Big 92.7 FM introduces
new programmes

Excelsior Correspondent

JAMMU, Apr 14: Aiming at providing better entertainment to its listners, the "Big 92.7 FM" is ....more

ALOHA India launches
Jammu centre

Excelsior Correspondent

JAMMU, Apr 14: ALOHA India, international abacus and .....more

HPL urges Centre
to withdraw naphtha
import duty

KOLKATA, Apr 14: Haldia Petrochemicals Ltd (HPL) has urged the Union Finance Ministry to withdraw the five per cent import duty on naphtha levied .......more

Railways goes shopping for
hi-tech security systems

NEW DELHI, Apr 14: With the threat of terror looming large, Railways is gearing up for installing hi-tech integrated security systems at about 185 stations identified as security sensitive across the country.....more

Tata Communications
expands VPN services
to Egypt

MUMBAI, Apr 14: Telecom firm Tata Communications today said it has signed a partnership agreement with TE Data SAE for ....more

Stainless steel supply
sufficient: ISSDA

NEW DELHI, Apr 14: Amid concerns that the Government may curb exports to contain rising inflation, stainless steel makers ......more

ArcelorMittal to submit land
feasibility report by June

RANCHI, Apr 14: ArcelorMittal, the world’s largest steel maker, will in the next two months take the first step for putting up a 12 mtpa plant in Jharkhand by submitting a Land Feasibility Report to ....more

Jet launches flights to
Hong Kong

MUMBAI, Apr 14: Naresh Goyal-owned Jet Airways has launched its first flight for Hong Kong from Chhatrapati Shivaji International Airport (CSIA) here today.Jet Airways is the first private ....more

     
     

RIL in talks with BG, Chevron, Exxon for stake sale

HPL urges Centre to withdraw naphtha import duty...........

Yes Bank plans QIP to raise USD 300 mn by Dec.........

FIIs three-times more bullish than promoters on Indian stocks.....

Big 92.7 FM introduces new programmes

Excelsior Correspondent

JAMMU, Apr 14: Aiming at providing better entertainment to its listners, the "Big 92.7 FM" is introducing several new and innovative programmes like, U, Me aur Hum, 507-Bombay Express and Good Morning Jammu besides various other utility programmes.

This was disclosed by Cluster Head, Big 92.7 FM-J&K, Jagmeet Singh Bahri in a press conference here this morning. While introducing a new Radio Jockey, Ranjana, Mr Bahri revealed that the former will host the new show, U, Me aur Hum from 10 am to 12 pm and 507-Bombay Express from 5 pm to 7pm from Monday to Saturday. He said that Ranjana will also host the show, Good Morning Jammu on Sunday from 9 am till 12 pm.

Shifting its focus from just entertainment, Mr Bahri said that they have designed utilities such as Traffic and weather updates alsong with time checks and health tips.

"On weekends the joyrides will start at 6 am with "Sehar" by RJ Seema Rajput followed by "Big Chai" from 7 to 10 am. U, Me aur Hum-a show for women would be relayed from 10 am to 12 pm followed by Radio Rehri from 12 to 2 pm and then Fultoo Filmi from 7 pm to 10 pm. It would be followed by Yaadein," he revealed.

While speaking he also promised to entertain listners with shows like Jammu Idol, Rangla Guggar and Big Party Mix. "We are thankful to the people for their support and encouragement and ensure to keep on entertaining people" said Mr Bahri.

 

ALOHA India launches Jammu centre

Excelsior Correspondent

JAMMU, Apr 14: ALOHA India, international abacus and mental arithmetic training institution, opened its Jammu branch at Trikuta Nagar Extension in a function.

MLA Habbakadal, Raman Mattoo was the chief guest during the inaugural ceremony. Children along with their parents were also present on the occasion.

ALOHA (Abacus Learning of Higher Arithmetic) concept was launched by Loh Mun Sung in Malaysia in the year 1993 teaching mental arithmetic to children through an abacus.

With over 275 centres across the country and around three lakh students on the roll, the institution is shortly opening its more centres in the State.

HPL urges Centre to withdraw naphtha import duty

KOLKATA, Apr 14: Haldia Petrochemicals Ltd (HPL) has urged the Union Finance Ministry to withdraw the five per cent import duty on naphtha levied in the Budget this year.

HPL was the only petrochemicals firm in the country which would be directly affected by the imposition of the levy, sources in the company said.

Other companies like GAIL and Reliance would not be affected as the former used gas cracker technology and the latter has its own source of naphtha supply.

HPL sources said the company had already made several representations to the Finance Ministry through industry bodies like the CII and also through the West Bengal government.

"We are hopeful that the Finance Ministry will take a positive view," they said.

The sources, however, said if the duty was not withdrawn then HPL would face a ‘very bleak future’ since it was in the process of expansion which would require more naphtha.

More than 90 per cent of HPL’s naphtha requirement was sourced from imports and the balance from domestic sources.

Within a span of one year, naphtha prices had shot up from 625 dollar per tonne to 894 dollar per tonne, reflecting a rise of 43 per cent.

According to the sources, the company would be able to retain sales turnover during 2007-08 at the same level of 2006-07. However, profitability would take a serious dip due to the abnormal rise in naphtha prices.

Meanwhile, HPL is heading for a complete shutdown from October 15 for implementation of project Supermax.

Sources said the plant shutdown would last for 75 days, following which it would again resume operations on a greater scale.

The Supermax project envisaged expansion of naphtha cracking facility from 520 kilo tonnes per annum to 675 kilo tonnes per annum, involving a capital expenditure of Rs 840 crore.

The expenses were to be funded from debt and internal accruals, sources said.

HPL was also mulling to diversify into other polymer products as well. (PTI)

Railways goes shopping for hi-tech security systems

NEW DELHI, Apr 14: With the threat of terror looming large, Railways is gearing up for installing hi-tech integrated security systems at about 185 stations identified as security sensitive across the country.

"We are acquiring sophisticated equipment including closed circuit televisions (CCTV), personal and baggage screening system and explosive detection and disposal facility at certain stations identified as sensitive," a railway official said.

Railways would also be acquiring electronic access control system from firms dealing with state-of-the-art security system.

Railways had invited bids for the purchase of these sophisticated equipment and more than 40 companies, including some international ones, have shown interest in providing the equipment, said the official.

"They have submitted the expression of interest and we have formed a committee to examine their offer. The shortlisted companies would make their presentations before the committee and accordingly a decision would be taken," said the official.

To a question whether the railways would opt for public private participation (PPP) model in the integrated security system, the official said the modalities are being worked and no decision is being taken on the issue yet.

The 185 stations identified as security sensitive also include 17 metro railway stations across the country.

Recently a high-powered committee comprising senior officials from IB, NSG, RPF, CRPF, CISF and railways submitted a composite security plan for railways.

The report has suggested various measures including installation of high-tech security gizmos at sensitive stations to strengthen security.

Though there are a few door frame metal detectors and hand held metal detectors at certain stations, we are acquiring more such machines to be installed at many other stations identified as sensitive, said the official.

As per the plan, the entry and and exit points will be monitored and unauthorised entry will be curtailed.

About the CCTVs, the official said the aim is to acquire a sophisticated surveillance system with minimum 30 days of recording facility and inbuilt intelligent software.

Keeping the rush at stations in mind, we want to have a system compatible with it, he said.

"We will also set up modern control rooms to monitor the system," said the official, adding the staff would be trained to handle these modern gadgets. (PTI)

 

Tata Communications expands VPN services to Egypt

MUMBAI, Apr 14: Telecom firm Tata Communications today said it has signed a partnership agreement with TE Data SAE for expanding its global VPN services to Egypt.

"Tata Communications’ partnership agreement with TE Data will link customers in Egypt with the rest of the world via our rapidly growing network," Tata Communications Managing Director MENA (Middle East and North Africa) Radwan Moussalli said.

TE Data SAE is a subsidiary of Telecom Egypt and is a leading P-based data communications carrier.

Both the companies have interconnected their respective infrastructures, thus setting up multiple, network-to-network interconnection (NNI) points that would connect Tata Communications’ European and Indian network hubs with TE Data’s facilities in Egypt, the company said.

"Africa and the Middle East are markets that are undergoing significant growth, and we plan on continuing to expand the relationship as part of a growing cooperation between Tata Communications and TE Data," Moussalli added.

Tata Communications already offers its MPLS services in almost 40 countries and expects to reach over 50 by the end of 2008, the company said in a filing to the BSE.

"We are pleased to partner with Tata Communications to provide our customers with high-quality IP VPN solutions. The integration will provide superior connectivity to India and to the world," TE Data Vice Chairman and Managing Director Emad Alazhary said.

VPN services enable companies to provide broadband applications with a wide range of value added services.

The agreement would enable Tata Communications’ VPN customers to benefit from superior connectivity to and from Egypt while experiencing the same security, redundancy and quality of service offered on the Tata Communications network. (PTI)

Stainless steel supply sufficient: ISSDA

NEW DELHI, Apr 14: Amid concerns that the Government may curb exports to contain rising inflation, stainless steel makers today said there is no dearth of the commodity in India and as such they should not be treated at par with carbon steel industry which is facing flak for raising prices.

"In view of major concern of the government about spiraling inflation and rising steel prices, stainless steel should be examined in exclusive separation in terms of its supply and demand in the country," Indian Stainless Steel Development Association (ISSDA) President N C Mathur said in a letter to Finance Minister P Chidambaram.

"There has neither been a short supply nor any major change in prices over the last few months, much in contrast to the carbon steel industry products used in construction and automotive sector," he pointed out.

ISSDA's letter assumes importance as Steel Minister Ram Vilas Paswan has recommended curbing exports of finished steel besides hiking duty on iron ore export, the issues which will top the agenda of the meeting of the Cabinet Committee on Prices (CCP) likely to be held this week.

"We have recommended a ban on exports of finished steel products completely. This recommendation has gone from my Ministry to the government," Paswan had said.

Pointing out that nearly 30 per cent of stainless steel is exported from India after meeting domestic demand, Mathur reminded that Indian stainless steel producers had increased prices in May last year owing to record-breaking high cost of nickel, but following reduction and stabilisation of nickel prices they reduced prices and passed it on to consumers. (PTI)

ArcelorMittal to submit land feasibility report by June

RANCHI, Apr 14: ArcelorMittal, the world’s largest steel maker, will in the next two months take the first step for putting up a 12 mtpa plant in Jharkhand by submitting a Land Feasibility Report to the State Government.

The company, which is looking at starting production latest by 2012, will follow it up with the submission of Detailed Project Report.

"We have set a timeframe for production of steel by the end of 2011 or early 2012," ArcelorMittal Chief Technology Officer Pierre Gugliermina told PTI.

"The Land Feasibility Report would be submitted to the Jharkhand government by June whereas the Detailed Project Report by the end of this year," he said.

He said the company is willing to commence work on the plant as soon as the required land, iron ore and coal mines were allocated by the state government.

Gugliermina is heading the 22-member high-level team formed to finalise the technology to be adopted for the proposed projects in Orissa and Jharkhand.

The company has made it clear that it will require 600 million metric tons of iron ore for its mega plant in the state and was keen on securing ore from the Chiria mines, whose ownership is being battled out by SAIL and the state government in Jharkhand High Court.

Gugliermina, along with ArcelorMittal India CEO Sanak Mishra, toured Torpa-Tamdara, the site for the company’s mega steel project in the Khunti district and said the area was chosen to minimise logistic cost.

Pointing out that the company would require about 12,000 acre of land for the greenfield steel plant along with a township and a power plant, the CTO said that ArcelorMittal was averse to acquiring it in bits and pieces. (PTI)

Jet launches flights to Hong Kong

MUMBAI, Apr 14: Naresh Goyal-owned Jet Airways has launched its first flight for Hong Kong from Chhatrapati Shivaji International Airport (CSIA) here today.

Jet Airways is the first private carrier to have started a service to Hong Kong from India.

"We see it as a strategic market and having strong prospects too. Hong Kong is also the Gateway to China, so we are very optimistic about picking up international traffic on this route," the airline’s Chief Executive Officer Wolfgang Prock-Schauer said at the launch.

Prock-Schauer said he was expecting 1.10 lakh passengers on the Mumbai-Hong Hong route and the same number from the proposed Delhi-Hong Kong flight over a period of time.

The airline has deployed its state-of-the-art Airbus 330-200 on this newly introduced international route, with premier and economy class.

Hong Kong becomes the airline’s 16th international destinations, with ten destinations launched in the last nine months alone.

It has plans to expand its international operations to cities across North America, Europe, Africa and Asia.

Jet Airways is aiming for a 50 per cent contribution from its overseas operations towards its total revenues in the next two to three year period. (PTI)

RIL in talks with BG, Chevron, Exxon for stake sale

NEW DELHI, Apr 14: Reliance Industries is in talks with global energy majors, including British Gas of the UK, Chevron Corp of the US, Exxon and Shell for a possible stake sale in its Krishna-Godavari basin gas fields.

RIL is looking for a strategic partner for its KG-D6 gas block to get deep sea exploration technology, industry sources said.

India's corporate conglomerate has mandated Goldman Sachs for its possible stake sale that may happen after the block, that contains over 50 trillion Cubic feet of gas reserve, is hived off into a special purpose vehicle.

The percentage of stake to be divested has not been firmed up and may depend on the value that the strategic partner was bringing in.

Sources said at least five companies, including BG, Chevron Corp, Exxon, Shell and ENI of Italy has visited the data room set up in New York.

Total of France, BG of UK and Petrobras of Brazil are also believed to be interested in Reliance's block that is to begin gas production from third quarter this calender year. (PTI)

HPL urges Centre to withdraw naphtha import duty

KOLKATA, Apr 14: Haldia Petrochemicals Ltd (HPL) has urged the Union Finance Ministry to withdraw the five per cent import duty on naphtha levied in the Budget this year.

HPL was the only petrochemicals firm in the country which would be directly affected by the imposition of the levy, sources in the company said.

Other companies like GAIL and Reliance would not be affected as the former used gas cracker technology and the latter has its own source of naphtha supply.

HPL sources said the company had already made several representations to the Finance Ministry through industry bodies like the CII and also through the West Bengal government.

"We are hopeful that the Finance Ministry will take a positive view," they said.

The sources, however, said if the duty was not withdrawn then HPL would face a ‘very bleak future’ since it was in the process of expansion which would require more naphtha.

More than 90 per cent of HPL’s naphtha requirement was sourced from imports and the balance from domestic sources.

Within a span of one year, naphtha prices had shot up from 625 dollar per tonne to 894 dollar per tonne, reflecting a rise of 43 per cent.

According to the sources, the company would be able to retain sales turnover during 2007-08 at the same level of 2006-07. However, profitability would take a serious dip due to the abnormal rise in naphtha prices.

Meanwhile, HPL is heading for a complete shutdown from October 15 for implementation of project Supermax.

Sources said the plant shutdown would last for 75 days, following which it would again resume operations on a greater scale.

The Supermax project envisaged expansion of naphtha cracking facility from 520 kilo tonnes per annum to 675 kilo tonnes per annum, involving a capital expenditure of Rs 840 crore.

The expenses were to be funded from debt and internal accruals, sources said.

HPL was also mulling to diversify into other polymer products as well. (PTI).

Yes Bank plans QIP to raise USD 300 mn by Dec

MUMBAI, Apr 14: New-generation lender Yes Bank plans to raise 300 million dollars (about Rs 1,200 crore) by December as a part of its expansion plans.

"We will be raising around 150 million dollars each in our Tier-I and Tier-II structures. This exercise should be completed by December," Yes Bank's Managing Director and CEO Rana Kapoor said here.

While all options are being considered, it is understood that the private bank is zeroing in on the QIP route to raise these funds.

Yes Bank is currently fine-tuning its expansion plans over the next 1-2 year period, aimed at solidifying its position in the domestic market.

"By September 2010, we are aiming for a 250-strong branch network," Kapoor said.

At present, the bank has 67 branches across the country.

The lender proposes to launch its asset reconstruction company in the next few months and plans to enter the retail broking and asset management businesses over the next 18-24 months.

Yes Bank has posted a Rs 64.5-crore net profit for the quarter-ended March 31, 2008. Its total income grew to Rs 494.3 crore from Rs 281.1 crore in the year-ago period. (PTI)

FIIs three-times more bullish than
promoters on Indian stocks

MUMBAI, Apr 14: It is the 'heavy selling' by FIIs being blamed squarely for meltdown at Dalal Street, but if their market activity patterns are to be believed, overseas investors seem to be over three times more confident than India Inc itself regarding the market's future growth.

According to an analysis of the changes in the listed companies' shareholding patterns since the beginning of this year, the number of companies where foreign institutional investors have raised their holding is bigger than that of those where FII holdings have gone down.

In contrast, the promoters have cut down their holdings in more number of companies as compared to those where they have raised their stakes during the same period.

The data shows that among all the firms having disclosed their latest shareholding pattern as on end of January-March quarter, at least one in three firms have seen an increase in its FII holding. In comparison, only about one in nine has seen its promoters raising their shareholding in the company.

However, indicating a relatively less bullish stand on large-cap companies, the overseas investors have mostly cut down their exposure to the firms with high market values while accumulating more shares in those with lesser valuations.

So far, close to 900 companies have released their shareholding patterns as on March 31, 2008. Out of these, the FIIs have raised their shareholding in as many as 320 companies, while promoter holding has increased in just 117 companies from the levels as on the end of 2007.

Those companies where FIIs have cut down their holdings, include HDFC, ICICI Bank, HDFC Bank, IVRCL Infra, Spice Communications, United Phosphorus, Dr Reddy's Labs, DCB, Axis Bank, Tata Motors, HCL Infosystems and J&K Bank. (PTI)



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