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| Shree Cement gradually ‘capturing
market’ Excelsior Correspondent JAMMU, Oct 29: Shree Cement Ultra Milan Samarak, attended by main distributor Allisha Cement Corporation, contractors and masons, was held at Trikuta Nagar, here today........more SEBI
closes in on MUMBAI, Oct 29: The Securities and Exchange Board of India is all set to take action against.....more Emirates
e-ticketing NEW DELHI, Oct 29: Rmirates has become the first airline in Arab world to offer e-ticketing......more Govt to
allow foreign MUMBAI, Oct 29: Government would allow creeping acquisition by foreign banks by letting them pick ten per cent........more |
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Media Video Ltd enters into television market, presents full range of CTVs Excelsior Correspondent JAMMU, Oct 29: Media Video Limited, a premium entertainment electronics brand in the Indian market, has entered in the production of heavier products.........more Environmentalists,
NEW DELHI, Oct 29: The Government decision to change the Delhi master plan.....more Asia’s
Premier IT BANGALORE, Oct 29: Concentrating on quality and high value it business, the seventh edition......more Ahimsa
silk, faux fur, NEW DELHI, Oct 29: Introducing alternatives for the fashion world in order to stop cruelty.........more |
Shree Cement gradually ‘capturing market’ Excelsior Correspondent JAMMU, Oct 29: Shree Cement Ultra Milan Samarak, attended by main distributor Allisha Cement Corporation, contractors and masons, was held at Trikuta Nagar, here today. Assistant General Manager (Marketing) of Shree Cement Limited, Mr K K Talwaar, while addressing the gathering, gave details of the company and its product. He said that the Shree cement is gradually gaining popularity and capturing the market. He claimed that the cement is of high quality as it has ISI standard marking. The cement is red oxidised and so is a good building material, he added. The main production centre is in Rajasthan and during the past two decades this brand is surging forward in the markets of Jammu and Kashmir, Punjab, Haryana, Delhi and Rajasthan, he stated. Mr Talwar informed about the gift scheme for the dealers and said that the coupons holders will be given transistors, Television, etc according the sales of this cement. Mr Sunil Pandita also spoke and gave main features and quality of this brand of cement. Mr Sanjay Koul informed the dealers about the grade and qualities of Shree cement. The R Kay Grinding Jammu has set up its factory at Hatlimore in Kathua and Mr Katyal is its managing director. He also participated in the meet. Mr Bharat Bhushan Gupta of Allisha Cement Corporation distributed mementos among the Shree cement dealers. A documentary, depicting the company and its product was screened on the occasion. Earlier, the Shree Cement Ultra samarak meet was also organised at Roop Nagar, Jammu. A large number of masons and prominent dealers attended it. The Roop Nagar function was presided over by Mr Neeraj Anand. |
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SEBI closes in on price manipulators of ‘black Monday’ MUMBAI, Oct 29: The Securities and Exchange Board of India is all set to take action against those responsible for the market crash on ‘black Monday’ (May 17) after the Congress-led UPA coming to power at the Centre, according to Union Finance Minister P Chidambaram. After delivering the keynote address on the occasion of the tenth anniversary of the National Stock Exchange (NSE) here today, P Chidambaram told reporters here today that SEBI chairman G N Bajpai has completed his investigation and follow-up action on the May 17 market crash. The action would be taken in next few days, he said. The Bombay Stock Exchange (BSE)’s sensex dipped 564.71 points to close at 4505.16 points on May 17. It went intra-day low at 800 points. Similarly, the National Stock Exchange (NSE)’s nifty also went down by 193.65 points to close at 1388.75 points on the same day. On the present inflation rate of 7.1 per cent, the Finance Minister said that the inflation is a cause of concern. He said that the fiscal and monetary steps are helping to moderate inflation. "But, I am not happy with the situation", he said. Mr Chidambaram said that the Reserve Bank of India (RBI) Governor Dr Y V Reddy’s mid-term review of annual policy statement containing increase in the repo rate by 25 basis point to 4.75 per cent would help to contain inflation. The Government will not allow any irrational price behaviour in any commodity, he said. The Finance Minister said, "we are watching the situation, we will take further steps if necessary". Earlier, addressing the market players at the NSE function, Mr Chidambaram said that he was unhappy with the May 17, 2004 incident. However, he said that there was not a single default reported on that day inspite of record high selling at the bourses, for which the brokers and other market players must be congratulated. Such an event would have created a lot of problems in any other part of the world, he said. The Finance Minister said that the market needs to operate in a transparent and efficient manner to attract investments from the common man. The total savings in the country constitute 26 per cent of the Gross Domestic Product (GDP) which comes mostly from households, he said. Mr Chidambaram said, "a strong and efficient regulator is necessary". The financial markets are too important for the economy and it cannot be ignored or left unattended, he said. The Finance Minister said that thousands of investors abandon the market during a market crash. He called upon the market operators to work in the interest of the economy and investors. Mr Chidambaram also said that there can be a convergence between the securities and commodities market with a single regulator overlooking them to eliminate risk. The Government is also working towards the e-mutualisation and corporatisation of the securities exchanges, he added. (AGENCIES) |
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Emirates e-ticketing now in 44 cities NEW DELHI, Oct 29: Rmirates has become the first airline in Arab world to offer e-ticketing. The facility is rapidly being rolled out to its network, global distribution systems and interline e-ticketing partners, benefiting customers worldwide. Since last May, when Emirates first launched the system, the airline has nearly doubled the number of destinations that are e-ticket compliant, overcoming regulatory challenges and keeping its nose to the grindstone. Starting with 26 destinations, today e-ticketing is available from America to Australia in 44 cities across the Emirates network including Mumbai and Chennai. (UNI) |
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Govt to allow foreign banks to acquire stake in pvt banks MUMBAI, Oct 29: Government would allow creeping acquisition by foreign banks by letting them pick ten per cent stake in Indian private sector banks every year and acquire control in 3-4 years time. But public-sector banks would remain as state-owned units and would be allowed to raise money from the markets, he said. "We will encourage level playing field for public sector, private as well as foreign banks in the country and RBI is putting in place necessary guidelines for it," Finance Minister P Chidambaram said. Government, however, would not favour one particular segment of banks in the country but like to seek consolidation of Indian banks, he said while inaugurating the new corporate office of Dena Bank at the Bandra-Kurla complex. Allaying fears over the fate of PSU banks, he said PSU banks would be encouraged to raise capital from the market and Government would not provide any equity support. Government was in favour of small or minority shareholders of PSU banks getting position on the Board of Directors. Exhorting banks to think globally, Chidambaram said, the Government wanted the Indian banks to be accepted on par with international banks by 2010. Expressing happiness that banks have begun talking to one another, Chidamabaram said Government "will not force anyone (banks) with merger or alliance but will bless the marriage (merger) if it comes through." Public sector banks can also look at private banks if they are suitable candidates, he added. The finance minister said big banks were also necessary to help make Indian companies global. (PTI) |
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Media Video Ltd enters into
television market, Excelsior Correspondent JAMMU, Oct 29: Media Video Limited, a premium entertainment electronics brand in the Indian market, has entered in the production of heavier products and presented a full range of colour televisions. The company has unveiled a state of art 29 inches True Flat with super fine Acoustic effects, 1500 watts. 21 inches True Flat and 21 inches Super Flat supported by portable 14 inches models with exclusive designs are also available. This was informed by J P S Virk, Zonal Manager of Media Video Limited, while talking to mediapersons, here today. "The entire product range has been incorporated with the latest in TV technology i.e. the ultimate one chip solution for the best clarity and years of trouble free viewing," he claimed. Mr Virk disclosed that the entire range of Media televisions would be available in the market before Diwali and the company is spending Rs 50 crores on manufacturing and marketing of its new product. He also clarified that the newly launched Media television are not being assembled but manufactured by the company. "Exclusive dyes and cabinet are being used by the company for manufacturing of televisions so that an entire different look can be given to our product," he said. "The company is concentrating more on quality of the product and ‘high technology and honest pricing’ is our slogan," Mr Virk said. Harjeet Singh, Branch Manager of Media video Ltd, informed that the company has drawn up aggressive plans for manufacturing and marketing world class consumer electronics products and technologies in the Indian market place. As part of the startup plans, a tie-up with global major HAIER for manufacturing DVD players has been undertaken and a plant with production capacity of one million units is being set up at Baddi in Himachal Pradesh. Further, he added, talks are on with AMOI, a leading Chines mobile handset manufacturer. Anil Gupta, Managing Director of A M Agencies, sole distributor of the Media Video products in J&K State, hoped good response of consumers for new products of the company, particularly televisions. |
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Environmentalists, planners
oppose change NEW DELHI, Oct 29: The Government decision to change the Delhi master plan to retain small industrial units in residential areas might have brought relief to thousands of manufacturers and their employees, but it would have far reaching effect on the environment and landscape of the city and in turn on the public health, feel environmentalists and town planners. Besides, the decision has come as a great boost to illegal mafias in the construction and other sectors reassuring them that once something comes to exist on the ground, it has to be legalised sooner or later, they say. Centre for Science and Environment (CSE) Director Sunita Narain termed the decision as surrender to vested interests. The magnitude of the costs to the public in terms of environmental pollution and filth created by factories in residential areas was not being realised by politicains, she said. "It shows the complete lack of any planning and clear thinking on the part of the Government. The Supreme Court has been sounding the Government over the past years about the pollution being created by these units but the Government slept over the matter and awoke just a few months back," she added. Moreover, it will create a bad precedent in a city disfigured by illegal constructions. It will encourage the land and construction mafia to add more unauthorised constructions to the city’s land scape in the hope that they will be legalised sooner or later. Prof Surendra Suneja of the School for Planning and Architecture says allowing the small units in the residentail areas would play havoc with the city’s environment and landscape. The operation of small units will greatly strain the ground water resources, he said. He said a comprehensive plan of action was needed for solving such problems and the issue should not be taken advantage of by politicians. Endorsing their views, Ms Savita Joshi, a resident of Mandawali said the decision will only add to the woes of residents. "We are already facing lot of pollution and filth beacuse of the existence of household units and now with the Government going to legalise them, they will operate without any hinderance and cause further increase in their numbers." Similar sentiments were expressed by a Naraina doctor who said that the insanitary condition prevailing in his area will get worse. The court order had given us the hope of getting rid of pollution but the vested interest in collusion with the politicians have put an end to it, he added. However, Rampal working in a flour mill is happy with the decision as he says he will not lose his job. "It’s a big relief for our family," he said. Shifting of the units would have caused a lot of misery to the poor people employed in them as they would have found it very difficult to commute to such long distances. A manufacturer of Mundka also welcomed the decision saying it will bring great relief not only to factory owners but to lakhs of people employed in their units. (UNI) |
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Asia’s Premier IT event to kick start on November one BANGALORE, Oct 29: Concentrating on quality and high value it business, the seventh edition of the Bangalore it.Com, dubbed as Asia’s Premier Information Technology event is all set for unveiling on November one. With more than 290 companies from 11 countries and 13 Indian states, the event, for which more than 1500 delegates had already registered, will have animation and gaming infrastructure as an added attraction and thus encompass the entire Information and Communication Technology. For the first time in the country, various trade bodies have come together to organise conferences during the five day event, Karnataka IT and BT Secretary M K Shankaralinge Gowda told newsmen here today. At the curtainraiser press conference, Mr Gowda said the event has emerged stronger in content. The move was to spread quality IT industry in Bangalore, the high tech capital of the country and move other IT openings to secondary cities of Karnataka such as Mangalore, Mysore, Hubli, Belgaum and Gulbarga which have already caught the it bug in a big way. Mr Gowda said the conferences were comprehensive in reach and rich in content. Bangalore today housed more than 1400 IT companies with as many as 100 of them setting shop after April one. The IT exports had crossed 4.3 billion dollar mark and was surging forward, he added. The event would have conferences on technology outsourcing to be organised by IDC, IT innovation in India to be held in association with NASSCOM, e-governance with Confederation of Indian Industry taking the lead, and on entrepreneurial opportunities in association with the tie group. The newly formed Indian semiconductors association would also hold a conference on India as a global hub for semiconductors, Mr B V Naidu, Director of the software technology park of India-Bangalore, who was also present, said. The internet world this time would be held in all the 27 districts covering more than 30 centres. As many as 61,300 students had taken part in the IT rural quiz conducted by the Tata consultancy services as a run up to the IT.Com. The final round of the quiz would be held on November two. (UNI) |
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Ahimsa silk, faux fur, pleather
replace animal NEW DELHI, Oct 29: Introducing alternatives for the fashion world in order to stop cruelty on animals, people for the ethical treatment of animals have turned to the National Institute of Fashion Technology Students to spread its use. With cows throat being slit with blunt knives for ‘enlivening’ leather, sheep being ‘mulesed’ for wool, minks and foxes cruelly trapped and silkworms being boiled alive, peta yesterday made a graphic presentation before the country’s fashion front-runners to "imbue compassion while designing for fashion". The presentation traversed through the entire gruesome process that turns living, breathing beings into jackets or shoes. Peta spokesperson Poorva Joshipura said the idea is to spur among students sensitivity for animals while moving ahead on the fashion firma. To create awareness on animal cruelty in fashion industry is what we seek. "We have shown them alternatives like pleather in place of leather which was eco-friendly, durable and equally fashionable and which could prevent animals from being made ‘victims of passion’ while going for fashion." Faux fur made from natural fibre instead of skin and the Indian breakthrough of ‘ahimsa silk’ made without harming the silkworms are the other alternatives which could set a trend in the fashion arena, she said. The move is part of peta’s international efforts to take the message of using animal-friendly and non-animal material in fashion to top design students all over the world, Ms Joshipura added. (UNI) |
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India’s tourism arrivals double than world average NEW DELHI, Oct 29: Thanks to the ‘incredible India’ campaign, the country’s tourism has surged 26 per cent in the first eight months of the year, more than double the international average, the World Trade Organisation (WTO) has said. In its October issue of the world tourism barometer, WTO said India has been posting "excellent" growth in tourism due to increased promotion and product development and an upsurge in business travel driven by the country’s rapid economic development. In south Asia, arrivals grew by 23 per cent on an already double-digit 2003, while worldwide, the number of international tourist arrivals was up 12 per cent in January-August compared to the year-ago period. After an already significant increase of 13 per cent in the first four months of 2004, worldwide international arrivals grew by an estimated 23 per cent in May, by 12 per cent in June, by 10 per cent in July and by 6 per cent in August, the report said. According to projections based on this data, in the peak month of August, the number of Worldwide International Tourist Arrivals topped the 90 million mark for the first time. For the entire eight-month period from January to August, the number of International Tourist Arrivals is estimated to have reached around 526 million, corresponding to an increase of some 58 million arrivals ("12 per cent) compared to the same period of 2003. "This leap is of course, first of all, a reaction to last year’s depressed figures due to the Iraq war, SARS and the weak economy. Nevertheless, compared to the corresponding months of the previous record year 2002, the gain is still 41 million arrivals ("9 per cent)," WTO said. According to WTO Secretary-General Francesco Frangialli, "tourism has recovered strongly in 2004, in particular in Asia and the Pacific and in the Americas, and is again in an ascendant curve. The fear factor has clearly faded away and travel confidence is back." Asia and the Pacific led all regions with an exceptional increase of 37 per cent in the first eight months of the year, while North America returned to positive figures ("12 per cent) after more than three years of losses. "Even though many threats remain, we see that they have far less impact on tourism than before. The world economy is performing well, notwithstanding concerns about the volatility of oil prices," Mr Frangialli said. He said destinations in Asia and the Pacific had bounced back stunningly from the losses suffered in 2003 due to SARS. Intra-regional demand was strong, fuelled by the rapidly growing Chinese outbound market but also by the renewed strength of the Japanese market, which saw an increase in departures of 31 per cent up to August 2004 and was positive for the first time in this period since 2001. China has already surpassed Japan in 2003 in the number of outbound travellers, becoming the main Asian generating market, with a total of 20.2 million trips abroad. In China, which recorded an increase of 32 per cent in international tourist arrivals up to August, Intra-Regional Traffic picked up while long-haul arrivals from Europe and Americas were steadily recovering. (UNI) |
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Rupee surges further against USD in early trade MUMBAI, Oct 29: The rupee continued to surge against the US currency early today on the back of sustained heavy foreign portfolio investment inflows, with sentiments upbeat due to sliding oil prices despite the possibility of the usual month-end pressures. Hitting a new four and half month peak at 45.47/48 per dollar in late morning deals, the rupee is poised for further gains even as the customary month-end dollar demand could contain the sharp rise, a forex dealer said. The rupee opened distinctly firm at 45.50/51 per dollar, reflecting the dollar global weakness. The rupee gained a whopping nine paise yesterday and closed at 45.54/55 per dollar, driven by robust trade and foreign fund inflows. Oil prices tumbled to below 52 dollar a barrel and was quoted at USD 50.80 a barrel at the nymex in early Asian trade after hitting a record high of USD 55.67 on Monday. In cross currency trades, the euro was quoted at Rs 57.99/58.01 02, pound sterling at Rs 83.31/33 and the Japanese yen (100) Rs 42.85/87. (PTI) |
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Iran aims to sign China LNG deal within a year BEIJING, Oct 29: Iran aims to conclude a Liquefied Natural Gas (LNG) deal with China within a year to supply an initial 10 million tonnes annually, the Iranian Oil Minister said on Friday. Bijan Zanganeh told reporters that Iran was talking to Chinese state oil companies, including China National Petroleum Corp, parent of the country’s top oil producer petrochina, sinopec corp and Zhuhai Zhenrong corp. Zanganeh also said iran is interested in investing in China’s LNG receiving terminals. Iran has plans to build three LNG export projects, which will supply a total of 32 million tonnes per year, mainly to customers in Asia and Europe. "We aim to invest in the whole LNG chain," he said. But he declined to give a timeframe when China would start importing LNG from Iran state oil trader Zhuhai Zhenrong signed a preliminary deal in March to import more than 110 million tonnes of LNG from Iran over 25 years for 20 billion, Chinese media has reported. (AGENCIES) CAG for strict financial discipline in treasuries PATNA, Oct 28: The Comptroller and Auditor General of India V N Kaul today stressed the need for enforcing strict financial discipline, modernisation of the treasuries and the office of the accountant general here to effectively curb financial irregularities in Bihar. "Strict financial discipline, modernisation of treasuries and computerisation of the office of the Accountant General will considerably check financial irregularities being reported from time to time," he told reporters at Raj Bhavan. Kaul said it was also required that the directive of the AG and the Government’s orders on financial matters be strictly complied with. The CAG said he had given some guidelines to the State Chief Secretary K A H Subramanian for making available accounts of income and expenditure to the accountant general’s office on time. He had also asked the Government to take immediate steps for modernisation and computerisation of treasuries and streamline the compliance of the recommendation of the AG. He later called on Chief Minister Rabri Devi at her official residence to review the financial condition of the state. Top state officials, including the Chief Secretary and Finance Secretary, the Principal Accountant General and Accountant General (Bihar) attended the meeting. Kaul, who arrived here yesterday on a two-day official visit to the state, also reviewed the audit and accounts of the Bihar Govrnment. He held a high-level meeting with the officials of the AG office here and discussed the issues concerning audit and accounts of the State Government. (PTI) |
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