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| Tuesday, September 12, 2000, Chandigarh, India   
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opec nations can further raise oil production: Saudis Tirupur’s tips
for Ludhiana Excise duty affects printing industry
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Emirates eyes Air India equity Fiat rolls out Siena Weekend Advisory
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for NRIs on telecom
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opec nations can further raise oil vienna, Sept 11 (AFP) — Saudi Arabia, the world’s biggest oil producer and the kingpin of opec, today said that the 11-member cartel could increase output again if the latest 800,000-barrel boost does not calm markets. Saudi Oil Minister Ali al-Nuaimi was speaking as the Organisation of Petroleum Exporting Countries (opec) ministers gathered again to finish off business, after agreeing the production increase yesterday. “We can trigger the mechanism at any time,” he told reporters, referring to a price-band mechanism under which opec will boost production by a further 500,000 barrels a day if prices stay above $28 for over 20 days. Oil prices fell when trading began in london today to $ 32.20 a barrel from 3 32.78 at the close on Friday after opec agreed the bigger-than-expected 800,000 increase. The increase was the third this year aimed at easing prices not seen since the Gulf War shook the world oil market a decade ago. The Saudi Arabian minister described the move as “in the right direction”. He also confirmed that Saudi Arabia had wanted a bigger increase at yesterday’s meeting, but said he was satisfied with the agreement. “We asked for a million, but it’s the right number,” he said. The closely-watched opec meeting had been under intense pressure from Western oil-consuming countries to act decisively in the face of consumer protests and warnings of a global world slowdown. The 800,000 figure was in the middle of a range forecast to be agreed by opec, but more than an increase 500,000 barrels backed by many smaller opec members wary of losing market share if too big an increase were agreed. But within hours of the accord the Saudi Minister said that output could be increased by even more in November, when opec ministers will meet again to review the market. “Opec is ready to go ahead with another rise in its production next November, if the increase decided today does not succeed in damping down the price rise,” he said, quoted by the wam news agency in Dubai. Opec ministers, this year celebrating their 40th anniversary, is due to meet again on November 12 to review the effect of yesterday’s decision on world markets. Most opec members agree that there will not be another increase before the November meeting. “We will not take action before November 12,” said Qatari Minister Abdullah al-Attiyah, reiterating opec’s desire to bring prices back down to their preferred range of $ 22-28 a barrel. Analysts and authorities warned that the 800,000 barrel hike might not be enough. “Oil prices will dip but not very much,” said David Nesbitt, a trader with Prudential Bache brokerage in London. “If there is any more of a dip in prices you will see some buying.” “The opec accord hasn’t really broken down properly,” he told afp. “There is a belief that some of the extra oil promised is just part of extra output produced in August. We could only be seeing an increase of 130,000 barrels a day which isn’t very much.” Opec reiterated this weekend its criticism of pressure from western governments, hitting out at them for levying huge taxes on oil products, but blaming opec when consumers protest. “Opec expresses the hope, once again, that the governments of these countries will reduce their high taxes on a barrel of oil,” said Venezuelan Oil Minister Ali Rodriguez, current opec president. Opec blames the current high price of crude on record low stocks of oil, at a time when global economic growth is fuelling demand and the northern hemisphere is approaching the cold winter months. Opec has already increased production twice this year, moves that had little effect on prices, which have tripled since a low of under $ 10 a barrel last year. The opec meeting this morning was notably to discuss the election of a new Secretary-General to replace Nigerian Rilwanu Lukman — whose mandate was extended last year after members failed to agree a successor. |
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Tirupur’s tips
for Ludhiana TIRUPUR, Sept 11 — Tirupur Export Association (TEA) officials reeled out figures to show how the workers have been making a big contribution. Sudden strikes are out. In fact, a mahanadu (conference) conducted by the CPM and its trade union arm CITU passed resolutions supporting industrial production. As one leader revealed to The Tribune, the mahanadu demanded total ban of import of textiles and protection for the textile industry. Side by side it wanted a ring road connecting various towns like Coimbatore, Irugur and Tirupur. In order to promote exports and help buyers in selecting their requirements of knitwear, TEA holds a knitwear fair since 1995. Fairs have been regularly held. Since lack of built-in facility, suitable for a trade fair was a major handicap for raising the fair to international standards they have jointly promoted a society — India Knit Fair Association — to create permanent trade fair facilities at Tirupur. This society mobilised financial support from leading exporters all over the country and constructed a hall sometime ago. It was felt that a foray into the winter garments markets in Europe and other places would be the right choice to diversify. To promote this objective, it was decided to hold on a regular basis exclusive international trade fair for autumn winter collections. The Government of India launched a technology upgradation fund scheme (TUFS) for textile and jute industries for a period of five years in April 1,1999. The main feature of the scheme is to reimburse 5 per cent of the interest actually charged by the designated nodal agencies and cooperative banks and other financial institutions on loans for technology upgradation. The weaving and knitting, including non-woven garment/made-up manufacturing, are, inter-alia, covered under TUFS. ‘‘The scheme is intended to help manufacturing units to upgrade the technology levels and to improve productivity, quality and cost competitiveness to emerge stronger and well-equipped to face the challenges of the demanding domestic consumer and integrated world market,’’ TEA officials said. TEA is strongly advocating and assisting people in other parts of the state and also other states to set up knitwear manufacturing and processing facilities. In spite of a substantial increase in exports of garments, India’s share in international garment trade in around 2 per cent. Tirupur alone will not be able to cater to the growing international demand for knitwear. Hence TEA is pressing for the growth of knitwear industry in others parts of the state. Possible assistance and advice have been given to some projects in Madurai. A textile policy that encourages the growth is urgently needed. Dr Himadri Ghosh, Director of the Ahmedabad-based Institute of Design, and other UN Development Agency officers assert that in the borderless world after five years, those units which serve the domestic market under quota regimes will be squeezed. Brand promotion was one way out. One reason for the bumpy ride for Ludhiana when competition from China, Bangladesh and other South Asian countries increased was its poor brand quality. The stages of brand promotion to be followed by the UNIDO-NID-TEA for Tirupur knitwear cluster can be of great help to Ludhiana. It has 10 stages. Stage I: Reality check: to know how many units are interested in participating in the brand building exercise; Stage II: Surveying the firms; Stage III: Preparing a code of conduct for member-firms; Stage IV: Preparing identity and brands and creating brand management organisation; Stage V: Public relations campaign; Stage VI: Creating visual experiences in and around Tirupur; Stage VIII: National campaign, testing, fine-tuning; Stage IX: Brand launching; and Stage X: Strengthening the brand through identity projections. Comparison is always odious. So is this. But as Tirupur industrialists repeatedly point out, Ludhiana can still be in the vanguard. There is a big market available in Europe, 400 million strong buyers and in the next three years the whole market will be open to good brands. (Concluded) |
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Excise duty affects printing industry AMRITSAR, Sept 11 — Even as Korea, China, Japan and Germany are dumping goods in India, the industry of this holy city is facing a crisis these days. According to industrialists, many units which continued to run even during the heydays of militancy are closing down due to various reasons. Especially, the processing and printing industry here is passing through the deepest crisis of its history. However, this sorry state of affairs has been caused by the imposition of a whopping excise duty by the government which has virtually broken the backbone of this industry and brought it to the brink of disaster. The city has 84 processing and printing houses out of which only nine units are working at present and 75 units are closed down because the government has levied excise duty of Rs 2 to Rs 2.5 lakh per chamber per month which comes to Rs 1.20 crore yearly. The strangest thing about it is that the owner has to shell out the duty on all chambers even if a few of them lie idle during the days when the production is very lean because of a slump in the market. Over and above, there are a large number of other expenses which a processing unit has to bear among them are its electricity bills, labour bills, fuel bills every year. According to Prof Darbari Lal, General Secretary, PPCC, the powerloom sector was also given body-blow and is also on verge of extinction. He claimed that out of total 12,000 powerlooms, 11,000 units had been closed down rendering about 80,000 workers jobless. The city was known all over the country for its textile, processing and printing units after Mumbai and Surat. However, this flourishing sector has been rendered paralysed by the unwise policies of the government. Industrialists were amazed to find that although the present crisis had shaken the industry to its roots, the various representations made to the government to ease the situation had not evoked any positive response so far. Prof Darbari Lal claims that this was Amritsar which had propagated “salvar-kamiz” all over the world. The dress is common during the fashion shows also. However, the industry which brought laurels to this city had been facing crisis of sorts these days. Many of the processing and printing units which mushroomed on the Batala road are on sale. Many proprietors had already switched over to some other business or are unable to repay the loans they had taken from banks for opening the units. The industrialists have threatened to launch an agitation if the state government failed to come to their rescue. The industrialists suggest that the government should immediately reduce the excise duty apart from advancing liberal loans which would work like “blood transfusion” to these units. The industry should be given protection against the cut-throat competition generated by goods dumped in all over the country.” The industrialists also urged the government to set up an enquiry commission to go into the causes which resulted disastrous days for industry. |
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Emirates eyes Air India equity CHENNAI, Sept 11 — Sheikh Ahmed Bin Saeed Al-Maktoum, Chairman of the Emirates Airlines today said that his airlines was interested in investing in the Air India but was waiting for details of the sale to come out officially before making the formal bid for the country’s international carrier. “Nothing is formal as yet,” he said while pointing out that his airlines was not only interested in investing in Air India but also in the privatisation of airports in India which has also been on the cards. Speaking to the media after the arrival of the inaugural Emirates flight to Chennai from Dubai, Sheikh Ahmed hoped that the airlines would be allowed to fly from every destination in India. Chennai is Emirates’ 52nd destination worldwide and the third in India. The airlines has been operating flights from New Delhi and Mumbai since starting its operations in 1985. Emirates would be operating four times a week from Chennai to Dubai and vice versa. Sheikh Ahmed said that the airlines would consider bringing A-3XX aircraft to India seeing the rising traffic from here. The airlines has been the first to order this aircraft and it would be delivered to it in the year 2002. It has the capacity to fly almost 600 people on every flight. The airlines has seen a 15 per cent rise in traffic from Mumbai in the last year and more Indians are using Dubai as a stopover for travelling to Australia. The airlines is looking to increasing cargo operations from India. It has won an award this year for being the best cargo airlines. Sheikh Ahmed said that the airlines would be happy to fly from more destinations in India, but that would depend on the Civil Aviation Ministry. Nabil Sultan, Manager India and Nepal for the airlines said that they would like to have daily flights from Chennai since there is an increase in traffic from South India due to the booming IT industry. “We are delighted to start new services to Chennai to help serve the large Indian community in Dubai, many of whom come from Tamil Nadu. The Emirates group alone employs almost 5,000 Indians.” “Our links with India go beyond our flights. Mercator, our IT subsidiary, has recently set up a development unit at the Satyam Development Centre in Hyderabad which will work on the range of airline and airport systems with Mercator products.” The airlines refused to get into a price war and said that discounting prices has not been its policy as their product was among the best. |
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Fiat rolls out Siena Weekend NEW DELHI, Sept 11 (PTI) — Fiat India Limited has rolled out Siena Weekend, the station wagon version of its mid-size car Siena and said it will launch another mid-size car Palio in 2001. The car, to be sold in both petrol and diesel versions has been priced at Rs 7.27 lakh and Rs 7.87 lakh (ex-showroom Delhi) respectively, Managing Director G.V. Ravina told reporters at the launch yesterday. The five-door hatchback car would have a 1600cc multi-point-injection (MPI) petrol engine with 16 valves and an 1700cc turbocharged diesel engine which will deliver 98 and 63 brake horse power (BHP) respectively, he said. As part of localisation process, Fiat India will start manufacturing engines for its premium small car Uno in the country from April 2001. “We will commence selling Uno cars in India fitted with indigenously made 1200CC petrol or diesel engine from April next year,” Ravina said. The company has already developed both the engines and the same would undergo various realibility tests before going into mass production at its Mumbai plant. At present Uno cars are fitted with assembled petrol and diesel engines imported from Italy and Argentina respectively. Ravina, however, dismissed plans of phasing out the Uno from the company’s stable in the immediate future saying the car has vast potential in the domestic market. Ravina said the company would also launch the mid-size car, Palio, the third from the company’s “World Car Project” in 2001 but said the car would sport a new design. |
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Advisory
panel
for NRIs on telecom NEW DELHI, Sep 11 — The Communications Minister, Mr Ram Vilas Paswan, today announced the constitution of a 29-member non-resident Indian (NRI) advisory committee on telecom that would advise on matters relating to development of the telecom sector in the country. The members of the committee are drawn from the government and industry both within and outside the country. These include among others Chairman, Telecom Commission; Secretary, Ministry of Information Technology; Secretary, Department of Telecom Services (DTS); and Secretary, Department of Telecom Operations (DTO). The chiefs of public sector undertakings like the Centre for Development of Telematics (C-DOT) and Videsh Sanchar Nigam Limited (VSNL) and the Presidents of the Association of Basic Telecom Operators (ABTO) the Cellular Operators Association of India (COAI) the Telecom Equipment Manufacturers Association (TEMA) and the National Association of Software and Service Companies (NASSCOM) are also its members. The other members include NRI experts engaged in telecommunications who are from the industry and leading universities. |
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Purchase cars online NEW DELHI, Sept 11 — Indian customers can now buy cars through the net, thanks to an initiative taken by General Motors India. Their two models, Opel Astra and Corsa would now be available at India’s largest web portal Rediff.com. Prospective buyers can now register their orders sitting at home, and ask for a test drive at their doorstep. Under the scheme, the customers looking for Opel brand of cars can register their order for a sum of Rs 500 by using their credit card. Facilities like online finance options, sale of Opel branded merchandise etc. would be introduced later. Get education loans too MUMBAI, Sept 11 (UNI) — Brainvisa.com, India’s premier portal for education and careers, today announced its tie up with HDFC Bank Ltd to provide education loans online. With this agreement in place, members of Brainvisa.com can now avail of all HDFC education loans through Brainvisa.com (URL:www. brainvisa.com). The portal has geared up to take care of all loan applications and processing for its members. An exclusive list of scholarships and grants for studying in India and abroad is also available on the site. This value addition will ensure that apart from selecting their course and campus on foreign shores at Brainvisa.com, students can also arrange for finances too. ICICI appoints Morgan NEW DELHI, Sept 11 (PTI) — ICICI Ltd has appointed JM Morgan Stanley as merchant bankers to advice it for divesting 10 per cent share in ICICI Infotech and issue an equal proportion in fresh equity by this fiscal. “JM Morgan Stanley has been appointed as advisor to the issue,” Lalita D. Gupte, Chief Operating Officer of ICICI, said after launching a social development portal “ICICIcommunities.org” here. ICICI would divest 10 per cent and issue another 10 per cent in the proposed initial public offer, slated within two months. Gupte, however, said the exact time and price of the issue would be determined by the merchant banker. E18 ties up with brokers MUMBAI, Sept 11 (UNI) — E-Eighteen.com Private Limited (E18), TV 18’s Internet focussed subsidiary, has entered into multiple alliances with leading online brokers including ask Raymond James, Hometrade, Indiarulls, Investsmart India and Khandwala Securities with a strategic objective to extend its audience reach and relationships by offering transaction capabilities. As a part of the agreements with its partners, E18 will have a share in the transaction fee in addition to a base commitment fee. The e-broking partners will benefit from an increase in their customer base through referred traffic from www.moneycontrol.com-e18’s business and personal finance web portal. Sabeer Bhatia in Delhi NEW DELHI, Sept 11 (PTI) — A group of Silicon Valley-based IT professionals including the founder of “Hotmail” Sabeer Bhatia, is planning to launch an infotech services company to offer global roaming voice mail services in India by November. “The company, which will be based in Mumbai and enable subscribers to avail international roaming two-way voice mail, is expected to start its operations by November. The name of the company is yet to be decided,” Sabeer Bhatia, promoter of the company, told PTI. Bhatia recently launched his second IT venture after hotmail.com christened Arzoo.com. He is currently in the Capital to launch Waqalat.com a legal portal founded by Naval Bhatia. |
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How tea was discovered CHANDIGARH: Have you ever wondered how tea was dicovered? It is said that a Japanese monk had cut off his eyelids and had thrown them on the ground where, it is believed that, the first tea plant grew, providing the monk with an elixir that kept him alert during his meditation. This and other interesting information about tea has been put online by Pugmarks InterWeb Pvt. Ltd. for Duncans, Pugmarks has designed this corporate site for Duncan Industries and it is being hosted on Pugmarks servers in Exodus, Chicago. Predominantly a corporate site, with sections on available brands and blends, new launches and the company’s history, www.duncans-tea.com offers interesting content for tea lovers corious enough to read up every thing about the refreshing green leaf. An interesting aspect of this site is that the colour of the home page changes according to the time a surfer visits the site. So if there is sunshine yellow greeting you warmly in the morning, it is a calm and serene lilac with your evening cuppa. For those who want to experiment with the new recipes of tea, the website offers a variety of tea preparations. It also contains a section on uses of tea and offers e-mail-accessing facility with a hyperlink to www.openphone.com. — TNS For women, by women DHAKA: The male-dominated streets of Muslim Bangladesh are in for a facelift, following the recent launch of “women-only cabs” driven by women and for women. Nitol Motors Ltd part of a major business house, is sponsoring the scheme. “There will be taxi cabs for women passengers only and driven by women,” said Nasim Ali Khan, Sales Manager of Nitol Motors Ltd. “Men have to be accompanied by women to be able to hire one of these taxis, but the drivers will have the right to deny taking them,” Khan told AFP. The idea, she said, was to make women feel safe in a taxi. Women in Bangladesh have put their stamp on public life but feel they could do with a modicum of protection on the roads. Two women — Prime Minister Sheikh Hasina Wajed and Opposition leader Khaleda Zia — rule the roost in this densely-populated country. Bangladesh prides itself in saying at least 25 women fought in the 1971 war of indpendence from Pakistan. Hundreds of women aided indirectly in the struggle, acting as scouts or cooks for the fighters. — AFP Vodka war in Russia MOSCOW: A vodka war is raging in Russia with competitors being slain by hitmen, hundreds of thousands of bottles seized by the police and more than 20,000 people dead since January after drinking bootleg liquor. The “kings of vodka” are locked in a pitiless struggle to conquer a market worth some $12 billion split equally between the legal and the black markets, according to experts. In Moscow itself the methods used are scarcely less ferocious: two top men at Russia’s leading vodka manufacturer Kristal are battling for the leadership through bomb scares, intervention by armed groups and mutual threats. In 1999 vodka production in Russia totalled 1.34 billion litres, up 60 per cent from the previous year. But this already impressive figure only represented half the real production, with the rest coming from clandestine distilleries. While small producers stay faithful to the old methods, hiding stills in the countryside, most of the bootleggers operate on an industrial scale. — AFP |
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