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| India to amend Patent Act to ensure supply of cheaper drugs NEW DELHI, Dec 12: India will further amend its Patent Act of 1970 to provide ‘process and product patent’ protection.........more Halliburton
may have WASHINGTON, Dec 12: A Pentagon audit of Halliburton, the oil services firm once run by Vice President Dick Cheney...more Inflation
up marginally NEW DELHI, Dec 12: The overall inflation went up marginally to 5.25 per cent for the week....more Himalaya
brings NEW DELHI, Dec 12: Domestic herbal healthcare leader Himalaya drug company has rechristened its personal care range......more |
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TN village Panchayat seeks to get award for cleanliness COIMBATORE, Dec 12: The District Administration has recommended to the Union Government to recognise.....more World
Bank-farmer WASHINGTON, Dec 12: Rich countries should not bring concern about compensation for their domestic farmers to the......more Adobe
quarterly SAN FRANCISCO, Dec 12: Adobe systems inc. said on Thursday its fiscal fourth-quarter profit doubled from a year.....more US to
target China WASHINGTON, Dec 12: The US commerce department said on Thursday it has launched an investigation that could lead....more |
India to amend Patent Act to
ensure supply NEW DELHI, Dec 12: India will further amend its Patent Act of 1970 to provide ‘process and product patent’ protection to domestic pharmaceutical and chemical products to ensure the availability of drugs at affordable prices to the common man before the trips agreement of the wto comes into effect on January 1, 2005. The amended act will contain provisions for grant of compulsory license and revocation of patents if the reasonable requirements of the public have not been satisfied or patent invention is not available to the public at an affordable price, Minister of State for Commerce and Industry S B Mookherjee informed the Lok Sabha today. The Act — amended in 2002 to make its provisions consistent with the trips agreement — does not provide product patent protection to pharmaceutical and chemical products. The Doha declaration trips agreement provides patent protection to all drug products and the manufacturing processes to all member countries. But recognising the fact that developing countries have low or no drug manufacturing capacity, the declaration relaxed the condition of compulsory licensing under paragraph six of the trips agreement. However, the general council of the WTO has allowed the manufacture or export of patented pharmaceutical products under a compulsory license to the countries with limited or no manufacturing capacities in the pharmaceutical sector. But, this relaxation will be available till January 1, 2005. Several opposition members wanted to know what was the Government policy to ensure supply of cheaper life-saving drugs to the poor people after the implementation of the trips agreement that would restrict indian pharmaceutical sector to the manufacture of non-patented drugs only. The multinational drug companies are holding a majority of process and product patents and also have enormous research and development (R and D) capacity, leaving a little scope of competition for Indian players, they pointed out. The MNCS are selling their products at higher prices and earning big profit margins, they added. The minister said the amended law would also take care of the fact that India has a good drug manufacturing base and could export the medicines to the developing countries. India, as a developing country, can delay the application of the provisions on product patent under trips agreement till January 1, 2005, to areas of technology not so protectable in India on January 1, 2000, he added. (UNI) |
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Halliburton may have overcharged in Iraq -Pentagon WASHINGTON, Dec 12: A Pentagon audit of Halliburton, the oil services firm once run by Vice President Dick Cheney, has found that a Kuwaiti subcontractor may have overcharged it as much as 61 million dollars for fuel brought into Iraq, US Defense officials said. Halliburton’s Kellogg Brown and root unit, which won a no-bid US Government contract to rebuild Iraq’s oil industry in March, may have been paying the kuwaiti company as much as 2.20 dollars per gallon for unleaded gasoline, compared with 1.18 dollars in other contracts, a senior defense official said. A total of 56.6 million gallons of gasoline have been delivered through Sept 30 for Iraqi reconstruction, the official — who declined to identify the Kuwaiti subcontractor — told a Pentagon briefing. Under another KBR contract, the auditors found what they deemed a 67 million dollars overcharge for dining facilities throughout the region. The overcharge was denied before taxpayers were billed, the official said. KBR had been asked to respond to the findings, reached during routine audits by the Pentagon’s Defense Contract Audit Agency (DCAA), the official said. KBR is not suspected of improperly pocketing any taxpayer funds in either case but may have failed to ensure that its subcontractors performed as required, defense officials said. So far the company has generated about 2 billion dollars in business from the march contract. In a statement issued before the Pentagon briefing, Halliburton said it was supplying documentation requested by the auditors. "KBR is confident its processes will continue to stand against the rigorous audits conducted by the defense contract auditing agency," the statement said. It said it would not be appropriate to discuss specifics until discussions with the auditors were complete. (AGENCIES) |
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Inflation up
marginally to 5.25% despite NEW DELHI, Dec 12: The overall inflation went up marginally to 5.25 per cent for the week ended November 29 despite a sharp nine per cent fall in vegetable prices. The Wholesale Price Index (WPI) inflation was up by 0.01 per cent from the previous week’s 5.24 per cent mainly due to a sharp one per cent decline in the prices of mass consumption primary articles’ group and cheaper edible oils. However, the general price level was only 3.4 per cent a year-ago. WPI declined by 0.2 per cent to 176.3 points in the latest reported week even as prices remained unchanged at the fuels and manufactured products’ group level and the index was 167.5 in the previous year. Centre drastically revised upwards the point-to-point inflation to 5.32 per cent for the week ended October 4 as compared to the provisional level of 5.08 per cent, while the final wpi stood at 176.3 points as against the provisional mark of 175.9 points. A whopping 1.3 per cent fall in the prices of food items and a marginal 0.3 per cent in non-food articles pulled down the index for primary articles’ group to 182 points, while the index was only 176.1 points a year ago. Food articles group index plummeted to 183.7 points due to lower prices for fish-marine (10 per cent), vegetables (nine per cent), barley (four per cent), fruits and urad (two per cent each) and arhar and gram (one per cent each). Prices, however, rose for poultry chicken and jowar (two per cent each), eggs, masur, condiments and spices, wheat and fish-inland (one per cent each). The index for non-food articles’ group declined to 182.7 points owing to cheaper raw silk (six per cent), gingelly seed and raw skins (three per cent each), soyabean and raw rubber (two per cent each) and fodder, raw jute, rape and mustard seed, groundnut seed, raw cotton and cotton seed (one per cent each). But there was 11 per cent price rise for sunflower and one per cent for castor seed. Fuels, power, light and lurbricants’ group index stood firm for the second consecutive week at 253.6 points and the index was 240.1 points a year ago. The index for heavy-weighted manufactured products’ group also remained unchanged at the previous week’s level of 157.1 points even as prices fell for food products, textiles and machinery. The index was 148.4 points in the previous year. Food products’ group index was down substantially by 0.5 per cent to 163.9 points owing to lower prices for Khandsari and rice bran oil (four per cent each), oil cakes (three per cent), solvent extracted groundnut oil, salt and coconut oil (two per cent each) and imported edible oil, rape and mustard oil and groundnut oil (one per cent each). However, there was a one per cent rise each in the case of hydrogenated vanaspati and gingelly oil. (PTI) |
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Himalaya brings personal care
range NEW DELHI, Dec 12: Domestic herbal healthcare leader Himalaya drug company has rechristened its personal care range ‘Himalaya ayurvedic concepts’ in India as ‘Himalaya herbals’ — the existing brand name for the product range in the global market. In 2001, Himalaya decided to have a common brand name across the world, but in India, the company had retained the ayurvedic concepts name under the main Himalaya brand, waiting for a smooth transition. Today, with the consumers identifying ayurvedic concepts with Himalaya and asking for Himalaya products, the transition was easy, personal care division business head Soumitro Banerji said in a statement here. He said the personal care products with its new brand name would compete with international brands in India, the US, South America, Europe, west Asia, Africa and Asia Pacific. The Bangalore-based company has also unveiled a new packaging and logo for the personal care range in line with the new branding. The new packaging for the products with its trendy, contemporary look is in line with the plans, he said adding that the ayurvedic concept packaging was good but did not have an international appeal with a serious look. Mr Banerji said, "the change in look was necessary as the company is looking at extending its consumer base." As part of the strategic initiative, Himalaya has embarked on a brand positioning and communication exercise with focus products like shampoo and skincare lotions in the personal care range. Pointing out that the new look personal care products, around 30 of them, would be introduced in a phased manner in the market, he said Himalaya is also planning a multi-crore multi-lingual, multi-media campaign for its herbal range. The personal care segment is likely to post in sales turnover of Rs 60 crore in the domestic market in 2003-04, compared to around Rs 45 crore in the corresponding year. (UNI) |
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TN village Panchayat seeks to get award for cleanliness COIMBATORE, Dec 12: The District Administration has recommended to the Union Government to recognise Semmipalayam village Panchayat as the best and cleanest in the country. Showing 100 per cent implementation of various projects under the Panchayat, about 30 Km from here, District Collector M Muruganandam told visiting newspersons yesterday that the civic body had ensured that the local school dropout rate and child labour were zero and each of its 1,648 houses had individual latrines and tap connection. Besides, the Panchayat, with a thorough drainage and sewage water cleaning system and fully mechanised garbage management, had been carrying out tree plantation in a big way. It was also promoting natural resource management and had renewable energy resource system in each of its house-hold in the Panchayat with six villages —Semmipalayam, Samigoundan Palayam, Guppusamy Naidupuram, Nehru Nagar, Semmipalayam Pudhur and Samigoundanpalayam Puthur. The entire population depended only on ground water for its needs. To maintain its level, the Panchayat has built four checkdams at a total cost of Rs 5.5 lakh, its President V Ponnusamy said. All the maintenance work was being carried out by 15 women self-help groups. The Panchayat has taken various innovative initiatives to accelerate overall development. DRDA Project Director K Jayabalakrishnan showed a Rs 1.50-crore biogas plant that produced energy from human excreta collected from 150 houses situated in a group house colony. This was being used to pump bore-well used for bathing and washing in the integrated sanitary complex for women and children, besides cleaning vessels and cooking in the local anganwadis. The Panchayat has a wind energy mill constructed at a cost of Rs two lakh. The energy is used to pump bore-well water to nearby primary and high schools besides the women shg members to wash clothes. The Panchayat has a tree-pit machine that has so far helped plant 2,500 saplings. This Rs 15,600 machine is now being hired out for other Panchayats, Mr Ponnusamy added. (UNI) |
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World Bank-farmer compensation not a trade talks issue WASHINGTON, Dec 12: Rich countries should not bring concern about compensation for their domestic farmers to the tables of world trade talks, a senior World Bank official said on Thursday. Farmers who would lose out if agricultural subsidies are cut should be compensated, but the issue is one of domestic politics and should not hold up the talks, the bank’s new Chief Economist Francois Bourguignon said. "The problem for France and the US and Italy and Spain and all the big agricultural producers in Europe is how they will be able to compensate the people who lose out in their countries," he told in an interview. "But you cannot say that this is an international issue (in trade talks). We are not talking about that." World Trade Organization states have been trying to get talks back on track since September, when deep divisions between rich and poor nations — particularly over agriculture — led to the failure of talks in Cancun, Mexico. Negotiators are due to meet in Geneva next week. (AGENCIES) |
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Adobe quarterly profit doubles, stock up SAN FRANCISCO, Dec 12: Adobe systems inc. said on Thursday its fiscal fourth-quarter profit doubled from a year earlier, helped by 40-percent growth in its epaper unit that includes its acrobat document-sharing software. Adobe’s better-than-expected results sent company shares up almost 5 percent to 41.70 in after-hours trade on instinet. Adobe’s net profit jumped to 83.3 million, or 34 cents per diluted share, from 40.1 million, or 17 cents per diluted share, in the year-ago November quarter. Revenue was up almost 22 percent to 358.6 million, from 294.7 million. Analysts, on average, had seen the San Jose, California, company earning 32 cents a share on revenue of 342 million, according to research. For the current quarter, Adobe is forecasting revenue of 360 million to 380 million and net earnings of 33 cents to 36 cents per share. Prior to the company’s earnings announcement, Adobe’s stock closed up 1.70 or 4.5 percent to 39.78 on the Nasdaq. (AGENCIES) |
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US to target China furniture imports WASHINGTON, Dec 12: The US commerce department said on Thursday it has launched an investigation that could lead to steep anti-dumping duties on more than 1 billion of wooden bedroom furniture imports from China. The decision came days after a meeting between US President George W Bush and Chinese Premier Wen Jiabao, where the two leaders tried to quell rising trade tensions. In recent months, the United States has used its trade protection laws to curb rapidly rising imports of textiles, televisions and other products from China. US furniture makers have asked for duties ranging from 158 percent to 441 percent on wooden bedroom furniture from China. Imports of the product have tripled from more than 400 million in 2000 to an estimated 1.2 billion this year, according to US industry. (AGENCIES) |
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Japan tankan big firms Dec sentiment index plus 11 TOKYO, Dec 12: The key diffusion index for large manufacturers in the bank of Japan’s quarterly "tankan" business sentiment survey improved to plus 11 in December from plus 1 in September, the central bank said on Friday. It was the highest since June 1997. The median forecast in a poll of 12 economists was plus 6. Sentiment among large non-manufacturers was minus 9, better than September’s minus 13 and in line with the poll forecast. The survey showed that large manufacturers see the sentiment index at plus 8 in march, beating their own expectations of plus 3 in the previous survey and in line with a median forecast by economists of plus 9. The index measures business sentiment by subtracting the percentage of companies reporting unfavourable conditions from those that say they are favourable. (AGENCIES) |
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Instanex Skindia DR, P/E premium indices in limelights MUMBAI, Dec 12: The Instanex Skindia Depository Receipts (DR) index shot up by 1.97 per cent to 960.71 points on December 11, 2004 from 942.19 points on the previous day. According to the daily update provided by city-based Instanex Capital Consultants Pvt Ltd, Instanex Skindia DR Index P/E also rose by 2.03 per cent to 18.61 points from 18.24 points. Similarly, the Skindia Index premium, too jumped up by 9.31 per cent to 24.64 per cent from 22.54 per cent during the same period. Out of the 15 ADRs and GDRs, 12 (seven) gained, three (eight) declined, while none of the scrips (nil) remained unchanged. Satyam Computer (ADR), Wipro (ADR) and HDFC bank (ADR) were the top gainers, while VSNL (ADR), Ranbaxy labs (GDR) and Bajaj auto (GDR) were the major losers, the release added. (UNI) |
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Democrats urge Bush to develop world textile plan WASHINGTON, Dec 12: Democratic leaders urged US President George W Bush on Thursday to develop a plan to prevent millions of textile workers in the United States and developing countries from losing their jobs to China when a decades-old international quota system expires in 2005. House of representatives democratic leader Nancy Pelosi of California and other top democrats asked Bush to organize a summit of industry and Government officials from around the world to help craft a "comprehensive solution" to the problem. They also called on Bush to end his administration’s refusal to release a US international trade commission study on the impact of ending the quota system. "The secrecy concerning the impact of the expiration of the quotas on US jobs and businesses, and that of important trading partners, is unwarranted and harmful," they said. World Textile Trade has been dominated since the early 1960s by a quota system that limits the amount of textile and apparel products that foreign producers can ship to large markets like the United States and Canada. Under a deal struck in 1994, those quotas have been gradually phased out, with the last quotas due to expire at the start of January 2005. Although substantial US tariffs will remain on many textiles, US producers fear a flood of imports from China when all quotas are removed. Many developing countries, which are guaranteed access to a portion of the US market under the quota system, also fear they will be swept aside by China. "The possibility of significant economic contraction and the loss of millions of jobs in developing countries should be alarming on many levels," the democrats said. "Equally, there are likely to be substantial adverse economic consequences to US businesses and workers." With only 13 months until the quotas expire, the United States and other Governments appear to be taking no steps to address the potential crisis, they said. (AGENCIES) Ukrainian Airline begins direct flights to India KIEV, Dec 12: A Ukrainian Airline opened a new direct air link between Kiev and New Delhi, Interfax News Agency reported. The privately-owned firm Aerosvit Airline will operate a Boeing-767 mid-range aircraft twice-weekly between the two capitals. Passengers wishing to fly between the two countries previously had been forced to transfer in a transit hub neighbouring Ukraine, most often Istanbul or Moscow. A two-way ticket on the new route costs around 500 dollars. Some 80 per cent of passengers on the route are persons with onward destinations, according to the report. (DPA) |
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