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| Friday, June 9, 2000, Chandigarh, India   
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US government plans to
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Balkan products THE European Commission on Wednesday decided to propose an extension of the existing EC autonomous trade preference for Western Balkan countries. Remove toll tax, says Haryana
Judge slaps breakup order on Microsoft WASHINGTON, June 8 (AFP) — A US Federal Judge has slapped a far-reaching breakup order on Microsoft that the government and software industry officials hailed as a major step toward restoring competition to the US high-tech
market. But an unrepentant Bill Gates, Microsoft’s multi-billionaire chairman and founder, vowed to challenge the ruling, which came yesterday, and predicted victory over the Justice Department in a lengthy appeals process. “This is the beginning of a new chapter in this case,” Bill Gates declared. “We have a very strong case on appeal and we look forward to resolving these issues through the appeals process and putting this case behind us once and for all.” After 20 months of arguments and counter-arguments, US District Court Judge Thomas Penfield Jackson came down resoundingly on the side of the government, adopting its recommendation that Microsoft be split in two as punishment for having abused its monopoly. “Following a full trial Microsoft has been found guilty of anti-trust violations, notwithstanding its protests to this day that it has committed none,” the judge wrote in a memorandum accompanying his final order. The court “has also reluctantly come to the conclusion... that a structural remedy has become imperative: Microsoft as it is presently organised and led is unwilling to accept the notion that it broke the law or accede to an order amending its conduct.” With that, Mr Jackson said Microsoft would have to be broken up into two competing entities, one to develop the Windows operating system and another to promote software applications — notably the Internet browsing technology. The judge also imposed restrictions on Microsoft’s business relations with computer makers designed to prevent it from punishing manufacturers who promote/rival software technology and rewarding those who marketed Microsoft software products. Mr Jackson said his order would take effect three months from yesterday, barring a stay pending appeal, and would last 10 years. Microsoft now has four months to put forward its own reorganisation blueprint, after which the government will have 60 days to respond. Microsoft would then a get month to comment on the Justice Department’s response. Once a final plan is adopted by the court, the company would get a year to implement it. But such a timetable could be upset by a Microsoft appeal, which must be filed within 60 days. |
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PSB net
profit rises 9 pc NEW DELHI, June 8 — Punjab and Sind Bank has registered a growth of more than 9 per cent in its net profit which increased to Rs 61.44 crore from the figure of Rs 56.20 crore last year. The total deposits of the bank increased from Rs 9496.60 crore to Rs 10,555.98 crore as on March 31, 2000, the general manager of the bank, Mr H.S. Dugal, announcing the audited results of the bank said. The advances of the bank increased from Rs 4380.76 crore to Rs 5067.58 crore, showing an increase of 16.21 per cent. The investments of the bank increased to Rs 4809.02 crore from Rs 4273.61 crore. It marked 89.28 per cent of its investments to market as against the minimum requirement of 75 per cent fixed by the RBI. The capital adequacy ratio of the bank was 11.57 per cent this year as against 10.94 per cent during last year. This is well above the stipulated norm of 9 per cent fixed by the RBI. The net NPAs of the bank reduced to 9.39 per cent of net advances this fiscal as against 10.48 per cent during last fiscal. |
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US government plans to
knock WASHINGTON, June 8 — The US Government plans to ask the Supreme Court to directly review the landmark anti-trust case against Microsoft Corp, in a step aimed at quickly resolving the legal battle, a top Justice Department official said. Right after judge Jackson ordered the software giant split in two, and minutes after Microsoft said it would appeal, assistant Attorney General Joel Klein said the Federal Government has decided to seek review by nation’s highest court. The move would bypass the more conservative US Appeals Court, which has sided with
Microsoft in earlier rulings, and would contribute “to a quick and effective resolution of the case,” Mr Klein told a news conference. Legal experts doubted the Supreme Court, which tends to move slowly and only recently launched a website with its rulings, would want to hear the case immediately before the appeals court considers it. In Seattle, Microsoft chairman Bill Gates said the company would appeal the judge’s ruling. But Microsoft wants the case heard by the Appeals Court first. Mr Bill Neukom, Microsoft’s general counsel, said he expected the appeals process to last for several months or possibly more than a year, depending on how events unfolded. It is widely regarded to be in Microsoft’s interest to postpone any breakup for as long as possible. The Supreme Court can either grant the government’s request, which still must be certified by judge Jackson, or the court can order that the case be heard by the US Appeals Court instead. Saying Congress recognised the importance of such cases in allowing direct appeals to the Supreme Court, Mr Klein listed some reasons why the top court should decide the dispute. “A matter of this consequence, involving serious market implications and a major company, should, one, benefit from Supreme Court review and, two, should benefit quickly so that the expectations can be settled, the remedy can go forward and the industry can move on,” he said. |
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TiE chapter for Chandigarh NEW DELHI, June 8 — The association of successful IT professionals in the USA. The Indus Entreprenuers (TiE), who have acted as angel investors and venture capitals for the growth of many dot com companies will soon open a Chapter in Chandigarh. “The TiE Chapter in Chandigarh will become a reality soon,” the founder President of TiE, Atlanta chapter, Mr Jay Chaudhry told The Tribune here today. Mr Chaudhry is here on a fact finding mission to identify successful IT entrepreneurs and professionals in the northern region. “The opening up of a TiE chapter will boost the growth of entrepreneurial skills in the region and the funds will form venture capitals and angel investors will help in transforming idea into business propositions,” he said. Mr Chaudhry is the boy from Una district, Himachal Pradesh, who went to the USA with $ 200 in his pocket and today his companies are worth millions of dollars. “Once the TiE chapter comes up in Chandigarh, the fund generation will not be much of a problem,” he added. He said TiE has been acting as a incubator for several dot com ventures with initial seed investment, angel investor and venture capital. He said the software technology park in Mohali has immense potential to emerge as a competitor to Bangalore, Hyderabad and Chennai. “With its ideal location and serene sitting, the software technology park in Mohali can attract well-known players in the IT industry,” he said. The TiE Atlanta chapter President, who held talks with the Union Minister of Consumer Affairs and former Chief Minister of Himachal, Mr Shanta Kumar, said several suggestions were given to him to enable the state take a leap in the IT sector. Mr Chaudhry is expected to meet senior officials in the Himachal Government during his visit to the state later this week. He said the state government should provide infrastructure facilities like road, buildings, uninterrupted power supply and Internet connection. “The state government can also act as incubators for several IT ventures,” he said and pointed out the role played by federal governments in the USA. “Those government provided the basic infrastructure, seed capital and later they took equity in those IT venture,” Mr Chaudhry said. Stating that India finds itself in a crucial juncture to take advantage of the IT revolution, Mr Chaudhry said the state governments should take measures to strengthen the knowledge base the professionals. The
curriculum of technology subjects will be upgraded to keep in tune with the changes in the field, he said. “The government will either open up new colleges or enter into partnership with private entrepreneurs to set up institutes for the growth of knowledge in the high end sectors,” he said. Mr Chaudhry pointed out the funds to the tune of $ 50 million has been collected by the TiE for setting up the Indian School of Business in Hyderabad. |
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Centre questions Punjab cess’s legality CHANDIGARH, June 8 — The Punjab Government’s decision to levy cess at the rate of 1 per cent, ad valorem, on petrol and all agricultural produce (excluding fruits, vegetables and pulses) has run into a rough weather. It was calculated that the cess, being collected through the department of Excise and Taxation since November 1998, would fetch Rs 100 crore, approximately, per annum. This money goes into the Punjab Infrastructure Development Fund (PIDF) with Rs 20 crore kept apart for a corpus fund. The cess in respect of agricultural produce is payable by the purchaser. The Food Corporation of India, however, has opposed this. It has even gone to the High Court. The FCI “owes” over Rs 35 crore for just two quarters, while five quarters have passed. The snag is that the Union Minister of Consumer Affairs and Public Distribution, Mr Shanta Kumar, has communicated to Punjab Chief Minister, Mr Parkash Singh Badal, that the cess imposed to raise money for the PIDF was “legally not tenable”. He has asked him to consider withdrawing the same. This was in response to a letter Mr Parkash Singh wrote to him on the payment due from the FCI. Informed sources told TNS that the Union Minister has in his reply quoted from the earlier communications and also conveyed the opinion of the Additional Solicitor General of India on the subject. In so far as
the infrastructure blueprint, the Chief Executive Officer of the Punjab infrastructure development board (PIDB), Mr C. Roul, told TNS that while certain amendments to the existing Infrastructure Development Act were proposed, technical experts have been commissioned to prepare project development reports in respect of the following: Four-laning of Chandigarh, Ludhiana and Ludhiana-Moga road; Integrated project of a high-level bridge over the Sutlej between Machhiwara-Rahon and a railway overbridge at Khanna besides upgradation of
Khanna-Samrala-Macchiwara-Rahon-Nawanshahr road; Four-laning of Ropar-Phagwara road; and construction of bypasses at Ropar, Ludhiana,
Nawanshahr, Banga and Phagwara. The other project pertains to constructing bus terminals at Amritsar and Jalandhar. Mr Roul explained that the project reports should be ready by September next following which bidders would be invited. The works would be on Built-Operate- Transfer basis for the private investors. In case projects are to be executed by a state agency , it shall be on EPC-Engineering, procurement and construction and or on OM-Operation and maintenance basis. Referring to the proposed amendments in the Act, Mr Roul said that these pertained to constituting a Regulatory Authority and drawing up standard processes for involving private sector in infrastructure development. “A major thrust will be on ensuring financial closure before any works is contracted out. Moreover the Board will have constant interaction with strategic consultants and specialists in the field of infrastructure”, he added. Mr R.C. Sinha , a retired IAS officer of Maharashtra cadre is expected to join the Board as MD. At present the major exercise is to “codify” all functions of the Board under the Act and prepare ground for launching of the infrastructure development to uplift the agro-industrial economy of the state. So careful has been the CEO of the Board that a set of alternative proposals is also being prepared for the political executive to ensure funding of the projects conceived. |
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Remove toll tax, says Haryana NEW DELHI, June 8 — The Haryana government has urged the Centre to arrange police patrolling on highways, abolish toll tax imposed by the Delhi Development Corporation on all categories of vehicles and withdraw the amendment made to Section 166(II) of the Motor Vehicle Act, besides reconsidering the composite fee scheme initiated for tourist vehicles. The Haryana Transport Minister, Mr Ashok Kumar, who was speaking at the 29th meeting of Transport Development Council here today, urged the Centre to remove toll tax due to which the Haryana Transport department had to pay an amount of Rs 2.5 crore annually to Delhi. The minister said the amendment suggested to Rule 139 of the Act needed to be reviewed. The matter of keeping coloured photostat of the original registration documents in the vehicles was becoming a serious problem, since these copies were as good as the original and could mislead the officials. If attested copies were allowed to be kept in the vehicles, then the very purpose of challaning the vehicle was lost. Moreover, this would also increase the probability of one registration number being used by a number of vehicles, he said. Mr Ashok Kumar also expressed concern about the composite fee scheme for tourist vehicles which had been started by the Centre at the request of the Transport Department. He said tourists did not gain anything since all these buses were being plied on a ticket basis. When the local officers challaned and impounded such vehicles for not carrying
valid permits, it led to a lot of inconvenience to tourists. The minister requested the members to give a second thought to this scheme and abolish it or alternatively charge such buses as much as was being charged for the normal ones. The amendment to the Act in 1994 should be repealed as claims were being filed from far away places due to which the state government had to bear a lot of expenditure and inconvenience. He said the old system through which claims could be made,
within the area of accident should be re-established.
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THE European Commission on Wednesday decided to propose an extension of the existing EC autonomous trade preference for Western Balkan countries. Trade promotion and co-operation is one of the core elements in the European Union (EU) policy towards the Western Balkans, which is embodied both within the EU Stabilisation and Association Process and the Stability Pact for South-Eastern Europe. It is proposed to abolish remaining tariff ceilings for certain industrial products from Albania, Bosnia and Herzegovina and Croatia and to improve market access for agricultural products, to extend these preferences to Kosovo, to grant tariff quotas for Montenegrin aluminium products and to streamline all trade preferences in a single new regulation, according to a communication from the Trade Directorate-General of the European
Commission.
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A $10,000 tip for her CHICAGO: Lucky waitress, Melanie Uczen, got just what the doctor ordered —a whopping $ 10,000 on a $ 10 bar tab. A doctor with a British accent left her the enormous tip after buying a round of Long Island ice tea drinks while out with two friends at The Leg Room, an exclusive lounge in Chicago. “I got a good tip for good service,” said Melanie. The cocktail waitress said that she told the man she wanted to go to graduate school after getting a bachelor’s degree in therapy recreation and psychology from Illinois State University. “He said that he worked hard for where he’s at and I said that I have worked hard for where I am. He said, ‘Good for you’,” said Melanie (23). The man wrote out the $10,000 tip on his credit card slip, said Melanie. “He was a nice guy, good looking, a good dresser — a real gentleman.” The lounge’s manager checked with the credit card company and the tip cleared, but for privacy reasons, declined to identify the tipper. — Reuters Online intellectual
capital exchange NEW DELHI: A US-based online intellectual capital exchange, claiming to be the first of its kind, will enter the Indian market offering specific capabilities necessary for a virtual intellectual exchange. Called the hellobrain.com the online company will be leveraging India’s IT talent pool to meet global demand for intellectual capital based R and D market said to be worth $ 40 billion in the USA this year alone. Founded by CEO Bharat Sastri and CTO Joseph Tung, the company has received venture funding from Redpoint Venture, Brentwood Venture Capital, Accel Partners and the Intel 64 Fund to the tune of $ 33.5 million to date.
— UNI Learn basics from
Krishna, Mr Naidu NEW DELHI: A Rajya Sabha member, Dr Y Laxmi Prasad, has advised Andhra Pradesh Inc CEO Chandrababu Naidu to learn the basics of attracting investment from his Karnataka counterpart, S.M. Krishna. Dr Prasad points out that despite Naidu’s globe-trotting, holding lunchon meeting with 22 Ambassadors in the Capital and inviting President Clinton to Hyderabad the total investment in Andhra Pradesh has come down from Rs 6700 crore in 1998-99 to Rs 3500 crore last year. As against this, the Karnataka Chief Minister, without any fanfare, has managed to attract Rs 8,000 crore worth investment through MoUs signed during the two-day global investors’ meet organised at Bangalore.
— UNI |
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Sony website Bankers meet PFA rules
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