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| Germany in talks with India on wind energy NEW DELHI, Dec 24: Germany is in talks with India on possible bilateral ties in the area of wind energy and "the two.......more Indian
market takes off NEW DELHI, Dec 24: From a standing start at the beginning of 2004, India’s aviation market is clearly in take-off mode......more MUMBAI, Dec 24: The sensex continued its rising trend and broke all previous records to touch 6500.09 points at....more India
cements to raise NEW DELHI, Dec 24: India cements plans to increase capital base by Rs 139 crore through private placement of equity.......more |
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Inflation falls below 7 pc mark NEW DELHI, Dec 24: Continuing its fall for the third consecutive week, inflation dipped to 6.73 per cent for the week.........more Textile
industry awaits NEW DELHI, Dec 24: The year gone by was spent by the Government and the textile industry in preparation and....more NIFT
introduces CHENNAI, Dec 24: The National Institute of Fashion Technology (NIFT) has designed a new multi-disciplinary curricu.....more MUMBAI, Dec 24: Mahalaxmi saras-2004, an eleven-day exhibition hosted by the State Government to showcase handicrafts of artisans from different states, will get underway at Bandra........more |
Germany in talks with India on wind energy NEW DELHI, Dec 24: Germany is in talks with India on possible bilateral ties in the area of wind energy and "the two countries are moving very closely to strike a comprehensive understanding". "Germany has already taken up the matter with the Indian Government and the indications are positive," German Ambassador Heimo Richter said in an ASSOCHAM statement. Germany is the global leader in the production of wind energy and would be able to lend technology support to India for producing this form of non-conventional energy, he said. Though just two per cent of the total energy produced in India is from wind energy, estimates by the Ministry of Non-Conventional Energy sources say the country can harness wind power up to 45,000 mw from the current 3000 mw provided it imports technology and equipment. Of the 40,000 mw wind energy produced globally, Germany alone contributes 16,000 mw and it would be a good idea if India imports technology and tools from the world leader, ASSOCHAM president M K Sanghi said. He said though the initial cost for such ventures would be high, the return on the sort of investments in the long run would be highly appreciated. (PTI) |
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Indian market takes off and there is more to come NEW DELHI, Dec 24: From a standing start at the beginning of 2004, India’s aviation market is clearly in take-off mode for the new year. As regulatory changes finally materialise, the domestic sector is already starting to show its potential. And further international liberalisation looks likely within a matter of weeks. These changes have stimulated a flurry of aircraft orders with more likely to follow. The Sydney-based Centre for Asia Pacific Aviation (CAPA) estimates Indian carriers will purchase upto 200 new aircraft by the end of 2005. This is well ahead of manufacturers’ forecasts for the market, causing manufacturers like airbus to scramble to upgrade their market forecasts. Airbus’ latest market forecasts issued only this month had projected just four per cent average annual growth in the domestic Indian subcontinent market over the next 20 years compared to projected 8.7 per cent annual growth in domestic China and 5.9 per cent for the rest of Asia. Airbus this week increased its forecast of sales of new aircraft to Indian carriers from 220 to nearly 400 by the year 2019. This will make the Indian subcontinent the third largest market for new aircraft in Asia behind China (1,790) and Japan (640), according to airbus’ global market forecast 2004-2023. The Capa forecasts total air traffic in India alone will rise by five million passengers each year over the next ten years. India’s domestic and international markets are expected to expand by up to 30 per cent this calendar year to around 20 million passengers each. "The added stimulus of new low cost carriers and India’s rapidly liberalising market will ensure that India’s recent strong growth continues for some time," said Capa’s managing director Peter Harbison. "The impending expansion of international operations will add further to this momentum," he added. The Capa is a specialist consultancy group focused on the aviation industry in the Asia Pacific region. On December 21, air deccan ordered 30 A320s for delivery from 2007-2010 plus options for 25 more. It currently operates three 180-seat A320s leased from Singapore aircraft leasing enterprise. Two more leased A320s and two ordered A320s will join the fleet in february and September 2005. The carrier has confirmed plans to increase its fleet to 60 aircraft within five years. On December 18, Kingfisher Airlines a signed contract with airbus for four A320s and exercised six options, making a total of ten aircraft on firm order. In addition, it will take 20 options. Kingfisher expects to take delivery of these A320s at a rate of upto nine aircraft per year until 2008. Kingfisher recently concluded an agreement to lease four a320s from debis airfinance to launch operations in April 2005. Major orders for up to 100 aircraft by Air India and Indian Airlines are pending while Jet Airways and Air Sahara are also planning to expand their fleets. Meanwhile, two major new greenfield airport projects at Bangalore and Hyderabad received final Government approvals in the past week, paving the way for construction to commence in early 2005. As economies of the Indian subcontinent and west Asia expand, rising income levels and increasing trade links are expected to generate a dramatic increase in both domestic and international passenger traffic. Furthermore, the countries in this region include destinations that have the potential to attract far higher levels of inbound tourism than are currently being achieved. However, in order to support the potential level of activity, significant investment is required to develop the aviation and tourism infrastructure to world class levels. The Indian Government, for example, estimates that its aviation sector alone can absorb 55 billion dollars of project financing over the next 10 years. The Capa says opportunities exist across the region in areas like funding of start-up airlines, privatisation of flag carriers, airport expansion and modernisation, hotel and resort development, tourism infrastructure including golf courses, marinas, theme parks, cruise terminals, highways, convention and exhibition centres. (UNI) |
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MUMBAI, Dec 24: The sensex continued its rising trend and broke all previous records to touch 6500.09 points at Midsession on the Bombay Stock Exchange today as share prices rallied further on sustained buying by Foreign Institutional Investors (FIIs). The BSE-30 share sensitive index opened sharply higher at 6485.26 and soon rallied further, breaching 6500, to touch 6500.09 around 1345 hours. Among the major gainers, Reliance Industries (RIL) quoted smartly higher at Rs 516.90 as against the previous close of Rs 506.05 on increased speculative-cum-investment buying ahead of the company’s meeting on Monday to propose buyback of its shares. Tisco, ACC, GACL, HDFC, HDFC bank, ICICI bank, SBI, L&T, Hidalco, Maruti, ONGC, Satyam Computer, Tata motors, Wipro and Zee also were quoted smartly higher. (PTI) |
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India cements to raise Rs 653 cr in equity, debt NEW DELHI, Dec 24: India cements plans to increase capital base by Rs 139 crore through private placement of equity and mop up Rs 514 crore in debt to fund its expansion. The board of the company has approved the preferential issue of equity warrants and optionally convertible debentures worth rs 653.21 crore today, India cements informed the Bombay Stock Exchange. The company has decided to privately place on a preferential basis 2,96,00,561 equity warrants with an option to the allottees to convert each warrant into one equity share at Rs 47 anytime within 18 months of issue. India cements also plans to issue secured debentures worth 116.84 million dollar (Rs 514.096 crore), including optionally convertible debentures upto 25 million dollar. The convertible debentures will be converted at the option of the holder at the end of 18 months from issue into one fully paid-up equity share of Rs 10 each at Rs 125 per share or at the price as determined in accordance with the sebi norms, whichever is higher, at the time of conversion. The "relevant date" for the determination of applicable price under SEBI norms for equity shares converted from warrants is December 18, 2004 and for debentures it would be a date 30 days prior to the date on which the holder becomes entitled to apply for the shares. India Cement Board of Directors has convened an extraordinary general meeting on January 17, 2005, to pass necessary resolutions covering the proposed capital issues under sec 81 (1a) of the Companies Act, 1956. (PTI) |
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Inflation falls below 7 pc mark NEW DELHI, Dec 24: Continuing its fall for the third consecutive week, inflation dipped to 6.73 per cent for the week ended December 11, mainly due to cheaper vegetables and fuels, after remaining over 7 per cent since July. The point-to-point Wholesale Price Index (WPI) inflation was down by 0.29 per cent, to a 21-week low in the latest reported week, from the previous level of 7.02 per cent. It was 5.80 per cent in the year-ago period. The reserve bank, in its report yesterday, said with the easing of oil prices and improved rabi crop, inflation was expected to moderate over the coming months in line with 6.5 per cent projection made in the mid-term policy review and Finance Minister P Chidambaram’s assertion that "worse is over" on the price line. Under impact of fiscal and monetary measures taken by the government and the RBI, the WPI fell by 0.2 per cent to 188.7 points even as heavyweighted manufactured products became costlier. The index was 176.8 points in the previous year period. Government revised upwards inflation to 7.21 per cent for the week ended October 16 as compared to the provisional level of 7.10 per cent, while the final WPI stood corrected at 188.8 points in mid-October as against the provisional figure of 188.6 points. The index of primary articles’ group was down by 1 per cent to 186 points due to cheaper food and non-food items. It was 181.2 points in the year-ago period. Food articles’ group index fell by 1.3 per cent to 185.4 points due to lower prices of vegetables (10 per cent), fish marine (seven per cent), ragi and fish-inland (two per cent each) and fruits, jowar and tea (one per cent each), even as urad and bajra prices were up by one per cent. The index of non-food articles’ group declined by 0.2 per cent to 180.7 points owing to lower prices of niger seed and logs and timber (four per cent each), raw cotton (three per cent) and castor seed (one per cent). But prices rose for raw rubber (six per cent), soyabean (four per cent), raw wool (three per cent), raw jute (two per cent) and tobacco and groundnut seed (one per cent each). Fuel, power, light and lubricants’ group index fell by 0.1 per cent to 288.8 points due to three per cent decline in the price of furance oil and naphtha (one per cent). The index was 255.9 points in the previous year period. During the week under review, the global crude oil futures plunged to a five-month low of less than 41 dollar a barrel, prompting OPEC to decide on a cut in production from next year to stem sliding prices. (PTI) |
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Textile industry awaits dawn of new global trade regime NEW DELHI, Dec 24: The year gone by was spent by the Government and the textile industry in preparation and anticipation of dawning of a new global textile trade regime from January one, 2005. The previous National Democratic Alliance Government had begun the process of addressing the distortions in the tax regime applicable to the sector to make composite mills more viable, but by bringing even the unorganised sector in Central Value Added Tax chain it opened a political can of worms. It became an election issue in some parts of the country and unorganised sector was promised by some parties that they will be exempted from CENVAT. After the United Progressive Alliance Government took over, it cut the knot by making CENVAT optional for composite mills and unorganised players in the textile sector. This move consolidated the growth in the textile sector and companies unveiled huge expansion plans to tap the opportunity that will come up after the quota system in the world textile trade goes. According to the Government, country’s textile exports could double to 25 billion dollars in next two years and touch 50 billion dollars by 2010. The organised players in the textile sector, whose competitiveness was eroded over the years because of additional taxes on them, will need huge doses of investment to make them viable again. According to some experts, the textile industry requires Rs 90,000 crore of new capital in the next five years. With Government waking up to the export potential of the textile segment, it fine-tuned the Technology Upgradation Fund Scheme (TUFS) for the sector that was running for the last few years. It sat down with the banks running the scheme, which provides five per cent interest subsidy, and told them to ease procedures for disbursement of loans. The investments by the organised players, which had started pouring in the last three years received a major boost. Till September 30 this year, disbursements under TUFS have reached Rs 956 crore as against Rs 856 crore in 2003-04. The number of applications received during the last fiscal for loans under the scheme almost doubled to Rs 3,356 crore against the number of applications received in 2002-03. The sanctions during the last fiscal were also up nearly 100 per cent to Rs 1,341 crore, against the previous fiscal. The Government is now planning to raise subsidies provided under tufs to eight per cent from the present five per cent. Enthused by the offtake from TUFS, it is also thinking of increasing the corpus of the fund by 160 per cent to Rs 65,000 crore from Rs 25,000 crore in the next two years. In the next three years it is making efforts to increase the allocation to Rs 90,000 crore. Textiles Minister Shankersinh Vaghela said "the offtake from the Rs 25,000 crore TUFS has been just Rs 6,000 crore in the last five years. We want to increase the off take. I have discussed the issue of increasing subsidy with my colleagues and the cabinet will take a decision on it soon." (PTI) |
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NIFT introduces new skill-oriented curriculum CHENNAI, Dec 24: The National Institute of Fashion Technology (NIFT) has designed a new multi-disciplinary curriculum, aimed at delivering skill-oriented and broad-based education, integrating Information Technology (IT) and modern industry practices for an all round development of future fashion professionals. The new curriculum also aimed at providing university education in a 10 plus two plus four pattern, is consonant with global professional education systems, providing an opportunity for NIFT professionals to be a part of the global network of design, management and technology education institutes. Giving details of the admission process, Mr S Devadoss, registrar of NIFT, in a release here said that the NIFT in Chennai, offered five under graduate programmes in fashion design, footwear and leather products design, knitwear design, textiles design and apparel manufacturing and information technology. He said the process of admission to NIFT courses for 2005 had begun and applications for admission should be submitted by January ten. The applications could be obtained from the institute at Taramani near here or from any branch of the UTI bank across the country on payment of Rs 200 by hand or by post on payment of Rs 300. (UNI) |
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MUMBAI, Dec 24: Mahalaxmi saras-2004, an eleven-day exhibition hosted by the State Government to showcase handicrafts of artisans from different states, will get underway at Bandra here from today. Principal Ssecretary (rural development) S S Hussain told reporters here that the exhibition will be inaugurated by Chief Minister Vilasrao Deshmukh in the presence of deputy Chief Minister R R Patil and Rural Development Minister Vijaysinh Mohite-Patil. The exhibition will showcase the work of artisans from more than 20 states, he said. The event is being organised to provide the economically-backward artisans an opportunity to market their produce. Under the Swarnajayanti Gram Swarojgar Yojna (SGSY), these artisans come together to form self-help groups and are encourgaed to produce and market their goods collectively. Saras provides an opportunity for the artisans to display and sell their products, he added. (UNI) |
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Conducted tours for students by Haryana tourism corp CHANDIGARH, Dec 24: Keeping in view the winter vacations in educational institutions, the Haryana Tourism Corporation has started special conducted tours for budget tourists, students and groups from Chandigarh to Morni and Tikkar Taal. These tours would continue till January 3, 2005, State Tourism Corporation Managing Director Ms Navraj Sandhu, said yesterday. She said that the Haryana tourism had recently commissioned "hills and thrills" adventure Theme park at Tikkar Taal, 10 km ahead of Morni, where adventurous, thrilling and exciting activities, games and rides were available. A huge water body at Tikkar Taal was being used for a variety of water sports. The foothills of Shivalik were also ideal for rock climbing, trekking and jungle walk, she said. She said the corporation had variety of packages for day visit and night visit for students, groups, families and corporate executives. A number of students of schools and colleges of Punjab, Haryana and Delhi had already visited the adventure Theme park at Tikkar Taal and enjoyed the facilities available there. (UNI) |
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4th National Science Communication Congress GWALIOR, Dec 24: Media and Science Communicators should make coordinated efforts for creating a need for "science literacy" among masses to help further strengthen democracy in India, experts say. This calls for a multi-disciplinary approach besides constantly redesigning science communication courses in colleges and universities with greater thrust on practical aspects of writing. The views came up at a special session on ‘science communication for young researchers’ at the 4th National Science Communication Congress’ penultimate day in this Citadel town. "The National Council for Science and Technology Communication is undertaking feedback studies on the impact of celebrating 2004 as the year of scientific awareness," NCSTC Member-Secretary Anuj Sinha said. "India is fully equipped with technology to confront chemical and bio-terrorism," said Defence Research and Development establishment deputy Director S K Raza while adding that the DRDE pioneered technology in combating such terrorism. Kits to handle anthrax were developed recently and sent to its mother wing - the DRDO. (UNI) |
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Gold mining, most polluted activity:US Co MUMBAI, Dec 24: Gold mining is one of the most destructive activities in the world and can leave a trail of social destruction, displacing comunities from their homelands against their will and destroying traditional livelihoods, according to Sampat Payal, Director of a US-based organisation "earthworks". Even five ounce of gold used in the making of a gold ring leaves 20 tonnes of waste around the mining area. Making a presentation to a select gathering at the press club here yesterday, Ms Sampat said toxic chemicals such as cyanide and mercury used in producing gold (80 per cent of which is used in jewellery) have polluted drinking water supplies, contaminated farmlands and harmed the health of workers and communities. Between 1995 and 2015, approximately half of the gold produced worldwide has or will come from indigenous peoples’ lands and this threatens their survival because of the enormous amount of chemicals used polluting the surrounding areas, she said. More than three times the identified underground reserves of the yellow metal is already in circulation across the globe with india being the largest consumer in the making of jewellery. While South Africa, the United States, Australia, Canada and Brazil are the largest producers of gold, India is followed by the US, Middle East, western Europe and Turkey as the consumers. With the value of the currrency like the US dollars coming down,the demand for gold has been increasing. Ms Sampat felt that the banks which have been keeping huge quantities of gold should circulate it in the market. Earthworks, Ms Sampat said, has launched a "no dirty gold" campaign to create awareness among the users of gold about the destruction the mining activity has been causing in different parts of the globe. She said the campaign is not to put an end to the mining of gold, but to create an awareness about the dangers of mining the metal and to bring in safe mining and taking precautions to ensure that there is no mining in the presence of sulphuric acid. Also, the locals should be taken into consideration before such an activity is undertaken. Ms Sampat said the campaign has evoked tremendous response in the United States and a few leading newspapers have been giving "front page" treatment to the destruction caused by the mining activity. A few leading gold mining companies have decided not to undertake mining around the heritage sites. (UNI) STP in Siliguri, Haldia by Oct next year KOLKATA, Dec 24: The proposed Software Technology Park (STP) in Siliguri and Haldia in West Bengal will be commissioned by October next year, state IT Secretary G D Gautama said today. We have already commissioned the software parks in Durgapur and Kharagpur. The proposed software parks in Siliguri and Haldia will be ready by October next year, Mr Gautama said here. He was speaking at the industrial India trade fair organised by the Bengal National Chamber of Commerce and Industry (BNCCI). Describing the immense potential in the IT sector in the state, the IT Secretary informed that lower attrition rate, power condition, infrastructure and reformative it policy by the State Government will provide the right atmosphere for IT sector development in the state. We have organised 56 roadshows in Hyderbad, Noida and Gurgaon among others to attract investment in the sector in the state. We are targetting 15 per cent of IT services and 20 per cent of IT Enabled Services (ITES) revenue in the country by 2010 from 5.1 per cent at present, he said. The sector has the potential of employing 4.15 lakhs by 2010, he said. State IT Minister Manabendra Mukherjee urged the small entrepreneurs in the state to start ventures in the IT sector in the state. The state, Mr Mukherjee said, needs more entrepreneurs so that companies in the stature of Wipro were formed in the state. He said the state has embarked in e-governance initiatives and in the next six months all the SDO offices in the state will get network connectivity through the West Bengal State Wide Network (WBSONE). The state will also be able to register lands online in the next six months after the network is established, he added. (UNI) |
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