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| Kazembe Enterprises makes students aware about studies abroad Excelsior Correspondent JAMMU, Oct 21: Kazembe Enterprises—one of the leading organisations having its headquarters at UK and Corporate Office in Chandigarh, today organised a free seminar on studies abroad.......more BHEL bags
Rs 1700 cr TIRUCHIRAPALLI, Oct 21: In the face of stiff competition from Chinese companies under.....more Its
business as MADURAI,(TN) Oct 21: In ‘Chotta Japan’, as Sivakasi is called in local parlance, firework.....more MuL
challenges Tatas HAMATSU (JAPAN), Oct : India’s largest car maker Maruti Udyog (MuL) today said.....more |
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Oriflame India launches 6 shades CBO lipstick Excelsior Correspondent NEW DELHI, Oct 21: Oriflame India Private Limited (Oriflame India), the natural Swedish cosmetic company today announced the introduction of crystal clear.......more UPs says
China annual TOKYO, Oct 21: United parcel service INC, the world’s top package carrier, said on Tuesday that its annual sales in the......more Singapore’s
CPG corp SINGAPORE, Oct 21: Singapore-based CPG corp has said it is expanding India operations, having recently....more BSE’s
sensex opens MUMBAI, Oct 21: The sensex of the Bombay Stock Exchange (BSE) resumed high by 17 points today, while NSE’s CNX...more |
Kazembe Enterprises makes
students aware Excelsior Correspondent JAMMU, Oct 21: Kazembe Enterprises—one of the leading organisations having its headquarters at UK and Corporate Office in Chandigarh, today organised a free seminar on studies abroad. Mr Avinash Kaul, Director Kazembe addressed the seminar and explained to the students about the benefits of British education system and growth prospectus thereafter. He told the students and parents that Kazembe is authorised by OISC, Home Office UK to represent students in courts in UK in case they are refused visa by British Embassy. Kazembe is certified by British Council to promote education and training in India. Addressing the seminar, Mr Kaul gave the details about the scholarships offered by colleges and universities and the role of Kazembe in helping students to get these scholarships and disclosed that few of the students of Kazembe are issued visa without interview. "Students can do diploma, graduation and post-graduation courses in UK, Greece, Canada and USA for which Kazembe helps students to get admission, arrange accommodation, guide them for visa and interview", Mr Kaul said. Mr Rakesh Arora, Incharge Kazembe Jammu office said that Kazembe acts as local guardian to students in UK and disclosed that students going to Greece for studies through Kazembe have option of studying two years in Greece and remaining two years in UK. "Anyone who is married and wants to go for higher studies in UK is allowed to take spouse alongwith", he further disclosed and said that Kazembe is conducting such types of seminars every month in Jammu and provide them proper guidance about education system abroad. He also cautioned students to be away from self-styled education consultants. More than 200 students and parents attended the seminar. |
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BHEL bags Rs 1700 cr project amid stiff competition TIRUCHIRAPALLI, Oct 21: In the face of stiff competition from Chinese companies under International Competitive Bidding (ICB), the public sector Bharat Heavy Electricals Limited (BHEL) has won a contract for setting up the 500 Mw Korba (east) Thermal Power Project (TPP) in Chhatisgarh, comprising two units of 250 Mw each, valued at Rs 1700 crore. A BHEL house journal issued here today said the order was placed by the Chhatisgarh State Electricity Board (CSEB) in which the first 250 Mw set was slated for synchronisation in 32 months, followed by the second unit, four months thereafter. BHEL’s scope of work in the contract envisages design, engineering, manufacture, supply, testing, erection and commissioning of main plant and equipment including associated auxilliaries and balance of plant for setting up the 2x250 Mw power project. The journal said till date, all the 13 250 Mw sets in the country had been commissioned by BHEL. These include BSEs’s Dahanu TPS (2x250 Mw) in Maharashtra, HPGCL’s Panipat TPS (2x250 Mw) in Haryana, Apgenco’s Kothagudem TPS (2x250 Mw) in Andhra Pradesh and Rvunl’s Suratgarh TPS (5x250 Mw) in Rajasthan, besides CSEB’s Korba (east). It said outbidding equipment suppliers from China and the Czech Republic in an open global tender, BHEL has won a contract for setting up the 1000 Mw stage-II of NTPC’s Kahalgaon Super Thermal Power Project (STPP) in Bihar, comprising two units of 500 Mw each. The order valued at Rs 1,412 crore, Kahalgaon stpp stage-II, located in Bhagalpur district in Bihar, is being set up by NTPC under the centre’s mega power policy and targetted for completion in the tenth plan period. The first set is slated for commissioning in a very tight schedule of 40 months, followed by the second unit, five months thereafter. BHEL’s scope of work in the contract envisages manufacture, supply, testing, erection and commissioning of steam turbine generators, boilers, associated auxilliaries and electricals for two sets of 500 Mw capacity rating. For NTPC, BHEL is presently executing contracts at Talcher STPs (2000 Mw) in Orissa, Rihand STPs (1000 Mw) in Uttar Pradesh, Ramagundam STPs (500 Mw) in Andhra Pradesh and Vindhyachal STPs (1000 Mw) in Madhya Pradesh and all the projects were progressing as scheduled. The journal said outbidding Indian and multinational equipment suppliers, BHEL has won an order valued at nearly Rs 400 crore for a 154 Mw captive power plant (2x77 Mw), to be installed at Hindustan Zinc Limited (HZL)’s upcoming Chanderia lead zinc smelter plant, Chittorgarh. The order assumes significance as the captive power plant would supply continuous power to the smelter which would be more cost-effective for the customer. While the first unit would be commissioned in 18 months, the project would be completed in a tight schedule of just 21 months. (UNI) |
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Its business as usual in Sivakasi MADURAI,(TN) Oct 21: In ‘Chotta Japan’, as Sivakasi is called in local parlance, firework manufacturers are literally burning the midnight oil to make a fast buck during the Diwali season and business is as usual here with a marginal two to three per cent increase in the demand for crackers this time. The slogan, but not the motto, of the industry seems to be reducing noise and increasing colours, indicating that business could well adapt to the emerging scenario wherein rules have come into effect to curtail noise and air pollution. As such atom bombs and bullet bombs have given way to the more enchanting displays in the skies. Sivakasi, though located in the drought-prone backward Virdhunagar district, accounts for 80 to 90 per cent of fireworks production of the country and the volume of trade runs to Rs 700 crore per annum. According to industry leaders, there was no sharp fall in the demand despite the anti-firecracker and child labour eradication campaigns and the Supreme Court directive on the time limit for bursting crackers. Production of colour displays, which remained at 20 per cent earlier, had shot up to 40 per cent this year, said Mr Rathnagiri, Secretary of the Tamil Nadu fireworks and Amorces Manufacturers Association (TANFAMA), adding that it would well rise up to 60 per cent in the coming years. The industry would abide by the rules and take into account the sentiments of the people, he said and cited the example of the manufacturers replacing the image of Goddess Lakshmi on crackers. That the volume of trade remains stable is corroborated by the wastepaper merchants supplying paper, an important raw material for crackers, to the fireworks manufacturers. It is a lucrative business, running into crores, yet to be recognised widely. According to Mr Thirumaran of Meenakshi Wastepaper Company, the demand from the manufacturers continued to be the same this year. On the sales front, many "seasonal entrepreneurs" crop up during the festival season, though it remains a gamble since rains could dampen their business. Though manufacturers are not permitted to sell more than 25 Kg to those approaching without a licence, enforcing the doctrine remains a problem. With the festival of lights just days ahead, workers in factories were working till late in the evening, said CITU district secretary J Lazar, who, however, admitted that they were also earning more as the wages were fixed according to the pieces made. He said the workers were ready to put in extra hours as the demand would peak only during the festival season and the three months that follow would be off-season. Though the registered fireworks companies claim to have changed their strategy and eliminated child labour for manufacturing crackers, the malpractie continues unabated in "illegal" units that mushroom during the festive season, where children are involved in allied works such as threading and paper works. Child labour thrives in illegal units and those with temporary licence in villages abutting Sivakasi and in some interior areas such as Vilampatti, Vembakottai and Ezhayirampannai. Except the usual campaigns by NGOs involved in the eradication of child labour, there are no other visible signs of any propaganda against child labour in the fireworks and matches industries. Regrettably, some NGOs in Virudhunagar district have earned the notoriety of gobbling up Government and private funds in the guise of child labour eradication, trade unions as well as those in the industry felt. (UNI) |
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MuL challenges Tatas to make
cars HAMATSU (JAPAN), Oct 21: India’s largest car maker Maruti Udyog (MuL) today said it was ready to meet any challenge from India’s indigenous car maker Tata motors which has claimed to be working on an entry-level car that would cost between Rs 1.25-1.5 lakhs, much below the largest selling Maruti 800. "We will meet the challenge," MuL chairman S Nakanishi told visiting journalists when his attention was drawn to the claim of the Tatas that they would come out with the most economical entry-level car. "We have heard about Tatan Tata saying he will produce a car for Rs 1.25-1.5 lakh. But, I still believe that Maruti 800 is the most economical car in the world," Nakanishi said. Emphasising that Maruti 800, which accounts for about 35 per cent sales of the Rs 9,000 crore car joint venture, was still the preferred entry-level car in India, he said "I do not know if somebody can make it (car costing below Maruti 800). Let us see". MuL, a JV started between Suzuki Motor Corp. Of Japan and Government of India way back in 1983, has ruled the Indian car industry on the strength of Maruti 800, which, the company claims to be a "peoples car". The existing entry-level car saw MuL taking about 80 per cent share of the Indian car market in 1998 with total company sales now touching about four lakh units per annum. The tatas, riding high on the success of compact car ‘Indica’, had reportedly claimed last year that they would produce a small car in the price band of Rs 1.25-1.5 lakh, triggering speculation whether MuL could lose its USP of providing ‘people’s car’ in India. Suzuki already produces a model similiar to ‘Maruti-800’, Nakanishi said. Outlining the strategy of MuL, where SMC got over 54 per cent stake in the joint venture after the Government closed its option of participating in preferential shares for a consideration of Rs 1,000 crore, the MuL chairman said his company was banking on reducing costs and enhancing efficiency. Asked what kind of leverage the parent company would have from acquiring a majority stake in Maruti, where the Government further divested over 25 per cent stake in the company through a public offer earlier this year, Nakanishi said "we want to make MuL the most efficient company and competitive internationally". He said, contrary to speculation, it was not planning to phase out Maruti 800 "as people in India liked it and we respect consumer choice". Sales of the entry-level car received a boost after a Rs 15,000-Rs 20,000 price cut in July 2002 and has been witnessing a steady rise since then. During April-September 2003, the ‘Maruti-800’ recorded a 34.8 per cent rise in sales to 82,699 units. Maruti also produces nine other models like ‘Alto’, ‘Zen’ ‘Wagon-R’, ‘Esteem’, ‘Baleno’ and ‘Versa’ at its factory near Delhi. It imports and sells the sports-utility-vehicle ‘grand Vitara Xl7’. (PTI) |
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Oriflame India launches 6 shades CBO lipstick Excelsior Correspondent NEW DELHI, Oct 21: Oriflame India Private Limited (Oriflame India), the natural Swedish cosmetic company today announced the introduction of crystal clear make-up remover, visions pressed powder and 6 new shades of CBO lipstick. Oriflame’s crystal clear make up remover cleanses quickly and easily all traces of make up from face to eyes. The new gentle cleansing lotion contains Glycerin, natural extract of cucumbers and chamomile that soothe, tone and hydrate skin. The crystal clear make up remover that is fragrance free and PH neutral is suitable for sensitive skin as well and is available at a special price of Rs 249 for 100 ml. Oriflame’s 6 new shades in CBO lipstick is luscius browns and blushing pinks would add a dash of colour to your lips. These long lasting lip colours in creamy matt finish contain moisturises to keep lips feeling soft and moisturised. Oriflame India is a leading provider of natural cosmetics in India. Based on its international expertise of direct selling, Oriflame pioneered the concept of direct selling in India with its entry in 1995. Oriflame’s strength lies in its brand portfolio, which comprises over 250 products and an extensive distribution network of over 50,000 active consultants covering the entire country. The company, headed by Thomas Ekberg in India, offers quality products and an excellent income opportunity for its consultants. The parent company, Oriflame International SA, is an international cosmetics company with operation in more than 60 countries. Oriflame is the fastest growing direct selling company in the world and attributes its success to continuously exceeding its customer’s expectations. Oriflame, a name synonymous with high quality natural Swedish products, offers the right balance between high value for money to its customers and an unlimited income and career opportunity to its consultants. |
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UPs says China annual sales could hit 1 billion TOKYO, Oct 21: United parcel service INC, the world’s top package carrier, said on Tuesday that its annual sales in the rapidly growing Chinese market could jump 400 percent to 1 billion as regulatory barriers there come down. "The growth potential is literally unlimited for our kind of business," said Thomas Weidemeyer, Chief Operating Officer at UPs, in an interview . "I think a billion dollars in sales in China is not unrealistic." However, Weidemeyer said the time scale would depend on further liberalisation of the market and a relaxation of the existing aviation agreement between the US and China that regulates the number of passenger and cargo flights between the nations. UPs, which is based in Atlanta and delivers 13 million packages a day to around 200 countries, is up against rivals like fedex corp, who are also angling for a bigger share of the lucrative chinese transport market. UPs expects sales in China — where it has tie-ups with local Logistics Firm Sinotrans Ltd and Air Freighter Yangtze river express airlines — this year to rise by 50 percent to around 300 million from 200 million in 2002. According to a recent report by bear, Stearns and Co, UPs has an 18 percent share of the 1.5 billion Chinese air express market, lagging fedex at around 23 percent. Global courier firms are restricted by Chinese laws requiring them to operate through joint ventures with local partners, and need separate licences to operate in different provinces, but the barriers have been coming down since China’s entry to the world trade organisation in late 2001. UPs said it was also hoping to boost its operations in Japan, where trade with China is booming. The company set up a joint venture in 1990 with Japan’s top parcel delivery firm Yamato Transport Co Ltd. "Our joint venture (UPs Yamato express) is averaging in excess of double-digit growth year on year...I expect we’re going to stay in that range for the next several years to come," said James Owens, vice president for UPs in Japan and Korea. The company does not disclose the size of its revenues from Japan, but analysts estimate the Asian region including Japan and China accounts for a third of UPs’s international package revenues, which came to 4.7 billion in 2002. UPs will announce third quarter earnings later on Tuesday. Wall Street forecasts the company earned between 58 and 63 cents a share, with a median forecast of 60 cents, according to 19 analysts surveyed . In the same quarter last year UPs earned 51 cents per share. UPs shares are up nine percent this year to date at 68.75, and are 37.5 percent above their initial public offering price. The company listed on the New York Stock Exchange in November 1999 in what was the biggest ipo in US history at the time. (AGENCIES) |
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Singapore’s CPG corp expanding India operations SINGAPORE, Oct 21: Singapore-based CPG corp has said it is expanding India operations, having recently secured a deal to plan the first phase of 1.4 billion dollar private township project in Bangalore besides others. CPG, a corporatised unit of the Singapore Public Works Department, is eyeing several town planning, architecture and environmental-engineering consultancy projects in Bangalore, Chennai, Hyderabad and Mumbai. It is also handling the first phase of the royal garden city project in Bangalore, its spokeman said in an interview with ‘The Straits Times’ today. The design work on the project would start in Decmeber. Canada-based royal Indian Raj International Corp is undertaking the sprawling project. CPG entered the Indian market in 2001 and has since bagged four projects — management of the first phase of the 130-Km Mizoram state highway in north-east India, planning the new Raipur capital of Chhattisgarh state, planning for a 700-Km long backwater development project in Kerala, and providing consultancy services for the Taj expressway from New Delhi to Agra. (UNI) |
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BSE’s sensex opens 17 pts
high on fresh MUMBAI, Oct 21: The sensex of the Bombay Stock Exchange (BSE) resumed high by 17 points today, while NSE’s CNX nifty was also up by around five points at the opening session, with leading old economy stock scrips rallying on heavy speculative buying support in view of firm global advice, brokers said. Indices opened on a positive note at 4,868, with the BSE’s 30-share sensex gaining around 17 points from the previous day’s finish, later its rose again by over 20 points during the mid-morning session to 4,872 points. The NSE’s 50-share SP CNX nifty was quoting at 1545, 3.45 points up during the morning session. Brokers said that there was buying in select old economy stocks with tech heavyweight infosys gaining Rs 16 at Rs 4,625. Satyam at Rs 308 and HCL tech at Rs 204 are up Rs 2 each. Second-line techs are trading with small gain. From the cement sector grasim was quoted at Rs 758 with gains of Rs 7, while Gujarat Ambuja was up by Rs 2 at Rs 228. ACC was marginally in positive territory at Rs 210, but, Larsen Toubro shed Rs 4 at Rs 408. Cigarette major ITC has shed Rs 1.50 at Rs 875. Old economy heavyweight RIL at Rs 480 and FMCG giant HLL at Rs 193 are down a rupee each. The sensex is in a trading range and is likely to find support near the 4,830 level, which if broken could mean slip in the market. On the other hand, the index could remain in a trading range if the 4,830 support holds. Trading could be volatile during the day amid stock-specific moves, brokers said. (UNI) |
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Rupee opens firm against US dollar MUMBAI, Oct 21: Rupee opened firm against US dollar today with stronger sentiments due to robust foreign portfolio inflows, a leading forex dealer said. It touched the key 45.30 per unit to the dollar mark early today. The rupee was quoting at 45.2950/3050 to the dollar, against yesterday’s close of 45.36/37. Traders are waiting to see if the Central Bank would prevent an appreciation beyond 45.30 to dollar. The foreign fund flows helped the rupee overcome a weak spell yesterday, caused by fears that fresh inflows into a deposit scheme for overseas Indians would dry up after the Central Bank lowered the ceiling on rates which banks can offer. Call rates trading easy at 4.40-4.50 per cent, sources said. The inter bank call rates opened the day easy in the range of 4.40-4.50 per cent and are expected to trade easy on ample funds. These four-week repos will be held in addition to the overnight and 14-day variable rate repos currently held under the liquidity adjustment facility, dealers added. (UNI) |
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JKBL aims 33 pc growth in profit NEW DELHI, Oct 21: Jammu & Kashmir Bank may go for a public offer next year to raise its capital base and sustain its growth in business, which is slated to cross Rs 25,000 crore by the end of this fiscal. "We may decide on the public offer next year. At present, our capital adequacy ratio is at 17.35 per cent, which is much higher than RBI stipulated 9.0 per cent," J&K Bank Chairman M Y Khan said here today. Jammu & Kashmir State Government holds 53 per cent stake in the bank, while financial institutions have about 4-5 per cent and the remaining is with public. The bank’s scrip is hovering at around Rs 280 at the country’s stock exchanges. Khan ruled out plans to acquire banks but said "we are looking for acquiring branches of different banks in various parts of the country." The bank also plans to open four overseas branches in Dubai, Kuala Lumpur, London and New York as part of expansion plan. Khan said the bank has already applied to RBI for opening branches in Dubai and Kuala Lumpur. "We are targeting Rs 400-450 crore net profit this fiscal compared to Rs 337.75 crore last year. The profits should go up to Rs 500 crore in 2004-05," Khan, who launched the bank’s global debit card yesterday, said. The bank targets Rs 25,000 crore in business (deposits and advances) this fiscal from Rs 22,000 crore last fiscal. J&K Bank, which is one of the fastest growing private banks, hopes to trim its non-performing assets to less than 1.0 per cent by the end of this fiscal from 1.58 per cent. J&K bank has decided to go aggressively for retail credit while focussing on infrastructure funding. Khan, who launched the debit card here yesterday, said the bank was planning to come up with a credit card, internet and mobile banking facilities within a few months. He said the bank also targets Rs 1,000 crore credit to the infrastructure sector mainly in J&K. "We have decided to extend Rs 200 crore each to two power projects — one in Baghliar and another in Sawalkot," he said. The Baghliar project is being built at an estimated cost of Rs 4,200 crore while the other would cost Rs 3,700 crore. (PTI) |
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Gold silver opens glittering on firm global advice MUMBAI, Oct 21: Prices of gold and silver today opened positive mainly on encouraging advice from global markets along with good festival demand, traders at the local bullion market said here today. Prices of standard mint gold 99.5 purity and gold 99.9 purity grades resumed higher by Rs 25 and Rs 30 at Rs 5,615 and Rs 5,660 per ten Gm respectively on improved fresh seasonal demand from local customers and jewllery makers. Admist firm advice from international markets, gold was quoted higher at around usd 374.55/374.65 per troy ounce from its previous day’s finish, traders said. Similarly, silver .999 fineness grade, also was up by Rs 40 at Rs 8,220 per Kg in line with yellow metal prices, traders said. At London and Hong Kong bullion markets, silver quoted high at around USd 4.92/4.94 per troy ounce from its earlier rates, traders added. Following were opening rates at local market: silver (per Kg) .999 fineness grade : Rs 8,220, gold (per 10 Gm) 99.5 purity standard mint: Rs 5,615, gold (per 10 Gm) 99.9 purity variety : Rs 5,660. (UNI) Kashmir’s 11,000 SSI units untraceable SRINAGAR, Oct 21: About 11,000 Small Scale Industrial (SSI) units in Jammu and Kashmir are not traceable, affecting the economic development of the State adversely.. This came into light during the inauguration of a three-day workshop on the export potential for carpets in Europe and exim procedures here yesterday. A survey conducted by the authorities recently found that these units set up in the state are now untraceable. State Deputy Chief Minister Mangat Ram Sharma, who inauguarted the workshop, expressed his concern on it and said efforts have been made to seek their whereabouts. Speaking on the occasion, he said entereprenurial development has to play a crucial role in creating income-earning opportunities, besides increasing participation of disadvantaged and marginalised groups of the society. The development of small and medium industries would go a long way in tackling the problem of unemployment among the educated youth, he said laying stress on skill development especially when entrepreneurship is at the crossroads of liberalisation and globalisation. The workshop, organized by the newly-established Jammu and Kashmir entrepreneurship development institute in collaboration with PHDCCI and Germany-based Konrad Adenader foundation, will deliberate upon various aspects with regard to the emerging global market for the state’s carpets and handicrafts. (UNI) |
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