MUMBAI, Aug 5: LED lightings major NTL Lemnis today appointed Manoj Verma as its global president and director.
Prior to this appointment, Verma was chief executive of CK Birla Group company Orient Electricals.
He will join the board of NTL Lemnis, which is a joint venture between NTL Electronics India and Lemnis Lighting of the Netherlands.
The company designs, manufactures and sells energy efficient LED lighting solutions for domestic as well as global markets.
Verma had also been associated with Philips for 17 years and then with GE Lighting India, Osram India and Crompton Greaves. (PTI)
NTL Lemnis appoints Manoj Verma as global president
Govt to sell part stake in SAIL, RINL, HAL in FY15
NEW DELHI, Aug 5: The government is looking to sell 5 per cent stake in SAIL and 10 per cent each in RINL and HAL in the current fiscal, besides an outright sale of Tyre Corporation of India.
The disinvestment of 10 per cent through an initial public offer (IPO) in Rashtriya Ispat Nigam Ltd (RINL) is “tentatively scheduled for completion in the current financial year”, Finance Minister Arun Jaitley said in a written reply in the Lok Sabha.
He further said that 5 per cent stake sale in SAIL is also scheduled for completion this fiscal.
In a separate reply, Minister of State for Finance Nirmala Sitharaman said that government considers outright sale of a CPSE only when all efforts to revive that loss making or sick CPSE fails.
“The department of disinvestment is presently engaged in disinvestment of only one such CPSE, namely Tyre Corporation of India (TCIL),” Sitharaman said.
Sitharaman further said that the Cabinet has already approved 10.82 per cent stake sale in SAIL and an IPO of 10 per cent of stake in each of RINL and Hindustan Aeronautics Ltd (HAL).
Further, the Cabinet has also approved sale of residual government equity in Hindustan Zinc and Balco.
In the Budget, the government has estimated to collect Rs 43,425 crore from selling stake in PSUs and another Rs 15,000 crore from sale of residual stake in the erstwhile government companies.
“The disinvestment targets were not achieved during the last three years. The government will make disinvestment process more effective in order to achieve the budgetary target of the current year,” Sitharaman added.
Of the disinvestment target of Rs 40,000 crore in 2013-14, the government had mobilised Rs 15,820 crore. In 2012-13, of the Rs 30,000 crore target, Rs 23,957 crore was raised. In 2011-12, only Rs 13,894 crore was raised of the Rs 40,000 crore target. (PTI)
Tagore’s Gitanjali part of WW-I commemorative event at UN
UNITED NATIONS, Aug 5: A poem from Nobel laureate Rabindranath Tagore’s masterpiece ‘The Gitanjali’ was recited by Indian Ambassador to the UN Asoke Kumar Mukerji as part of a commemorative ceremony held here marking 100 years of the outbreak of the World War I.
Mukerji was among the 15 UN envoys who chose, recited and recorded poems related to the war by authors from their respective countries.
The poems and their recordings were displayed at an interactive exhibition organised by the UK’s mission to the UN yesterday as it took over the rotating presidency of the UN Security Council for the month of August.
Mukerji read verse 96 from ‘The Gitanjali’, a collection of Tagore’s poems originally published in 1910.
“When I go from hence, let this be my parting word, that what I have seen is unsurpassable,” reads the first para of the poem by the legendary Indian philosopher.
The Indian delegation said as the shadows of an impending world war were gathering, Tagore’s poems encapsulated a simple faith in man and divinity, a refuge from the crass materialism that was engulfing the world.
It said the spirit of Tagore’s poems appealed to an entire generation, affording solace, faith and hope by rediscovering truth and beauty in the world.
Among the poignant instances of the popular appeal of Tagore’s poetry in war-torn Britain is the story of trench poet Wilfred Owen.
After the death of her son on the warfront, Owen’s mother Susan got his personal possessions back.
In the notebook that Owen carried in his pocket, he had written poem 96 from Gitanjali with Tagore’s name inscribed below.
Owen had recited lines from the poem when he had bid goodbye to his mother.
Owen’s mother had written to Tagore in August 1920 recounting the experience, moved by the power of the poem that reverberated in her mind in the voice of her lost son. (PTI)
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Crompton Greaves Q1 Net up 6.55% to Rs 64.02 crore
NEW DELHI, Aug 5: Crompton Greaves today reported 6.55 per cent increase in consolidated net profit at Rs 64.02 crore for the quarter ended June 30.
It had posted a net profit of Rs 60.08 crore for the April-June quarter of 2013-14 fiscal, the company said in a BSE filing.
Net sales of the company were at Rs 3,441.54 crore in the quarter under review, up 7.72 per cent as against Rs 3,194.79 crore in the corresponding period a year ago.
Overall expenses stood at Rs 3,333.81 crore in the first quarter of 2014-15 as against Rs 3,102.76 crore in the same quarter a year ago.
Shares of Crompton Greaves closed 4.18 per cent down to Rs 194.90 on the BSE. (PTI)
US will not turn back flights over Ebola: White House
WASHINGTON, Aug 5: Asserting that there was “no significant risk” to the country from the Ebola outbreak, the White House has ruled out turning back flights coming to the US and said there are screening measures in place to ward off threats from the disease.
“No, not at this point,” the White House Press Secretary, Josh Earnest, told reporters when asked if the flights coming to the US would be turned back over Ebola.
“At this point, there are screenings that are in place both before individuals board flights in their home countries or where these flights originate, but also after these individuals arrive here in the United States they’re screened once again,” he said.
“There are facilities available that if an individual is detected exhibiting these symptoms, that they can be quarantined and promptly evaluated by a medical professional,” he added.
The Centers for Disease Control, which is in close coordination with the World Health Organisation and other multilateral organisations, he said, has assessed that there is “no significant risk” to the United States from this current Ebola outbreak.
“It’s important for the public to understand that the reason that it’s important to identify the symptoms is you’re not contagious unless you exhibit the symptoms of this disease. That’s what differentiates it from a common cold or the flu, where, of course, individuals can be contagious before they start exhibiting the symptoms,” he added.
“It’s also important for people to understand that this disease is not transmitted through the air, it’s not transmitted through the water, and it would not be transmitted through food here in the United States. That’s why the CDC has assessed that there’s no significant risk to the United States from this current Ebola outbreak,” Earnest said.
The United States Secret Service and the State Department have ensured that their officers are properly trained to identify individuals coming from Africa who are exhibiting these symptoms.
Meanwhile the US Secretary of Health and Human Services (HHS), Sylvia Mathews Burwell, and Centers for Disease Control and Prevention (CDC) Director Dr Tom Frieden consulted yesterday with the President of Guinea Alpha Conde, and senior officials from Liberia and Sierra Leone about the outbreak of Ebola in West Africa.
The group identified national and regional priorities and held intensive discussions on the types of assistance needed to mount an effective response.
Burwell and Frieden reiterated US engagement and support for efforts to control the outbreak and address the challenge.
The discussions took place on the margins of the US-African Leaders Summit now taking place in Washington. (PTI)
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Cease-fire takes effect to end Gaza war
GAZA CITY, Aug 5: A cease-fire between Israel and Hamas meant to last at least three days and end nearly a month of fighting went into effect in the Gaza Strip this morning.
The truce came ahead of talks in Cairo aimed at brokering a deal that would prevent future cross-border violence.
The temporary truce, agreed to by both sides, started at 8 a.M. (0500 GMT) and was to last for 72 hours during which Israel and Hamas are to hold indirect talks in the Egyptian capital.
The fighting has claimed nearly 1,900 Palestinian lives – most of them civilians. The war has also left 67 Israelis dead, all but three of them soldiers.
Previous international attempts to broker a temporary halt in the fighting failed.
The gaps between the sides are vast and the situation remains volatile – just minutes ahead of the start of the truce, shelling still echoed across Gaza.
Hamas wants Israel and Egypt to lift their seven-year-old Gaza border blockade. Israel wants Hamas to be disarmed.
Earlier today, the Israeli military announced that all its ground troops will have pulled out of Gaza by the start of the new cease-fire.
Military spokesman Lt. Col. Peter Lerner said the withdrawal was going forward after Israel completed the destruction of 32 cross-border tunnels that were built for Islamic militant attacks inside Israel.
During the course of the fighting, Israeli forces killed some 900 Palestinian militants, Lerner said.
The war broke out on July 8 when Israel launched an air offensive in response to weeks of heavy rocket fire out of Hamas-controlled Gaza. It expanded the operation on July 17 by sending in ground forces in what it described as a mission to destroy a network of tunnels used to stage attacks. (AGENCIES)
Zooey Deschanel splits from boyfriend
LOS ANGELES, Aug 5: ‘New Girl’ star Zooey Deschanel has reportedly split from her boyfriend of two years.
The news of break-up comes after Deschanel was photographed cosying up to a new man last month on the set of her upcoming film ‘Rock the Kasbah’, reported Us magazine quoting multiple sources.
The actress was spotted again with the man, who has since been identified as Jacob Pechenik, a producer on her latest film.
Deschanel, 34, and Linden began dating back in June 2012, shortly after her split from ex-husband Ben Gibbard, the lead vocalist of ‘Death Cab for Cutie’. (PTI)
Retail inflation for factory workers softens to 6.49% in June
NEW DELHI, Aug 5: Lower prices of food items, soft coke and medicines pulled down retail inflation for industrial workers to 6.49 per cent in June against 7.02 per cent in May.
The retail inflation, which is based on Consumer Price Index-Industrial Workers (CPI-IW), was at 11.06 per cent in the same month last year, a Labour Ministry release said.
Food inflation stood at 5.88 per cent in June against 7.66 per cent of the previous month and 14.86 per cent in the corresponding month of 2013.
The All India CPI-IW for June 2014 increased by 2 points and pegged at 246.
Rice, fish fresh, goat meat, milk, potato, onion, tomato and other vegetables, chicken, sugar, cigarette, electricity charges were responsible for the increase in the index.
However, this increase was restricted to some extent by wheat & wheat atta, edible oils, fruits, soft coke, medicine (allopathic), etc, the release said.
At centre level, Goa, Madurai, Vishakhapathnam, Bengluru and Kodarma recorded maximum increase of 6 points each followed by Ahmedabad and Hubli Dharwar (5 points each).
Among others, 4 points rise was observed in 8 centres, 3 points in 11 centres, 2 points in 16 centre and one point in another 16 centres.
On the contrary, a decline of 8 points was reported in Giridih, 2 points each in Yamunanagar and Sholapur, and one point in 5 centres. Indices of remaining 12 centres experienced no change.
The indices of 36 centres are above and other 42 centres are below national avearage. (PTI)
MCA has ordered probe against 63 West Bengal cos: Sitharaman
NEW DELHI, Aug 5: The Corporate Affairs Ministry has ordered probes against 63 companies in West Bengal for alleged misappropriation of money raised from public, Parliament was informed today.
“On the basis of complaints received alleging misappropriation of funds collected from public by certain companies in West Bengal, the Ministry has ordered investigation…Into the affairs of 63 companies,” Minister of State for Corporate Affairs Nirmala Sitharaman informed the Rajya Sabha in a written reply.
Further, Sitharaman informed the house that a total of 1,82,417 companies and 1,168 Limited Liability Partnership (LLPs) were registered in West Bengal till June-end, 2014.
To a query on Corporate Social Responsibility (CSR) rules, the Minister said that specific difficulties of complying with these norms by companies including Public Sector Undertakings (PSUs) “are likely to be brought to the notice of this Ministry (Corporate Affairs) only when companies implementing CSR policies gain experience of working such provisions”.
“This Ministry has, however, not received any communication from any PSU requesting for revising the 2 per cent CSR norms,” Sitharaman said.
“At present there is no proposal to revise the CSR provision of the Companies Act 2013,” she added.
Under the new Companies Act, certain class of profitable entities are required to shell out at least two per cent of their three-year annual average net profit towards CSR activities. (PTI)
Goods over Rs 1 crore traded across LoC in Poonch
POONCH : Goods worth over Rs 1 crore were traded across the Line of Control (LoC) at Chakan-Da-Bagh crossing point in Poonch district today, officials said.
As many as 25 trucks rolled out from the Trade Facilitation Centre (TFC) here to PoK, they said, adding, these trucks carried bags of bananas, cumin and chilly worth Rs 1,00,93,680.
From PoK, only one truck carrying bags of almonds and dry dates worth Rs 20,86,200 entered India, they said.
Officials from both sides monitored transportation of these goods twice during the day. (AGENCIES)