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Trai rules out tariff hike during lifetime schemes
India, Bangladesh fail to agree on trade barrier issue
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Govt plans 12,000 MW through captive power plants
Chidambaram to meet bank chiefs today
GM to withdraw Opel Corsa from Indian market
MPs for reforms in coal sector
Voltas plans 3 units in Uttaranchal
Sebi bar on Lalit Dua’s recommendations
Barclays forays into corporate banking with $70 m
Intex forays into notebook segment
Corporate News
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Trai rules out tariff hike during lifetime schemes
New Delhi, March 22 “Hike in tariff is prohibited for any tariff item specified in the lifetime tariff plans during the entire lifelong validity period. In the case of tariff plans other than plans with lifetime validity which have a component of upfront payment, service providers are not allowed to hike tariffs during the promised validity period of such plans,” Trai said in its order. Trai had asked the operators who had offered such schemes on what would happen if there was a change in traffic patterns and Interconnect Usage Charge (IUC) regime and how the consumers would be protected against a hike in tariff. The COAI had urged the regulator to allow operators to hike tariffs in an effort to meet any revision in the IUC regime. The regulator has now struck down this request and has put to rest one of the most crucial issues in these plans. “With a view to protecting the interests of subscribers who make an upfront payment in lieu of certain promised features, including the validity, and also to bring more clarity to the concept of lifetime validity, the authority considered it necessary to issue orders in this regard. The order said that in case of tariff plans offered or marketed as having lifetime or unlimited validity in lieu of an upfront payment, subscribers to such plans would continue to get service as long as the service provider is permitted to do so under the current licence or renewed licence. The service providers who offer such plans will inform the subscribers of the month and year of the expiry of current licence. And in case of tariff plans other than lifetime validity schemes, subscribers to them will also continue to get service during the entire promised validity period. The subscriber will have the right to choose any tariff plan at any point of time, Trai said. Trai issued 43rd Amendment to the Telecommunication Tariff Order today covering various aspects arising out of tariff plans having longer validity period including lifetime validity. This Order is a culmination of the process of consultation initiated by the authority with the issue of consultation paper on January 16 this year followed by open house discussions held in Bangalore and Delhi in February, 2006. Trai also developed a code of practice for metering and billing accuracy in India in order to bring standardisation and transparency in the procedures being followed by various operators for greater accuracy. Trai had been receiving complaints on billing related matters. These complaints cover areas such as inability to verify the bills, not having clarity about the tariff scheme on which they are being billed, delay in refund and non-adjustment of credits in the bills among others.
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India, Bangladesh fail to agree on trade barrier issue
New Delhi, March 22 Though both countries agreed about the need of understanding “ common standards, opening of more trading routes, rail and water links, infrastructure upgradation for boosting trade, coordination between customs officials, cut in negative lists for trade, yet no formal agreement could be formally signed. The rift between the two sides came to the fore when Bangladesh Prime Minister and Indian Commerce and Industry Minister Kamal Nath addressed the industry captains, jointly organised by CII, Ficci and Assocham. Ms Zia openly said: “The ever-growing trade gap between India and Bangladesh is a matter of considerable concern for us… the traders in Bangladesh would particularly appreciate an improvement in land port facilities on the Indian side of the border.” A healthy growth of Bangladeshi exports to India will greatly help us sustain our substantial imports from India, she added. Allaying allegations of putting non-trade barriers, Indian Commerce and Industry Minister Kamal Nath said, “We have not put intentionally any non-trade barriers. If there is any, it is by default not by design” Later Bangladesh Finance Minister M Saifur Rahman disclosed that they had agreed with India’s proposal to operationalise the Sealdah- Jaiddevpur goods train link and other concessions. On trade barriers, he said: “There are some issues which can be decided by Indian Finance Minister, but he is in Parliament. I have urged the Indian Prime Minister, another economist, to improve economic ties between the two countries for the betterment of our people.” On alleged denial of transit route to India for Myanmar-India gas pipeline, he said, “We have not received any such proposal during the meeting,” but added that their government would take a decision on Tata’s proposal to invest $2.5 billion. Tatas’ steel plant project on Tata Steel said today its proposed 2.4 million tonne steel plant in Bangladesh was on track and hoped to settle all outstanding issues with Dhaka soon. The plant was scheduled to be completed in 2007. “Negotiations are on about the gas pricing and we are very happy with the positive attitude of the Bangladesh Government. We hope to start work on the Rs 6,000- crore project this year,” Mr B. Muthuraman, MD, Tata Steel, said. There were reports last year that the Tatas and the Bangladesh Government had not agreed on some contentious issues, which were delaying the investment.
— PTI
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Govt plans 12,000 MW through captive power plants
New Delhi, March 22 “Captive plants play a supplementary role, though an extremely useful one, in meeting the country’s power demand”, said Power Secretary R. V. Shahi said while inaugurating a one-day workshop on captive power plants. Mr Shahi said power available on demand was one of the top priorities of the government. He said after the enactment of the Electricity Act, 2003, there was a renewed interest in captive generation since the new Act provides for open access in a non-discriminatory manner. Accordingly, available surplus power from captive power plants can be fed into the grid and it is all the more important to make the power sector environment conducive to make this utilisation possible. The workshop, organised by the Ministry of Power and Central Electricity Authority in association with the Power Finance Corporation (PFC), discussed various issues relating to optimum utilisation of the captive power plant capacity. Representatives of Power Utilities, Central and State Electricity Regulatory Commissions, Captive power producers, power traders and manufacturers of equipment for captive power plants attended the workshop.
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Chidambaram to meet bank chiefs today
New Delhi, March 22 Significantly, Mr Chidambaram would be meeting the bank heads two days after he had announced the government’s intention to move towards the policy of full convertibility on capital account. In fact, the Reserve Bank of India has already set up a committee for deciding the road map for taking the rupee full float. RBI Governor Y V Reddy will announce the Credit Policy on April 18 that is expected to strike a balance between ensuring the healthy GDP growth of 8 per cent and retaining a cap on inflation. Meanwhile in an unrelated development, ICICI Bank today sold its entire 6.5 per cent stake in Kerala-based private bank, South Indian Bank (SIB), for Rs 30.3 crore.
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GM to withdraw Opel Corsa from Indian market
Kolkata, March 22 Launching the Chevrolet Aveo sedan here today, GM India Vice- President Ankush Arora said the company had already stopped the production of Opel Corsa. GM India would now focus more on the Chevrolet brand in India as it was doing well after the launch of Optra sedan and Tavera multi-utility vehicle (MUV). Mr Arora said Aveo had been placed in the C segment that included Hyundai Accent, Ford Fiesta and Honda
City. The car had been designed at four centres of the company in South Korea, Russelhiem, Michigan and China. GM India entered the market with Opel Astra and followed it up with Opel Vectra, both of which were subsequently withdrawn. Besides India, Aveo would be simultaneously launched in more than 140 countries in the world, including the European countries and the USA.
Toyota to hike Corolla, Innova prices
Toyota Kirloskar Motor (TKM) is considering an increase in prices of Toyota Innova and Toyota Corolla from April 1. However, customers who have booked the cars before the price hike will be delivered the vehicles at the old prices. The exact quantum of the increase is yet to be finalised,” said Mr Vikas Jain, Deputy General Manager, TKM, in a statement issued here today. Toyota Innova is priced between Rs. 671, 740 and Rs 1, 007, 260 (ex- showroom Delhi) while Toyota Corolla is sold between Rs. 992,600 and Rs. 1,218,290 (ex-showroom Delhi). — PTI, TNS
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MPs for reforms in coal sector
New Delhi, March 22 The standing committee on coal and steel in a report submitted to the Lok Sabha today has informed the government that “coal companies have a large surplus manpower and even after their best efforts not may people are willing to opt for VRS.” Coal India Ltd, which employs over 4 lakh employees despite offering VRS to over two lakh employees, has now urged the government to offer another liberal VRS. The government is considering its proposal. The Committee has recommended to the government to “explore the possibility of introducing some kind of a tapering pension scheme for separated workers.” It expressed concerned that though over 50,000 employees opted for VRS recently, the coal companies were still facing surplus manpower. Apart from a pension scheme, it has suggested the offer of shares in the companies as an effective alternative to VRS to reduce surplus manpower in the coal companies. Annoyed at the poor utilisation of heavy earth- moving machines by the companies, it expressed its ‘anguish’ to note that most subsidiaries of CIL had even failed to achieve the liberal norms fixed by the authorities. It led to lower coal production and adversely affected the “ profitability of CIL”, besides forcing it to outsource its work. The committee urged the government to draw up an action plan with clear-cut demarcation of accountability and responsibility of the officers concerned for improving the fleet utilisation.
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Voltas plans 3 units in Uttaranchal
Kolkata, March 22 Vice-
President (Marketing) K J Jawa said in the wake of tremendous economic uplift of rural Indian people the company had decided to introduce a unique home airconditioning product of a little less than one tonne capacity at a cost of Rs 9,990 per unit for the common household. While the first of the three plants for manufacturing commercial refrigerators would be ready for production by June, the second one for domestic airconditioners would start production by November while the third unit for other industrial airconditioning systems would be onstream before year-end . The total production capacity of these three plants would be about 300,000 units per annum, he said.
— UNI
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Sebi bar on Lalit Dua’s recommendations
Mumbai, March 22 Mr Lalit Dua used to provide recommendations on www.indiainfoline.com. Sebi alleged that Mr Dua used to disseminate favourable reports in media on a frequent basis projecting a bright future of companies whose shares are thinly traded. “The website www. indiainfoline.com has a responsibility for exercising due care and diligence to ensure that persons with proven credentials of giving far and truthful information and analysis alone are allowed to give advice on the portal to avoid misuse by persons giving advice purely on considerations of personal gains “ it
said. — PTI
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Barclays forays into corporate banking with $70 m
Mumbai, March 22 The UK-based bank, which has invested $150 million over the past few months to support investment banking business growth, is hopeful of strengthening its presence in the country following talks with the regulatory bank for corporate banking business. Having operations in India for almost 30 years, Barclays confined itself mainly into investment banking and risk management services. However, the bank, which finds India “a hugely attractive market”, coupled with effective government regulation, would look at organic growth in the country. Meanwhile, the bank would recruit around 150 persons over the medium term to streamline its corporate banking business, Barclays plc board member David Roberts said here.
— PTI
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Intex forays into notebook segment
Chandigarh, March 22 Announcing the all-India launch of four laptop models here today, Mr Narinder Bansal, Managing Director, said as the year- over- year growth in the notebook segment was 100 per cent, the company had decided to go into this segment. “We are already well- entrenched into the PC segment, which was growing just by only 25 per cent. We plan to capture 10 per cent of the total notebook market by the end of 2006-07,” said Mr Bansal. The company was going into consumer electronics like DVDs and CD-R, and other consumer durables like speakers, subwoofers, cabinets, keyboards etc.
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HeidelbergCement inks pact with Indorama
New Delhi, March 22 “The cement grinding plant in Mumbai is our entrance gate to India,” said Dr Bernd Scheifele, Chairman of the Managing Board of HeidelbergCement. “Step by step, we intend to expand our activities on this very promising market. The joint venture in India is in line with our strategy to invest specifically in growth markets,” he said. HeidelbergCement produces a wide range of building materials including cement, ready-mixed concrete, concrete products, aggregates, as well as dry mortar, lime, sand-lime bricks, and building chemicals. With a cement sales volume of approximately 65 million tonnes, HeidelbergCement belongs to the largest cement producers worldwide. HeidelbergCement currently employs around 42,000 persons across Europe, North America, Asia and Africa. The Indorama plant, which was built in 2000, has a cement capacity of 7,50,000 tonnes and is in very good technical condition. It has an excellent market position in the vicinity of the big markets of Mumbai and Pune. Blue Dart aircraft
Blue Dart, south India’s largest integrated air express, courier and logistics company, will add two more aircraft by June to augment its capabilities from the present 166 tonnes per night to 250. Addressing newspersons after commissioning its new superhub facility in the city here, Company Managing Director Malcom Monterio said air express was a core competence area of Blue Dart and to support this business model, it had decided to add two more aircraft to its existing fleet of five Boeing 747. He said Blue Dart was ideally placed with its well knit air and ground capabilities to serve the trade and commerce sector in the country. Mr Monterio said with Bangalore developing into an important hub for services and manufacturing sector, the new facility would be of great use to the customers. Blue Dart had plans to add 45 new facilities to its existing 217 facilities across the country to pad up 166 tonnes of shipment to 250 by this year-end.
Ansal, Faber jv
Delhi-based Ansal Properties and Infrastructure Ltd has formed a joint venture with Malaysia’s Faber Group BHD to provide healthcare facility management services. Ansal will hold a 49 per cent stake in the new company — Faber Star Facilities Management Pvt Ltd — while the Malaysian firm will hold the remaining 51 per cent. Facilities offered by the new company include clinical waste management, biomedical engineering management and wellness support services. Meanwhile, the group also announced to invest Rs 100 crore in real estate in Haryana, once it gets approval for setting up an integrated township from the state government.
Samsung SlimFit TV
To boost the flat TV market in India, Korean home electronics major Samsung today announced it will begin production of its patented ‘SlimFit’ TV in India. “Based on new launches from manufacturers like us, we are expecting the SlimFit category contribution to grow to 10-12 per cent of the total Flat TV market in India,” Samsung India Deputy Managing Director R. Zutshi said. The company will manufacture the 21-inch SlimFit television model at its facility in Noida. With the introduction of the new 21-inch model, Samsung’s SlimFit range of 21, 29 and 32 inches are now available at price tags between Rs 11,990 and Rs 69,990.
KLM Airlines
Looking to capture corporate travellers in India, KLM Royal Dutch Airlines today announced the launch of BlueBiz, a loyalty programme for non-contracted companies in India. KLM Northwest General Manager (India) Warner Rootliep said BlueBiz offered corporates a rewarding scheme, which enables them to earn Blue Credits on every flight with KLM or participating partner airlines and redeem their credits for any ticket of their choice. BlueBiz had been specially designed for corporates who did not have a contract with KLM. To promote the usage of BlueBiz in India, KLM is offering an early bird bonus of 3,000 Blue Credits to members enrolling before May 1. KLM currently offers 17 weekly flights from India with its alliance partner, Northwest Airlines, including a daily flight each from Delhi and Mumbai to Amsterdam and a thrice-weekly flight from Hyderabad to Amsterdam.
Thistle Hotels
UK-based hospitality chain Thistle Hotels is firming up plans to enter the Indian market with its premium international brand, Guoman Hotels. Thistle Hotels Area General Manager Sanjay Nijhawan said here that “We will set up hotels in three to four cities in one go and the hotels would cater to the upper end of the market.” The company was looking at both options of greenfield projects and acquisitions in India.
— TNS, Agencies
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New
Delhi, March 22
