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Saturday,
August 18, 2001, Chandigarh, India  
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Zee, Sony in pact for telecast in Australia
Milkfed eyes world market
Maruti to roll out car for disabled Cabinet okays
Bills for revival of
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Groups to meet WTO
challenges HDFC Life starts operations in
city I-flex Solutions to offer IPO Phones in all villages by 2002 SBI chief gives branches quality awards Honda Activa unveiled in city Millers told to produce
raw sugar
Keep watch on Global Telesystems
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Zee, Sony in pact for telecast in Australia Sydney, August 17 The Sony Entertainment Television was launched here as part of the Zee Link’s Direct-to-Home satellite platform by Minister for Immigration and Multicultural Affairs Phillip Ruddock at a function. Speaking on the occasion, Ruddock said, it is very important for us to have these media linkages. Through television, the migrant Indian community can maintain its links with its roots. “Maintain your linkages, but commit to Australia and this will go a long way in sustaining a rich and enduring relationship between the two countries,” he said. Three Australian born Indian girls performed a symbolic invocation dance to Lord Shiva, about which Saba Zaidi-Abdi, Proprietor and Director of Zee Link said, “this dance itself represents the connectivity and continuity to our art form”. Zee Link had commenced as a pay TV service in Australia and New Zealand in September last year with the zee bouquet comprising Zee TV, Zee Cinema, Zee Music and Zee News. CEO of Sony Entertainment Television Kunal Dasgupta said “it is a small niche market which cannot be divided and bringing entertainment together makes commercial sense. We didn’t want the subscribers to pay separately. This channel is specially crafted for the region and we will be involving the local community in our programmes.” Bollywood star Jackie Shroff, who is also one of the Directors of Sony, said “as a director I would feel very responsible that programmes with strong family values are telecast. It is my first visit to this beautiful city and I look forward to shooting some feature films here in the near future.” Indian High Commissioner to Australia R.S. Rathore said “Sony has added a new dimension to entertainment. Zee and Sony play a vital role in our cultural and emotional links. In uniting the community and encouraging young talent they are providing yeomen service.” When asked about sports coverage, the Sony CEO said, “we have rights for telecasting all cricket matches played in India, Sri Lanka and Bangladesh. However, when Australia is playing in India, the stakes are very high and we can’t afford to relay those matches.” The viewers here will not have to suffer 15 minutes of commercials every hour, he said. It will be a commercial free feed. “Subscription is our basic revenue, but we will eventually be looking for local commercials,” Dasgupta added.
PTI
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Milkfed eyes world market Chandigarh, August 17 It has begun negotiations with two foreign multinationals to produce a variety of processed cheese items for them and market them in India and abroad under their world famous brand names. “We hope to have something positive on this front within the next few weeks”, said Dr B.M. Mahajan, Managing Director of the Milkfed here today. He declined to identify the foreign companies with which the Milkfed was negotiating but was confident that the Milkfed plants would be able to meet the high standards and stringent quality control required to penetrate the world market. He said that six milk plants of the Milkfed had already obtained the certification under ISI-9002 and IS:15000 HACCP. This had made it easier for the Milkfed to find global market for its products and also it and the affiliated milk unions to pay remunerative price to the milk producers by increasing the realisation from its products. According to Mr Jagdeep Singh Nakai, Chairman of the Milkfed, it has already become a major player in the international market as well as domestic market. Milkfed has formulated a comprehensive strategy for the export of Verka milk and milk products. During his recent visit to Gulf Food Ingernational Festival at Dubai, Verka products evinced a keen interest among the buyers. Besides receiving a number of trade enquiries from Saudi Arabia, Qatar, Eqypt, Russia and China, the Milkfed for the first time got a confirmed order of 1000 MTs of full cream milk producer i.e. 500 MTs each from Africa and Iran. Milkfed has also secured a confirmed order of 400 MTs of skimmed milk powder to be supplied in three months to Gulf countries beating the earlier supplier of New Zealand. Dr Mahajan said that the Milkfed had also launched new value added products including frozen desert, spiced cheese spread and flavoured fruit yogurt in three flavours namely mango, strawberry and pineapple. Its Raseela brand mango drink had sold seven lakh packs last month as against just one lakh packs during the same month last year. The demand for Verka ice cream was also burgeoning. Its Chandigarh plant was producing 5,000 litres of ice cream a day. The capacity was being doubled to meet the increasing demand. Milkfed will also soon start producing special cheese for use in pizzas for which there was a great demand.
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Maruti to roll out car for disabled
New Delhi, August 17 The company is all set to roll out, ‘Zen AX Easy Drive’, the country’s first car specially made for the disabled people, Maruti officials said here today. They said the vehicle would be a redesigned automatic version of its highest selling premium small car ‘Zen’. “The car will be priced between Rs 4.32-5.29 lakh (ex-showroom Delhi) at the existing rate of 32 per cent excise duty,” the officials said, but added that a 16 per cent excise duty concession can be availed as per the government rules for the disabled people. Despatches of the vehicle would start soon, they said, adding “the new model is an invitation to a special set of people to join the Maruti family. The ‘Zen’ brand will now serve to enhance freedom and choice for the physically challenged.” “We will be selling the car in nine combinations. These would include those who have one hand or one leg, left or right or for those who have lost both their legs,” they said. The officials said the company would not undertake any major promotional schemes to boost sales of the car as “the step has been taken for a social cause”.
PTI
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Cabinet okays Bills for revival of firms New Delhi, August 17 The Cabinet at its meeting last night cleared as many as six Bills besides taking other decisions, an official spokesperson told reporters here today. The amendment to the Companies Act, 1956 pertaining to insolvency and Repeal of the Sick Industrial Companies (Special Provisions) Act, 1985 is aimed at speedy revival of sick companies and protection of labour interest. Among other measures, the draft bill recommends revival and rehabilitation of sick companies within two years instead of about 25 years at present. The Bill seeks to wind up the BIFR and replace it with a National Company Law Tribunal. The Electricity Bill, 2001, to be introduced in the current session of Parliament is based on recommendations of the Group of Ministers and would obviate the need for each state to enact its own electricity reforms law. It also seeks to free generation from licensing and to allow selling of surplus power directly to bulk consumers.
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Groups to meet WTO
challenges New Delhi, August 17 The Embassies and trade missions will now closely coordinate with the Ministries of Commerce and Industry as the Ministry of External Affairs has decided to sharpen the economic diplomacy for meeting the challenge of globalisation. With this in mind, the External Affairs Ministry has set up three advisory groups on “energy environment”, “World trade and related issues” and “Indian Technical and Economic Cooperation (ITEC)”. The groups are being chaired by the Secretary (Economic Relations), Ministry of External Affairs Mr Shasank. In view of the coming ministerial meeting on the WTO at Doha in November, the Advisory Group on World Trade and related issues will hold its first meeting on August 21. The group on the ITEC will meet on August 24 while the Energy and Environment Group will on August 23. Though the ITEC programme was launched immediately after independence as part of India’s commitment to share the Indian development experience with countries which had recently emerged from colonial rule, the Ministry has now decided to set up an advisory group with the objective to make the programme more focussed and in demand of the present day global realities. The ITEC already has covered more than 145 countries and has provided more than 2.5 $ billion worth of technical, economic and scientific assistance to developing countries. Last year alone, India spent $ 200 million under various technical and economic cooperation programmes. Till now, the ITEC has four components under which training is provided and projects are undertaken. Various experts in different areas are deputed to developing countries so that local expertise could be evolved. Since both energy and environment are playing a crucial role at international forums, the Energy and Environment Group would evolve a suitable strategy by having a broad-based exchanges of views. |
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HDFC Life starts operations in
city Chandigarh, August 17 The company targets to sell at least 25,000 policies by the end of this financial year. “Superlative services along with innovative life insurance products will be our USP,” says Mr Satwalekar, adding that “innovative products can be copied by anyone, it would be the quality of services that will matter in the long run”. HDFC Standard Life Insurance will offer products meant for individuals, companies and NGOs. “The products offer customer the ability to personalise the product to suit his requirement “. The products consist of several riders like waiver of premium and more than 65 per cent of the customers have taken the plans with at least one additional benefit. The company will have two distribution channels — individual consultants / agents and corporate agents. The number of agents of the company in Chandigarh is 25 at present , which will increase to 150 within three months. Mr Satwalekar said: “We have spent 20 months in developing training programme for our financial consultants and no we will compromise on quality. We believe in providing insurance solutions and not selling insurance policies.” HDFC Standard Life, who has a few corporate agents, has signed MoUs with several others to increase its distribution network. On the competition in the market and the large sales network of LIC, Mr Satwalekar said “We are not competing with the LIC, but are working with it”. |
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I-flex Solutions to offer IPO
Mumbai, August 17 “Existing shareholders of I-flex will get a chance to offer their equity. About 10 per cent of enhanced capital will be offered for the IPO, including 2.5 per cent fresh equity”, I-flex Chairman and Managing Director Rajesh Hukku told reporters here today. Hukku said the company was planning to complete the IPO process by the end of the current fiscal year and the IPO proceeds would be used for scaling up facilities and infrastructure, investments in joint ventures and acquisitions. The book building route would be used to determine price of equity shares offered under the IPO, he said, adding that, scrip would be listed on Bombay and National Stock Exchanges. The proceeds would also be used for enhanced marketing and promotional activities in key markets, Hukku said. I-flex had posted a revenue growth of 56 per cent for 2000-01 at Rs 321.1 crore (Rs 206.3 crore) and earnings after tax stood at Rs 110 crore for the same period (Rs 69.3 crore), he added.
PTI
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Phones in all villages by 2002 New Delhi, August 17 He told the Consultative Committee attached to his Ministry that the VPTs may not be possible with the traditional cable laying system and Wireless in Local Loop (WLL) access technology would be appropriate for rural areas. Mr Paswan announced that limited mobility using WLL would be allowed within the short distance charging area. Plans are afoot to raise the current teledensity from 3.6 per hundred to seven by 2005 and 15 by 2010 and for rural areas to four per cent by 2010. |
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SBI chief gives branches quality awards Chandigarh, August 17 He said during the year 2000-2001, Rs 1100 crore of bad debts fully provided for were written off, Rs 800 crore were upgraded and 3,600 crore of NPAs were reduced. Mr Ballabh stressed for quality deployment of funds in the areas of retail banking, personal loans, housing loans, trade advances, advances to SSI and Agriculture sectors. Later in the evening he awarded prizes to branches who won quality circle competition. Yamunanagar, Naya Nangal and ADB Barwala branch won first, second and third branch prizes for best quality circle stall. Mandi (HP), Sector 17, Chandigarh and Gill Road Ludhiana branches were ranked first, second and third at function held at STC, Panchkula. |
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Honda Activa unveiled in city Chandigarh, August 17 Ms Harmeet Brar of Sector-33 was the first customer who received the key. Besides her, 20 other customers were handed over the keys by Mr M.P. Singh. Mr Karan Gilhotra, Managing Director, said the company has targeted to sell 1,200 scooters in this financial year. Priced at Rs 34,308, Activa is a four-stroke, single cylinder and a 102 CC, 75 BHP scooter with a 50 plus average. The scooter is available in various melallic
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Millers told to produce
raw sugar New Delhi, August 17 “In order to make our presence felt in the global market on a sustainable basis there has to be a change in the mindset that sugar milled for the domestic market fetches better prices and instead orientation has to be towards raw sugar production,” sources said. Subsidies in internal transport and freight charges by a proposed amendment in the Sugar Development Fund Act would benefit both white cane and raw sugar.
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Keep watch on Global Telesystems PICKING the thread from where are left off last week when we had zoomed in on two old economy stocks namely, L&T and Aventis Crop Science, let us now look into excerpts from Avinash’s report to Garima on two new economy companies Crest Communications and Global Telesystems. The noted technocrat Shyam Ramanna promoted Crest Communications in 1990. In recent times it has converted itself into a complete entertainment services provider with presence in advertisement and corporate films, computer graphics and animation, special effects, post-production facilities, etc. Crest is becoming a leading software provider to satellite channels. Its 100 per cent subsidiary in Singapore has tied up with Singapore-based Tamil channel called Vasantham for providing television software. Crest has one of the largest computer graphics centre in the country. The division provides services mainly to advertising, television, movies, cine animation etc. These facilities, which were earlier available only outside the country, are now provided by Crest at significantly cheaper rates. Its post production facilities division provides services, including digital video and film editing facilities, image manipulation, tele-cine, digital film scanning and recording, dubbing, pre-press media services, etc. Rich Animation would become a 100 per cent subsidiary of Crest during this financial year and the company will be re-christened Rich Crest Ltd. Global Telesystems (GTL) claims to be an end-to-end e-commerce services provider but has organised its activities into various group companies. Global Telesystems has emerged as a software and application service provider. It is a pioneer in setting up e-commerce gateways and aspires to be a leader in e-enabled services in the country. While GTL focuses on client servicing, provision and customisation of software, GECS provides the entire infrastructure and has the necessary tie-ups for technology and licensing. GEIS has appointed GECS as a distributor for its e-commerce services and products in India. This agreement also provides for the transfer of existing GEIS customers in India to GECS. GEIS currently provides network services to over 60,000 companies worldwide. GECS is setting up an international gateways for providing bandwidth to ISPs and other players. This will also remove constraints on its business arising from the lack of adequate bandwidth. GECS is also setting up a broadband network in collaboration with Enron for the entire Maharashtra State. The fibre optic network being set up for the MSEB will help in data transmission. The global group is positioned at the intersection of IT and telecom and hence will benefit in the space of IT, telecom and media. Again, do these stocks merit an immediate look-in. Maybe, maybe not. But surely, if my wife says so, they merit watching. More, next week. |
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Allahabad Bank HSIDC UCO Bank S.R. Forgings Code share flights American Express |
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