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Britain's Tesco halts LONDON, Nov 25: Britain's Tesco Plc has halted talks with Indian conglomerate Bharti Enterprises Ltd, clearing the way for the world's biggest .........more Clay to provide international Sim cards to business delegates NEW DELHI, Nov 25: Clay International Telecom Services, a phone rental specialist, will provide international Sim cards and mobile phones in 30 .......more Sugar
slips on NEW DELHI, Nov 25: The downslide in sugar prices continued on the wholesale sugar market here today following poor offtake by stockist and ......more Gur
closes quiet in NEW DELHI, Nov 25: Steady conditions developed on the wholesale gur (jaggery) market with prices by and large after hovering in a tight range on . ........more |
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Southern region freights NEW DELHI, Nov 25: Freight rates for the nine metric tonne pay load section for southern region witnessing a firm tendency on the local truck transport .........more Futures
trading not RANCHI, Nov 25: Forward Market Commission Director Bharat Tripathi has dismissed any apprehension about commodity futures market in India ...........more Dry
dates finish higher NEW DELHI, Nov 25: Prices of dry dates firmed up in the wholesale dry fruit market today following an upsurge in demand coupled with firm outside market advices. ......more NEW DELHI, Nov 25: In restricted activity, prices of mace-red and yellow drifted in the wholesale kirana market today on emergence of stockists ..........more |
Britain's Tesco halts talks to enter Indian market LONDON, Nov 25: Britain's Tesco Plc has halted talks with Indian conglomerate Bharti Enterprises Ltd, clearing the way for the world's biggest retailer, Wal-Mart, to clinch a deal giving it access to the lucrative Indian retail market. A Tesco spokesman declined on Friday to say why Britain's largest retailer ended negotiations to form a joint venture with Bharti, but said it still planned to enter the Indian retail sector. ''We have decided not to progress talks with Bharti over a possible joint venture in India,'' the Tesco spokesman said. ''We remain excited by the opportunities available in India and continue actively to review how best we might enter the market. As this work progresses, we will be in a better position to give more detail.'' Bharti Chairman Sunil Mittal told Reuters in an e-mail that a partnership would be finalised soon, but refused to say who it would be with. Mittal said last month that negotiations were down to Wal-Mart and Tesco. Wal-Mart Stores Inc. Did not immediately respond to requests for comment. Foreign retailers are keen to enter India's rapidly growing market, but multiple-brand retailers are only allowed to operate through franchises and licencees, or a cash-and-carry wholesale model, such as Germany's Metro AG and South Africa's Shoprite Holdings have chosen. According to consultancy Technopak Advisors, the Indian retail industry is currently worth about $300 billion and is expected to grow to $427 billion by 2010 and $637 billion by 2015, with the entry of large Indian companies, including Bharti, Reliance Industries Ltd and the Tata group. NEW MARKETS Tesco's main focus now will be to open stores in the United States in 2007, a move that, if successful, is expected to be a big driver of its future growth. The company has declined to comment on Polish newspaper reports this week that it is negotiating to purchase 200 retail stores in Poland from Dutch retailer Ahold NV. ''In our view, the key to unlocking the true value of Tesco is the international business,'' HSBC analysts wrote last month. Tesco, like Wal-Mart, is looking to expand to new markets to offset the possibility of future saturation at home and the collapse of talks with Bharti, which it was widely expected to win, is a setback. Yet, analysts said there was a still time to enter India while Tesco, which already operates in 12 countries, reiterated it would be able to achieve its plan to have 60 percent of its group space outside Britain by the end of year. India's Financial Express reported last weekend that Bharti and Wal-Mart had agreed a master franchise agreement that would include hypermarkets, supermarkets and grocery stores. The two would initially invest $100 million, going up to $1.46 billion, the paper said, quoting industry sources, but a spokesman for the Bharti group, which controls India's biggest mobile services provider, Bharti Airtel Ltd, said at that time no deal was completed. (AGENCIES) |
Clay to provide international Sim cards to business delegates NEW DELHI, Nov 25: Clay International Telecom Services, a phone rental specialist, will provide international Sim cards and mobile phones in 30 countries targeting delegates travelling abroad for business fairs and conferences. The company signed a contract with Confederation of Indian Industry (CII) on Thursday as its official international telecom service provider. It also has tie-ups with Indian service providers to endow such facilities to the delegates visiting India and vice-versa. "We have designed certain special processes to ensure a smooth and efficient delivery of the services to the delegates," said Clay Director Davendra Dhawan. The company is preparing to penetrate in the domestic market forecasting the requirements of the market. "Clay is spreading its feathers in all upcoming multinationals and corporates. We have most of our business associations with corporates rather than individuals. We are planning to dedicate a division to individual travelers, visualising the growing demands," Mr Dhawan said. Clay is renowned for providing international sim card to Indians travelling abroad. This service is best suggested for the regular travelers and students interested in foreign studies. It extends them facility to hire a local sim card for their country. The sim card is provided before departing from India. The most comfortable part is that the delegate or student pays the bill in Indian currency and the least of paper work is involved. Clay International Telecom Services provides local sim card for the country you are traveling to, alongwith the mobile phones on rent. The company has tie-ups with telecom service providers of 30 countries like the US, UK, Australia and Germany, etc. (UNI) |
Sugar slips on slackness in demand NEW DELHI, Nov 25: The downslide in sugar prices continued on the wholesale sugar market here today following poor offtake by stockist and retailers amid increased supply and closed lower. Marketmen said millers had to clear their alloted sugar quota by the month-end main pulled down the prices to some extent. Lower consumption of sugar due to winter session too had negative impact on sugar prices. At wholesale market, sugar ready, medium and second grade prices lost to settle at Rs.1780-1870 and Rs.1770-1860 a quintal respectively. Mill delivery medium and second grade prices also quoted lower at Rs.1600-1760 and Rs.1590-1650 a quintal respectively. Among mill gate section, sugar Modi Nagar, Daurala, Mawana and Simbhawali all decreased to finish at Rs.1730, Rs.1725, Rs.1725 and Rs.1740 a quintal respectively. Khatauli and Badaiu also remained low at Rs.1735 and Rs.1680 a quintal respectively. Following were today quotations in rs. Per quintal. Sugar ready M-30 1780-1870 and S-30 1770-1860. Mill delivery M-30 1600-1760 and S-30 1590-1750. Sugar mill gate prices (excluding duty): Modi Nagar 1730, Bagpat 1695, Daurala 1725, Chandpur 1675, Titabi 1730, Mawana 1725, Simbhawali 1740, Khatauli 1735, Badaiu 1680, Sattha 1665, Ruderavilash 1670, Bijnor 1650 and Amroha 1630 and Samali Rs 1770. (PTI) |
Gur closes quiet in thin trade NEW DELHI, Nov 25: Steady conditions developed on the wholesale gur (jaggery) market with prices by and large after hovering in a tight range on little doings and finished unchange. Marketmen said the demand and supply was almost at par, this kept the prices unaltered. Following were today's quotations: Chakku 1250-1300, Pedi 1250-1300 and Dhayya 1300-1350 Shakkar 1350-1400 and Khandsari 1850-1950. In Muzzafar Nagar: Raskat 900-950, chakku 1100-1200 and Khurpa new 1100-1125. In Murad Nagar: Pedi 1125-1150, Dhayya 1100-1175. (PTI) |
Southern region freights up on tight trucks position NEW DELHI, Nov 25: Freight rates for the nine metric tonne pay load section for southern region witnessing a firm tendency on the local truck transport market here today with tight availability of lorries against busy cargo movements. Transporters said the cargo movements were far better as compared to the trucks position, this caused the risings in some of the souther states freight rates. Delhi to Hyderabad, Vijaywada and Bangalore all went up to depict at Rs.19,000, Rs.21,000 and Rs.29,000 respectively. Pondicherry, Coimbatore, Kochi and Thiruvananthapuram also rose by Rs.1000 each at Rs.39,000, Rs.37,000, Rs.40,000 and Rs.43,000 respectively. Following were today’s freight rates per truck load of nine metric tonne: Ahmedabad 10,000 Hyderabad 19,000 Mumbai 17,000 Vijayawada 21,000 Baroda 10,000 Bangalore 29,000 Pune 18,000 Mysore 30,000 Surat 12,000 Pondicherry 39,000 Kanpur 8,000 Coimbatore 37,000 Kolkata 21,000 Chennai 34,000 Ludhiana 8,500 Kochi 40,000 Chandigarh 6,500 Thiruvananthapuram 43,000 Jaipur 4,000 Goa 20,000 Indore 11,000 Gwalior 6,000 Patna 17,000 Guwahati 36,000 (PTI) |
Futures trading not responsible for food grains price hike: FMC RANCHI, Nov 25: Forward Market Commission Director Bharat Tripathi has dismissed any apprehension about commodity futures market in India asserting that there is no relation between price hike of food grains and futures trading. Mr Tripathi, who was here to participate in an awarness programme organised by National Commodities and Derivatives Exchage Limited (NCDEX) last night told reporters here that "there was ‘misconception’ about futures trading and it should not be mixed with the price hike of food grains." To justiy his claim, Mr Tripathy referred to price hike in wheat. The price of wheat increased throughout the country but a meagre one per cent of the total wheat production was attached with the future trading, he said. The Commodity Futures Market, which witnessed remarkable growth in the past two years, he said has helped farmers, traders and businessmen to get profit. "Hope of getting proper rates to the farmers was maximum and they had the option of choosing profit-oriented crops, "he said. He said traders also had the option to control the rate of raw materials. He said in last fiscal business of about Rs 18 lakh crore was done through 21 regional commodities exchanges adding business of about Rs 18 lakh crore was done till September this year. He said the rates of food grains were being displayed by electronic ticket line in Gujrat and Maharashtra adding chief ministers and chief secretaries of other states had been requested to make similar arrangements in their states. (UNI) |
Dry dates finish higher on fresh demand NEW DELHI, Nov 25: Prices of dry dates firmed up in the wholesale dry fruit market today following an upsurge in demand coupled with firm outside market advices. The volume of business was moderate. Traders said increased buying by stockists to meet festive season demand mainly influenced the trading sentiments. Dry dates firmed by Rs 100 at Rs 2,200-4,600 per quintal. Following were today’s quotations per 40 kgs bag: Almond (California)new 10,400, Almond (gurbandi) 6,100 Almond (girdhi) 3,800, Almond kernel (california) 375-380, Almond kernel (gurbandi) (kg) 400-430 and Abjosh Afghani (PTI) |
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NEW DELHI, Nov 25: In restricted activity, prices of mace-red and yellow drifted in the wholesale kirana market today on emergence of stockists selling amid lower advices from producing centres, closed with moderate losses. Marketmen said fresh selling by stockists against increased arrival and weak producing region advices mainly pulled down mace-red and yellow prices. Mace-red and yellow eased by Rs 5 each to finish at Rs 470-480 each per kilo respectively. Following were today’s quotations (in Rs per quintal): Ajwain 4,000-6,500, black pepper golden Rs 10,400-10,500 Betelnut (kg) 95-110, cardamom brown (Jhundiwali) Rs. 12,000-12,300 cardamom brown (Kanchicut) Rs 13,500-17,000. Cardamom small (kg): Chitridar 170-280, cardamom (colour robin) 275-285, cardamom bold 300-310, cardamom extra (bold) 375-385 and cloves (kg) 250-290. Chirounji (new) (kg) 240-300 Dry mango 2,600-8,500 Dhania 3,500-6,000 Dry ginger 8,000-10,000 Kalaunji 8,000-9,500 Mace-Red (kg) 470-480 Mace-Yellow (kg) 470-480 Methiseed 2,600-4,000 Makhana (per kg) 115-150 Netmeg 230-240 Poppyseed (KG Turkey) 170 Poppseed (KG MP-RAJ) 165-205 Poppyseed (KG U.P.) 140-150 Red chillies 3,000-8,000 Soya bari pariwar (20 kg) 350-400 Saffron (kg) Irani 29,000-30,000 Saffron (kg) Kashmiri 37,000-43,000 Soanf 8,000-11,000 Turmeric 2,700-4,100 Tamarind 1,200-1,600 Tamarind without seed 3,000-4,000 Tea (kg) 70-120 Watermelon kernel 7,100-7,200 Jeera common 8,000-8,300 Jeera dollar 8,200-8,300 (PTI) |
Parliament Committee asks railways to prioritise projects NEW DELHI, Nov 25: Observing that inadequate funding to execute over 200 on-going projects has led to time-overrun resulting enormous cost escalation, a Parliamentarty Committee has asked the railways to review its priority fixation procedure for the projects in consultation with the Planning Commission. In its 23rd report presented to Parliament yesterday, the Standing Committee on Railways also suggested that the socially desirable projects may also be accorded due consideration while prioritising the projects. It also noted that the resources allocated to complete these projects were allowed to spread scarcely, which did not yield any tangible result. As on date, the railways’ shelf consists of more than 200 ongoing projects of new line, gauge conversion, doubling, electrification and metropolitan transport, the report said. These projects, majority of which are found to be non-viable having less than 14 per cent rate of return, have been assessed at more than 46,000 crore. The commercial viability, capacity augmentation and strategic consideration should also be kept in mind while fixing the priority of projects, the committee suggested. The Committee also noticed that although the Planning Commission has been consistently emphasising on reviewing the criteria of priority norms fixed in 1998, railways are not adhering to it. The Committee also noticed that although the Planning Commission has been consistently emphasising on reviewing the criteria of priority norms fixed in 1998, railways are not adhering to it. The Committee said the priority criteria adopted by the railways in November, 1998 did not adhere to the principles of capacity augmentation and completion of last mile projects in true sense. The standing committee was of the considered view that unless pragmatic approach towards the priority fixation is accorded, the desired results are not going to be achieved. Noting that the Railway Ministry was simultaneously implementing various funds/schemes like the Special Railway Safety Fund, Road Safety Fund, Corporate Safety Fund, Integrated Railway Modernisation Plan, Remote Area Rail Sampark Yojana and National Rail Vikas Yojana, the committee said so many schemes may cause confusion and lead to over lapping of aims and objectives. "Though the objectives of these schemes may be different but the overall aim is to ensure better capacity, safety, reliability and punctuality of trains", the Committee said. The Committee further apprehended that it may lead to overlapping of expenditure and was of the view that these ongoing schemes may be pooled together under an "integrated" scheme to ensure cost and time efficiency. (PTI) |
Zee Muzic’s B news! from Dec 1 MUMBAI, Nov 25: Zee muzic, the 24-hour music channel from Zee network, will present B news! from December 1 that is aimed at "showcasing uncaptured moments of Bollywood". Zee muzic business head Irshwin Balvani, in a press release here, said, "B news! is a revolutionary show on Indian television. It’s a show that will perhaps open doors to the paparazzi, a show which will showcase uncaptured moments of Bollywood, a show that will also delve into the underbelly of Bollywood, a show that will not only give you the glamour and glory of our stars, but also talk about their pain, their heartbreaks." It’s a show that will also show you the grime and the grit behind what’s known as the largest film industry in the world, he added. Nethra Raghuraman and Vikas Bhalla will host the show. The release claimed that B news! Will bring indepth news, views, features and a no-holds-barred style of reporting. (UNI) Prices rule steady in thin trade NEW DELHI, The wholesale pulses market closed on a steady note today as most of the prices moved in a narrow range on small alternate bouts of buying and selling and settled around previous levels. Traders said negligible enquiries against adequate stocks mainly kept prices steady. Following were today’s quotations (in quintal): Urad Maharashtra 3370-3570, Rangoon 3400-3425 Urad chilka (local) 4800-4900, best 5000-5200, dhoya local 5200-5300, best 5800-6100, Moong Maharashtra 2525-2575,Moong (old) 1800-1925, UP\Bihar 2800-3025, Rajasthan 3200-3300,dal moong chilka 4100-4300, best 4500-4800, moong dhoya local 4400-4500, best quality 4700-5000, masoor small 2400-2600, bold 1800-1850, dal masoor local 2250-2350, best quality 2450-2550, Malka local 2250-2350, best 2450-2650, Moth 2800-2900, Moth dagi 2750-2775, best 2650-2700, dal moth 3100-3250, Arhar Maharashtra 1975-2025, (Karnataka) 1975-2050, Rangoon 1900-1925, dal arhar dara 2850-2950 and patka 3050-3100. Gram 3000-3025, gram dal (local) 3350-3450, best quality 3550-3650, besin (35 kg) shakti bhog 1470, rajdhani 1470, Rajmah chitra Pune 4000-4400, China 4200-4300, red 3100-3200, kabli gram small 3350-3400, dabra 2780-2980, imported 4600-4700, lobia 3200-3350, peas white 1550-1600 and green 1550-1600. (PTI) |
Wheat, basmati strengthens on increased offtake NEW DELHI, Nov 25:There was no change in the pattern of trading on the wholesale grains market today as wheat and basmati common prices continued to rise on stockists buying against restricted arrivals and closed in positive zone. Traders said increased demand in view of ongoing marriage season against restricted arrivals mainly led to rise in wheat and basmati common prices. Wheat MP (deshi) gained Rs.5 at Rs.1630-1830 a quintal while wheat dara (for mills) quoted higher at Rs 1133-1135 a quintal on increased offtake by rolling flour mills. Rice basmati (common) also remained in demand among exporters and stockists and gained another Rs.50 at Rs.3400-3600 a quintal. Following were today’s quotations per quintal: Wheat MP (deshi) 1630-1830, wheat dara (for mills) 1133-1135, chakki atta (delivery) 1120-1125, Chakki atta Rajdhani (10 kgs) 150, shakti bhog (10 kgs) 150, roller flour mill 1120-1130, maida 1230-1240 (90 kilos) and sooji 1250-1260 (90 kgs). Rice basmati (lal quila) 4400, Shri Lal Mahal 4600, Basmati common 3400-3600, Permal raw new 1100-1150, old 900-930, permal wand 1260-1350, sela 1250-1400 and rice IR-8 1025-1050, Bajra 700-705, Jowar 740-750 (yellow), Maize 800-850 Barley (UP) 890-900 and Rajasthan 645-655. (PTI) |
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