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| ITC launches Sunfeast range of biscuits in Jammu Excelsior Correspondent JAMMU, Dec 18: ITC Limited—Foods Division today launched Sunfeast range of high quality biscuits with offerings in Glucose, Marie and..........more Excelsior Correspondent SRINAGAR, Dec 18: The ever-gaining Jammu and Kashmir Bank share touched today a new high of Rs 329.00.....more Economy
resilient to BANGALORE, Dec 18: Reserve Bank of India today said the economy had enough resilience to absorb rise in global....more China
FDI slump may BEIJING, Dec 18: Is the day of big foreign moves into China over? ......more |
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Aptech bags Best IT Trainer award Excelsior Correspondent NEW DELHI, Dec 18: Aptech Limited, leading IT education provider, bagged three awards at the Franchise Awards 2003. Aptech won the best IT trainer award in the category of IT training....more India develops MEOR technique for oil extraction NEW DELHI, Dec 18: India has developed the Microbial Enhanced Oil Recovery (MEOR) technique for increasing ......more India has fastest growth in mobile telephony : Shourie NEW DELHI, Dec 18: India has the fastest growth in mobile telephony in the world with 13 lakh cellular connections...more Vietnam buys 15,000 T Indian soymeal — traders SINGAPORE, Dec 18: Vietnam has bought 15,000 tonnes of Indian soymeal for January shipment and buyers are eyeing ....more |
ITC launches Sunfeast range of biscuits in Jammu Excelsior Correspondent JAMMU, Dec 18: ITC Limited—Foods Division today launched Sunfeast range of high quality biscuits with offerings in Glucose, Marie and cream segments. Addressing the media-persons after announcing the launch of Sunfeast, Branch Manager of ITC Limited—Foods Division Bhanu Routray said that the launch of Sunfeast marks ITC Foods’ entry into the branded biscuit market with a range of offerings in both basic and value added segments. According to him, the latest offering from ITC Foods was in tune with the company’s strategic direction to develop new product lines by synergising its proven competencies. "We believe that our understanding of the Indian consumer is reflected in the increasing confidence in the ITC brand and more importantly the trust that Indian consumers are reposing in all our products", he said. "Though 80 percent biscuits market is captured by the Britania and Parley yet we are the number one in the Indian market in providing two unique and new flavours—Orange Marie and ButTerscotch Cream Biscuit", the Branch Manager of the company claimed and said that the entire range of the Sunfeast biscuits would be packed in vibrant colours, distinctive graphics and fonts identifying sub categories. Sunfeast is to be launched across the India in phased manner in over one million retail outlets, Mr Routray disclosed and added that as a part of promotion of product for every purchase of 100 gms and 75 gms of Sunfeast Glucose Biscuits— company bas been providing a series of 10 Tenali Raman and Akbar Birbal comics free of cost and for every purchase of Sunfeast Marie and Sunfeast Cream Biscuits, 75 gms of Glucose Biscuits free of cost. The company has a target of four percent of the market share in the first quarter and hoped to sell five-to six tonnes of biscuits per month in Jammu city. "The additional thing which we have is one extra biscuit in each and every pack of the Sunfeast, Mr Routray said. |
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Excelsior Correspondent SRINAGAR, Dec 18: The ever-gaining Jammu and Kashmir Bank share touched today a new high of Rs 329.00 at National Stock Exchange (NSE) and Rs 327.50 at Bombay Stock Exchange (BSE) after crossing the Rs 300.00 marks on Wednesday. The total number of share traded at NSE was about six lakhs and at BSE was about 1.50 lakhs. |
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Economy resilient to absorb oil price rise: RBI BANGALORE, Dec 18: Reserve Bank of India today said the economy had enough resilience to absorb rise in global oil prices and said it is keeping a close watch on inflation. Speaking to reporters after the RBI board meeting here, RBI Governor Y V Reddy also said there is no need to "revisit" the inflation figures. "The economy has enough resilience, the systems have enough resilience, we have built a good mechanism for absorbing such shocks (oil price rise), even though, this (the current price rise) is not that much of a shock," Reddy said. "Our own record in the last few years show that the economy has very successfully absorbed such oil price increases, with least or in fact virtually no disruption," he emphasised. "We are confident that we would still be able to absorb that.. And as of now, considering the current outlook, there is no need to revisit the inflation," he said. Reddy said the inflationary figures for the current year remain what has been announced on November 3, and the RBI was "keeping a close watch". (PTI) |
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China FDI slump may signal fewer big deals BEIJING, Dec 18: Is the day of big foreign moves into China over? A drop in foreign direct investment in recent months has some economists wondering whether the world’s sixth-biggest economy is losing its lustre. While China remains a top destination for foreign capital, foreign direct investment — in which investors acquire non-financial assets, such as factories — has plummeted over the past year. It was down 39 percent in November from a year earlier, at 3.6 billion. Chinese officials had confidently predicted foreign direct investment would rise 10 percent to 57 billion for the whole of 2003, but just 47 billion arrived in the first 11 months, equal to the same period last year. Direct investment gathered steam in the first half, peaking at 7 billion in July alone. After that it plunged and has failed to top more than 3.6 billion in any one month. The delayed effect of the SARS outbreak helped dry up the flow of cash, economists said, adding that an inherent volatility of monthly investment made it a tricky number to forecast. But lately there have also been fewer huge deals like the record 4.3 billion petrochemicals plant announced last November by royal Dutch/Shell group. One of the last mega-deals was declared in June by Nissan Motor Co Ltd, which kicked off a 2 billion venture to help it catch up to rivals, such as general motors, that had placed their big China bets years ago. "A lot of the big companies, the fortune 500, have already invested in China. They need time to digest before they top up their investments," said Tai Hui, an economist with standard chartered in Hong Kong. With deep-pocketed multinationals having arrived early, a lot of new Foreign Direct Investment (FDI) would come from smaller firms seeking to cut costs and nestle up to big customers already in China. "What will drive FDI going forward will be their suppliers from overseas, the suppliers of general motors, the suppliers of Nokia," Hui said. That trend was backed by menlo worldwide, a top transport services company that expects its China business to surge by 30 percent a year as smaller firms set up shop, often at the urging of heavy-hitting multinational customers. "The smaller companies are trying to figure out how to do this," said Ed Feitzinger, vice president of Menlo’s technology arm, which may open an Asian service centre in China this year. He gave an example of a big semiconductor testing firm with a large presence in China that had called on its suppliers to move over as well. Others aren’t so sure that there are no more big deals to be done. They point to a sharp rise this year in contracts for future direct investment. In November alone, new contracts totalled 11.8 billion, nearly 70 percent more than a year earlier. "Even the big players want to expand their operations. There are still fairly large manufacturing sectors (in other countries) that can be hollowed out to China," said Rob Subbaraman, regional economist for Lehman brothers. But still, the sluggish investment was worrying and could not be chalked up solely to SARS, Subbaraman said. "I do wonder if foreign companies are becoming a bit more cautious because there has been so much investment," he said. "You could make the argument that foreign companies are more sensitive to the risks around business cycles and to the risk of a downturn that they are reacting earlier than state-owned enterprises and the Government." (AGENCIES) |
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Aptech bags Best IT Trainer award Excelsior Correspondent NEW DELHI, Dec 18: Aptech Limited, leading IT education provider, bagged three awards at the Franchise Awards 2003. Aptech won the best IT trainer award in the category of IT training. Mr Pramod Khera, CEO and Managing Director of Aptech was conferred the Man of Franchising award for his outstanding contribution to Franchising. Mr V Balasubramanian, Executive Director & Head of International Business was given the Business Leadership award. The Franchising Awards have been instituted by the leading publication " Franchising World" for honouring franchising and business excellence. The Franchise Association of New Zealand, which has mature criteria for evaluation, endorses it. John Foreman, Chairman of the Franchise Awards, New Zealand, consultant for the Franchise India awards has formulated guidelines for evaluating organisations. On this occasion, Pramod Khera said " the Franchising Award 2003 marks the coming of age for the franchising business in India". Aptech with 3000 franchise partners has always saluted the entrepreneural acumen. Aptech is leading IT training organisation with 3208 centres across 52 countries and an ISO 9001 2000 organisation which has trained over 2.5 million students in a range of IT and multi-media courses during the last 18 years. |
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India develops MEOR technique for oil extraction NEW DELHI, Dec 18: India has developed the Microbial Enhanced Oil Recovery (MEOR) technique for increasing production from oil wells, the Lok Sabha was informed today. The technique, developed jointly by the scientists of the energy and resource centre (Teri) and Oil and Natural Gas Corporation (ONGC), is at field trial stage, Petroleum and Natural Gas Minister Ram Naik said in reply to questions on disovery of microbes for oil extraction. He said the technology had been applied to 15 low productivity ONGC wells of Cambay onland basin in Gujarat. This included nine wells in Kalol, one each in Limbodra and north Kadi, and four wells in Sobhashan fields. A sum of Rs 1.46 crore had been earmarked for the field trials. If more money is required, it will be granted, he said adding that besides India, China and Malaysia were also doing researches on use of microbes for enhanced oil extractiion. Mr Naik said the MEOR technique was applicable to certain specific reservoir conditions and oil type conditions to enhance oil production from low producing wells. However, the technique could not be applied for revival of sick wells in general. Once the field trials are successfully completed, the technique will be used for commercial application, Mr Naik said, adding that the present pace of progress showed that the ongoing trials should culminate in success. Replying to supplementaries, Mr Naik said ONGC had about 475 sick oil wells in onland areas and 35 in offshore areas. (UNI) |
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India has fastest growth in mobile telephony : Shourie NEW DELHI, Dec 18: India has the fastest growth in mobile telephony in the world with 13 lakh cellular connections added every month, Minister for Telecommunications Arun Shourie informed the Rajya Sabha today. "We have taken revolutionary steps in the telecom sector...Some steps have been taken in universal licensing which will change the shape of the country. Wireless signals will be given more range. We are researching on that," the minister told the House during question hour. The minister denied that BSNL had lagged behind in the competition with private cellular operators saying that the growth of ‘cell one’ of the BSNL had unnerved private operators who had gone to Courts under one pretext or the other. Now the Government had taken some steps in universal licensing which would result in the growth of cell one operations and reduce litigations. The minister, however, could not give a satisfactory reply when asked by a member that three lakh MTNL connections were surrendered by people every month. He said the Government had set up 1300 centres where complaints could be registered. "Migration is one thing and termination of connection quite another," he added. (UNI) |
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Vietnam buys 15,000 T Indian soymeal — traders SINGAPORE, Dec 18: Vietnam has bought 15,000 tonnes of Indian soymeal for January shipment and buyers are eyeing another cargo for February, traders said on Thursday. The deal was sealed at about 288 a tonne C F, traders added. "Indian exporters are trying to sell as much as they can before new South American supplies start to flow in," said one regional trader. Brazil and Argentina are expected to have record soybean harvests. South American soymeal supplies are expected to start arriving in the market from late March onwards. (AGENCIES) |
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IIP gets quality MGMT certification from DNV DEHRADUN, Dec 18: The Indian Institute of Petroleum (IIP) has been re-certified by the New Delhi-based Det Norske Veritas (DNV) to new quality management system iso 9001:2000 with effect from December 16, 2003. This makes IIP one of the few CSIR laboratories to have achieved the distinction. The institute was earlier certified by DNV for ISO 9001:1994 version and received the certificate in 1998. The IIP has revised its quality policy and has set new quality objectives. It is committed to excellence in research and development and providing globally competitive technologies and technical services to hydrocarbon and related industries, IIP Director M O Garg said. (UNI) |
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Instanex Skindia DR, P/E premimum indices recovers on gains MUMBAI, Dec 18: The Instanex Skindia Depository Receipts (DR) index recovered by 0.47 per cent to 974.94 points on December 17, from 970.41 points on the previous day. According to the daily update provided by the city-based Instanex Capital Consultants Pvt Ltd, Instanex Skindia DR Index P/E also gained by 0.42 per cent to 18.87 points from 18.79 points. Similarly, the Skindia Index premium, witnessed a major upward spurt reaching 23.70 per cent from 22.67 per cent during the same period. Out of the 15 ADRs and GDRs, ten (seven) gained, five (eight) declined, while none of the scrips (nil) remained unchanged. HDFC bank (ADR), Bajaj auto (GDR) and L T (GDR) were the top gainers, while Infosys tech (SDR), Wipro (ADR) and ITC (GDR) were the major losers, the release added. (UNI) |
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One-day closure of foundries in support of small owners COIMBATORE, Dec 18: Extending support to the striking small foundry owners, the Southern India Engineering Manufacturers Association (SIEMA), along with the Institute of Indian Foundrymen (IIF), Coimbatore chapter, the Indian Chamber of Commerce and Industry, Coimbatore (ICCIC), Codissia and the CII, has decided to close the rest of the foundries in the Coimbatore region on December 22. Even the allied engineering units would be closed on that day as a mark of protest against the exorbitant and frequent hike in the price of pig iron, coke and steel, SIEMA president Rajendran told reporters here last evening. He said that the unprecedented hike in the prices of these raw materials had affected the small foundry units as most of them were unable to increase the end product prices due to the advanced booking of orders. Mr Rajendran demanded that the Centre impose a blanket ban on pig iron and iron ore exports and relax the conditions on import of melting scrap, so as to the prevent the closure of the small foundries. The SIEMA president said a delegation of industrialists was planning to meet the union ministers and the officials concerned in this regard. Due to the one-day closure of the units, the Central and State Governments would collectively lose about Rs eight crore in tax revenue, he added. (UNI) |
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