|
|
| DPS students visit Pepsi plant at Bari Brahmana Excelsior Correspondent JAMMU, Oct 18: As part of its continued endeavour to spread awareness among the masses and to acquaint them with the superlative quality standards......more Dabur
gets HC nod NEW DELHI, Oct 18: The Rs 1,232-crore Dabur India Ltd (DIL) has received approval from the Delhi High Court for demerger.....more Allahabad
bank posts LUCKNOW, Oct 18: Public sector Allahabad bank today reported a 123 per cent increase. ....more Govt examining various aspects of limiting WLL (M) NEW DELHI, Oct 18: The Government today said it is evaluating pros and cons of restricting WLL mobility .....more |
|
Jewellers, gold smiths hold meeting with Director CAPD Excelsior Correspondent JAMMU, Oct 18: In view of fast approaching festive season and enthusiasm amongst consumers to buy jewellery.......more Gold
opens flat, silver MUMBAI, Oct 18: Prices of gold today opened steady on lack of fresh seasonal demand ......more UK
travel experts SILIGURI, Oct 18: Two UK travel experts are visiting Assam to identify the tourist spots linked with the Victorian era which ....more Talks
on J&K co-op JAMMU, Oct 18: Chairman of the Citizens’ Co-operative ...more |
DPS students visit Pepsi plant at Bari Brahmana Excelsior Correspondent JAMMU, Oct 18: As part of its continued endeavour to spread awareness among the masses and to acquaint them with the superlative quality standards maintained in the production of Pepsi Products, the students of Delhi Public School visited the plant of Jai Beverages (P) Limited, a unit run by Anurag Jaipuria, at Bari Brahmana. It is worth while to mention that the Plant has been awarded International Gold Quality Audit Award for the second year in succession. During the visit students were shown the various stages of production process and were thoroughly apprised about the intricacies of the process. The students made some interesting queries and were quick to express their anxiety about the whole process, which was addressed to their satisfaction. To start with, the students participated in a Quiz related to Pepsi Products and Students Awareness. Enthusiasm could be gauged from the fact that as many as 92 percent students answered all questions correctly. Pepsi souvenirs were distributed among the winners—Anjali Pathania, Risha, Pallavi Sharma, Anshul, Mahak Gupta, Pranav and Uttang. |
 |
Dabur gets HC nod for demerger of pharma business NEW DELHI, Oct 18: The Rs 1,232-crore Dabur India Ltd (DIL) has received approval from the Delhi High Court for demerger of the pharmaceutical business of the company. "The company will shortly apply to the High Court for the certified true copy of the order. "After the Court’s nod on the demerger, the company will complete the formalities for listing the new pharma company in stock exchanges," Dabur spokesman told UNI here. The Board of Directors of Dabur India Limited had decided to demerge its pharma division into a separate company in May this year and subsequently filed a petition with the Delhi High Court seeking its approval. As a pre-requisite for the Court’s approval, the shareholders and creditors had to approve the demerger scheme in the Court-convened meetings presided by the chairman appointed by the Court. DIL had obtained these approvals with an overwhelming majority in the meetings held on August 2, 2003, and had filed confirmation petition with the Delhi High Court for approval. The shareholders and creditors of Dabur had approved the scheme of arrangement for the demerger of its pharma business from DIL. Under the demerger scheme, it is proposed that each shareholder of Dabur India will be issued one additional share of Dabur Pharma Ltd (DPL) for every two shares of DIL held. Further, the company also proposed to transfer assets of Rs 214 crore pertaining to the pharma business, out of the total asset base of Rs 521 crore, to DPL as part of the demerger. DPL — the new pharma company formed to acquire the Rs 183.8 crore pharmaceuticals business of DIL as per the proposed scheme of demerger — has already put in place an initial six-member board to provide strategic inputs and direction to the new firm. The six-member board includes Dr Anand Burman, Mr Amit Burman, Mr P D Narang, Mr Ajay K Vij, Dr Rama Mukherjee and Dr P S Srinivasan. The company said it will strengthen the board with the induction of independent directors, having specialisation in various fields, within the next three months. "The DPL board will be expanded in near future to include independent directors who will be carefully chosen from different areas of specialisation following global best practices on corporate governance," said DIL vice chairmn Anand Burman. Noting that the demerger would significantly strengthen the company’s business, Dabur chairman V C Burman said,’’ for one, we will become a totally focussed fmcg company which, by itself, ought to generate higher growth of income and profits. "It will be also beneficial for the pharma business which, while having access to the Dabur brand name, will have the freedom to pursue its own growth and research and development activities." Dr Burman said the demerger will also provide the necessary flexibility to the investors in making their investments. With the demerger, the FMCG and pharma businesses will have a clear line of sight, follow their own growth charters and benchmark their performance with the respective industry standards, said Dabur group director P D Narang. "It is a win-win situation for all stakeholders of Dabur and will create more value for all shareholders," he said adding that the new pharma company will have identical shareholding pattern as in DIL. Dabur has taken a strategic decision to concentrate on the oncology (anti-cancer) business, aiming to create a strong global footprint. DPL, which has obtained marketing approvals for oncology products in many key export markets of Asia, CIS, Central and South America and Africa, will increase its global footprint and set up further marketing networks throughout the world over the next few years. In addition to the US, which constitutes the ultimate destination for all pharma companies, the domestic drugmaker, having a more than 20 per cent market share in India and presence in over 25 countries across the globe, is eyeing the European market. Dabur pharma, which grew by 12.8 per cent from rs 162.9 crore in 2001-02 to Rs 183.8 crore in the last fiscal, expects to record a double-digit growth by the current financial year. It has a strong presence throughout the entire pharmaceutical spectrum, ranging from cutting edge original research to manufacturing of Active Pharmaceutical Ingredients (API) and formulations to sales and distribution. (UNI) |
|
Allahabad bank posts over 100 pc profit LUCKNOW, Oct 18: Public sector Allahabad bank today reported a 123 per cent increase in net profit during the half year ended September 30, 2003. The bank posted a net profit of Rs 143.88 crore in the first half of this fiscal against Rs 64.51 crore in the corresponding period last year. The bank had also achieved growth in the Earning Per Share (EPS) from Rs 5.23 to Rs 8.30 while the cost of deposits reduced to 5.92 per cent from 6.84 per cent. Bank’s General Manager, Lucknow region, Ajmal Saeeduddin said by 2004 all the branches of the bank in nine big cities would be computerised. He said bank deposits stood at Rs 27,390.28 crore at the end of the half year against Rs 24,280.29 crore last year, registering a growth of 12.81 per cent while the bank advances were Rs 14,121.37 crore, an increase of 16 per cent. (UNI) |
|
Govt examining various aspects of limiting WLL (M) NEW DELHI, Oct 18: The Government today said it is evaluating pros and cons of restricting WLL mobility within local call area as directed by the Telecom Dispute Settlement Appellate Tribunal (TDSAT). "We are initiating steps to implement the TDSAT order and as a first step we are examining the merits and demerits of limiting WLL (within short distance calling area)," telecom secretary Vinod Vaish told mediapersons after addressing the it summit, 2003, organised by the Lal Bahadur Shastri Institute of Management here. Various aspects of WLL (M) operations like call forwarding, multiple registration of subscribers and the type of handset used will be examined by the department, he said. Mr Vish, however, refused to divulge further, stating that he would be able to disclose details when all measures are taken to implement the TDSAT order. Communications Minister Arun Shourie had said after the Group of Ministers on telecom meeting on October 12 that all steps would be taken to limit wll within short distance calling area. The Telecom Secretary also denied reports in a section of the media that his department has sent a letter to Reliance Infocomm after the October 12 GoM meeting. Mr Vaish, who is also the Telecom Commission Chairman, said letters were sent to RIM as well as all other basic telephones using WLL (M) much earlier than the GoM meeting. Reliance Infocomm had already sent replies to the letter as well as Tata Indicom. These replies have been sent to Tata Engineering Centre (TEC), a dot body. "We will send letters again (to WLL operators), if required." He refused to coment on whether TEC has given a clean chit to Reliance Infocomm, as reported in a section of the media. Mr Shourie had disclosed after the first GoM last month that TEC in its presentation said Reliance Infocomm is violating spirit of licensing conditions. However, a report in a section of the media afterwards said tec had given a clean chit to the company. Reliance group chairman Mukesh Ambani had also said that Reliance Infocomm is not violating any licensing conditions and the company will convince "anybody" about its stand on the issue. Limiting WLL (M) and the proposed universal licensing regime are the two contentious issues, still unresolved by the GoM. The next GoM meeting on October 30 will discuss both the issues. The first GoM last month had resolved most of the issues pending with it, except the two matters. (UNI) |
|
Jewellers, gold smiths hold meeting with Director CAPD Excelsior Correspondent JAMMU, Oct 18: In view of fast approaching festive season and enthusiasm amongst consumers to buy jewellery, apprehensions are there that innocent customers may incur undesired losses in the process, a meeting of leading jewellers and gold-smiths was held in the office of Director Consumers Affairs and Public Distribution here today. Some issues regarding sale and re-sale of gold and other jewel ornaments were discussed so as to minimize chances of mal-practices to the maximum extent. The representatives of jewellers and gold-smiths agreed to abide by the guide-lines of the Department. The dealers agreed not to sell artificial Nag, glass/semi precious stones with gold. But however, if precious stones are sold as part of ornaments, the dealer will record the same on cash voucher. The dealers also agreed to charge maximum 0 percent in total on sale of gold ornaments only and seal indicating the carat/purity be fixed on each ornament. It was agreed upon that no gold ornament will be sold without cash memo which will indicate the purity of gold. The dealers also agreed that on re-sale or sold ornaments maximum 0 percent will be deducted by them on actual weight and the value of gold will be on prevailing market rate at the time of sale. The Directorate has as such requested the customers to take care of the points aforementioned while going for gold/jewellery shopping and complaints, if any, may be forwarded to the Department. |
|
Gold opens flat, silver gains on improved festival demand MUMBAI, Oct 18: Prices of gold today opened steady on lack of fresh seasonal demand while silver gained on increased festive support by stockists, coupled with firm advice from international markets, traders at the local bullion market said here today. Prices of standard mint gold 99.5 purity and gold 99.9 purity grades remained unchanged at their previous finish levels of Rs 5,600 and Rs 5,640 per ten Gm respectively. Traders said that there was small buying support from local customers and jewellery makers despite fast-approaching Diwali festival. Sellers were keen to offer their stocks due to subdued advice from international markets where it was quoted lower at around USd 372.15/373.65 per troy ounce from its previous day’s finish, traders said. Silver .999 fineness grade, however, was up by Rs 10 at Rs 8,120 per Kg on fresh demand at lower levels from local dealers, traders said. At London and Hong Kong bullion markets, silver quoted positive at USd 4.91/4.92 per troy ounce from its earlier rates, traders added. Following were opening rates at local markets: Silver (per Kg) .999 fineness grade : Rs 8,120, Gold (per 10 Gm) 99.5 purity standard mint: Rs 5,600, Gold (per 10 Gm) 99.9 purity variety : Rs 5,640. (UNI) |
|
UK travel experts visit Assam in search of tourist spots SILIGURI, Oct 18: Two UK travel experts are visiting Assam to identify the tourist spots linked with the Victorian era which will help promotion of these new destinations among the European travellers. Mr Peter Jordon, treasurer of Darjeeling Himalayan Railway Support (DHRS) (UK) and DHRS(UK) Seretary Michrel Bentley accompanied by DHR project Management Team Convener Raj Basu, left here for new Bongaigaon to look for new destinations in the tea estates. They would meet tour programmers from Guwahati, Lumding, Halflong, Tinsukia, Tipopng Colliery and Ledo during their seven-day sojourn to Assam, Mr Basu said yesterday. "We are very keen to see the DHR (Darjeeling Himalayan Railway) connection there as some collieries in Assam used narrow gague line and a steam engines of century old engineering," the Britons said. Some areas in upper Assam, like Lumding, Halflong, Tinsukia and Ledo’s coldieries have two-feet narrow guage line and the boggies chug on steam engines facinating travellers from Europe, said Mr Jordon, who authored and photographed the book ‘India-no problem, Sahib’, a record of the last days of the steam on Indian Railways. The trip, partly sponsored by the Indian tourism and culture ministry, would record all the evidences of spots developed in the British Raj and showcase them in different parts of Europe. They planned to land a group of 75 tourists from Europe next year to visit these areas. The two experts would also visit Kaziranga national park, a world heritage site, and also meet North East Frontier Railway General Mananger at Guwahati before winding up the trip. "India is the most fascinating, contradictory, colourful extraordinary country in the world. Everyone should visit India at least once. They should abandon all pre-conception, go with the flow, have the adventure of a lifetime," they said. Mr Barrie summerised India in five points- friendly people, easy going, a favourable exchange rate, safety in railways than in the European countries and no language problem for English speaking holidayers. (UNI) |
|
Talks on J&K co-op bank closure are rumours: Chairman JAMMU, Oct 18: Chairman of the Citizens’ Co-operative Bank Ltd (CCB) Onkar Seth today denied that the bank was on verge of the closure and claimed the speculations were mere rumours. Addressing the Silver Jubilee function of the bank organised by the bank staff association here last evening, he said there is no fear of bankrupty as CCB has earned a profit of Rs 184.23 lakh during the last fiscal while membership of the bank has also increased. He alleged that some vested interests in the bank as well as management spread rumours about possiblities of the CCB going bankrupt. However, black sheep would be identified soon and thrown out of the organisation, he warned. Mr Anil Mehta, Managing Director of the Bank, said during the disclosed that the last of financial year, the bank had 21,917 members with a share capital of rs 322.12 lakh and reserves of 926.62 lakh. The deposits of the bank are Rs 15,750.03 lakh and advances figure at Rs 9651 lakh at the close of last financial year, he added. (UNI) |
|
Gold ends flat, silver gains on firm global advice MUMBAI, Oct 18: Following were the closing rates of gold and silver at the bullion market here today: Silver (per Kg) .999 fineness grade : Rs 8,130 (8,110), Gold (per 10 Gm) 99.5 purity standard mint: Rs 5,600 (5,600), Gold (per 10 Gm) 99.9 purity variety : Rs 5,640 (5,640). (UNI) |
|
Germany to boycott iraq donors HAMBURG, Oct 18: The German Government will effectively boycott the Iraq donors conference in Madrid this coming week, according to Der Spiegel news magazine. Citing Berlin coalition sources, the German magazine said in a report due to hit newsstands Monday that the decision to stay away from the Madrid conference follows Berlin’s announcement that it would not take an active part in the rebuilding of Iraq. Foreign Minister Joschka Fischer is said to be indifferent about the conference. Foreign Aid Minister Heidemarie Wieczorek-Zeul has said she will not attend, sending only a ministry official in her place, according to the report. (DPA) |
|
Forex reserve crosses USd 90 billion at record high MUMBAI, Oct 18: The forex reserve of the country crossed the US dollar (USd) 90 billion mark and stood at a new record high of USd 90.353 billion during the week ended October 10, gaining a whopping USd 2.615 billion from the previous week. The previous record high of forex reserve at USd 89.327 billion was on September 26, after it fell by USd 1.589 billion to USd 87.738 billion in the following weeks due to the redemption of the Resurgent India Bonds (RIBs) on October 1. The Reserve Bank of India’s (RBI) weekly statistics report showed that the entire growth in forex reserve was contributed by the foreign currency assets, which shot up by USd 2.615 billion to USd 86.430 billion during the week, while the gold reserve and the Special Drawing Rights (SDRs) remained unchanged at USd 3.919 billion and USd four million respectively. The aggressive intervention by the RBI in the forex market to check the rupee’s appreciation and the strong gains in non-US currencies were the main factors that were driving the forex reserve up, dealers said. India’s Reserve Tranche Position (RTP) with the International Monetary Fund (IMF), moved up further by USd six million to USd 1.209 billion during the week. The RTP, which could change from time to time due to India’s transactions under the financial transaction plan with the IMF as well as changes in the SDR exchange rates, however, were not included in the forex reserve. The forex reserve has gained by USd 14.925 billion in the current fiscal year, while it rose by USd 19.908 billion in the calendar year. (UNI) India to sign an FTA with South Africa’s customs union MUMBAI, Oct 18: India will shortly sign a Free Trade Agreement (FTA) with South Africa’s ‘customs union’, a five-nation block, to promote bilateral trade, services and investments. Disclosing this, the visiting South African President Thabo Mbeki told a business meet in Mumbai today that he held certain exploratory discussions with top Indian leaders during his current visit in Delhi and prepared a framework document to start future negotiations in every sector of business potential. "We would like to discuss the documents with our four other members and find out modalities for going ahead with the negotiations," he said. The FTA is going to take place in the next two months, an official accompanied the visiting President told UNI. Besides South Africa, the other four nations of the ‘customs union’ are Botswana, Namibia, Ishuto and Swaziland. Mr Mbeki said that this would start a ‘strategic partnership’ with India to integrate the economic benefits between the two nations and diversify the business relationship from just trading to investment and joint venture partnership in the core manufacturing and services sectors. "We have to build up on the extra-ordinary goodwill that exists between the two nations for mutual benefits," he observed. The President, who was on a three-day visit to India, had been accompanied by a large delegation of his Cabinet Ministers, 60-odd private corporate houses and Government officials. In fact, he said in a lighter vain at the conference that he could have held his cabinet meeting in India itself during the visit. . Mr Mbeki, who visited Delhi and Hyderabad before arriving here, asked the entrepreneurs and business communities of both the nations to identify the potential areas of cooperation and deepen the relationship for the benefits of the common people. Currently, the bilateral trade between the two nations is around US dollars 2.3 billion. South Africa had gone through a decade-long transition and economic restructuring process and is becoming a strong economy with low inflation and import tariff barriers. The averge import tariff is around nine per cent, while the export from South Africa is growing at 10 to 15 per cent annually. South Africa, which is a traditional exporter of mines and minerals like gold, diamond, coal and other raw materials to India, is now seeking technical expertise to set up manufacturing base of finished products of jewellery and gold ornaments in the country. Similarly, it wanted India to shift its focus from traditional export of rice, tea and agricultural produces to Africa, to export expertise in services sector like telecom and entertainment and also setting up agro-processing units in Africa. "We need to diverse the trading pattern with India," said the South African Trade and Industry Minister Allec Irwin. He informed that the delegation members had signed certain MoUs in Delhi and Hyderabad in areas of defence cooperation, pharmaceuticals and health care sectors. "In fact, we are lacking in research and development activities in pharma sector, which needs to be addressed through joint cooperation," he said. Similarly, in his intervention during the question hour, Mr Mbeki said that South Africa needs to share India’s experiences and looks for guidance in improving the primary health care and educational sectors. "This is one of the most critical areas of cooperation between the two nations," he observed. There is also an enormous space of joint venture in this area, he added. (UNI) |
|
|
