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| Maruti may upwardly revise prices in January NEW DELHI, Nov 27: Maruti Udyog Ltd today said that it may review the prices of its cars by December end. .........more Spl
Bangalore-Kollam, THIRUVANANTHAPURAM, Nov 27: To clear the extra rush of passengers during the winter season, special trains will.....more LKB nets
20 pc KOCHI, Nov 27: The Kochi-based private sector Lord Krishna Bank Limted (LKB) has achieved an impressive growth of.....more Bank
officers to launch MUMBAI, Nov 27: Officer unions in the banking industry will shortly launch a nationwide agitation, next month against......more |
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S Korean prosecutors raid Hyundai motor affiliate SEOUL, Nov 27: South Korean prosecutors raided on Thursday a leasing and lending unit of the country’s top auto maker....more Sikkim
chamber of GANGTOK, Nov 27: Majority of businessmen in Sikkim are completely dissatisfied with the functioning of the Sikkim.....more Ten-year
railway NEW DELHI, Nov 27: The ten-year corporate safety plan (2003-2013) of Indian Railways required each zone and......more NETSOL
voted best BANGALORE, Nov 27: City-based Network Solutions Private Limited (NETSOL) has been voted the ‘best IT infrastru...more |
Maruti may upwardly revise prices in January NEW DELHI, Nov 27: Maruti Udyog Ltd today said that it may review the prices of its cars by December end. Maruti Udyog managing director Jagdish Khattar told newspersons here that rising input costs were putting pressure on margins and the company would go in for a relook in prices in early January. "Rising costs of tyres, steel apart form the appreciation of the Japanese yen will be forcing us to review the prices in January," Mr Khattar said while unveiling the new maruti Zen. (UNI) |
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Spl Bangalore-Kollam,
Bangalore-Nagercoil THIRUVANANTHAPURAM, Nov 27: To clear the extra rush of passengers during the winter season, special trains will be run between Bangalore-Kollam-Bangalore and Bangalore-Nagercoil-Bangalore sectors from December 1 to January 30, Southern Railway announced here today. Train no 0621 Bangalore-Kollam Special (daily service from December 1 to January 20, 2004) would leave Bangalore at 2215 Hrs from December 1 and reach Kollam at 1330 Hrs the next day. In the return direction, train no 0622 Kollam-Bangalore Special (daily service from December 2 to January 21, 2004) would leave Kollam JN at 1915 Hrs from December 2 and reach Bangalore at 1030 Hrs the next day. The above trains would halt at Bangalore cantonment, Kuppam, Krishnarajapuram, Bangarapet, Tirupattur, Salem, Erode, Palakkad, Thrissur, Aluva, Ernakulam town, Kottayam, Changanassery, Thiruvalla, Chengannur, Mavelikkara and Kayamkulam. The trains would consist of one AC 3-tier, ten sleeper class, one general second class and two luggage-cum-general second class coaches. Train no 0647 Bangalore-Nagercoil weekly special via Madurai (weekly service from December 5 to January 30, 2004) would leave Bangalore at 1745 Hrs from December 5 and reach Nagercoil at 1030 Hrs on Saturdays. In the return direction, train no 0648 Nagercoil-Bangalore weekly special via Madurai (weekly service from December 6 to January 31, 2004) would leave Nagercoil at 1530 Hrs from December 6 and reach Bangalore at 0900 Hrs on Sundays. The above trains would have stoppages at Bangalore cantonment, Hosur, Dharmapur, Salem, Erode, Karur, Dindigul, Kodaikanal road, Madurai, Virudunagar, Satur, Kovilpatti, Vanchi Maniyachchi and Tirunelveli. The trains would consist of two AC 2-tier, one AC 3-tier, 12 sleeper class, three general second class and two luggage-cum-general second class coaches. (UNI) |
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LKB nets 20 pc growth in business KOCHI, Nov 27: The Kochi-based private sector Lord Krishna Bank Limted (LKB) has achieved an impressive growth of 20 per cent in its overall business during the first half of 2003-04, totalling Rs 2,530 crore and 59 per cent in terms of operating profit as compared to the same period the previous year. LKB Managing Director and CEO R M Nayak at a media conference here yesterday said the bank’s operating profit during the reported period was Rs 19.43 crore as against Rs 12.25 crore recorded during the previous half year. The number of the branches of the six decade-old fast growing bank, spread over 11 states, went up to 101 by September 30, 2003, as against 94 branches till September 30, 2002, with licences for opening 13 more in different parts of the country during the current fiscal already granted by the Reserve Bank of India, he added. The net worth of the bank, which was at Rs 117.65 crore during September 2002, also went up to Rs 131.53 crore as against the benchmark of Rs 100 crore as fixed by the RBI, Mr Nayak said. Apart from LKB’s 29 ATMs, it had also entered into an MoU with the HDFC bank for sharing of its ATMs throughout the country and make ‘anytime anywhere’ banking a functional reality, he said. With 68 to 70 per cent of LKB’s branches located in Kerala, the bank had also proposed to upgrade 10 more branches and relocate some of them to more convenient places during the current fiscal, he added. LKB had tied up with ICICI Prudential and Bajaj Allianz for marketing life and non-Life Insurance products to bring value addition to the bank’s growing customers, Mr Nayak said. (UNI) |
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Bank officers to launch nationwide agitation MUMBAI, Nov 27: Officer unions in the banking industry will shortly launch a nationwide agitation, next month against the Lackadaisical and half-hearted approach of the Indian Banks Association (IBA) in settling the wage disputes at the industry level. In a statement issued by Mr R J Sridharan, general secretary of All India Bank Officers Association(AIBOA), said there is an inordinate delay in resolving the issues such as Income Tax on perks, increment distortion, non-revision of halting allowances and hospitalisation expenses as a part of MoU signed by IBA with four officers’ organisations in the country. IBA also did not resume the negotiations in relation to the officers demands of lowering the load factor from 35 per cent to 20 per cent in the wage bills. Besides, issues related to early wage revision, compensation for extra duty time are still pending. Mr Sridharan said officers’ organisations in consultation with workmen unions would shortly announce the date for calling strike. As a part of preparatory action, the bank officers would stage demonstrations at all centers on December 4 and December 11. (UNI) |
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S Korean prosecutors raid Hyundai motor affiliate SEOUL, Nov 27: South Korean prosecutors raided on Thursday a leasing and lending unit of the country’s top auto maker, Hyundai motor, a spokesman for the affiliate told . "Prosecutors began searching through our offices from 11 o’clock (0200 GMT) this morning, but we are not aware of the reason," the spokesman at unlisted Hyundai capital said by telephone. The move comes amid a series of investigations by prosecutors at other business groups, including Samsung group and LG group, over possible illegal funding to politicians. Prosecutors could not immediately be contacted. A number of investigations are underway over suspected links between the country’s family-run conglomerates and politicians and bureaucrats during last December’s presidential election. Hyundai motor shares fell 1.1 percent to 44,500 won at 0257 GMT, underperforming a 0.4 percent fall in the broader market. (AGENCIES) |
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Sikkim chamber of commerce ‘of no use’ GANGTOK, Nov 27: Majority of businessmen in Sikkim are completely dissatisfied with the functioning of the Sikkim Chamber of Commerce(SCC) and feel that the body existed only for name sake. In a survey conducted in October this year, out of 256 businessmen whose opinions were taken about the functioning of the Chamber of Commerce, more than ninety per cent demanded fresh elections and said the present body was ‘totally defunct and of no use’. Some of them had also alleged that the members of the present body were corrupt and were looking only after their personal benefits. Even, Mr Rakesh Somani, one of the present secretaries, had said the surveyors were doing a good job and pledged his support to their movement. The present body of the Sikkim Chamber of Commerce was elected in September 1996. Mr D D Thirani, president SCC, had allegedly left the state about 6 months after the elections. Since then he has never again taken any interest in either the affairs of the chamber or any other business affairs of the state, Mr Lalit Aggarwal, a young businessman, alleged here yesterday. The present body of the Chamber of Commerce had said in a recent communique to this newspaper that they had had elections in 1999. However, businessmen allege that no meetings had been held since 1996, not even annual general meetings. However, some among the committee say that meetings are held. Going by the Societies Registration Act 1951, at least two elections were due. None of the issues that concern businessmen are taken up and none of their grievances addressed, alleged another entrepreneur Kailash Aggarwal. The Chamber of Commerce has become an organisation that issues press releases and gives orders to put up flags on significant days. Since 1996 we have seen no other function of theirs and we are really dissappointed with this body of the business community, he said. (UNI) |
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Ten-year railway corporate safety plan in place NEW DELHI, Nov 27: The ten-year corporate safety plan (2003-2013) of Indian Railways required each zone and division to identify safety risks to its business and prepare a detailed action programme to ensure that the standards of safety improve. It seeks to improve passenger and road users safety, reduce train accidents, improve asset reliability and provide prompt rescue and relief operations,an official release said here today. The measures involve administrative decisions, policy directives, induction of safety equipment and acquisition of safety materials. The plan aims at reduction of passenger casualties, road users casualties, enhancement of human resource development, revision of rules and efforts to contain asset failures. Meanwhile, the railway has targeted 1340 kilometres of broad gauge lines for completion during the current financial year 2003-2004 under plan head new lines, gauge conversion and doubling. The completion of these broad gauge lines will further augment the rail infrastructure capacity. As on April 1, 2002, Indian Railways had a total of 63,140 route kilometres across the country. (UNI) |
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NETSOL voted best IT infrastructure provider BANGALORE, Nov 27: City-based Network Solutions Private Limited (NETSOL) has been voted the ‘best IT infrastructure and maintenance provider of the year.’ The vote of confidence came in a nation-wide survey by the International Facility Management Association (IFMA) India chapter, conducted across 500 companies, including multinationals, software eous, and banks. IFMA India chapter spokesman Hemkumar, in a release said the companies surveyed were asked to make their choice based on responsiveness, quality of work, timely deliveries, and consistency of performance. "NETSOL won on all counts," he added. NETSOL managing director Sudhir D Sarma said the recognition came in the face of stiff competition from other networking majors. "This is a significant recognition of our expertise and has been made possible through exemplary team work and commitment to delivering high quality service," he noted. (UNI) |
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PHDCCI sets up Indo Mexican biz desk NEW DELHI, Nov 27: PHDCCI has set up an Indo-Mexican bilateral business desk to further trade and economic relations between the two countries. Senior industrialists having interest in business links between the two countries would be members of this committee. Speaking on the occasion, president of the Indo-Mexican bilateral committee of businessmen Luis Wertman said it would lend support in terms of exchange of information and help businessmen on both sides to establish business contacts. PHDCCI president Ravi Wig observed that the current level of trade was negligible considering the potential of the two sides. Indian exports to Mexico accounted for less than 1 per cent of the total Mexican imports. Mexican exports to India had remained negligible over the years. While India exported 262 million dollars worth of goods to Mexico in 2002-03, the reverse flow was worth only 66 million dollars, Mr Wig said adding that a concerted effort was required to overcome major difficulties including geographical distance, lack of direct shipping facilities, expensive credit, language barrier and absence of interest among Indian companies to explore long-term linkages. (UNI) |
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Glenmark begins supply of bulk
drug MUMBAI, Nov 27: Glenmark pharmaceuticals, a leading R D based pharma company with presence in formulations and bulk drugs, has commenced supply of ‘amiodarone’, a new generation bulk drug in cardiac segment to Apotex, Canada. Announcing this here today, Glenmark Pharma said it expects to start the supply of ‘amiodarone’ to the US market also shortly. The total value of the supplies to Canada and US market could amount to over US dollars 4 to 6 million in the next 18 months. It had filed the DMF for this product with USFDA six months back. Meanwhile, Glenmark has filed more DMFS during november with USFDA. The filings are part of the company’s plans of filing 5 to 6 DMFS in the current fiscal. Speaking on the development, Glenn Saldanha, MD CEO of Glenmark Pharmaceuticals said, "the supply of Amiodarone to Apotex is a significant development for the company’s API(Active Pharmaceutical Ingredient) business. Partnering with the largest Canadian generic company is part of our strategic initiative to augment presence in the developed markets". Apotex is the largest pharmaceutical company in Canada. It produces more than 200 generics in Canada and also established a presence through subsidiaries, joint ventures and licensing agreements in the Czech Republic, Mexico, China, Costa Rica, New Zealand, France, Italy and Russia, amongst others. The Apotext group’s annual worldwide sales exceed 600 million Canadian dollars. Glenmark pharma had last year acquired the state-of-the-art API manufacturing facility of Glaxo Smithkline based at Ankleshwar in Gujarat. It has commercialized over 15 APIs and has many more in the pipeline. For the year ended March 2003, Glenmark’s API business accounted for Rs 28.57 crore. It is also the market leader in therapeutic groups like dermatology and respiratory with brands like candid B and Ascoril respectively. (UNI) |
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Indian, Thailand cement markets most attractive in Asia Mumbai, Nov 27: The cement markets in India and Thailand are the most attractive in Asia with the outlook for pricing in both countries seems to be improving supported by stronger consumer demand. Citing companies like Grasim in India and Siam cement in Thailand, a study prepared by a co-operative effort of the analysts in these nations said that despite growing at a Compounded Annual Growth Rate (CAGR) of 5 per cent over the past 10 years, Asian cement consumption appears to have a substantial upside potential. Asia’s size is one of its main draws, but that metric alone may be somewhat deceptive, as it basically reflects the massive Chinese and Indian markets, it observed. With the consumption of about 700 million tonnes per annum and attractive growth rates (especially for high quality cement), China appears to be an attractive market. However, the key disadvantage is the high level of fragmentation style of operation, analysts said. Cement consumption in Asia was negatively impacted by the financial crisis in 1998, though some countries saw a larger drop than others. When internal consumption slowed down, Asian companies demonstrated the flexibility to redirect shipments to export markets to maintain high operating rates, the study added. Foreign companies do not have a good position yet, but they are watching the region carefully. Asian cement prices remain well below those in other regions. Highly fragmented markets, low penetration by foreign players, and relatively volatile economies and currencies are the main culprits for low pricing in Asia. (UNI) Sony’s all-in-one PSX console to go on sale Dec 13 TOKYO, Nov 27: Sony corp said on Thursday it would start selling the "PSX" — an all-in-one entertainment system that includes a Hard Disk Drive (HDD) and DVD recorder plus a playstation 2 console — on December 13 in Japan. The entertainment and electronics company will be getting the much-anticipated PSX on shop shelves before the end of the holiday shopping season. Sony had said it planned to have the PSX in stores before the year-end. The entertainment system is part of Sony’s push during the October-December quarter to roll out some cutting-edge products from its mainstay electronics division. A PSX with a 160-gigabyte HDD will sell for 79,800 yen ( 731) and be able to record up to 204 hours of television, the company said. It will also sell a 250-gigabyte version for 99,800 yen. Playstation 2 and rival microsoft corp’s Xbox console already come with a built-in DVD player, but Sony aims to justify the hefty price by including a top-of-the-line HDD recorder. Prior to the announcement, Sony shares closed 1.61 percent higher at 3,790 yen, compared to a 0.52 percent gain in Tokyo’s electric machinery sub-index. ( 1=109.11 yen) (AGENCIES) |
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