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| Godrej Appliances Ltd launches new products Excelsior Correspondent JAMMU, Nov 10: Godrej Appliances Ltd today launched a series of state of the art refrigerators and washing machines in Jammu and Kashmir. . ...more Shetty
inspects UCO Excelsior Correspondent JAMMU, Nov 10: Chairman cum Managing Director, UCO Bank, V P Shetty during his visit to Jammu inspected the local branches of the Bank here....more Bayer
group to focus MUMBAI, Nov 10: Bayer chemicals (excluding H C Starck and Wolff Walsrode) will be combined with certain parts of the ......more MERC
admits petition MUMBAI, Nov 10: The Maharashtra Electricity Regulatory Commission (MERC) has admitted .......more |
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Excellence in service, sales and
customers satisfaction Vehicleades wins 6 all India Maruti awards Excelsior Correspondent KAULA LUMPUR (MALAYSIA), Nov 10: Vehicleades-the leading automobile dealers of Maruti Udyog Limited in Northern India, won six all Indian awards for excellence in sales, service, marketing.......more Yash
technologies sets NEW DELHI, Nov 10: Global it consulting firm and one of the fastest growing companies .....more SC admits COAI appeal against TDSAT order NEW DELHI, Nov 10: The Supreme Court today admitted appeals filed by the Cellular Operators....more Novo
Nordisk launches NEW DELHI, Nov 10: Novo Nordisk India (NNI), the market leader in diabetes care and the....more |
Godrej Appliances Ltd launches new products Excelsior Correspondent JAMMU, Nov 10: Godrej Appliances Ltd today launched a series of state of the art refrigerators and washing machines in Jammu and Kashmir. Regional Sales Manager of the Company, Mr J S Das while speaking at the launch of the products at Trikuta Nagar office here said that company has taken right opportunity to launch these products targetting the marriage customers with extremely competitive prices. The news launch includes 170 L New Champion, 180 L Super Star Cold Gold Premium, 215 L Super Star , 215 L CG Premium, 260 L Double Door Direct Cool and a out of the world GF 46 Frost Free refrigerators. The range starts from Rs 6990 onwards. The company has also launched a Fuzzy Logic Fully Automatic WM priced at 10,990 to the consumers. The company in the marriage season, is repositioning competition by launching a 180 lt range at a price of 175 litre. Mr Das said the Godrej refrigerators are using CFC/ HFC/HCFC free compressors and confirm to all global standards and futuristic technology. The new range comes with a deep door arrangement thereby creating more door space. According to Dy Manager Sales, Vijayesh Rana the Company is confident of the success of these models in the market. |
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Shetty inspects UCO Bank branches Excelsior Correspondent JAMMU, Nov 10: Chairman cum Managing Director, UCO Bank, V P Shetty during his visit to Jammu inspected the local branches of the Bank here. He also interacted with the customers of the Bank and participated in the meeting of the Indian Banks Association. Addressing the staff he emphasized upon the need of acquiring knowledge by the staff to attain greater heights. He asked them to work whole heartedly to reach the business target of rupees one lac crore by March by 2007. He appreciated the staff for having worked in team spirit which has helped the Bank in its progress. He also appreciated the customers of the Bank who did not leave us in our worst times and it was their faith which has helped the Bank in coming out of the red and also successful launch of IPO. B B Rattanpaul, Senior Manager assured the visiting dignitary on behalf of J&K staff, that they will not leave any stone unturned to surpass the targets given by the Bank. Earlier the welcome address was read by the Deputy General Manager, of New Delhi Region, B K Dass and vote of thanks was presented by R K Trackroo, Manager. Mr Shetty was bestowed with the honour of state guest by the Jammu and Kashmir Government. |
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Bayer group to focus on core business MUMBAI, Nov 10: Bayer chemicals (excluding H C Starck and Wolff Walsrode) will be combined with certain parts of the group’s polymers business in a new company with the provisional name Newco. Informing this to the Bombay Stock Exchange (BSE), bayer India said this move was in line with the Bayer group’s intention to focus on its core businesses, and to concentrate on health care, nutrition and innovative materials, in future. As per the announcement, the newly-formed company would be listed on the stock markets under a new name latest by early 2005. The supervisory board approved the plans of the group management board at its meeting held on November 7. "Both bayer and Newco would benefit from the split, because a stock market listing would be highly attractive for both shareholders and employees," said Bayer CEO werner wenning. "Following the separation, Bayer, with sales of around 22 billion euros, would be able to focus more closely on the core businesses," he added. Represented by around 350 companies spread across the world, the Bayer group has its presence in health care, crop protection, polymer, chemicals and technology and business services industries. The Bayer group has a strong presence in India, and according to the group’s website, India figures as its fourth largest individual market in Asia. Bayer India is the group’s core company and the other players include bayer industries, Bayer Tpu, Bayer speciality products, Bayer ABS, Bayer pharmaceuticals, Bayer cropscience, Proagro seed company and Bilag industries. (UNI) |
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MERC admits petition of MSEB to restart DPC MUMBAI, Nov 10: The Maharashtra Electricity Regulatory Commission (MERC) has admitted of Maharashtra State Electricity Board’s (MSEB) petition for the restarting of the first phase of Dabhol Power Project (DPP) that would come up for hearing on November 19. In a fourteen page order dated November 5 on the admission of the petition, the MERC said here that MSEB’s petition refers to the power deficit in Maharashtra and seeks to buy power at the rate of Rs 2.80 per unit, at 83 per cent Plant Load Factor (PLF). "It (commission) had decided to proceed with the case for admission, when all the relevant legal issues could be raised", MERC pointed out. MERC said that the Mumbai Gigh Court judgement in one of the cases of Dabhol Power Company (DPC), the term ‘tariff’ was given very wide interpretations. "Thus, fixation of an adhoc rate for offtake and the PLF and other consequential directions would fall within the exclusive jurisdiction of the Commission as a tariff fixation exercise, both under the new as well as under the old statures", MERC stated. In its order quoting MSEB, MERC said that the board has filed the petition on August 13, 2002 and the first hearing was held on September 30, 2002. Further, quoting MSEB arguments for the admission of the petition, MERC said in its order that a large number of matters were subjudice for many years and could not proceed unless there was a restraining order, which has not been granted by the Supreme Court even though DPC applied for it in 2003. "If such an order is eventually obtained, the proceedings would be stayed at that point", MERC said. MERC said that offtake petition was one of the many steps to be taken if the plant was to be revived and power drawn, and it has taken one year since the filing of the petition. Hence, the board urged the Commission to proceed further, MERC said. It may be mentioned here that the first phase of DPC was closed in May 2001, and the second phase is 93 per cent complete. The capacity of first phase is 740 Mw while the second phase is 2144 Mw. In the Rs 13,000 crore power project, the Indian lenders consortium led by IDBI has pumped more than Rs 6200 crore in the project. The DPC project has been in controversy since its closure. There have been several legal cases filed before Mumbai High Court and Supreme Court by concerned parties seeking protection of their interest in the project. Recently, it has been reported that offshore banks incorporated in Austria, France, the Netherlands, Switzerland and United Kingdom have initiated claims against the Indian Government for its ‘failure’ to protect the claimants’ loan to the DPC since its closure. These foreign lenders have argued that the basis of the claim is that the Government has failed to comply with its obligations under the bilateral investment treaties between these countries and India. (UNI) |
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CII upgrades GDP forecast to 7.2 pc MUMBAI, Nov 10: The Confederation of Indian Industry (CII) has predicted a GDP growth of 7.2 per cent for the Indian economy in the current fiscal, an upward revision from its earlier estimate. Making this prediction in its latest quarterly report on the state of the economy upto September 2003, CII has credited the upward revision in growth to excellent monsoons, higher expected foodgrain output and agricultural income, and significantly better performance of the industrial, manufacturing and service sectors, Dr Omkar Goswami, the Chief Economist of CII explained. The CII had forecast GDP growth in the range of 6.5 to 6.8 per cent for 2003-04, in the previous issue of the report (covering March-June 2003). Agriculture and allied activities account for approximately 24 per cent of GDP, Dr Goswami said and added that while CII predicts agricultural sector growth of 7.5 per cent, given decent rains in the winter months, it is quite possible that its could exceed 8 per cent, According to CII, this is not an optimistic prediction given that there was a significant reduction in agricultural output because of the drought in 2002-03, and that the growth would be over a smaller base. . The industrial sector, comprising mining, manufacturing, electricity and construction, accounts for around 26 per cent of GDP and the sector is expected to grow at 6.3 per cent for 2003-04, according to CII. Order books of companies in the manufacturing sector are more full than they have been in the last four years, said Dr Goswami. First half revenues have been higher than before, profitability is up and there is a general sense of optimism - which has been reflected in CII’s latest business outlook survey. The services sector - which now accounts for half of India’s GDP -is expected to grow by 7.5 per cent. For eight of the last ten years, in good years as well as in bad, the services sector has registered growth in excess of 7 per cent, and has often crossed 8 per cent, said Dr Goswami. "Therefore, we at CII see no reason why the services sector should not grow by at least 7.5 per cent in a year as good as 2003-04," he said. The calculation is as follows. Agriculture will contribute 1.8 per cent growth to the overall GDP (7.5 pc agricultural growth multiplied by a weight of 24 pc), industry will contribute 1.6 per cent to GDP (6.3 pc growth multiplied by a weight of 26 pc) and services will contribute 3.75 per cent to GDP (7.5 pc growth multiplied by 50 pc). Thus, the overall GDP growth for 2003-04 is expected to be 7.2 per cent. To sustain this excellent growth in the future, India needs to focus on accelerating the process of economic reforms and to concentrate on building infrastructure, said Dr Goswami. According to him, if this growth impetus continues for the next two quarters, as CII expects it will, India will be seeing the beginning of a much needed investment cycle - as companies start building larger capacities to meet greater demand. (UNI) |
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Excellence in service,
sales and customers satisfaction Excelsior Correspondent KAULA LUMPUR (MALAYSIA), Nov 10: Vehicleades-the leading automobile dealers of Maruti Udyog Limited in Northern India, won six all Indian awards for excellence in sales, service, marketing, accessories and customer satisfaction in all India Maruti Dealers Conference held here. Jamkash Vehicleades Private Limited-the Jammu unit of Vehicleades bagged the most prestigious awards of being declared as all India Best Showroom Award (non-metro) and all India Best Workshop Award (non-metro) which is indeed a great honour for any upcountry dealership. Besides this, Jamkash was also awarded for Excellence Award for its performance in MGA. Pathankot Vehicleades Pvt Limited-the Pathankot unit of Vehicleades bagged the coveted all India Highest Sales Award (non-metro cities) and the most consistent performance in customer satisfaction index award, apart from the runner up award in the rural marketing efforts. The awards were presented to Devender Singh Rana by Jagdish Khattar, Managing Director of the company and K Saito, director marketing and sales of the company at an impressive function held at Hotel Nikko. The function was attended by the senior management of the company besides all the Maruti dealers of the country. It is pertinent to add that Vehicleades over a period of last seven years as dealers have won nearly 52 awards for excellence in different categories from Maruti Udyog Limited and have been consistently performing well and its managing director Devender Singh Rana was also awarded the one time coveted Young Entrepreneur of the year award last year. Vehicleades also bagged the highest number of awards in the region this year and Vehicleades Jammu was the only dealer from J&K to bag any award at the conference. The conference was also shown a film "Masters of Service", which featured Mr Rana, who spoke about his styles of management and as to how an automobile dealership can be developed and run. Mr Rana said that he was happy to receive the awards, he also feels more committed to the customers who, he said, are most responsible for the growth of Vehicleades. While he thanked the customers for their patronage, he also appreciated the efforts of the staff of Vehicleades but for whom it was not possible, a statement issued from Jammu stated. |
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SC admits COAI appeal against TDSAT order NEW DELHI, Nov 10: The Supreme Court today admitted appeals filed by the Cellular Operators Association of India (COAI) and two others against the Telecom Dispute Settlement Appellate Tribunal (TDSAT) order allowing basic operators to offer WLL(M) services. The appeals were admitted by a bench of Justices S Rajendra Babu and G P Mathur. Former Finance Minister P Chidambaram along with former Law Minister Ram Jethmelani is representing the COAI in the Apex Court. Mr Justice R U S Prasad and Mr Justice P R Dasgupta of TDSAT had said in their August 8 majority judgement that allowing WLL service with limited mobility would be in the best interest of the telecom sector and consumers at large in the country. However, TDSAT chairman D P Wadhwa had, in his minority verdict, expressed himself against the decision of the Government granting limited mobility in Wireless Local Loop and allowing handsets to the subscribers of fixed line operators. The COAI had appealed to the Apex Court last month pleading that the minority judgement of the TDSAT be upheld as it was the correct interpretation of NTP-99. Justice Wadhwa’s view was "the first definitive pronouncement in relation to the rights of the licencee and the obligation of a licensor and as to whether Government as a licensor can unilaterally and arbitrarily alter the basic and fundamental terms of the licence agreement," one of the petitions by COAI said. While the majority judgement had upheld the legality of WLL (M) services, it had also asked the authorities to confine these services within Short Distance Charging Area (SDCA). The Government has already taken steps to enforce the directive. The Department of Telecom (DoT) had sent a notice to Reliance Infocomm to take corrective measures within 30 days to limit its services within SDCA. If the steps are not taken within a month, the company would be given additional 60 days after which its license would be terminated. Reliance Infocomm is basically asked to refrain from offering multi-registration facilities for its subscribers, providing over-the-air authentication through #444 facilities and allowing handset outside SDCA. While all this time COAI had asked the department of telecom to enforce the majority judgement of TDSAT to confine WLL (M) services within SDCA, it had clarified that its demand is not "prejudicial" to its right to challenge the judgement. And that is precisely what it has done. Speculations were rife that COAI would withdraw its petitions in response to the association of basic telecom operators’ decision to take back its appeal in the Supreme Court against imposition of additional entry fee on WLL (M) operators. However, a recent meeting of the COAI newly elected executive council did not even discuss the issue. "The appeals will be taken to its logical conclusion," COAI Director General T V Ramchandran had told UNI here. (UNI) |
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Novo Nordisk launches insulin analogues for diabetics NEW DELHI, Nov 10: Novo Nordisk India (NNI), the market leader in diabetes care and the insulin major, today launched two insulin analogues — novomix 30 and novorapid. Priced at Rs 525 with 300 units, novomix 30 is premixed analogue while novorapid is rapid acting analogue and both are available in the insulin delivery device — flexpen. "These insulin analogues offer greater flexibility, higher efficacy and enhanced safety in the insulin regime," NNI managing director Sanjeev Shishoo claimed at the launch here. On the revenue projection and growth of the new products, he said, "we have not fixed any sales target. But we expect substantial growth in the next three to four years after the products are established." When asked that any plan to enter other segments, Mr Shishoo clarified that the Rs 170-crore NNI — the fully-owned subsidiary of Denmark-based Novo Nordisk A/S — is committed to providing the best and most advanced therapy to people with diabetes in the country. NNI has 22 per cent market share in diabetes care while 70 per cent in insulin segment. Besides diabetes care, Novo Nordisk also has a leading position in areas such as haemostasis management, harmone growth and replacement therapy. Insulin analogues are one of the major advances in insulin therapy in recent times. They are genetically-engineered products in which human insulin molecules are modified so as to enable safer and simpler insulin regimens. (UNI) |
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Govt mulls allowing alliance air lease new aircraft NEW DELHI, Nov 10: The Government is considering a proposal to allow alliance air, a subsidiary of Indian Airlines, to lease new aircraft to replace its ageing fleet, Minister of State for Civil Aviation Rajiv Pratap Rudy said today. "A proposal for alliance air to replace its ageing fleet through the leasing route is under consideration of the Government," he told reporters on the sidelines of an `open house’ session with all concerned agencies at the Indira Gandhi International Airport here. Indian Airlines and Air India are already proceeding with plans to expand and replace their fleets. To questions regarding modernisation of Delhi and Mumbai airports, he said "we are going as per the planned schedule and will select the financial consultant on november 14" when the next meeting of the empowered committee of the group of ministers on airport privatisation would be held. The Government was also considering giving Productivity-Linked Incentive (PLI) to the employees of Indian Airlines, but the airline board would take a final decision, Rudy said. He, however, refused to elaborate on the scheme, saying "the employees will have to work more to earn more." IA staffers have been demanding PLI for all sections of employees. The ‘open house’ session witnessed slogan-shouting by Airports Authority of India employees, who were protesting against privatisation of the two metro airports and demanding that the Airports Authority Employees Union (AAEU) be taken into confidence on the entire issue. Rudy spoke to the agitating AAI staffers in an attempt to allay their apprehensions about privatisation and later met the AAEU leaders. (PTI) |
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Exempt EPF/ESI act from EPZ too: ASSOCHAM NEW DELHI, Nov 10: Even as it welcomed the policy decision of the Government to exempt Special Economic Zones (SEZ) from EPF and ESI Act, the Associated Chambers of Commerce and Industry has said the facility should be made applicable to Export Processing Zones (EPZ) as well. "The objective of locating the units either in SEZ or EPZ is by and large the same, to improve competitive edge of the units operating in the international markets and improve exports. "Moreover, the inspection by the labour inspectors in the units located at SEZ/EPZ not only cause harassment to the management of the units located but also disturb the operation and the delivery time schedule for exports which are adversely affected," the chamber said. It urged that inspection by Labour Inspectors be stopped and self-certification of compliance by the management of the units be accepted by the labour department. "China and some other countries have already exempted such units from majority of labour laws in the EPZ/SEZ long time back, to make export-oriented units efficient and competitive in the world market. "The Government of India should also adopt a similar approach without waiting any further since it would help the domestic industry in a big way by increasing production at competitive rates apart from providing greater employment opportunities directly as well as indirectly and also help compete with competitors in international markets," ASSOCHAM said. (UNI) |
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WTO chief asks China for help restarting trade talks BEIJING, Nov 10: The Director-General of the World Trade Organization says the collapse of the group’s recent meeting in Mexico doesn’t mean that multinational negotiations are doomed, and asked China to use its influence to help smooth the way toward new talks. Supachai Panitchpakdi said today that the failure of the ministerial meeting in Cancun, Mexico, in September to establish a road map for the next stage of the "Doha Development Agenda" of world trade was a kick in the pants for WTO members. "Cancun has served as a wake-up call," Supachai told a conference marking the second anniversary of China’s accession to the WTO. "There is a willingness to work harder and reach deeper to find the flexibility to push ahead with the negotiations." He urged China to use its position as both a major trading nation and a developing economy to help bridge the differences between WTO members and put the Doha round back on track by a Dec 15 deadline. "It is very much in the interests of China that the round succeeds - just as it is for the system overall," he said. "At a time when the wto faces an impasse, we need China to use its influence to be a bridge between developed and developing countries." The Cancun meeting was derailed when Brazil and India led a walkout of developing countries to protest the refusal of the United States and the European Union to put agricultural protection on the negotiating table. (AP) Crisil assigns P1 to mid-day’s CP programme MUMBAI, Nov 10: The crisil ratings has assigned ‘P1’ rating to mid-day’s Rs 100 million commercial paper programme. The rating reflects mid-day multimedia limited’s well-establishhed presence in the Mumbai newspaper market through its afteroon daily, which provided a fair degree of stability to its revenue and profits. The rating also reflects the company’s favourable capital structure, which is driven by management’s conservative financial policy. The multimedia’s gearing has remained within 0.25 per cent over the past three years, adquately supported by its initial public offering in 2001, according to crisil release here today. The stability and strength of the company’s news media business is, however, diluted by the weak performance of its other ventures, outdoor advertising and fm radio private limited. In both these business, mid-day multimedia is yet to derive meaningful returns. (UNI) |
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