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GoM accepts TRAI proposals on unified licence in toto Small savings best bet for salaried class Honda launches new look ‘City’ Ratan Tata E&Y ‘Entrepreneur of the Year’
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Hind Lever net up 7.2 pc at Rs 443 crore
Coca-Cola to appear before JPC in Dec
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GoM accepts TRAI proposals on unified licence in toto New Delhi, October 30 Effectively, this can mean that all service providers— WLL, basic and GSM cellular— will be brought under single licence regime. For WLL mobile subscribers, the decision, if ratified by the Cabinet, will mean that they will have the service of “unlimited mobility” while crossing into different circles — almost similar to the GSM cellular phones. Today’s decision perhaps also nullifies the earlier decision of the GoM when it had said that it would enforce the TDSAT ruling on limiting WLL services on short distance charging area (SDCA). Reliance Infocomm, the largest player in the WLL segment, had earlier said it would abide by the government’s decision. Under the new dispensation, the basic operators would be able to migrate to the new licence system with the payment of an additional fee. The GoM which met here today also approved TRAI recommendation of penalty charge of Rs 485 crore to be levied on Reliance for offering multiple registration and call-forwarding facilities to its limited mobility subscribers. The GoM also approved TRAI proposal to levy additional fee on basic telecom services providers who were offering wireless in local loop (WLL) within short distance charging area (SDCA). Cellular operators, however, would not be required to pay any additional fee for migrating to the new regime. Communications Minister Arun Shourie told newspersons after the GoM meeting that the proposal would be put before the Union Cabinet tomorrow. The TRAI, in its recommendations, had suggested the imposition of penalties on Reliance Infocomm for offering mobile services using wireless in local loop (WLL) technology. According to TRAI’s recommendations, the entry fee paid by the fourth cellular operator in various states would be the benchmark for working out the amount to be paid by basic operators who wished to migrate to the new regime. Under the proposed dispensation, Reliance Infocomm would have to pay Rs 221.04 crore for its WLL mobile services in 17 circles, while Tata Cellular Services would have to shell out Rs 129.13 crore for offering WLL(M) in four circles. Bharti Televentures would have to pay an additional entry fee of Rs 19.13 crore but only if it was offering WLL(M) services. Reliance Infocomm would have to pay Rs 1,096 crore, the amount equal to the licence fee that it has paid and that of the fourth cellular player and penalty of Rs 485 crore if the company desired to shift to unified licence regime once the proposed regime came into force. TRAI had said there would not be any additional entry fee if the operator was not providing WLL services and would be imposed only in those circles where fourth cellular operator was providing services. Under the proposed terms, entry fee for basic service operators offering WLL(M) services had been estimated at Rs 69.75 crore in Delhi, Rs 55.81 crore in Tamil Nadu, Rs 44.80 crore in Maharashtra, Rs 19.03 crore in Punjab, Rs 3.6 crore in Karnataka and Rs 28.07 crore in West Bengal. Reliance welcomes decision
Reliance Infocomm welcomed the decision of the GoM to endorse TRAI’s recommendations and said “upon ratification of the decision by the Union Cabinet, consumers will finally be cleared of the confusion that has been prevailing”. The Cellullar Operators Association of India (COAI) said it was “deeply disheartened and disappointed” on the GoM decision. “It is truly unfortunate that an industry that has invested Rs 25,000 crore in setting up a world-class cellular infrastructure... is now being treated in such a cavalier manner in order to accommodate the WLL(M) players”, the COAI said in a statement. On the new IUC and ADC regime announced by TRAI yesterday, Mr Shourie said at present the burden was mainly on Bharat Sanchar Nigam Limited. He, however, admited that the additional ADC would push up cell-to-cell STD charges. “If we want service, we should learn to pay for that”, he said. |
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Small savings best bet for salaried class Chandigarh, October 30 This was stated by Mr M.N. Malhotra, Regional Officer, National Savings Office, Chandigarh region, here today at a function organised on the occasion of the World Thrift Day. He said net collections in small saving schemes had risen from Rs 30.48 crore in 1948-49 to more than Rs 32,000 crore by March 31, 1999. The total small savings, including funds under the public provident fund(PPF) scheme, had crossed over Rs 60,000 crore by the end of last financial year. He said investment up to Rs 70,000 per annum can be made under the PPF scheme, earning up to 8 per cent interest rate and tax rebates on investment and interest. Interestingly, the monthly income scheme(MIS), run through postal offices, was giving tough competition to the LIC Pension Scheme for retired persons, offering 9 per cent interest rate. Since the lock-in period was 15 years in the LIC scheme as against six years under that scheme, a large number of retired persons preferred MIS. Another popular scheme under the national savings is National Savings Certificate. One can deposit from Rs 500 to Rs 70,000 per annum under the PPF scheme and earn about 8 per cent returns as against about 6 per cent returns offered by other financial institutions. About 40 per cent of the savings, under the national savings scheme were deposited under the term deposit scheme, said Mr Malhotra. About three-fourth of the funds, collected under the scheme, were passed on to the states as long-term loans. So the states also offered additional incentives to agents and investors.
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Honda launches new look ‘City’ New Delhi, October 30 Besides the looks, which seem to be a hybrid of the indigenous Tata Indigo and the Toyota Corolla, the HSCI is also hoping to cash in on the mileage of the car, which the company claims would give as much as 17.5 km to a litre under test conditions. While the base model of the car has been priced at Rs 6.67 lakh (ex-showroom Delhi), its fully loaded version CVT has been priced at Rs 7.65 lakh, almost Rs 85,000 cheaper than the present version of 1.3 litre City. The new model, with a new 1.5 litre Intelligent Dual and Sequential Ignition (i-DSI) engine and Continuously Variable Transmission (CVT) system, promises a mileage almost 40 per cent higher (under test conditions) than that of the
existing models. HSCI President and CEO H Yamada told newspersons here at the sedan’s launch, “the new City will expand the brand’s dominance.
— TNS
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Ratan Tata E&Y ‘Entrepreneur of the Year’
New Delhi, October 30 The Deputy Prime Minister last night handed over the Ernst & Young (E&Y) Award to Tata, who has been steering the conglomerate since 1991. The award was bestowed on Tata by global consultancy firm E&Y for achieving a makeover of “far-reaching dimensions”.
— PTI
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Coca-Cola to appear before JPC in Dec
New Delhi, October 30 The company has sought permission from the JPC, looking into the allegation of the Centre for Science and Environment (CSE) about the presence of pesticides ‘in excess’ than EU norms in soft drinks of the company and Pepsico, official sources said here today. At the first day of the two-day sitting of the committee, the Ground Water Board, the Indian Council of Medical Research (ICMR), the Ministry of Forests and Environment and the Central Pollution Control Board made their presentations yesterday. — UNI
Satyam inks pact with US firm HYDERABAD:
Satyam Computer Services today announced the signing of an agreement with American International Technology Enterprises. As per the agreement, Satyam will be the exclusive licensed provider for digital software customisations and modifications to AIG Technologies and its customers, a company statement said here. AIGT’s Digital System (called WINS) is a web-based property-casuality insurance processing application. It is designed to help insurers increase efficiency throughout the insurance life cycle from quoting and policy assurance to claims processing and regulatory reporting.
— PTI
Honda to add new safety measures RAYMOND (USA): Honda of America Inc said its vehicles would be equipped with new features by the end of 2006 as part of a plan to improve safety. The features would include added protection for side impact collisions, rollovers and crashes in which one vehicle was bigger than another. Nearly all Honda and Acura vehicles will get front side air bags and side curtain air bags to enhance protection in side impact crashes and anti-lock brakes as standard equipment, Honda said.
— AP
Samsung Securities profit rises SEOUL:
Samsung Securities said on Thursday its quarterly net profit swelled by a fifth thanks to its own investments in a rising stock market. Analysts say Samsung Securities should perform even better in the current quarter as the stock market is expected to benefit from a recovering global economy and demand from foreign funds. The company posted 32 billion won ($27.16 million) in net profit in the second quarter, up 21.7 per cent from 26.3 billion won a year ago. That was broadly in line with the analysts’ forecast of 33.9 billion won.
— Reuters
Canon profit jumps 27 pc TOKYO:
Canon Inc, said on Thursday its quarterly profit jumped 27 per cent on cost-cutting and strong sales of digital cameras and colour copiers. Canon said group net profit was 73.01 billion yen ($674.8 million) in the July-September third quarter of its business year compared to 57.5 billion yen last year. The results were stronger than Canon’s quarterly estimate for a net profit of 65 billion yen and sales of 756 billion yen.
— Reuters
Reuters CEO to scale back terms LONDON: Reuters Group Plc said yesterday its Chief Executive had given up part of his contract entitlement after complaints from some investors that they were too generous. Reuters said Chief Executive Tom Glocer had forfeited his potential payout of more than a year’s salary and bonus if his contract of employment was terminated before July, 2005. Under the original contract, signed in July 2001, he was eligible for between one year’s and two years’ salary and bonus if his employment was terminated within four years — a clause criticised by Britain’s pension-fund lobby and press.
— Reuters
Ericsson net sales down STOCKHOLM: LM Ericsson posted a loss during the third quarter, but said today its pre-tax figures showed a profit, the first in nearly three years. The company lost 3.9 billion kronor ($505.3 million), or 0.25 kronor (3 cents) a share, compared to a loss 5 billion kronor, or 0.41 kronor a share, in the year-ago period. But without the expenses of its massive cost-cutting program, Ericsson earned 1 billion kronor ($129.5 million) for the quarter ended September 30, compared to a loss of 3.6 billion kronor a year ago. Analysts had predicted a pre-tax profit of 410 million kronor ($ 53.1 million).
— AP
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