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| Procurement agencies lift entire bajra in Haryana CHANDIGARH, Oct 3: The entire arrival of 13,919 metric tonnes of bajra in Haryana has been procured by various......more Crisil
awards DA one MUMBAI, Oct 3: Crisil has awarded ‘Da One’ (DA1) developer rating to prestige estates projects (P) Ltd, Bangalore.......more Jet
Airways to service KUALA LUMPUR, Oct 3: Malaysian Airline Systems, the country’s national airlines has signed an agreement with Jet.....more LIC
observing MUMBAI, Oct 3: Life Insurance Corporation of India is observing October as ‘social security month’ to reinforce the organisation’s commitment to the economically weaker sections.......more |
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Ambuja group logs 6 pc growth in cement production MUMBAI, Oct 3: Ambuja group has registered a six per cent growth in cement production in the month of September 2003.....more Oman keen
on MUSCAT, Oct 3: Enthused by the successful implementation of Oman-India fertiliser project, Oman is keen on stepping up......more ONGC to
invest 15 Mn NEW DELHI, Oct 3: State-run Oil and Natural Gas Corp (ONGC) will invest around 15 million dollars in developing....more WTO
retards growth PATNA, Oct 3: Union Minister for Small Scale Industries C P Thakur today demanded downward revision in lending rates of banks to small and tiny industries, reducing it to the level of housing.......more |
Procurement agencies lift entire bajra in Haryana CHANDIGARH, Oct 3: The entire arrival of 13,919 metric tonnes of bajra in Haryana has been procured by various procuring agencies, millers as well as dealers till yesterday, official sources said here today. Out of the total arrival of bajra, only 3658 metric tonnes of bajra had been procured by millers and dealers whereas the entire remaining quantity of bajra had been procured by various Government agencies, the official spokesman said. Hafed had procured 7682 metric tonnes of bajra, followed by confed which procured 2294 metric tonnes. The remaining quantity of bajra was procured by Haryana warehousing corporation, food and supplies department and haryana agro-industries corporation. He said that 7335 metric tonnes of bajra had arrived in the Mandis of Narnaul, followed by 2294 metric tonnes in Jind, 2272 metric tonnes in Rewari and 1832 metric tonnes in Gurgaon. He said that 93,614 metric tonnes of paddy had arrived so far in the Mandis of Haryana as against 90,081 metric tonnes of paddy during the corresponding period last year. He said that 33,043 metric tonnes of paddy had been procured by various agencies till yesterday. The food and supplies department had procured 12,150 metric tonnes of paddy, followed by 102,54 metric tonnes by Hafed, 4492 metric tonnes by Haryana Warehousing Corporation, 3235 metric tonnes by Confed, 2531 metric tonnes by Haryana Agro-Industries Corporation and 381 metric tonnes by Food Corporation of India. He said that out of the total arrival in the Mandis, 77,207 metric tonnes was leviable paddy. He said that the millers and dealers had procured 44,164 metric tonnes of leviable paddy and 16,407 metric tonnes of non-leviable paddy. He said that Mandis of Kurukshetra district had the highest arrival of 35,700 metric tonnes of paddy, followed by Karnal with 17,861 metric tonnes and Kaithal with 15,965 metric tonnes ranked third. As much as 11,410 metric tonnes of paddy had arrived in the Mandis of Fatehabad district. (PTI) |
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Crisil awards DA one rating to prestige estates projects MUMBAI, Oct 3: Crisil has awarded ‘Da One’ (DA1) developer rating to prestige estates projects (P) Ltd, Bangalore. The rating signifies that the developer has an excellent track record in executing projects as per specified quantity levels and transferring clear title within the specified time schedule, an official release issued here said. Prestige estates project execution capabilities are primarily driven by its streamlined operating systems coupled with superior planning strengths. It uses an enterprises resource planning system, Real Estate Information Portal (REIP), and also has ISO 9001 certification, which underscore its superior operating processes. Prestige focuses on selling its projects to the customers at an early stage of construction, when the funds committed to the project are low and thereby mitigates the demand risk. According to the release, prestige estates’ strong brand image is evident in its status as a preferred commercial space provider to multinationals like Oracle, Cisco and IBM in Bangalore. The company has established a track record of delivering properties with clear title and as per prespecified quality levels, which complements its market position, it added. (UNI) |
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Jet Airways to service MAS aircraft KUALA LUMPUR, Oct 3: Malaysian Airline Systems, the country’s national airlines has signed an agreement with Jet Airways, India’s leading domestic airline for heavy maintenance "C" check on its fleet of Boeing 737 aircraft. The pact was signed at an International Maritime and Aerospace Exhibition (LIMA 2003) in Langkawi, an island on the northwest coast of Malaysia. The Jet Airways contract is part of the three service agreements and a Memorandum of Understanding (MoU) MAS signed yesterday with four airlines, according to media reports. While the value of the individual contract is not stated the four deals are worth RM 8.2 million (around US$ 2.1million). On behalf of Malaysian Airlines, mas General Manager (engineering and maintenance) Mohd Roslan Ismail, signed the deal while Jet Airways was represented by the Deputy General Manager (maintenance) Daniel Saldana. The other pacts include an agreement with KLM Royal Dutch Airlines to provide MAS’ engineers technical training for Boeing 777 at MAS’ engineering maintenance complex in Malaysia, another with Air China where mas will provide the airline a comprehensive ground-handling services at the Kuala Lumpur International Airport (KLIA). The MoU with Air Atlanta is to provide hangar maintenance checks for the airline’s three Boeing 747 freighter aircraft at the KLIA for three years. The Malaysian carrier has been recently granted permission to operate another nine flights a week to India. MAS currently flies to Delhi (4), Mumbai (4), Chennai (6), Bangalore (2) and Hyderabad (1). It has a code-sharing arrangement with Air-India. Additional frequency will be introduced on routes including Bangalore (one), Hyderabad (two), Mumbai (two) and to the new destination Calcutta where MAS will operate four flights a week as per the present approval. (PTI) |
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LIC observing October as social security month MUMBAI, Oct 3: Life Insurance Corporation of India is observing October as ‘social security month’ to reinforce the organisation’s commitment to the economically weaker sections of the society. A special drive has been launched to create public awareness about various schemes being implemented through nodal agencies and to let people know about the benefits of such schemes to the people and non-conventional groups in the unorganised sector, a LIC release stated here. Various functions, seminars, meetings at work places and in rural areas have been organised in addition to regular activities during the month, the release said. LIC has introduced three schemes for the underprivileged including group insurance scheme for the beneficiaries of Swaranjayanti Gram Swarojgar Yojana. Janashree Bima Yojana offers cover of Rs 20000 with accidental death and disability benefits to persons below or near poverty line at the cost of Rs 100 per annum. This premium is payable by the member or NGOs or voluntary organisation or unions or government. The balance Rs 100 is borne by the LIC’s social security fund. So far 11.58 lakh lives have been covered under the scheme. ‘Shiksha Sahyog Yojana’ offers quarterly scholarship of Rs 300 for upto two children of parents covered under Janashree Bima Yojna for a maximum period of four years to help them complete studies from ninth to 12th standards. (UNI) |
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Ambuja group logs 6 pc growth in cement production MUMBAI, Oct 3: Ambuja group has registered a six per cent growth in cement production in the month of September 2003 when compared to September 2002 while despatch of cement marked five per cent growth in the same period. Gujarat Ambuja Cements Limited witnessed 7.20 lakh tonnes production in September 2003 against 6.77 lakh tonnes in the same month last year registering a six percent growth. Marking a six percent growth in cement despatch Gujarat Ambuja Cements despatched 7.38 lakh tonnes against 6.87 lakh tonnes in the same month last year, an official release issued here today said. The subsidiary and associate company Ambuja Cement Rajasthan Limited clocked 13 per cent growth in production while other subsidiary company Ambjua Cement Eastern Limited registered -3 per cent growth in production in the month of September 2003 against the september 2002. (UNI) |
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Oman keen on investing in oil in India MUSCAT, Oct 3: Enthused by the successful implementation of Oman-India fertiliser project, Oman is keen on stepping up investment in India in oil and gas, petrochemicals and manufacturing. The country, which is interested in participating in the privatisation of oil PSUs in India, has however, not bid for HPCL and BPCL. "We have very long friendly relations with India. We are keen on investing in the country and keep looking at new opportunities. "We are watching the privatisation process and may look into it when something attractive comes by," Oman Minister for Commerce and Industry Maqbool Sultan told PTI here. While Oman oil holds about two per cent stake in the Bina refinery project, it has not bid for HPCL and BPCL and also kept away from the disinvestment of IPCL. The minister said Oman was keen on enhancing economic cooperation with India in the sector. Pointing out that Omani companies had made investments in various sectors like pharmaceuticals, it and manufacturing, he said the country wanted to take it further. "We not only want Indian companies to share their expertise in these areas, especially it, Government is also keen that Omani companies invest in these sectors in the country," he said. Referring to the gas pipeline project which had been put on the backburner due to technical reasons, Sultan said Oman would be happy if it was relooked at by India. Fertilisers and Chemicals Minister S S Dhindsa, had after the foundation laying ceremony of the 968 million dollar Oman-India fertiliser project, the largest Indian investment overseas, on Wednesday said Government may relook at the project. The fertiliser project, owned 50 per cent by Oman oil company and 25 per cent each by fertilizer majors IFFCO and Kribhco, will produce 1,652 million tonnes of granulated urea and 0.248 million tonnes per annum of ammonia. India has entered into a 15-year agreement for buying back the complete urea production at a fixed rate while surplus ammonia will be supplied to IFFCO. As part of their agreement, IFFCO has also begun training Omani nationals for working at the project and the first batch of about 39 workers is being currently trained at their plant. The Omifco plant, being built by a joint venture of Snamprogetti of Italy and technip coflexip of France under a lumpsum Turnkey engineering, procurement and construction contract, is scheduled to be compeleted by 2005. Indian engineering and construction major Larsen & Toubro is also one of the lead suppliers to the project. (PTI) |
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ONGC to invest 15 Mn dollars to
develop NEW DELHI, Oct 3: State-run Oil and Natural Gas Corp (ONGC) will invest around 15 million dollars in developing Chinnewala Tibba oil and gas discovery in Jaisalmer district of Rajasthan. "We have made a significant sweet gas discovery in Chinnewala Tibba in Rajasthan, which we plan to develop in the next one and half years," ONGC chairman and managing director Subir Raha said here. Testing indicates presence of sweet gas with more than 7000 Kcal per cubic meter calorific value, against usual range of 1250 to 3100 Kcal per cubic meter in other gas finds in Rajasthan. Subsequently, good quality heavy oil has been found in the same block. Raha said ONGC intends to continue investing in oil and gas exploration in the state. The company has demobilised a drill rig from the state to refurbish it, and will deploy two rigs soon for drilling four additional wells in the block. "We have no intention of withdrawing from the state and are committed to bringing gas to production," he said. ONGC director (exploration) Y B Sinha said 3D seismic survey and exploratory drilling have been accelerated in the state. "3D seismic surveys are being carried out on 100 Sq Km area in Chinnewala Tibba this fiscal, based on which one more rig (besides the one sent for refurbishment) will be deployed for drilling." (PTI) |
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WTO retards growth of SSI: Thakur PATNA, Oct 3: Union Minister for Small Scale Industries C P Thakur today demanded downward revision in lending rates of banks to small and tiny industries, reducing it to the level of housing loans and camparable to other priority sector lendings, including agriculture and allied sectors. Talking to UNI here, he said besides non availability of adequate credit facilities on proper time, opening up the market to multinationals under World Trade Organization (WTO) agreements and engage Indian industries including Small Scale Industries (SSI) sector in uneven competition was responsible for tardy growth of the sector during the past four years. SSI units were struggling for survival following deresrvation of 265 items, while to make the cup of misery full the credit inflow from banks to small and tiny sector had declined from 17 per cent to 11 per cent over the past four years, he noted. The minister expressed concern over closure and sickness of nearly one third of the 34 lakh registered SSI units in the country rendering thousands of people jobless and said his ministry was preparing a package to rehabilitate sick SSI units. To identify the specific problems of states.Separate meetings with concerned states would be convenned soon and devices would be adopted to redeem the sick units, he added. Mr Thakur said West Bengal topped the list of sick SSI units, closely followed by Uttar Pradesh and Bihar, and the entire gamut of the problems would be sorted out involving banks and financial institutions also. He also pleaded for introducing subsidy on capital investment and vigorously continuing the incentives in the form of quality improvement measures and technology upgradation. Referring to the problem of marketing SSI products in the wake of growing consumerism, he indicated that a proposal was under process to launch a common logo and brand for identical SSI goods to facilitate avdertising and popularizing the products in the competitive market through a consortium. All major buyers, including ministries of defence and railways, would also be taken into confidence before embarking upon an agressive marketing campaign, he added. The minister argued that SSI sector continued to remain a vibrant sector being the second highest employment provider of the country and contributed 39 per cent of total industrial production and 40 per cent of industrial exports. The sector also supplies large number of components to major industries and had the potential to generate employment for many more people, he said. (UNI) |
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SSI buys Nasdaq stake to acquire
100% NEW DELHI, Oct 3: Chennai-based software development and IT Training Company, SSI Ltd, today said it had acquired 100 per cent share-holding of indigomarkets after buying the 55 per cent stake of its joint venture partner Nasdaq global holdings. "SSI Ltd has acquired 100 per cent shareholding in the Bermuda-based Indigomarkets Ltd. Effective September 30, 2003, Indigomarkets is a wholly-owned subsidiary of SSI Ltd," the company said. Indigomarkets was formed in January 2000 as a 55:45 joint venture between Nasdaq global holdings and SSI Ltd to facilitate Nasdaq’s global expansion by providing support and services around the Tesa family of stock exchange automation products. The JV was formed when Nasdaq was on an expansion spree. SSI’s mandate for the Indigo markets was to do development work around an electronic exchange product by Nasdaq, Desa. For that SSI, which held 45 per cent equity in the joint venture, had invested in a six-acre complex with a built-up area of 35,000 Sq Ft at Vadapalani in Chennai. As the market conditions changed, the amount of business generated through the joint venture did not materialise though SSI got exposure in financial markets globally. The Indian partner now does work for Nasdaq Japan and Nasdaq Europe. The facility that had been set up for the JV has been put up for sale. As SSI restructures its business, it proposes to use the proceeds from the sale of the property for retiring debt. On September 27, SSI board gave approval for the sale of the property at Vadapalani in Chennai through tender and fixed a floor price of Rs 97 crore for it. Currently the property has been leased for three years to Tata Consultancy Services (TCS) and even after the sale the lease agreement will stand. The sale is expected to be completed by the first week of October 2003. "As the Indigo markets project did not take-off as expected, we decided to sell Vadapalani property. For our needs we have a 77,000 Sq Ft facility in Chennai that is enough for our present needs," an SSI spokesman said. As part of its restructuring exercise, SSI Ltd had transferred its education business to Aptech Ltd for Rs 28.5 crore. The deal was effective April 1, 2003 and the proceeds from the sale will be accounted for in the next quarter results. In the first quarter of 2003-04, SSI Ltd reported a reduced net profit of Rs 84.84 lakh on revenues of Rs 13.14 crore as compared to a net profit of Rs 1.17 crore on revenues of Rs 58.39 crore during the corresponding period last year. In fiscal 2002-03, SSI Ltd revenues stood at Rs 324 crore. (UNI) |
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Low consumption of potatoes in India SHIMLA, Oct 3: India despite being the leader in the production of potatoes, had the lowest per capita consumption of this vegetable as compared to other countries particularly the western nations. Speaking at a symposium on ‘National Food and Nutritional Security’ organised by the Central Potato Research Institute,here today, Dr Mangala Rai, Director-General (DG) of the Indian Council of Agricultural Research (ICAR) disclosed the per capita intake of potatoes was as low as 15 Kg.In a year in the country as compared to other parts of the world. He gave the example of Poland where the intake of this vegetable which is rich in starch and carbohydrates was 136 Kg a year. He stressed upon the need to improve the per capita consumption of potatoes by highlighting its nutritional value through the mass media including television. In this context he gave the example how the nutritional value of other products like milk and eggs are highlighted in the media. Dr Rai said that in India about 73 percent of potatoes are consumed as fresh food in the form of vegetables and ten percent as seed. Less than one percent of this vegetable was processed,while the exports were a mere one to two percent per year and about 16 percent goes as waste, he disclosed while stressing upon increasing export and setting-up of potato processing units. Speaking further,Dr Rai said that the potato crop had witnessed a 13.3 percent increase in production and a 2.6 percent increase in productivity during the last five decades. In this context he pointed out that the area under potato cultivation had increased five times in the last couple of decades. He also stressed upon the need for expansion of potato marketing actvities by Government agencies like NAFED and Agricultre Produce Exporting and Development Agency (APEDA). Information and communication technologies should be set up to retrieve and analyze and provide quality information efficiently and quickly for the marketing and other service needs of the growers and cooperatives,he opined. Speaking on the occasion,Dr G Kalloo,Deputy Director of ICAR, said that presently potato cultivation had touched 13 lakh hectares in the country and the production of this crop was currently 20 tonnes per hectare.He said that due to a lot of research potato production in the last forty years had increased from 1.54 million tonnes to 25 million tonnes. Dr Kalloo said that in the country there were 35 different varities of potatoes being sown by the the farmers. He said that the Central Potato Research Institue’s(CPRI) in the country and here had made valuable contributions towards the increase of potato production but now there was a need to strengthen the marketing network. On the occasion the Dr S Ramanujan Award was presented to Dr S M Paul Khurana, Director of CPRI here. The late Dr Ramanujan was the founder director of CPIR. (UNI) |
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Austrian energy drink power horse well-accepted TIRUCHIRAPALLI, Oct 3: The launch of ‘power horse’, an Austrian energy drink, has evoked good response, according to marketeers of the drink. Mr Suresh Menon, sales manager of Chennai-based Maluram Enterprises Private Ltd, which is in-charge of importing and marketing the drink in the country, told newspersons last night that in Chennai alone, it was available in 600 to 700 selected outlets including star hotels and clubs. The drink had already been launched in Kerala, Mumbai and Delhi to name a few, he said, adding that dealers would be appointed country-wide by January 2004. Available in 250 Ml cans as well as bottles, Mr Menon said while the canned product had a shelf-life of two-years, the bottle one year. The energy drink, he claimed, was a value-added drink as its exceptional composition provided extra energy during times of increased physical and mental stress. It was exclusively produced at the power horse Austria plant, a subsidiary of spitz Kg Austria, the third largest company in that country with an annual turnover of three billion dollars. The company had marketing offices in 22 countries across the world spanning europe, the US and the Middle East. Mr Menon said the food and drugs administration in the US recommended a daily intake of three cans of this energy drink as a functional and dietary supplementary drink and not as a thirst quencher. (UNI) Rupee breach 45.50 level on huge dollar inflows MUMBAI, Oct 3: The rupee continued its upswings against the US dollar and rose further by 12 paise to 45.44/45 in early trading today on bunched up dollar inflows after Thursday’s bank holiday and feeble import demand. The rupee which gained a whopping 27 paise and shot up to a 38-month high on Wednesday after the smooth redemption of the resurgent India bonds and the sharp fall of the dollar in overseas, extended its rally today also on huge dollar inflows and no signs of any intervention by state-run banks, a dealer at a public sector bank said. Rupee was trading at 45.44/45 at mid-session, 12 paise stronger than Wednesday’s close of 45.56/57 and the level not seen since August, 4, 2000. The interbank call rate ruled at 4.40-4.50 per cent on comfortable liquidity, while Government bonds stayed in a narrow band in dull trades. (UNI) |
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