-export zones for mango, pulp and fresh vegetables, in different districts of Andhra Pradesh for facilitating production of mangoes for exports. Assistance for development of fruits is provided under the centrally-sponsored scheme in agriculture, the minister said. (UNI) |
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India invites Japan to outsource business TOKYO, Dec 8: India today invited Japan to outsource business to tackle the problem arising out of high percentage of aging population. "This was a win-win situation for both countries... Business outsourcing was the only way to overcome the demographic handicap and yet sustain profitability and growth," Planning Commission member N K Singh said today. Singh also highlighted India’s economic advantage and the new opportunities deregulation and reforms have created for Japanese investment particularly in infrastructure. Participating at a symposium organised by Japanese Government, Singh also listed ports, airports privatisation, roads, power and agro-processing as sectors which could attract Japanese investment. Several economists and experts in international relations including Stephen Cohen of brookings institute, Gong Shao-Peng of foreign affairs collects, Yoshimi Ishikawar of Akita College participated in the symposium which highlighted the strategic importance of India and prospects for Indo-Japanese Cooperation. Singh said the shifting consumption pattern of India’s rich urban middle class for white and brown goods offered great scope for Japanese companies, which have excelled in mass consumption goods like television, entertainment and cooling systems. Giving the rationale how business outsourcing from India would benefit Japan, Singh said this can postpone large scale migration and can help buy time for enabling countries to redesign production patterns, alter nature of economic activities along with other measures to diminish the impact of demographic challenges. A credible alternative would be to enhance the profitability of capital dramatically, secure increased participation of women into the workforce, postpone retirement even beyond the present limits and alter the nature of current activities, he said. The other alternative was to accept an aggressive migration policy on a scale so far unprecedented and Japan alone would require 600,000 migrants every year to sustain the workforce at the current levels, he said. But these alternatives had limitations as they involved several policy issues including creation of a transparent, non-discriminatory multilateral framework on migration, harmonising the issue of brain-drain and a fiscal policy which enable the gains of wealth and value creation to be equitably shared. (PTI) |
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Yamaha sets a new high with low interest rates Excelsior Correspondent BANGALORE, Dec 8: Yamaha Motors India today, in yet another strategic move, announced a tie-up with the Syndicate Bank, The pact between the auto major and the Syndicate Bank will offer excellent Two-wheeler Loan Scheme for Yamaha’s potential customers across the country. With one of the lowest interest rate in the market of 9.5 per cent, the alliance is bound to create a stir in the two-wheeler finance market, a release said. Syndicate Bank has branch-network of nearly 200 across the country. This alliance will enable Yamaha Motor India with 450 dealerships in India to expand their reach and deepen their penetration of the two-wheeler segment market in the words of R R Prasad, Associate VP, Marketing—Yamaha Motor India. The USP of these loan schemes in Easy-&-Quick finance, because we want to give our customers the best experience, not only while riding our motorbike. but also when buying them." Yamaha Motor already enjoys leadership in the rural and mini-metro segment, with a wide array of product offerings. Through this tie-up, the company seeks to strengthen its position across all two-wheeler segments and focus on a major retail expansion drive. Preferential loan scheme will be also available across the country in course of time. Yamaha Motor India Private Limited made its initial foray into India in 1985. Subsequently in 1996, it entered into a 50:50 joint venture with Escorts Group and two years back it acquired with mutual consent remaining half stake as well, bringing the Indian operations under its complete control as a 100 per cent subsidiary of Yamaha Motor Co, Ltd, Japan. |
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Software Dev centre to be opened in China by Indian firm SINGAPORE, Dec 8: India’s third-largest information technology company is opening its first software development centre in China next month and plans to eventually employ 5,000 staff, infosys technologies founder said in a published interview today. N R Narayana Murthy said the new development centre in Shanghai would start with a staff of 100 to 200 and expand the numbers to 5,000 within two or three years. China is set to become a key player in infosys operations given the total global staff of the Nasdaq-listed company stands at 20,000, he told the Straits Times. The Asian giant was chosen for the centre because it is not only the fastest-growing market, "it is also a great resource of human talent", Murthy was quoted as saying. The Shanghai software development centre will be the company’s second such facility in the region after Melbourne. A disaster recovery centre, intended as a back-up facility for continuing operations, is operational in Mauritius, Murthy said. The facility could be developed further to house a software development centre. (DPA) |
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Tata motors bets on new launches for growth NEW DELHI, Dec 8: India’s homegrown auto major Tata motors is working on various new models, including the Rs one lakh dream car, on the back of which the company expects to become the country’s leading carmaker. "Obviously, there is a huge gap between us and the current market leader and a diversified portfolio is one of the usual ways for growth," Tata motors commercial vice-president (passenger car business unit) Rajiv Dube told UNI. The company, which has a 16 per cent share in the passenger car market through its offerings, the hatchback Indica and Sedan Indigo apart from utlility vehicle Sumo and Suv Safari, has lined up a series of new launches including a sports variant of the Indica and a station wagon Indigo. "Trial runs have been carried out for these models and they are ready to hit the roads soon, which we expect before the end of this fiscal. "However, the only glitch in their launch is production constraint as the X1 platform on which the Indica and Indigo are made has a capacity of around 1,50,000 per annum which we plan to augment next year so that domestic demand as well as export commitments can be met," Mr Dube said. However, he refused to divulge the level of expansion, saying it was currently under study. "That is being studied and apart from going on the third shift, we may have to also go in for capital expansion for the facility," he said. On the much-hyped Rs one lakh car, the dream of Tata sons chairman Ratan Tata, he said the company was working on the concept of the proposed entry-level car. "The project to make an entry-level car with Rs one lakh price is under conceptualisation. It may take three to five years to develop the vehicle," Mr Dube said. The commercial vice-president said Tata motors expected a 20 per cent growth in the passenger vehicles segment this fiscal because of higher sales of Indica and Indigo. "We are currently growing at 43 per cent and expect that by the end of this fiscal, sales will rise over 20 per cent," he said, adding that last fiscal sales stood at 1,04,414 units. The company’s sales for the April-November ‘03 period grew 42.8 per cent year-on-year, and have already reached 89,973 units. While Indica sales grew 11 per cent to 53,103 units, that of Indigo, launched in December last year, stood at 17,874 vehicles. Tata motors’ utility vehicle sales stood at 19,064 units in April-November ‘03, showing a growth of 26.5 per cent. While Safari sales went up by 22 per cent in the period under review, that of sumo shot up by 27 per cent. Mr Dube said new variants of the Sumo will be launched over the next three years before the company rolls out a completely "new generation" multi-utility vehicle. However, he denied that the company would launch a new-look Sumo in January. Tata motors had recently introduced a petrol version of the Safari and also variants of the Sumo. Mr Dube said the company was also working on the Aria sports car and the Indiva multi-purpose vehicle, both based on the Indica’s X1 platform. He said tata motors is also developing new diesel engines and plans to adopt Common Rail Direct Injection (CRDI) technology across the engine range within two years. The company has also seen exports surging, primarily on the back of the huge order from Britain’s M G Rover. Under the arrangement, Tata motors will supply around 1,00,000 Indica cars in the next five years. It is also in talks with Iran’s Khodro company where it is looking forward to an arrangement similar to the one with rover. (UNI) |
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India under no pressure to reduce agri subsides: Govt NEW DELHI, Dec 8: Asserting there was no pressure on India to reduce agricultural subsidies, Government today told Rajya Sabha that G-21 countries would hold a meeting on December 12 in Rio De Janeiro in Brazil to sort out contentious issues in the farm sector. Replying to supplementaries during question hour, Commerce and Industry Minister Arun Jaitley said he was given to understand that the G-21 meeting would be an extended one and would be attended by representatives of the European Union besides the Director General of WTO. Jaitley said an official-level meeting of the WTO would also be held in Geneva on December 15 where agriculture and Singapore issues relating to trade and investment would be discussed. The minister said while subsidies in the country were well within WTO stipulations, India and other developing countries opposed trade distorting agriculture and farm-export subsidies as these would depress international prices and as a result of glut in food production that would have a deleterious effect on countries like India. "There is no pressure to scale them (subsidies) or withdraw them. Only domestic economic factors will influence them", Jaitley said. The minister said subsidies being offered to Indian farmers for transport and fertiliser areas were well within norms and "head space and upper limits" still remained to increase them if required. (PTI) |
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produce quality food MYSORE, Dec 8: The railway authorities have sought technology from the Central Food Technological Research Institute (CFTRI) here to produce quality food at a low cost to cater to the needs of the passengers, South Western Railway Additional Divisional Manager Arvind Khare has said. In a paper on the requirement of quality food for Indian Railway passengers presented at the fifth international food convention, organised by CFTRI here yesterday, he admitted that the quality of food supplied to the passengers was not up to the mark. Railways operates more than 11,000 trains carrying about 13 million passengers each day. Quwality of food supplied in the trains was never a priority for the railways, as they confined themselves merely to the operation of train services and the supply of food was left to vendors and catering contractors. Mr Khare said the passengers needed a well-managed catering system for the supply of tasty and wholesome food at reasonable prices. A study of the catering services indicated that infrastructure, hygienic practices followed by the staff and the catering process from storage of raw material till preparation of food were unsatisfactory. There seemed to be no monitoring of catering operations, he observed. He said the railways provided a gigantic food market, the value of which was reckoned to be almost Rs 2000 crore. This was based on the assumption that of 11 million passengers, at least 50 per cent spent a minimum of Rs 10 a day on food while traveling. Hence, food technologists should pay attention to this market, which was bound to expand in the future, he added. (UNI) |
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UP pays Rs 1,039 crore cane dues LUCKNOW, Dec 8: The Uttar Pradesh Government has paid more than Rs 1,039 crore from August last till now as cane dues while cane worth Rs 4,994 crore was crushed by sugar mills during the period. Secretary, cane development and sugar industry, Mr Majid Ali said here that Rs 232.43 crore had been paid by the units of state sugar corporation, Rs 354.40 crore by the UP Sugar Mills’ Federation and Rs 452.56 by private sugar mills. Corporation sugar mills and cooperative sugar mills had also been directed to clear the remaining dues through own resources, he added. (UNI) S Korea to extend lower crude oil tariffs until ‘04 SEOUL, Dec 8: South Korea, the world’s fourth-biggest oil buyer, planned to extend lower tariffs on crude oil imports until the end of next year to help boost a sluggish economy, the Finance Ministry said on Monday. The Ministry of Finance and Economy cut the tariff on crude oil imports in July to three percent from five percent previously, effective for six months. South Korea, Asia’s fourth-biggest economy, climbed out of recession in the third quarter led by robust exports, but sluggish domestic consumption has held back a full-fledged recovery in the economy. (AGENCIES) |
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