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Firm’s checks to Annan’s son went on for years:UN UNITED NATIONS, Nov 27: The son of UN Secretary-General Kofi Annan got monthly payments more than four years longer than was previously........more Membership verification of telecom unions on December 1 PATNA, Nov 27: About 2.8 lakh Bharat Sanchar Nigam Limited employess across ......more India’s forex reserves cross USD 125 billion mark MUMBAI, Nov 27: Robust trade and overseas investment inflows along with revaluation of currencies propelled India’s foreign exchange reserves to rise .....more Direct flight to Haj from Aurangabad AURANGABAD, Nov 27: Pilgrims intending to fly to Haj can now avail the facility from the city from this year. "This arrangement would faciliate over 4,000 pilgrims from eight districts of .........more |
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Chinese province keen in setting up software instiute BANGALORE, Nov 27: Chengdu in Sichuan province of China is looking to Karnataka for setting up of a software technology training institute and also ........more CBI
hikes deposit MUMBAI, Nov 27: State Bank of India has raised interest rates on the domestic term deposits by 0.25 to 0.50 per cent across various maturities . .......more Tripura
to demand over AGARTALA, Nov 27: Tripura Government will demand Rs 825 crore as ....more SBI revises rates on domestic term deposits, home loans MUMBAI, Nov 27: State Bank of India (SBI), the largest Commercial Bank in the country, today announced an upward revision in domestic term .......more |
Firm’s checks to Annan’s son went on for years:UN UNITED NATIONS, Nov 27: The son of UN Secretary-General Kofi Annan got monthly payments more than four years longer than was previously known from a Swiss firm that won a lucrative contract under the scandal-ridden UN oil-for-food program, the United Nations said. Kojo Annan, the UN leader’s son, was paid 2,500 dollars monthly — a total of 125,000 dollars — by Geneva-based cotecna from the beginning of 2000 through last February, as part of an agreement not to compete with cotecna in west Africa after he left the firm, UN Chief spokesman Fred Eckhard said. There have been no specific charges of wrongdoing on the part of the secretary-general in the world body’s December 1998 award to cotecna of a multimillion-dollar contract to monitor Iraqi imports under the oil-for-food program. But the disclosure of the extra years of payments renewed questions about conflicts of interest and left Annan and his staff looking inept in their handling of the matter. The program, which let Iraq export oil and use the proceeds to buy food and other goods despite a UN ban on oil sales, was shut down after last year’s US-led invasion of Iraq. Congressional investigators say Saddam Hussein’s regime reaped over 21 billion dollars from kickbacks and oil smuggling before and during the time the now-defunct program was in operation. But most allegations center on private companies and Governments and not on Annan or the United Nations. The additional 50 months of payments to Kojo Annan were disclosed in yesterday’s New York sun newspaper. It said the information had been confirmed by his lawyer. (AGENCIES) |
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Membership verification of telecom unions on December 1 PATNA, Nov 27: About 2.8 lakh Bharat Sanchar Nigam Limited employess across the country will vote on December one to ascertain the strength of 11 unions functioning among different sections of non-gazetted employees under the company. BSNL authorities had completed all preparations for polling, secretary of Patna Circle of National Federation of Telecom Employees (NFTE) C Singh said. In the last poll conducted on December 25, 2002, NFTE secured support of 1.05 lakh employees to top the popularity list and was hence entitled to all facilities meant for the recognised union for a period of two years, Mr Singh said. In the coming polls 7,600 BSNL employees under 18 Telecom Districts of Bihar would be eligible to participate and 43 booths had been set up for the purpose across the state, he addd. (UNI) |
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India’s forex reserves cross USD 125 billion mark MUMBAI, Nov 27: Robust trade and overseas investment inflows along with revaluation of currencies propelled India’s foreign exchange reserves to rise further by US dollar 1.56 billion to cross USD 125 billion mark during the week ended November 19. Foreign exchange reserves for the week under review grew by USD 1,560 million to USD 1,25,098 million, the Reserve Bank of India said in its weekly statistical supplement released today. The foreign exchange kitty has seen inflows of USD 3.91 billion in the month till November 19. The foreign currency assets were also up by USD 1,551 million to USD 1,19,396 million, the RBI said. The remittance of export proceeds, Foreign Institutional Investments and revaluation of international currencies, including the US dollar, contributed to the surge in reserves, analysts said. Special drawing rights and gold remained static at USD five million and USD 4,351 million respectively, it said. India’s Reserve Tranche Position with the International Monetary Fund rose by USD nine million to reach USD 1,346 million, it said. Loans and advances to the Central Government had a nil balance while that to State Governments were up by Rs 769 crore to Rs 4,477 crore. (PTI) |
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Direct flight to Haj from Aurangabad AURANGABAD, Nov 27: Pilgrims intending to fly to Haj can now avail the facility from the city from this year. "This arrangement would faciliate over 4,000 pilgrims from eight districts of Marathwada division," Chief Executive Officer of Central Haj Committee Abdul Rasheed Mir said in a release here today. Lodging, clearance for customs, immigration, ‘Waju Namaz’ and other facilities would be provided to the pilgrims at the Aurangabad airport, Mir added. (PTI) |
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Chinese province keen in setting up software instiute BANGALORE, Nov 27: Chengdu in Sichuan province of China is looking to Karnataka for setting up of a software technology training institute and also for implementation of telemedicine. This was highlighted by Dr Hao Kangli, member of the standing committee of the Chinese Communist Party at a reception in honour of former Karnataka Chief Minister S M Krishna held in Chengdu yesterday. According to a release from Mr Krishna’s office here today Prof Kangli had stated that Chengdu was looking to Karnataka as a trading partner for procurement of raw materials in the field of biotechnology, pharmaceuticals and automobile industry. Mr Kangli had stated that China had the highest regards of late former Prime Minister Rajiv Gandhi and recalled the remarks of Mr Gandhi during his visit to China in 1987 about the communication revolution being witnessed in India. He said China was looking towards India for high yielding quality cotton. Mr Krishna speaking on the occasion had said that the state would like to implement the Chinese model in agriculture through which the yield in farm produce could increase significantly with a marginal investment. The state wanted to improve the quality of life of the farmer. He wanted Chinese companies to invest in Karnataka, especially in the manufacturing sector. (UNI) |
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CBI hikes deposit rates by 0.25-0.50 pc MUMBAI, Nov 27: State Bank of India has raised interest rates on the domestic term deposits by 0.25 to 0.50 per cent across various maturities effective from November 29. The bank has also hiked floating home loan rates by 0.50 points and fixed rate option by 0.25-0.50 per cent. The other lending rates have been kept intact, SBI chief financial officer Yogesh Agarwal told PTI today. The bank has also introduced new term deposit bucket of five years and above with an interest rate of 6.25 per cent to raise long term funds to finance infrastructure projects, he added. (PTI) |
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Tripura to demand over Rs 825 crores for next fiscal year AGARTALA, Nov 27: Tripura Government will demand Rs 825 crore as annual plan allocation for the next financial year to the Planning Commission. Official sources said here today a high-level meeting between the Tripura Chief Minister Manik Sarkar and Planning Commission deputy Chairman Montek Singh Aluwahlia will be held in Delhi on December one to finalise the annual plan allocation for the financial year 2005-06. Finance Minister Badal Chowdhury, Chief Secretary R K Mathur and senior officials will also participate in the meeting. Mr Sarkar today held a high-level meeting with senior officials of all the departments and discussed the department-wise requirement of allocation of funds and other ongoing schemes. The Planning Commission has earlier allocated Rs 702 crore for the current financial year. The State Government earlier protested unilateral allocation of fund by the Planning Commission without any discussion with the State Government. State Chief Minister in a recent letter to the Commission protested this "undemocratic and unprecedented" step of the planning body. The Commission earlier informed the State Government that due to non-approval of the Central budget, the former had finalised the annual plan of the state. State’s Finance Minister Badal Chowdhury recently met Union Finance Minister P Chidambaram in Delhi and requested him to release Rs 74.36 crore, which was witheld by the Finance Ministry for 2002-2003. Tripura is the only state in the north-eastern region which is yet to receive the grant for the year 2002-2003. It was despite the State Government having exceeded own revenue collection and containing the expenditure well within the target limit fixed under the Medium Term Fiscal Reform Programme (MTFRP), Mr Chowdhury told Mr Chidambaram. The State Government has maintained its good track record in Prudential financial management and increased its own revenue collection at an average rate of 22 per cent during the past five years, Mr Chowdhury said adding that the state had not availed any over draft facility in preceeding six years. (UNI) |
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SBI revises rates on domestic term deposits, home loans MUMBAI, Nov 27: State Bank of India (SBI), the largest Commercial Bank in the country, today announced an upward revision in domestic term deposit rates by a margin of .25 percent (short term) to one percent (long term). SBI has also decided to hike its floating as well fixed home loan rates by 25-50 basis points. These revised rates are effective from November 29. According to an SBI release, the rates for deposits of 180 days to less than one year was hiked from 4.25 percent to 4.50 percent while for three years to less than five years, the rates were fixed at 5.75 percent as against the previous rate of 5.25 percent. Deposits for five years and above will now attract an interest of 6.25 percent as against the 5.25 percent now. A new slab has been introduced for the domestic term deposits with a maturity period of "7 days to 14 days". The interest rates payable on deposits of senior citizens was revised upward by 50 basis points for short-term (3 and 5 years) and the deposit for five years and above would attract an interest rate of 6.50 percent as against the 5.75 per cent now. In case of floating interest, SBI revised rates for loans upto five years from by 50 basis points at 9.25 percent as against the present 8.75 percent. For 15 years and above, the rate has been moved up to 8.75 percent from 8.25 percent. The fixed loan rate was revised upward by 25-50 basis points. The revised interest rates shall be applicable to all housing loans whose first disbursal is on or after November 29, 2004 irrespective of date of sanction. In all cases where first disbursal is before November 29, 2004, the existing interest rates will continue for both floating and fixed rates. (UNI) |
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Dena Bank to undertake ‘visionary exercise’ to increase business MUMBAI, Nov 27: Dena Bank, which will shortly come out with second public offering of shares, today announced that it plans to undertake a ‘visionary exercise’ to scale up its business growth in future. The bank was also in the process of preparing a strategic plan for the next three years. To pursue this, the bank has organised the first workshop for the top management, which would be held on Monday. For this, the bank has invited NIBM professor Dr Satyanarayan, who will have interactions with the managers and shall be the facilitator of the workshop. (UNI) |
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Conference on Maharashtra’s IT sector on Nov 29 PUNE, Nov 27: The Confederation of Indian Industries (CII) and the Government of Maharashtra are jointly organising ‘digital Maharashtra’ here on November 29, a conference aimed at showcasing the state business and investment climate for the IT sector. The one-day conference will explore new ideas and strategies to encourage the IT industry in the state. Issues such as public-private partnerships, establishment of e-governance and IT-enabled services will be also be discussed at the meet, a CII release said. (UNI) |
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