Daily Excelsior...Business

Flying Cats Training
School holds workshop

Excelsior Correspondent

JAMMU, Mar 24: Flying Cats Airhostess Training School is conducting a free.....more

DUBAI, Mar 24: India's leading public sector bank, Bank of Baroda, has opened a wholesale branch in Bahrain, making the Gulf state the 25th country where it has international presence.....more

High density polymers improve on better offtake

NEW DELHI, Mar 24: High density polymer prices improved by a rupee per kg on the wholesale market here today on fresh offtake ........more

Hyundai Motor, Caparo
to make buses in India

SEOUL, Mar 24: South Korea’s Hyundai Motor Co <005380.KS> said on Monday it had agreed with UK-based Caparo Group’s Indian unit to produce and sell high-end buses in India, targeting the fast-growing commercial vehicle....more

BP may enter into
pact with Cals for
refinery at Kolkata

NEW DELHI, Mar 24: Global energy major BP Plc is likely to enter into a strategic tie-up with Cals Ltd, a Spice Energy holding company, for its .....more

Dal prices remain
quiet in thin trade

NEW DELHI, Mar 24: Steady trend prevailed in the wholesale pulses market here today as prices hovered in a narrow range on little bouts of trading to close at previous levels.,.....more

Wheat dara eases
on sluggish demand

NEW DELHI, Mar 24: Wheat dara prices today declined by Rs 10 a quintal on the wholesale grain market here due to lack of buying interest amid increased .....more

Sugar turns weak
on ample supply

NEW DELHI, Mar 24: Sugar prices today softened by Rs 10 per quintal on the wholesale market here due to ample supply from mills amid poor demand. ....more

Thymol falls on reduced offtake........

Dry dates declines on reduced demand.......

Tata-JLR deal to be complete within a few days, says report....

Parliamentary panel against taking Madrid trademark obligation........

Flying Cats Training School holds workshop

Excelsior Correspondent

JAMMU, Mar 24: Flying Cats Airhostess Training School is conducting a free workshop on personality development, career councelling and make over with a focus on grooming of job seekers.

The workshop which started on March 15, this yaer is being conducted by experts and trainers in the feild of communication, leadership skills and personality development. Narinder Kour, a faculty member appealed to the students to avail themselves of this opportunity.

She added that Avaition Industry, which is biggest booming industry has enough career opportunities in it and aspirants can make career as Airhostess, Stewart or in hotel industry.

She further stated that India is slowly inching towards becoming next boom industry in Aviation and Flying Cats is the only school in the sstate which has affliation with the Annamalai University.

There is no age limit set for the candidates and anyone holding matriculation certificate can participatre in the workshop, the press note added. The said workshop will continue till April 13, this year.

BoB restarts Bahrain operation

DUBAI, Mar 24: India's leading public sector bank, Bank of Baroda, has opened a wholesale branch in Bahrain, making the Gulf state the 25th country where it has international presence.

Bank of Baroda, the fifth largest bank in India, first established an offshore banking unit in Bahrain in 1980, which was closed in 1993 due to a forex crisis in India.

The new license, granted by the CBB, marks the return of Bank of Baroda to Bahrain.

Indian Ambassador Balkrishna Shetty opened the new branch along with Central Bank of Bahrain (CBB) Deputy Governor Dr Anwar Al Sadah in Manama yesterday.

"The CBB welcomes the return of Bank of Baroda to Bahrain. This reflects the bank's confidence in Bahrain and the resilience of our financial market," Sadah said.

The wholesale banking industry represents 80.5 per cent of the consolidated assets of Bahrain's banking system, which stood at USD 220 billion in August last year, an increase of 32 per cent over the same period in 2006. (PTI)

High density polymers improve on better offtake

NEW DELHI, Mar 24: High density polymer prices improved by a rupee per kg on the wholesale market here today on fresh offtake by helmet makers and other consuming industries against restricted supply.

However, low density and other polymer prices closed steady on small buying and selling spree.

Marketmen said increased inquiries from consuming industries against short supply edged up high density polymer prices.

Hd blowing moved up by a rupee to settle at Rs 85 a kilo on fresh buying interest. Hd moulding deshi also inched up by a rupee one to close at Rs 81 a kilo.

Hd moulding colour too showed a rise of a rupee at Rs 85 a kilo on reduced supply.

Following are today's quotations in Rs per kg:

LD No 40 - 91.00, LD No 400 - 90.00 LLDP blowing 83.00, colour 74.00 HD Blowing 82.00, HD moulding (deshi) 80.00, HD moulding (colour) 84.00, PP No 100 81.00, PP Colour 105, ABS (Indian) 97, acrylic 130-140, colour 139-144, crystal (Indian) 80, colour 90, poly carbonate 180-190, Nylon No-6 160, Nylon No 66 -181-191, PVC resin deshi 56.00, PVC pest grade 85. (PTI)

Hyundai Motor, Caparo to make buses in India

India’s commercial vehicle market stood at 290,000 units last year, including 5,000 premium buses. Hyundai, which said in February it was talking to Indian firms for a possible venture for commercial vehicles, expected the market for "luxury" buses, to be mainly used for tourism, to reach 10,000 units in 2010.

Under the agreement, Hyundai will provide parts and production technology for Aero buses while Caparo India will manufacture and sell the vehicles, Hyundai said in a statement.

Caparo India will build a plant in the southern Indian city Chennai, near Hyundai’s second plant in the country, to start production in early 2009. The companies expect Caparo’s plant to produce 5,100 units by 2013.

Hyundai Motor ranked second in the Indian passenger car market in 2007, trailing Maruti Suzuki India Ltd <MRTI.BO>. It aims to enter the top 10 rankings in the local commercial vehicle market by 2010.

Hyundai shares ended up 1.2 percent at 73,400 won before the announcement compared with a 0.6 percent rise in the broader market .

(AGENCIES)

BP may enter into pact with Cals for refinery at Kolkata

NEW DELHI, Mar 24: Global energy major BP Plc is likely to enter into a strategic tie-up with Cals Ltd, a Spice Energy holding company, for its proposed one billion dollar, five million tons oil refinery at Haldia near Kolkata.

BP may supply crude oil to the refinery which needs 2.5 million tons of heavy (high sulphur) crude and a similar supply of light (low sulphur) crude, a Cals Ltd press release said here.

Cals plans to export petrol and diesel produced in the Euro-4 complaint refinery and BP may sign an offtake agreement for these two products, it said. The refinery would also produce jet fuel, LPG and pet coke for the domestic market.

Cals Ltd plans to import a 90,000-barrel-per-day refinery from Bayernoil, Germany, which will be dismantled at Ingolstadt on the river Danube, Germany and shipped to Haldia for reconstruction. The refinery will become Bengal’s second largest oil refinery after the Indian Oil Corporation’s existing one in Haldia.

The company plans to commission the refinery by end 2009. Cals Ltd has hired UK refinery engineers KBC to upgrade the plant, to be able to refine lower-quality crude oil.

To fund the project, Cals Ltd raised 200 million dollars through issuing a global depository receipt on the Luxembourg Stock Exchange in November, attracting investments from Dubai Investment Group, part of Dubai Holding, and London’s RP Capital. It is now hoping to raise a further 100 to 200 million dollars from a strategic investor.

Cals Refineries’ has roped in former IOC chairman M S Ramachandran as the chairman of the board. Some senior managers from RPL and Essar have also joined the company in the run-up to the implementation of the project, the release said.

Cals Refineries has signed an MoU with the Haldia Development Authority and West Bengal Industries Development Corp to facilitate handing over of land and other incentives for the installation of the five-million tons a year refinery at Haldia.

The refinery is likely to be be expanded to 10 million tons by 2010-end and to 20 million tons by 2013.

Cals has already spent around Rs 360 crore on equipments, basic engineering and initial project enabling work. Site activities would commence by this April and shipments of equipment were expected to arrive at Haldia by this July onwards. (PTI)

Wheat dara eases on sluggish demand

NEW DELHI, Mar 24: Wheat dara prices today declined by Rs 10 a quintal on the wholesale grain market here due to lack of buying interest amid increased supply.

Marketmen said reduced offtake by rolling flour mills amid selling pressure from stockists pulled down wheat dara prices.

Wheat dara fell from Rs 1140-1145 to settle at Rs 1130-1135 a quintal on slackness in demand.

Chakki atta delivery pegged lower at Rs 1125-1132 from Rs 1140-1145 a 90 kilo bag.

Rollling flour mills prices eased to finish at Rs 1125 -1130 from Rs 1135-1142 a 90 kilo bag in line with general trend.

Following are today’s quotations per quintal (in Rs): wheat MP (deshi) 1350-1600, wheat dara (for mills) 1130-1135, chakki atta (delivery) 1125-1132, Chakki atta Rajdhani (10 kgs) 145, shakti bhog (10 kgs) 155, roller flour mill 1125-1130, maida 1215-1240 (90 kilos) and sooji 1240-1275 (90 kgs).

Rice basmati (lal quila) 7000, Shri Lal Mahal 7000, Basmati common 6700-7000, Permal raw 1450-1500, permal wand 1675-1725, sela 2200-2300 and rice IR-8 1300-1375, Bajra 650-675, Jowar yellow 675-700, white 1250-1300, Maize 800-825 Barley (UP) 1170-1185 and Rajasthan 1180-1185. (PTI)

Sugar turns weak on ample supply

NEW DELHI, Mar 24: Sugar prices today softened by Rs 10 per quintal on the wholesale market here due to ample supply from mills amid poor demand.

Marketmen said increased supply from mills against reduced offtake by stockists and bulk consumers pulled down sugar prices.

Sugar ready medium and second grade price dipped from Rs 1,630-1,700 and Rs 1,610-1,690 to settle at Rs 1,620-1,690 and Rs 1,600-1,680 a quintal respectively.

Mill delivery medium and second grade price also eased to settle at Rs 1,460-1,565 and Rs 1,450-1,560 instead of Rs 1,470-1,575 and Rs 1,460-1,570 a quintal respectively.

In mill gate section, khatauli, Simbhawali, Bijor and Amroha were traded lower at Rs 1,615, Rs 1,590, Rs 1,505 and Rs 1,500 a quintal.

Following are today quotations per quintal:

Sugar ready M-30 1620-1690 and S-30 1600-1680.

Mill delivery M-30 1460-1565 and S-30 1450-1560.

Sugar mill gate prices (excluding duty): Modi Nagar 1520,Bagpat 1455, Daurala 1545, Chandpur 1370, Titabi 1600, Mawana 1570, Simbhawali 1590 Khatauli 1605, Badaiun 1370, Sattha 1355, Ruderavilash 1375, Bijnor 1505, Amroha 1500 and Samali Rs 1560. (PTI)

Thymol falls on reduced offtake

NEW DELHI, Mar 24: Thymol prices today fell by Rs 10 a kg to close at Rs 390 per kg on the wholesale chemical market due to reduced industrial offtake.

Traders said adequate stocks position against reduced demand brought down thymol prices.

However, prices of other chemicals ruled steady on scattered deals.

Following are today's quotations:

Ammonia bicarb (25 kg) 345 Ammonium chloride (50 kg) 1,800, acetic acid (1 kg) 42, boric acid technical (50 kg) 4,100-4,600, borex granular (50 kg) 2050 Caustic soda flake (50 kg) 1185 citric acid (50 kg) (China) 2,650-2,800, citric acid deshi (50 kg) 2,600-2800, camphor slab (1 kg) 170-175, camphor powder (1 kg) 150, glycerine (1 kg) 78-80, hexamine (1 kg) 82, hydrogen peroxide (1 kg) 31-32, mercury (34.5 kg) 28,600, menthol bold crystal (per kg) 605 menthol flake (1 kg) 585 and Mentha oil (1 kg) 505.

Paraffin wax ( 1 kg)Iran 65

paraffin wax ( 1 kg)China 72

paraffin wax ( 1 kg) Indian 67

residue wax (p tonne) 34,000

soda ash (50 kg) (Tata) 880

soda ash (50 kg) (Gujarat) 870

soda ash (50 kg) (Dcw) 870

soda ash (50 kg) (Birla) 870

Sodium Nitrite (50 kg) 1400-1550

Sodium silicate (Qtl) 950-1100

stable bleaching powder (shriram) (25 kg) 310 stable bleaching powder (chambal) 330

stable bleaching powder (modi) 310

tartaric acid france (1 kg) 421

thymol (1 kg) 390

titanium dioxide (ttk) (1 kg) 98

titanium dioxide (k-brand) (1 kg) 89

titanium dioxide (china) (1 kg) 89

titanium dioxide (TR-92) 108

titanium dioxide (rc-822) (1 kg) 108

oxalic acid (pcpl-red) 50 kg 2500

oxalic acid (pcpl-blue)50 kg 2500

Zinc oxide (kg) 122-135. (PTI)

Dry dates declines on reduced demand

NEW DELHI, Mar 24: Dry dates dipped by Rs 100 per quintal to close at Rs 2,200-7,000 a quintal on the wholesale dry fruit market today on sluggish demand amid fresh arrival from southern regions.

Marketmen said fall in demand from retailers and lower advices from producing regions brought down the prices.

However, prices of other commodities moved in a narrow range on alternate bouts of trading and settled at previous levels.

Following are today's quotations per 40 kg bag: Almond (California) new 8,500 Almond (gurbandi) 5,000 Almond (girdhi) 3,150, Almond kernel (California) 297-298 Almond kernel (gurbandi) (kg) 280-325 and Abjosh Afghani 6,000-13,000. Chilgoza raw-new (1 kg) 380, chilgoza (roasted) (1 kg) 750, cashew kernel 1 kg (no 180) 425-430, cashew kernel (no 210) 380-385, cashew kernel no.(240) 315-320, cashew kernel (no 320) 275-280, cashew kernel broken 2 pieces 235-240, cashew kernel broken 4 pieces 205-235, cashew kernel broken 8 pieces 180-210, copra (qtl) 4,900-5,000, coconut powder (25 kg) 1,100-2,000, dry dates red (qtl) 2,200-7,000, fig 3,500-12,000, kishmish kandhari local 5,300-6,000, kishmish kandhari special 11,000-14,000, kiahmish indian yellow 2500-2800, kishmish indian green 2,800-3,800, pistachio Irani 480-510, pistachio Hairati 480-520, pistachio Peshawari 510-555, pistachio dodi (roasted) 340-350, walnut new 110-200, walnut kernel new (1kg) 350-500. (PTI)

Tata-JLR deal to be complete within a few days, says report

LONDON, Mar 24: Indian conglomerate Tata and US car maker Ford are expected to complete the deal of the latter’s luxury brands Jaguar and Land Rover within a few days, a media report said today.

According to The Guardian newspaper, Ford is expected to complete the sale of Jaguar and Land Rover to Tata "within a few days."

"The two sides are understood to be keen to complete the deal in time to meet Ford’s previous indications that the disposal would take place early in 2008," the newspaper said in an article published in its online edition.

Further, it noted that "neither side has put a price on the marques."

"Initial estimates suggested that Ford would expect to receive between 1.3 billion dollars (660 million pounds) and 1.5 billion dollars, though the recent success of Land Rover, on the back of new model launches, may have pushed the price tag closer to two billion dollars," the report said.

Quoting industry sources, the report pointed out that a complex set of supply agreements that form part of the deal has prolonged the negotiations.

In January, Ford had named Tata as the preferred bidder for its British brands Jaguar and Land Rover. (PTI)

Parliamentary panel against taking Madrid trademark obligation

NEW DELHI, Mar 24: A Parliamentary panel has asked the Government not to take the Madrid Protocol obligation for clearing a trade mark application within 18 months of filing till requisite infrastructure is built.

"The Government should not accede to the Madrid Protocol, till the Trade Marks Registry is equipped with adequate, skilled manpower and requisite infrastructure and enabled to handle the pressure of dealing with trade mark applications, both domestic and international, within a period of 18 months," the Parliamentary Standing Committee on Commerce has said.

The committee has given its observations on a bill which was referred to it for amending the Trade Marks Act, 1999 for facilitating Indians as well foreign nationals to secure simultaneous protection of trade marks throughout the world.

India wants to join the Madrid Protocol of 1989, administered by the International Bureau of the World Intellectual Property Organisation (WIPO)-- a specialised agency of the United Nations.

The protocol enables the nationals of member countries to obtain protection of trade marks within the prescribed period of 18 months by filing a single application with one fee and in one language.

However, accession to the Madrid Protocol will entail amendments to the Trade Marks Act. The bill for amending the law was introduced in Lok Sabha in August last year and was referred to the standing committee.

The committee said the Trade Marks Registry in the country is not adequately equipped to cope with the mandate of issuing certificates of registration within the stipulated period due to constrains of manpower and infrastructure. (PTI)