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| Saturday, August 26, 2000, Chandigarh, India   
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‘India to be next success story’ NEW DELHI, Aug 25 — In an out-of-court settlement, Dabur India Limited (DIL) has divested its entire 40 per cent stake in the controversial joint venture Excelcia Foods with Swiss major Nestle SA for a token amount of Rs 10, thus exiting the biscuits business altogether.
‘Downsize PSUs’ 16 lakh hooked to Net HRTC receives award |
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Punwire inquiry begins
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‘India to be next success story’ SINGAPORE, Aug 25 (AFP) — A technology-driven India will be Asia’s next economic success story after China, a leading US economist said today. “The chances for quite dramatic economic developments in India are quite strong,” said Jeffrey Sachs, Director of the Centre for International Development at Harvard University. “India has that extra-special edge which is going to mean a special dimension in its catching up growth because it has technology ... A special capacity to absorb high
technology very, very quickly,” Sachs told a conference organised by Strategic Intelligence, a leading Asia-based business research firm. India is “15 years behind the China story,” he said. While massive poverty remains a problem in India, the country of about one billion people does have a pool of world-class scientists and engineers who could provide the cutting edge. The north of the country — which has about 200 million people — is now opening up as the base of an export-led economy. Singapore, which despite its size has emerged as an Asian hub, was in a position to help its giant neighbour build an efficient infrastructure to attract foreign investors. “There is a natural
complementarily between Singapore and India,” said Sachs, who has advised former Russian President Boris Yeltsin and helped Poland in its transition to a free-market economy. |
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Dabur sells stake in Excelcia for Rs 10 NEW DELHI, Aug 25 (PTI) — In an out-of-court settlement, Dabur India Limited (DIL) has divested its entire 40 per cent stake in the controversial joint venture Excelcia Foods with Swiss major Nestle SA for a token amount of Rs 10, thus exiting the biscuits business altogether. This is a major climbdown for the healthcare major since it held price negotiations with Nestle for over six months and reportedly valued its stake at $ 5 million before agreeing to hand over its stake in Excelcia to Nestle SA virtually for free. “Since the company (Excelcia) had accumulated losses amounting to Rs 25 crore and a resultant negative growth, the 40 per cent shareholding (of DIL) is being transferred to Nestle at a token value of Rs 10,” Dabur’s annual report on its financial performance for 1999-2000 says. Dabur had dragged Nestle SA to the Company Law Board (CLB) in March this year alleging mismanagement of Excelcia and asked the board to appoint an independent administrator superceding the existing Board of Directors of Excelcia. The petition had also sought an undertaking from Nestle SA for non-competition agreement for a period of five years, under which the latter shall not compete with Excelcia in the same business. In its annual report, Dabur says that after the transfer of its 40 per cent stake in Excelcia, “there is no further liability on Dabur and Nestle will run the company and assume all the liabilities outstanding in the company”. “Dabur has no plans for re-entering the biscuits market in the near future and is concentrating on its core businesses,” the report said adding this was in line with the company’s strategy of exiting from non-core areas and devoting management time as well as resources to core businesses. “On an overall equity investment of Rs 5.6 crore in Excelcia, Dabur realised Rs 10.5 crore when it sold 20 per cent stake to Nestle SA in 1998-99 and had also realised its unsecured loan of Rs 5.5 crore. |
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Charity? No thanks. Money is for dad CALCUTTA, Aug 25 — For Ramesh Dubey, the Rs 50 lakh he won was just a bonus! The Calcutta resident had gone for the Kaun Banega Crorepati (KBC) show simply to meet his idol and show host Amitabh Bachchan. And that was one jackpot he certainly didn’t miss. “Not the quiz nor the money, but Amitabh Bachchan was what I watched out for in KBC. I am his fan though I don’t see that many Hindi films nowadays,” said Dubey, who has become a celebrity overnight by winning the biggest amount on the quiz show till date. Dubey, (33) owns a family business of sarees and has three shops in the city, including one in the upmarket Park Street area. His nonchalance where money is concerned is understandable because the Dubeys’ business turnover is said to be upwards of Rs 1 crore every year. Perhaps, this too was the reason why Dubey had no remorse in not winning the maximum prize of Rs 1 crore. Originally from Mirzapur in Uttar Pradesh, Dubey has never participated in a quiz. “I have never taken part in any quiz, and I dialled in to participate in the programme as I wanted to meet Bachchan. “Once I was selected in the phone-in round, I was called for the shooting between August 14-16. That left me with 20 days to prepare. I borrowed some general knowledge books like Manorama Year Book and Bournvita Quiz Book from a friend’s daughter,” Dubey said. The lucky man spent about six hours every day, mugging answers from these books. “I read at the shop,” he said. Dubey, who admitted that he did not expect to go beyond the Rs. 5,000 level, was pleasantly surprised when he found himself sailing ahead. He answered confidently until the last hurdle. The poser that did him in was: “Which Indian footballer scored the first hat-trick in Olympics?” Unwilling to depend on his luck, and with no lifeline left, Dubey withdrew. Today, he has more people streaming into his Park Street shop but most of them aren’t customers. “People are coming in to see me. It is so embarrassing,” Dubey said with a smile. Asked what he felt like winning such a huge amount, Dubey said, “I am happy. I won it without even lifting a finger. But the satisfaction would have been more had I made the money from my business.” Then came the obvious question: what will he do with the money? Initially reluctant, he said: “I will give it to my father.” Dubey has no pretensions about spending the sum on any charity. “So far there is no plan to give any money to charity,” he said. Once news of his son’s feat came in, Dubey’s father Ramji and the whole family erupted with joy. His children are preparing lists of what they want to buy. But the star of the show is extraordinarily unmoved. —
IANS |
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‘Downsize PSUs’ NEW DELHI, Aug 25 — There is a need for downsizing the manpower in public enterprises on the lines of Japan and other developed countries, according to Mr Rajendra Singh, former CMD of NTPC. Addressing a seminar on managing contract labour organised by the Standing Conference of Public Enterprises, he said the latest trend worldwide about employment was to pay more but no lifetime employment.The emphasis is on performance related payments. Japan does not provide lifetime employment. The owners pay more to the employees but no lifetime employment. Even employees prefer to switch over to better opportunities. Talking about the management of contract labour, he said the managers have to manage within the framework of the law as is existing at present. However, he felt that the law has to be rewritten in the context of global competitive environment based on the facts and experiences. Till that time, the solutions have to be found out by the managers themselves as they cannot depend upon the law and interpretations given to it, he added. |
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16 lakh hooked to Net CHANDIGARH, Aug.24— Expressing satisfaction over the Internet penetration in India, the Department of Telecommunications has claimed that the liberal government policies which include allowing satellite gateways to the Internet service providers (ISPs) have led to the Internet revolution which is reflected in tremendous growth in the number of net subscribers within the last six months. This number has risen to 16 lakh from a meagre of 6.5 lakh in June, 1999,said Mr. Jayant Kumar, Director, DoT, while speaking at a seminar on “Connectivity ,Intra and Internet” which was organised by the CII in association with HARTRON here
today. The seminar was attended by several software and IT companies all over India . Commenting on the much- debated Internet telephony , he said it was not good to allow it at present .On the problems being faced by the ISPs, including excessive tariff rates, he said since their is no restriction on the fixation of the tariff rates, these are expected to reduce substantially with the increase in competition. Assuring full co-ordination by the government to the ISPs, Mr. Jayant Kumar said whatever resources are asked for by them will be provided within 30 to 45 days .As many as 34 ISPs have been permitted to set up 120 gateways. Mr Suresh
Kumar, senior consultant, Netscentric Solutions NIIT gave a presentation on
Intranet." Use of Intranet removes the biggest disadvantage of the Internet which is the absence of
secrecy. It increases the efficiency as well as productivity of an organisation “,he said Mr. K.S.Shivkumar ,Chief Operating Officer, Cybermate Infotech, and Mr.Robert J
Walcott, senior consultant ,Baltimore Technologies, spoke on Internet securities . Meanwhile nearly 20 IT companies is also organising an exhibition in the CII premises. |
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HRTC
receives award NEW DELHI, Aug 25 — With a revenue gain of Rs 10.90 crore in the past four months, reduction in accident rates and introduction of better buses including a deluxe bus on the Leh-Delhi route, the Himachal Road Transport Corporation (HRTC) is poised to turn a new leaf. Talking to mediapersons here, state Transport Minister Kishan Kumar, who was awarded National Productivity Council Award here yesterday for HRTC’s performance, said that the corporation had introduced several innovative schemes including medals and rewards for drivers for accident-free record, smart card and incentives for group travellers. While Chief Minister’s gold medal along with Rs 21,000 is given to the drivers who have accident-free record for 15 years, silver medal and Rs 10,000 is given to those who drive safely for 10 years. Besides upgrading the fleet with better seats, the corporation is also giving a major thrust to improvement of bus stands. Foundation stone of a new bus stand, to be built at a cost of about Rs 60 crore, would be laid by the Chief Minister at Tuti Kandi, Shimla next month, the minister said. Elaborating about the schemes, the minister said that a group of four to nine passengers was being given discount of 10 per cent while a group of 10 or more passengers were being allowed a discount of 15 per cent. A discount of 10 per cent was also being given on return tickets. |
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Punwire inquiry
begins CHANDIGARH, Aug 25 — Justice H.K. Sandhu of the Punjab and Haryana High Court has started an inquiry into the affairs of Punwire. Mr S.K. Sharma, Chairman of Punwire, said here today that the inquiry officer had invited complaints from employees and the public regarding any allegation and facts in their knowledge about
regarding any allegation and facts in their knowledge about the working of Punwire.
He said the terms of reference of the commission were very wide and include all cases of omission or commission by any employee or official connected with the management or affairs of the company. Pricewater House has audited the Punwire accounts for the last five years. On the basis of its report, the Board of Directors had filed 14 criminal cases against a former Managing Director of Punwire, Mr Gurpal Singh, its Executive Director, Mr Ved Parkash, and others. Mr Gurpal Singh is absconding and efforts are being made for his extradition from the USA. Mr Sharma said Punwire was now under the direct supervision of the Punjab and Haryana High Court through the provisional liquidator. The PSIDC had no control over its affairs nor can it dispose of its assets or meet its liabilities. |
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12 firms to set up base in Australia CALCUTTA, Aug 25 (PTI) — Twelve Indian information technology majors have decided to set up a forum for consolidating their business in Australia, a senior official of the Australian Trade Commission
(Austrade) has said. This follows a recent study of Ernst and Young which highlighted the opportunities in IT in the two, countries and suggested synergies between the two to leverage each one becoming more competitive in global marketplace.
Austrade’s business development Manager Tridibesh Bandyopadhyay told PTI that the Indian IT majors had either opted for offshore development or work through agents in their quest to grab the Australian market ever since the potential of the two nations became known. HCL Comnet to open 150 outlets NEW DELHI, Aug 25 — Almost all the major towns of Punjab and Haryana would soon have high speed Internet access with the setting up Internet service outlet by a leading Indian
company. HCL Comnet, the subsidiary of Indian IT, HCL Technologies, is setting up about 150 Online Zones or Ozone in Punjab, Haryana and Chandigarh. “The outlets would have Internet access via satellite and would provide value added e-commerce services,” Mr Vineet
Nayar, President and CEO of HCL Comnet said. Mr Nayar said the outlets would be the hub for all Internet related activities in each town and would be located in prime commercial locations across the city. Access to various online facilities such e-commerce, Internet trading, vending machines and ATM counters would be available at these outlets. “The Internet is changing the way individuals communicates, access information, make purchase decisions and it also impacts the way business is conducted worldwide,” he added. NEW DELHI, Aug 25 (UNI) — The Hindi-speaking community will now have an assess to the vast IT content and will be able to key in 17 Indian language and register domain names in the equal number of languages by January 2001. This was stated here today by Nasscom President Dewang Mehta while inaugurating the Hindi edition of Cyber India Online Limited
(CIOL) http://hindi.ciol.com. The content on the portal covers money and market, news and features, subroto speak, technology, revenues, IT bill, digital life and at home. These sections will offer a wide range of information, from news to introduction to latest
technologies.
Tenderexpress NEW DELHI, Aug 25 (UNI) — Coolstartups web-based technology focussed investment bank, has picked up a 26 per cent stake in
tenderexpress.com. A part of Net Express Software Solutions. The site arms to extend its services into a
virtual market space for industrial
products. Tenderexpress.com is positioned as a platform for interaction between public and private sector enterprises and supplier community. The site provides tender information service.
Mascot, RCC tie-up BANGALORE, Aug 25 (PTI) — Mascot Systems Ltd today announced a three-year contract with Royal Caribbean Cruises Ltd. to provide applications maintenance outsourcing for the cruise line’s reservation system. A company release said here the $ 3.8 million project consists of two phases. Mascot Systems will provide IT maintenance and support for Royal Caribbean’s external booking products, internal individual and group reservations and guest accounting systems. In addition, Mascot will maintain and support the company’s air/sea tours, sales, tour planning and inventory control systems.
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Horse on the menu LONDON: Xavier Claustres, proud patron of the tiger and the frog claims to be the only restaurant in Britain with horse on the menu. The French restaurant began serving horse in May to those customers willing to sample a meat that has been taboo in Britain since before World War II. “It is a terrifically lean meat, very rich in glucose and iron which gives if flavour, and very tender,” said the owner. “It has been most popular. People who are a little adventurous, who want to try something new, try it and they never complain”. The British attitude to horse meat is at odds with much of continental Europe. In Belgium, Germany, Russia and France, horse is eaten. There is a thriving horse meat export market in Britain, with a dozen horse abattoirs, and British horses find their way to dinner tables across Europe. — The Guardian.
Madonna wants her site back GENEVA: Pop star Madonna has lodged a complaint with the United Nations to gain control of the Internet domain name madonna.com. She has asked the World Intellectual Property Organisation, or WIPO, to order the handover of the site, which is owned by New Jersey entrepreneur Dan Parisi, who runs a pornography site. Anyone can register a domain name for a few dollars, which has led “cybersquatters” to file for famous names in order to make a fast buck from those who want the names. Some Internet domain names are worth millions of dollars. The WIPO system allows those who think they have the right to a domain to get it back without having to fight a costly legal battle. Parisi, who previously used the website for pornographic material but has now removed it, claims that Madonna, whose full name is Madonna Ciccone, has no more right to the domain name than anyone else with the same name. “She was named after the Virgin Mary as was her mother and hundreds of thousands of other people throughout the world over the past 2,000 years,” he said in a statement on the website. “We do not believe that because Ms. Ciccone named her act after the Virgin Mary that gives her the right to stop any other party from using the word ‘madonna’ as a title of their website.” Parisi fought a long legal battle to hold on to another web address - a pornographic site at a web address similar to the official one for the White House.—AP
Gay man wins TV contest WASHINGTON: The Olympics may be just around the corner, and it may be a presidential election year, but the only contest ordinary Americans were talking about yesterday was the one that was won on Wednesday night by the naked gay guy. In the summer of 2000, Survivor has been to America what Big Brother has been to Britain - the cult voyeur television show of the year, a compulsive national talking-point, and a heaven-sent media opportunity to fill up the silly season. But while Nasty Nick got his comeuppance in mid-series on Big Brother last week, when the massively hyped final episode of Survivor was broadcast it was The Man America Loved to Hate who emerged from a desert island in the South China Sea as the last contestant standing and the winner of the show’s $1m first prize. Right from the opening episode in May, when the 16 hopefuls landed on Pulau Tiga island off the coast of Borneo, Richard Hatch was Survivor’s demon king. Each week, as the remaining contestants voted to banish one of their number from the island, it was Rich - as he has become universally known - who pulled the strings, schemed the alliances, and plotted his way towards this week’s final triumph. Rich grabbed the headlines with his penchant for on-screen nudity, for his openly gay sexual identity, and above all for his masterly manipulative performance on the island, always seemingly two steps ahead of his rivals. The show’s catch-phrase, “The tribe has spoken”, has replaced Who Wants to be a Millionaire’s “Is that your final answer?” as the television trope of the moment. —
The Guardian |
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Eicher Demm CHANDIGARH, Aug 25 — The National Productivity Council (NPC), New Delhi, has conferred on Eicher Demm, Parwanoo, the second Best National Productivity Award for the year 1998-99. The award was presented by the Vice-President of India, Mr Krishan Kant, at a ceremony held in Delhi yesterday. The award was received by Mr B.C. Sachdev, General Manager of the company.
IACM centres NEW DELHI, Aug 25 — An institute with a networking vision or IACM, is setting up educational centres in Amritsar and Ludhiana. The institute, which has tie ups with Novell, Lotus, University of Cambridge, is imparting the knowledge of IT and networking.
Gold bond NEW DELHI, Aug 25 (UNI) — The Government has extended till September 2001 delivery of gold towards repayment of gold bonds, 1998 at specified branches of State Bank of India as per the option exercised by the holders at the time of investment.
IFFCO NEW DELHI, Aug 25 — Indian Farmers Fertiliser Cooperative Limited’s (IFFCO) Kandla unit has won the “best productivity award” for the year 1997-98 in the category of fertiliser industry.
NFL gets award NEW DELHI, Aug 25 — The Bathinda unit of National Fertilisers Limited (NFL) has bagged the National Productivity Council’s Certificate of Merit Award for the year 1997-98 in the category of fertiliser industry.
Telco const CHANDIGARH, Aug 25 — Telco Construction Equipment Company Limited today launched TATAJD 315SE Backhoe loader. Manufactured in collaboration with John Deere International Equipment Ltd. at their Jamshedpur plant, the machine is powered by 92 hp turbo engine and will travel upto 40km per hour.
Kodak NEW
DELHI, Aug 25 (PTI) — Eastman Kodak and Hewlett Packard today announced that their joint venture company focusing on digital photofinishing solutions would be named Phogenix Imaging.
ITC Hotels NEW DELHI, Aug 25 (PTI) —ITC Hotels is planning to enter the international hospitality market via ownership and management of properties overseas even as it strengthens its position in India through a slew of new projects.
Weston Elect NEW DELHI, Aug 25 (PTI) —The BIFR has issued show notice to the promoters of Weston Electroniks, Vachani Group. on why action should not be initiated to change the management of the ailing company. |
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