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TRAI revises domestic bandwidth tariff
Kandla-Bathinda pipeline to carry crude oil
No decision yet on petro price hike
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Once a court, a 5-star hotel now
Expedite Amritsar SEZ, say traders
Chinese airlines order 30 Airbus aircraft
Sony, Toshiba to make new DVD jointly: report
Corporate results
Bank account
Ficci team to visit Pak
Jindal Stainless profit grows 239 pc
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TRAI revises domestic bandwidth tariff
New Delhi, April 21 TRAI has fixed revised ceiling tariff for the most commonly used capacities/speed i.e. 64 kbps, 128 kbps, 256 kbps, E1 (speed of 2 MB per second), DS-3 (speed of 45 MB per second) and STM-1 (speed of 155 MB per second). The reduction in ceiling with respect to the market after TRAI’s revision has been 54 per cent for 256 kbps, 128 kbps and 64 kbps. For DS-3, there has been a reduction of 67 per cent and for STM-1 it has gone down by 70 per
cent.
Domestic Leased Circuit (DLC) is the medium of carriage of data and voice services within the country. The service is provided by basic service operators / unified access service licensees, national long distance operators and infrastructure service providers category ii. The key users of the service in India are Internet Service Providers, Informational Technology (IT) and IT-Enabled Service enterprises like business process outsourcing units, telecommunication service providers, corporate enterprises, etc. The reduction in the tariff for leased circuits seen in the market is largely restricted to selective routes and in selective capacities. “The Authority also found that a competitively priced DLC service is fundamental to achieve a higher rate of penetration of broadband in the country, which provides a basis for fundamentally transferring the socio-economic opportunities, particularly in rural India,” the regulator said. BSNL reacts
Reacting to the new tariff revision by TRAI, state-owned Bharat Sanchar Nigam Limited (BSNL) today said it would soon approach the telecom regulator with a new set of broadband tariffs. “BSNL is reviewing its tariffs for leased lines and bandwidth rates,” a source in the BSNL said. The new revision announced by TRAI earlier in the day “appears to be below cost according to initial estimates by the BSNL,” the source said. BSNL will be reviewing its lower end bandwidth including MPLS, VPN, IPVN and other services.
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Kandla-Bathinda pipeline to carry crude oil
New Delhi, April 21 The pipeline is being converted to meet the additional crude oil requirement for IOC’s Panipat refinery, the Minister said. On the conversion of the Kandla-Panipat pipeline section to crude oil service, it has been ensured that the supply of petroleum products to the western and north-western regions will be met through several new pipelines, which have already been laid for the purpose, namely Koyali-Viramgam-Sidhpur product pipeline, Sidhpur-Sanganer product pipeline and Panipat-Rewari product pipeline, the Minister informed the House. He also said that there is no formal proposal to extend the proposed Indo-Iran gas pipeline to China via Myanmar, “but the thought has been thrown up for public discussion”. “The proposal for Iran-Pakistan-India gas pipeline is at initial stages of discussion. The details of the project are yet to be finalised,” Petroleum Minister Mani Shankar Aiyar told the Lok Sabha in a written reply today. He said that enough safeguards to ensure security of supplies would be built into the project if and when the details are formalised. “The security dimension also is open for public consideration,” he said.
Hazira terminal opened
With the commissioning of Hazira LNG Terminal near Surat in south Gujarat at the initial throughput capacity of 2.5 million tonnes per annum, Royal Dutch Shell Group proposes to enhance the terminal’s capacity to scheduled 5.0 mtpa with marginal investment. The terminal was formally inaugurated today by Shell Group and Total Gaz Electricite Holdings of France at Hazira and simultaneously at other places like New Delhi and Gandhinagar via satellite. While Gujarat Chief Minister Narendra Modi was the chief guest at Gandhinagar, Union Minister for Petroleum and Natural Gas Mani Shankar Aiyar at New Delhi and other senior officials at Hazira. Shell Gas and Power Regional Business Director Charles Watson hoped that the capacity of the terminal would be doubled subsequently to 10 mtpa with increased demand for LNG and by building a bulk multi-cargo port adjoining the terminal at a cost of another Rs 3,000 crore.
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No decision yet on petro price hike
New Delhi, April 21 “We have not taken a decision, yet. But the matter is under active consideration”, Mr Aiyar said during question hour today. He said that the public sector oil marketing companies (OMCs) had not passed on the full increase in international prices to the domestic consumer prices. “Although, with effect from August 1, 2004, the government had worked out a price band mechanism, allowing the OMCs freedom to revise the prices of petrol and diesel within the prescribed price band, the steep and volatile increase in the international prices of crude oil resulted in the ceiling of the price band being breached within weeks of it being made operational”, he said.
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Once a court, a 5-star hotel now
London, April 21 The Court House, the second oldest court in the UK on the Great Marlborough Street, where Oscar Wilde had the start of his ‘Queensbury’ case hearing, was closed in December 1999 and NRI Hotelier Joginder Sangar acquired the place
in April 2000. After nearly five years of renovation, development and alterations now a unique 116-room five-star hotel — The Court House Kempinski - has started operating in its place to near full-capacity. Mr Sangar told newspersons here last night that out of the 30,000 sq ft area, they had retained much of the splendour of the original, with a number of
quirky features. The No 1 court where the judges used to preside has now been converted into a posh restaurant named as Silk, the hotel’s destination restaurant, retaining most of the original features including the witness stand and the dock. Lord Buddha’s statue now adorns the judge’s seat
of justice. Three of the 22 prisoners’ cells have been retained as “samples” and have been beautifully blended with the new look granite-floored building. Elsewhere in the hotel, glimpses of former use can be seen — such as the iron bars that separate the lobby lounge from the bar. Facilities include a 100-seat private cinema hall, conference suite, business centre and health spa, boasting a pool with jet streams, treatment rooms, gym, steam shower and sonarium. The erstwhile Police Commissioner’s London Bedroom at the Court House has now been converted into a roof-top terrace, the tariff for which is 2,500 pounds per night.
— PTI
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Expedite Amritsar SEZ, say traders
Amritsar, April 21 At a special meeting convened here today Mr S.C. Aggarwal, Principal Secretary Industry and Commerce, said the government was considering to set up a smaller SEZ for particular trade and industry in this border district. The prohibitive cost of land had made the government to have a second look for developing the composite SEZ in 1000 acres Mr Aggarwal said he was keen that the private-public partnership should work for developing the SEZ. With the current warmth in relations with Pakistan and the SAFTA agreement coming into force by next year, the SEZ would be of great help to this border region. Earlier, a detailed presentation made to a group of businessmen here said the key factor for this SEZ would be developing relations with Pakistan. Although the government has not yet demarcated any location for the SEZ, the government agencies have earmarked Chhapa village on the Amritsar-Sri Hargobindpur road for the purpose. Welcoming the Rs 500-cr project leading industrialist Brij Mohan Khanna said the government would have to do much spadework to identify export-oriented units to be a part of the SEZ. Established medium and small units would find it difficult to relocate their industry in the SEZ block. General secretary of the Shawl Club Piara Lal Seth said that the SEZ was indeed a laudable project but required an indepth feasibility report which should be properly marketed in India and abroad to attract foreign investment. Leading basmati rice exporter Ravinder Chatha said the government must look into the issue of encouraging Agrofood processing industry in this zone as this region was known to produce best-quality basmati paddy with excellent market abroad. CII representative Gunbir Singh said that the government must put its act together to make this zone a reality. Mr Aggarwal was accompanied by leading developers of the country including DLF, Mahindra and Mahindra, Quark, IDA and DS Constructions, which had been asked to identify the land around Amritsar for setting up the zone.
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Futuristic airport for Amritsar
New Delhi: The Airports Authority of India (AAI) has plans to construct futuristic airports using glass and steel in addition to conventional materials at 18 cities.
Civil Aviation Minister Praful Patel informed the Lok Sabha today during the question hour that these airports are: Ahmedabad, Trivandrum, Jaipur, Udaipur, Trichy, Dibrugarh, Kolkata, Surat, Calicut, Srinagar, Amritsar, IGI Delhi, CSI Mumbai, Varanasi, Khajuraho, Madurai, Mangalore and Vizag. Private firms are being appointed for designing terminal buildings, aerobridges and other aesthetically good airport design by holding global and national design competitions in accordance with the guidelines of Council of Architecture. He said that Rs 90 crore would be spent on Indira Gandhi International Airport in Delhi, Rs 145 crore in Ahmedabad airport, Rs 150 crore on Thiruvananthapuram airport, Rs 160 crore on Kolkata airport and Rs 86.66 crore on Mumbai airport. He said that air cargo complexes would be constructed at Jammu and Indore airports.
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Chinese airlines order 30 Airbus aircraft
Toulouse, France, April 21 Meanwhile, the A380, the world’s largest commercial airliner, will make its first test-flight “within the next 15 days”, Airbus vice-president Philippe Delmas said here today. Asked when the flight would take place, Delmas, in China accompanying French Prime Minister Jean-Pierre Raffarin, replied: “In the next 15 days.” The twin-deck aircraft, capable of carrying between 555 and 800 persons, was unveiled on January 18 and is scheduled to go into service next year.
— AFP
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Sony, Toshiba to make new DVD jointly: report
Tokyo, April 21 The two camps have agreed that this incompatibility would pose a problem and would announce an accord as early as this month on joint development of a next-generation DVD, the ‘Nihon Keizai Shimbun business daily and Kyodo News
said. — AFP
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Satyam profit grows 51 pc
Mumbai, April 21 Announcing the results, the company said its total income has increased to Rs 978.63 crore for the quarter ended March 31, 2005, as against Rs 725.70 crore in the same period last year. It has posted 34.9 per cent growth in net profit to Rs 750.26 crore for the year ended March 31, 2005 as compared to Rs 555.79 crore for the year ended March 31, 2004. Total income has increased to Rs 3,546.77 crore for the year ended March 31, 2005 as compared to Rs 2,623.27 crore last year. The consolidated results as per Indian GAAP show that the profit after taxation and share of loss in associate company as per Indian GAAP is Rs 206.16 crore for the quarter ended March 31, 2005 as compared to Rs 134.31 crore for corresponding quarter previous year. Total income has increased to Rs 1001.29 crore for the quarter ended March 31, 2005 as against Rs 727.74 crore in the same period last year. Nalco profit
highest-ever
National Aluminum Company Limited (Nalco), the leading producer and exporter of alumina and aluminium in the country, has registered the highest-ever net profit of Rs 1222.43 crore in the financial year 2004-05. A Nalco press note issued here today said the net profit had registered an increase of 66 per cent over the previous year. According to the unaudited results taken on record at a meeting of the Board of Directors here today, the Company has also reported an all time record sales turnover of Rs.4437.97 crore, a jump of nearly 33 per cent over the previous year. In export also, Nalco crossed Rs 2,200 crore during 2004-2005 as against Rs 1,717 crore achieved during last year. On the production front, the company established new records in all segments. Its bauxite mines crossed the rated capacity to achieve highest ever production of 48.52 lakh tonnes against 48.17 lakhs tonnes in the previous year.
— UNI
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Bank account
Mumbai, April 21 The bank has registered a net profit of Rs 1,165.40 million for the quarter ended March 31, 2005, as compared to Rs 870.90 million for the corresponding quarter of 2004. Total income has increased from Rs 5,162.30 million in 4th quarter of 2003-04 to Rs 7,224.20 million for the quarter ended March 31, 2005. Total income has increased from Rs 21,386.90 million to Rs 23,399.80 million over the year ended March 31, 2005. The Board of Directors has recommended a dividend of Rs 2.80 per share (28 per cent) for the year ended March 31, 2005 (previous year Rs 2.50 per share), subject to the approval of the members at the ensuing Annual General meeting and by the Reserve Bank of India.
Corp Bank net drops
Corporation Bank has recorded a 33.93 per cent drop in consolidated net profit at Rs 350.69 crore for the year ending March 31, 2005 and recommended a 35 per cent dividend. The consolidated net profit stood at Rs 530.83 crore in 2003-04. The board has recommended a dividend of 35 per cent involving a total outgo Rs 57.52 crore, chairman and managing director V K Chopra told newsmen here today. Total income for the reporting year also fell to Rs 2,762.27 crore as against Rs 2,813 crore in 2003-04. Net profit for the fourth quarter ending March 31, 2005 on a stand alone basis also dropped to Rs 107.57 crore as compared to Rs 119.49 crore in Q4 of FY04 while total income rose to Rs 703.25 crore against Rs 648.41 crore in January-March of 2004, he said.
— Agencies
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Ficci team to visit Pak
New Delhi, April 21 The six-day visit to Pakistan from May 23 is being led by FICCI President Onkar S. Kanwar .The team will comprise industry
stalwarts, besides FICCI women entrepreneurs led by FLO President Meera Aggarwal. The delegation is slated to call on
Pakistan President Pervez Musharraf, Prime MinisterShaukat Aziz, among
others.
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Jindal Stainless profit grows 239 pc
Mumbai, April 21 Total income (net of excise) has increased to Rs 954.33 crore for the January-March quarter as against Rs 767.94 crore in the same period last year. The company has posted 52.3 per cent growth in net profit after tax to Rs 250.14 crore for the year ended March 31, 2005 as compared to Rs 164.19 crore for 2003-04.
— UNI
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Inflation rises to 5.48 pc Listing at LSE Fortune 1000 list Hutch offer Elitex — 2005 |
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