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Wednesday,
June 19, 2002, Chandigarh, India  
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Export
growth target set at 12 per cent iServ
launches Net telephony Inder
Singh is CIO of Visa Make
Haryana investment destination: CM |
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Hafed
registers Rs 25.53 cr profit KVIC
offers loans for new units Telecom
industry opposes TRAI Sundaram
Fasteners PAT at Rs 29.21 cr ROUND-UP Bajaj bikes for global sales Microsoft, HP Net service for poor British Airways to slash fares Kumble ambassador of Indigo Nation IOC net rises 82 pc
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Export growth target set at 12 per cent New Delhi, June 18 A Commerce Ministry statement said that the target for India’s merchandise exports has been fixed after extensive consultations with various export promotion council (EPCs) and commodity boards and takes into account the performance of the last financial year as well as the assessment of the trends during the current year within the existing scenario and policy framework. The target is based on the projections made by EPCs and commodity boards for their respective sectors. The statement said that based on the medium term export strategy announced by the Commerce Department and the action plans prepared by the EPCs and CBs, specific product and market related strategies are planned. Special focus will be on the markets of Latin America, Africa and CIS apart from the US. Meanwhile, official figures released today showed that foreign direct investment inflows amounting to $ 4.06 billion were received during the financial year 2001-02, as against $ 2.46 billion dollars received during the previous year thereby registering a growth of 66 per cent. The FDI figures released by the government are based purely on foreign equity investments (including preference shares) other than foreign portfolio investment. It also excludes investments by offshore venture capital funds/ domestic venture capital funds set up by foreign venture capital investors. The Centre has recently set up a joint committee comprising representatives from RBI and the Department of Industrial Policy and Promotion to modify the existing FDI reporting system in line with international computation standards. |
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iServ launches Net telephony New Delhi, June 18 A unique dial-in number will be assigned to users in Delhi through which they will be able to make international calls using the Voice over Internet Telephony (VoIP) platform. “This will help leverage on network efficiencies and make it possible for people to talk through the Net even if they do not have an Internet connections”, Mr Kushal Banerjee, CEO, iServ India Solutions said. The company plans to roll out
attractive packages aimed at Cybercafe and PCO owners to enable non-PC owners to avail of the service. Once the computer is connected to the Internet, the ZyberTalk software changes the voice into digital data and sends it to the backend via the Net, where it is reconverted into voice and sent to any telephone through the backbone telecom carriers. |
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Inder Singh is CIO of Visa New York, June 18 Inder Singh will head the IT Management Group at Visa International and report to Visa International President and CEO Malcolm Williamson, said a Visa statement issued here. Inder Singh will be responsible for coordinating IT processes and standards to maintain global service standards for transaction processing and data management and guide ongoing strategic initiatives, it added. "Visa is driving towards a new level of processing capability, and Inder brings the experience and leadership to make it happen," said Williamson. "Working with our six operating regions and our IT subsidiary Inovant, Inder's team is delivering a new payments architecture, one that allows Visa to expand quickly into new lines of business and new countries," he said. Inder Singh joined Visa in November last year to help formulate the roles and responsibilities of the CIO. He brings nearly 25 years of senior management experience in technology and business within the banking industry. He had held executive positions at SeaFirst Bank and at Bank of America Corporation, said the Visa statement. Inder Singh developed Bank of America's overall delivery strategy for expansion in Asia and established the global retail business and payment strategies for the bank. As part of his new responsibility, Inder Singh is expected to play a leading role in improving the flexibility and capacity of VisaNet, the secure payment network of Visa International, by helping retool key systems. "We are harnessing the unparalleled scale and efficiency of VisaNet to drive more processing power down to the regional level," Inder Singh said. "This approach will improve our ability to rapidly customise solutions for the evolving needs of our member financial institutions and enhance Visa's competitiveness in the dramatically changing payments marketplace." Visa branded cards generate more than $2 trillion in annual volume and are accepted at more than 24 million locations around the world, including more than 750,000 automated teller machines.
IANS
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Make Haryana investment destination: CM Washington, June 18 Addressing a select group of eminent political and business personalities present at a dinner hosted in his honour here last evening, Mr Chautala said Haryana had set up a Foreign Investment Promotion Board not only to clear investments in Haryana, but also to oversee the implementation of approved projects. Reiterating his call, Indian Ambassador to the US Lalit Mansingh exhorted the Indo-American community to flood Haryana with investment proposals. Speaking on the occasion, Mr Kapil Sibal, MP and the co-Chairperson of the Indo-US Parliamentary Forum, also endorsed the fact that Gurgaon had become a role model for urban development in India. The Board, which is headed by the Chief Minister, includes retired Foreign Service Officer, Mr Prem Singh, who is the Advisor on Foreign Investment and its Vice-Chairman. The Board takes care of the needs of new entrepreneurs including clearances, approvals from government agencies and regulatory bodies. He said the people of Haryana had begun to embrace industry as the future means of growth and he was sure that the state would soon occupy the top position in the country in terms of economic growth. He said during the past two and a half years alone Haryana had moved to the third position in the country from the 15th position in IT export. He said his government had introduced fundamental changes in the education policy to enable the youth to make most of the coming times.
UNI
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Hafed registers
Rs 25.53 cr profit Chandigarh, June 18 He disclosed that to meet the requirements of covered storage space, Hafed has initiated a massive campaign for construction of godowns for storage of rice and other agri-products. It has already constructed 3.43 lakh MT capacity godowns. Further, under the state government policy, 2.65 lakh MT capacity godowns have been constructed through private parties under seven year guarantee scheme of FCI. Mr Mohan also pointed out that the federation has constructed a storage complex at Ramgaria, in Sirsa and at Rania with 35,000 MT capacity at a cost of Rs 23.3 crore. It is also constructing a multi-storey modern warehouse of 7350 MT capacity and cold storage of 2500 MT capacity in Delhi. |
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KVIC offers loans for new units Chandigarh, June 18 This was disclosed by Mr A.K. Dwivedi, Director, Rural Employment Generation Programme, KVIC, Mumbai, here today. While talking to TNS, he said the KVIC had sanctioned Rs 20 crore as subsidy to finance 2,320 manufacturing and service units in Punjab to generate employment for 10,000 youths, Rs 30 crore for Haryana and Rs 1 crore for Chandigarh. He was here to participate in the quarterly review meeting of the scheme. Regarding the strategy adopted by the KVIC to achieve targets, he said it was banking on the Margin Money Scheme to encourage the rural youths and cooperative societies to take loans up to Rs 25 lakh to set up their own units. Expressing hopes to achieve targets, he says,‘‘ Unlike previous years, we have decentralised the powers to sanction loans to state and regional
offices. Earlier the loans were sanctioned at Mumbai headquarters resulting in unnecessary delay and rising of costs. Now associated banks have been fully authorised to take independent decision to provide credit on merit basis, of course, as per the criteria laid down under the scheme.’’ The commission would also provide training and marketing support to entrepreneurs. Who can avail the benefit of the scheme? Says Mr Dwivedi, any rural person with adequate entrepreneurial skills and a sound project proposal can apply for a loan. He will have to contribute up to 10 per cent of the cost of the project under the general category, and just 5 per cent in case of the SC/ST and women category. Indeed, the final decision to grant loans will be taken by the bank. He admits that the small scale units in rural Punjab, like their counterparts in other states, are passing through a difficult phase due to slow growth of the market. We are not promoting any clusters of a particular industry. Rather the emphasis will be on different types of units keeping in view the local demand and availability of raw material. The youth can open even cyber cafes, beauty saloons, repair shops or anything so far accepted as urban vocations.” |
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Telecom industry opposes TRAI
New Delhi, June 18 The industry has also called for a radical review of the Draft Convergence Bill now pending with Parliament, terming it as “anti-consumer”. Talking to UNI, Telecom Industry and Services Association of India (TISA) President P K Sandell said the government should withdraw the present Draft Convergence Bill and introduce a revised Bill in the winter session on the lines of the UK Government’s “Convergence Bill” which clearly provides for “a true convergence regime paving the way for an affordable universal service for the consumer - that is, a licence fee regime with minimum regulation”. In the UK Convergence Bill, all licencing requirements for telecommunications services and systems have been removed. “This will in one stroke remove nearly 400 licences, replacing them with one simplified regulatory regime,” explained Mr Shashi Ullal, Chairman of the Communications Convergence Committee of Assocham.
UNI |
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Sundaram Fasteners PAT at Rs 29.21 cr
Kolkata, June 18 Earnings per share for the period stood at Rs 28.59 as against Rs 28.17 in the last year. The company recorded a total sales of Rs 433.17 crore for the year ended March 31, 2002 as against Rs 424.21 crore achieved during the previous year.
UNI |
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ROUND-UP Chennai “The idea is not to invest substantially in setting up own facilities but to take over the management and running of existing facilities in these countries, thanks to our professional track record”, Pratap Reddy, Executive Chairman of Apollo Hospitals, told reporters here today.
PTI Bajaj bikes for global sales
New Delhi “Right now, talks are going on. They (Kawasaki) saw our quality and productivity and it has been in-principle decided that they will source motor cycles from us and distribute it worldwide through their network,” Bajaj Auto Vice-Chairman Madhur Bajaj said.
PTI Microsoft, HP Net service for poor
New York At a meeting of the UN General Assembly yesterday both companies announced that they had joined the CEO Charter for Digital Development, an initiative by the World Economic Forum being administered by the United Nations. In the case of Microsoft, which donated $ 36 million in cash and $ 179 million in software last year, funds given to alleviate the so-called digital divide should surpass $ 43 million.
AP British Airways to slash fares
London Britain’s troubled flag carrier, which last month reported its first annual loss since privatisation 15 years ago, said Saturday night and advance purchase restrictions would be scrapped on flights to France, Italy, Portugal, Holland, Sweden, Norway and Denmark. The latest move follows the airline’s decision at the end of last year to axe routes to a number of European destinations as it attempted to staunch losses at its European operations.
AFP Kumble ambassador of Indigo Nation
New Delhi “We are extremely happy to associate Anil Kumble with Indigo Nation. We believe there is great synergy between Indigo Nation and Anil Kumble. Indigo Nation is the fashion for Global Indian, said Mr Sriram Srinivasan, Managing Director, Indus League-Clothing Ltd.
TNS IOC net rises 82 pc
Mumbai The profit was higher mainly on account of settlement of pool claims for earlier years. Income from sales and operations, however, declined from Rs 29,443.76 crore in the March quarter of 2001 to Rs 28,112.11 crore for the quarter ended March 31, 2002, the company said.
UNI
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Panel demanded Zydus Cadila PHDCCI Castrol India |
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