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| India needs policy on GM crops, says gene campaign NEW DELHI, Nov 22: India should formulate a policy and an independent regulatory authority on Genetically Modified........more 15.2-mn-dollar
contract NEW YORK, Nov 22: A 15.2-million-dollar contract between a subsidiary of India-based Tata consultancy services and an.....more Efforts on
to avert JALANDHAR, Nov 22: The Pepsu Road Transport Corporation (PRTC) has been fighting hard to avert possibility of.....more India
invites higher WASHINGTON, Nov 22: Planning Commission Deputy Chairman K C Pant had wide-ranging talks with US Energy......more |
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Ebay faces opposition in S Korea buyout SEOUL, Nov 22: Minority shareholders of South Korea’s internet auction co threatened on saturday to block Ebay inc’s....more Gulf air
to start KOLKATA, Nov 22: The efforts of Travel Agents Association of India (TAAI) to increase the number of flights flying from.....more Asahi
India to set up its MUMBAI, Nov 22: Asahi India glass limited has unveiled its plants to set up a third plant for manufacture of automotive......more EU to act
against DUBLIN, Nov 22: European union trade chief Pascal Lamy said on Friday the EU is determined to take steps against the...more |
India needs policy on GM crops, says gene campaign NEW DELHI, Nov 22: India should formulate a policy and an independent regulatory authority on Genetically Modified (GM) technology at the central level in the wake of differences among various state over the cultivation of GM crops, says gene campaign, an NGO working on ‘sustainable agriculture’. While the country is yet to formulate any policy framework, the GM crops, propagated by the cash-rich multinationals, are surreptitiously reaching the farming fields in the country, it said. "It is always easy to take a pro or anti position in this scenario. But as the future of 600 million farmers and countrymen as such is going to be impacted by the GM technology whether it allowed or totally disallowed, the mist surrounding it has be cleared," it said. Keeping this in view, the gene campaign will organise a two-day national level symposium on the issue here on November 26-27 with a penal of eminent agriculture scientists and environmentalists including Dr M S Swaminanthan Dr V K Chopra Dr Daniel Gustafson, head of FEO Dr S Shantharam, former regulator of USDA Dr Wesley Jamison from USA Ms Clare Deveraux, member of public debate steering board, UK and Dr Liz Fajber from Canada. Representatives of Sethkari Sanghatana, Indian Seed Industry Association and Dr Prabha Mahale, world board member of international federation of organic agriculture movement will also be attending the symposium, said Dr Suman Sahai, president of gene campaign. Besides them, senior officers of agriculture, environment and department of biotechnology will also attend the symposium. (UNI) |
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15.2-mn-dollar contract between
TCS US NEW YORK, Nov 22: A 15.2-million-dollar contract between a subsidiary of India-based Tata consultancy services and an American state agency has been cancelled, falling victim to politics in view of elections in the US next year. Indiana State’s Governor Joe Kernan, a democratic candidate for elections due in November next year, has ordered the state department of workforce to cancle its contract with Tata America International Corp, a subsidiary of Tata Consultancy Services (TCS), to upgrade state computers processing unemployment claims. Kernan said yesterday that the agency’s request for competitive proposals had been put together and advertised in a way that "virtually knocked Indiana companies out of the running," `Indianapolis Star’ reported. A spokeswoman for TCS was quoted as saying that "this is a decision for the state of Indiana to make, and TCS will comply. No Indiana firms had submitted bids for the contract, the star said. "That is not the way I choose to do business," it quoted Kernan as saying. Top aides to then-Governor Frank O’Bannon had signed off on the politically sensitive, four-year contract before his death on Sept 13 state officials got a number of letters and phone calls complaining about the contract after the star wrote about it on Sept 29. State officials say the computer overhaul, once completed, should speed the processing of unemployment claims, as well as save postage and reduce hassles for businesses that pay unemployment taxes. Tata America International Corp. Won the department of workforce development contract over two US-based companies — accenture LLP and deloitte consulting LP. Tata’s proposal came in 8.1 million dollar lower than the next-most-competitive bid. State officials said, at the time, that it was best suited to their needs, the Star reported. During the project, as many as 65 contract employees were to work in the Indiana Government centre alongside 18 state workers. Tata had said it would hire local subcontractors and do some local recruiting, but most workers were to come from India, the paper reported. Unemployment officials, the Star said, had acknowledged that hiring a firm that competes with US companies might appear to run counter to their legal responsibility to put Indiana workers first. But they argued that the contract would save taxpayers millions of dollars — and insisted the savings wouldn’t come at the expense of jobs in Indiana. Lt Gov Kathy Davis, who leads the state’s economic development efforts, told the paper that State Government needs to do a better job of giving Indiana companies lead on major projects. (PTI) |
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Efforts on to avert disinvestment of PRTC JALANDHAR, Nov 22: The Pepsu Road Transport Corporation (PRTC) has been fighting hard to avert possibility of disinvestment, corporation chairman Ved Prakash Gupta said here today. Addressing a press conference, Mr Gupta said that the PRTC was there in the list of disinvestment but he was of the firm opinion that his corporation was not a fit case for the disinvestment and he and his officials had been in discussion with the State Government at different level to exert pressure and avert the move of possible disinvestment. Mr Gupta said the PRTC had been doing well and coming up day by day even as the net deficit which was to the tune of Rs 29 crore two years ago had reduced by 20 crore to finish with the net deficit of around Rs nine crore at the end of the last financial year ended this March. He said this year, too, the PRTC had already earned an additional revenue of Rs four crore and might wipe out the deficit by the next year or so if given time by the Government. Mr Gupta said he had been fighting hard and was getting encouraging response from the Government and hoped that the disinvestment would be averted. In its bid to streamline the corporation functioning, several administrative measures had been taken o improve the efficiency and plugging of leakage of resources. Besides this, privatisation of certain affairs and operations including ticket advance booking, adda (busstand) fees collection had been encouraged with positive results. On future plans, the corporation had decided to add 100 new buses to its 912-strong bus fleet by next few months and construct modern bus stands in Faridkot, Phagwara and Patiala to provide better facilities to passengers. The corporation also urged the Government to convert the state capital contribution and State Government loans to the PRTC into equity share capital and set up a state transport regulatory authority on the pattern of the State Electricity Regulatory Authority to regulate and revise bus fares for private as well as Government transport undertakings in the state. (UNI) |
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India invites higher US investment in energy sector WASHINGTON, Nov 22: Planning Commission Deputy Chairman K C Pant had wide-ranging talks with US Energy Secretary Spencer Abraham on various energy-related issues, including greater US investment in the Indian energy sector, during his four-day visit here. Mr Pant, who led the Indian delegation to the 15-nation international partnership on hydrogen economy’s ministerial meeting, told newspersons yesterday that his discussions with Mr Abraham included increasing US investments in the Indian energy sector and the need for invigorating efforts to collaborate in power generation. The two sides also discussed nuclear power issues, coal bed methane and carbon sequestration. Mr Pant said he had taken up with Mr Abraham Petroleum exploration programs as also the experience of power sector regulators at the federal and local levels in the US. India’s interest in a hydrogen-based economy was driven by its own energy security interests as well as issues of clean air, Mr Pant said. However, a lot of work remained in that field, he cautioned: "the transformation will not take place overnight." In that context, he said, India’s strength in research and development has been recognised after its success in the information technology field. (UNI) |
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Ebay faces opposition in S Korea buyout SEOUL, Nov 22: Minority shareholders of South Korea’s internet auction co threatened on saturday to block Ebay inc’s tender offer to buy all outstanding shares in the company, demanding a better price. Offshore investors, holding 15 percent of internet auction, and local shareholders said they would try to thwart Ebay’s move to delist internet auction unless the US auction giant raised its tender offer price, Kim Joo-Young, a lawyer representing minority shareholders, told . San Jose, California-based Ebay said this week it would buy any and all of internet auction’s remaining 6.39 million publicly traded shares that it didn’t already own for 70,000 won ( 58.74) per share between November 21 and December 10. It bought a controlling 50.01 percent of internet auction in February 2001. Ebay would probably delist internet auction from the tech-heavy kosdaq market after acquiring all of the outstanding shares, analysts said. "Minority shareholders will not agree to the tender offer because the offering price is too low," Kim said. "Under the securities regulations in Korea, the delisting is impossible if more than ten percent of shareholders oppose to the plan." Shares in internet auction, whose market capitalisation stands at 570 million, peaked in mid-July at 97,800 won and have since fallen about 30 percent to close at 69,200 won on Friday. Kim said minority shareholders demanded E-bay buy their shares at above 90,000 won. Internet auction is the industry leader in South Korea, with 7.37 million subscribers and 1.4 million items up for auction at the end of September. The company posted an 82 percent rise in third-quarter net profit to 4.18 billion won ( 3.54 million) from a year ago on a 68 percent gain in sales to 15.53 billion won. (AGENCIES) |
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Gulf air to start direct operations from Kolkata KOLKATA, Nov 22: The efforts of Travel Agents Association of India (TAAI) to increase the number of flights flying from the region has yielded results with the recent inclusion of direct Gulf air flights between Kolkata and Bahrain, its chairman Sanjoy Sett claimed. Gulf air’s inaugural flight to touch the city on November 25 would signal the commencement of twice the week services of the airliner from the region. The flights, which would operated under a commercial agreement with Indian Airlines, were scheduled to depart Bahrain every Tuesday and Friday and arrive at Kolkata after an one hour transit stop at Muscat, Mr Sett said here today. The flights from Kolkata would leave on cuery Wednesday and saturday, he said. Mr Sett said recently royal Jordanian has introduced two directs flights from the city, Singapore Airlines and British Airways had both increased capacity while Biman Bangladesh has increased his smaller fleet with a bigger one following the changing industrial scenario in Kolkata. "The resurgent bengal has seen a spurt by 25-30 per cent in the total available capacity for both domestic and international flights in recent times," he added. (UNI) |
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Asahi India to set up its third automotive glass plant MUMBAI, Nov 22: Asahi India glass limited has unveiled its plants to set up a third plant for manufacture of automotive safety glass at Chennai in Tamil Nadu expected to cost Rs 50-crore. The funding of the new plant, which will initially have a capacity of over 5,00,000 laminated windshields, will be met through internal accruals. This plant will cater to existing customers in southern region. These include Hyundai motors, Toyota Kirloskar, Ford India, Hindustan Motors (Lancer project), Volvo India etc, said the company. Commenting on the occasion Sanjay Labroo, managing director CEO of Asahi India said, "we have a commanding share of the automotive glass market and as leaders we have to invest to explore opportunities that will present themselves in the future. As such, this new plant is a significant step for us." Currently, Asahi India — a joint venture between Labroo family, Asahi Glass Co of Japan and Maruti Udyog — has two existing plants at Rewari in Haryana and Taloja in Maharashtra. The combined capacity to manufacture laminated windshields after this plant is commissioned by October 2004 will be over 1.70-million. In addition, the company has an existing capacity at its Rewari facility for 1.20-million car sets of tempered glass, while the float glass plant in Taloja has a capacity of 29.20-million square metres on 2MM thickness basis. (UNI |
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EU to act against US over trade if necessary-Lamy DUBLIN, Nov 22: European union trade chief Pascal Lamy said on Friday the EU is determined to take steps against the United States if it fails to comply with WTO rules, but retaliation would be a last resort. Despite the threat of EU sanctions against the United States, he said there was not "overall sickness" in the world trade system and was optimistic that world trade talks which collapsed in Cancun, Mexico, in September would be revived. Mr Lamy said the EU did not relish the prospect of imposing penalties in two rows over US tax breaks for exporters and steel import tariffs. But he said it remained determined to do so if Washington did not comply with World Trade Organisation rules before deadlines due next month. "Retaliation is the last resort that the system provides, the final tool that can be used to incentivise compliance. Retaliation clearly hurts...But we are ready to retaliate if necessary," Lamy, the EU’s Trade Commissioner, told the Irish Institute of European Affairs in Dublin. The European Commission approved a plan earlier this month to launch sanctions on up to 4.0 billion of US goods gradually from March 2004 unless the United States repeals disputed tax breaks for US exporters by the end of the year. The Commission is also eyeing sanctions on a further 2.2 billion of goods in December in a fight over steel import tariffs imposed by President George W Bush. Both sides are mindful of the billion-dollar-a-day EU-US trade relationship. "There is no reason why should not see closure of both these disputes — all that is required is for the US to comply with the WTOs rulings," Lamy said. He expressed hope that the World Trade talks which collapsed in Cancun could soon be revived. "In conclusion, two months on from Cancun, it is evident that the Doha round is not dead," he said. "It can be resuscitated from its current slumber on December 15, in Geneva." Talks at the WTO on lowering global barriers to trade have been in limbo since the failed meeting of trade ministers in Cancun. The EU is expected to decide next week about proposals for a relaunch of the talks based on what Mr Lamy described as "a refreshed and updated position". Mr Lamy was in Dublin for talks with the Irish Government before Ireland’s six-month Presidency of the EU starts in January. (AGENCIES) |
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Kenya urges donors to resume aid after IMF decision NAIROBI, Nov 22: Kenyan President Mwai Kibaki on Saturday appealed to other donors to resume financial aid to the east African country after the International Monetary Fund (IMF) ended a three-year freeze by approving a 252.75 million loan. "President Kibaki appealed to other donors to follow the IMF gesture and resume financial support to the country saying the Government has put in place adequate measures to ensure proper use and management of donor funds," a Presidential press service statement said. Finance Minister David Mwiraria told a news conference that following the IMF decision: "I expect the Kenya shilling to fluctuate within a reasonable range." (AGENCIES) |
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ONGC board approves extension of long term loan facility MUMBAI, Nov 22: The Oil and Natural Gas Corporation Ltd (ONGC) board has approved extending the long-term loan facility of upto Rs 2600 crores for refinancing the long-term rupee loans of Mangalore refineries and Petrochemicals Ltd (MRPL). The loan has been sanctioned at an interest rate not less than the bank rate (presently 6 per cent). MRPL is a subsidiary of ONGC with about 72 per cent equity holding at present. Informing this to Bombay Stock Exchange, the company officials said that loan facility would be secured identical to the terms of security for the loans to be refinanced. (UNI) |
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NABARD officers body sets up sub-panel on restructuring MUMBAI, Nov 22: The officers association of NABARD (national bank for agriculture and rural development) has set up a sub-committee to review the present operating and financial structure of the bank and suggest various measures that need to be brought in for the NABARD to play a major role in the emerging rural economy of India. The sub-committee will submit its suggestions within a month’s time. Revealing nine-point proposals for revitalising the NABARD workforce, National Bank Officers Association president K T Oommen said that NABARD must have its own people as managing director of the bank and no outsider would be allowed. Yesterday, Ms Ranjana Kumar of the Chennai-based Indian bank was appointed as Chairperson of NABARD. "We decided to request the Government to appoint the senior most executive director of NABARD as the managing director of NABARD", Mr Oommen said. At present, the senior most executive director of NABARD is Dr K G Karmakar. Though the bank has been playing a major role in microfinancing in rural economy through short term funding, he said that the Ggeneral Line of Credit(GLC) for such financing given by the Reserve Bank of India(RBI) had stagnated at Rs 6,500 crore at the annual interest rate of 6 per cent. There was no enhancement of the GLC for the past two years while the bank business in short term financing grew significantly. There was also a need to reduce the GLC interest rate to that of half of the prevailing bank rate, he said. (UNI) Steady trend in copper, brass
nickel on MUMBAI, Nov 22: After yesterday’s weak trend in prices of copper, brass and nickel in ferrous and the non-ferrous metals segment today their prices recovered as the supply met the demand, traders at Bombay Metal Exchange (BSE) here said. Following were the rates (in rupees per quintal): ferrous metals: copper heavy 12,400, copper utensils 10,800, brass scrap utensils 8,650, brass cuttings 9,050, aluminium utensils 7,300. Non-ferrous metals: copper wire bars 13,950, aluminium ingots 9,350, zinc slab 7,300 lead ingots 4,300, tin slab 340 (per kg), nickel cathode 730 (per kg). (UNI |
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