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| Thursday, January 11, 2001, Chandigarh, India   
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Govt announces bonanza for small exporters
A chair for Internet age
India: resolve all WTO issues first |
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Hero Honda will discuss stock
split
Bank of Punjab club for top
clients
Castrol a dark
horse
Hackers of Indian sites traced to
Pak Polaris Software
net spurts 91 pc Women noisier at
sex Woman throws
tomato at Blair
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Govt announces bonanza for small exporters JALANDHAR, Jan 10 — There is a good news for small exporters. Now they will be able to explore export potential in the Western market and a major part of their foreign tour expenditure will be borne by the Ministry of Commerce. To offer the bonanza to small exporters and trigger the stagnating exports, the Ministry has revised its old Market Development Assistance (MDA) under which the facility of reimbursement of major share of air fare was extended to “Status Holders”, or in other words, people or groups with a minimum of Rs 5 crore annual turnover only. Now all small exporters, who are members of the Engineering Export Promotion Council, will be able to travel abroad and avail the same facility involving reimbursement of 75-90 per cent of air fare by the Ministry through Air India. The step has been taken to ward off the reluctance among the small exporters, who did not prefer to travel abroad, explore new avenues, and participate in trade fares just on account of huge expenditure involved in the exercise. The scheme was first launched by the Ministry in June, but it drew a lukewarm response from the exporters for the condition that reimbursement could be done only in case of those with a minimum annual turnover of Rs 5 crore. According the revised scheme, any businessman intending to export his product, will now be able to avail the facility, wherein, 75 per cent of the air fare will be reimbursed to the merchant exporters and up to 90 per cent in case of manufacturer exporters. In case, any exporter or businessman with an intention to export his goods, participate in a trade fair abroad, the reimburment will be between 75 and 90 per cent, with a ceiling of Rs 1.10 lakh. The council estimates put the number of exporters or businessmen who are its members in Punjab and Chandigarh at 800. Mr Upinder Singh, Assistant Regional Manager of the council, said another condition for availing the benefit is that the prospective exporter must spend at least five days of his business trip in the USA or Canada, or they should spend a minimum of two-day each in any other three countries.
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SEATTLE, Jan 10 (Reuters) — Call it Couch Potato 2.0. Luxury armchair maker La-Z-Boy Inc. and software giant Microsoft Corp. officially launched a living room throne for the Internet age, complete with computer jacks and equipment for surfing the web on a television set. Dubbed the “Explorer,’’ the seat comes with a Microsoft WebTV receiver, wireless keyboard and two free months of the service, which enables Internet surfing, e-mail and interactive programmes on a regular TV. “We’ve developed the most technologically advanced recliner to date and have created a way for every customer to be comfortable with interactive television, e-mail and the Internet,’’ Kevin Wixted, La-Z-Boy Director of marketing, said in a statement yesterday. The chair, hailed by the companies as the world’s first “e-cliner,’’ is fitted with an electrical plug for a laptop computer and jacks for regular dial-up and high-speed digital subscriber line, or DSL, Internet connections. A fold-out tray can hold the WebTV keyboard or a laptop. Of course, good old-fashioned amenities like a drink holder and storage space for the TV remote control and TV guide are standard, too. “Our relationship with La-Z-Boy underscores our strategy to provide new ways to enrich the entertainment and information value of television by making it easy and comfortable for people,’’ Eric Estroff, Director of channel marketing for WebTV Networks, said in a statement. “What could be more comfortable than a La-Z-Boy recliner?’’ Estroff asked. The armchair, which was unveiled at a home furnishings show last April, is now in stores and carries a price tag of $ 1,049 for the fabric version and $ 1,299 for leather/vinyl.
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India: resolve all WTO issues first NEW DELHI, Jan 10 — India favours that differences over the implementation of the existing World Trade Organisation agreements should be resolved before embarking on the new round. This was conveyed to the visiting Director General of WTO, Mr Mike Moore, by the Minister for Commerce and Industry, Mr Murasoli Maran. Mr Maran also made it clear that non-trade issues should be kept out of the multilateral trade agenda and stressed that there would be no compromise on the issue of labour standards. He emphasised the importance of confidence building measures to restore the credibility of the multilateral trading system among the developing countries as a just and fair regime. Observing that efforts of the WTO so far for the resolution of implementation issues had been disappointing. Mr Maran said that it would be unfair to impose fresh burdens without implementing the existing commitments. A new round of negotiations involving a new agenda should be launched only after arriving at a broad consensus on the acceptability of the issues on the agenda for such a round. The minister reiterated that India was fully committed to the ongoing mandated negotiations in agriculture and services and the mandated reviews. “In agriculture, sufficient flexibility for our domestic policies to take care of the country’s food security and rural employment concerns should be ensured”, Mr Maran said. Mr Moore spoke of the desirability of launching the next round of negotiations while conceding that there were differences in the perceptions of the member countries on several issues including labour standards. He also expressed concern over the increasing trend towards regional and bilateral arrangements.
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Hero Honda will discuss stock split NEW DELHI, Jan 10 (PTI) — The Directors of Hero Honda Motors will meet on January 16 to take up the issue of stock split of the company’s shares into smaller denominations to improve liquidity of the stock. There are three options — splitting the existing share of face value of Rs 10 into the denominations of Re 1, Rs 2 or Rs 5 a share, a company official told PTI here today. Hero Honda had deferred a decision in May last year. However, the official said, “there are two agendas for the next board meeting — stock split and the quarterly results.” The Board will also announce the third quarter results for the three-month period ended December 30, the official said. Philips relaunches mobile phones Dutch consumer electronics Philips today announced its re-entry into the Indian market with three models of wap-enabled mobile phones, targeting 8 per cent of the Indian market by year-end.
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Alto, Zen & ‘800’ prices increased NEW DELHI, Jan 10 (PTI) — India’s largest car maker Maruti Udyog Ltd (MUL) today hiked prices of all its vehicles, including the recently launched Alto car, by over Rs 1000 to Rs 12,000 with immediate effect. The price of the three versions of the entry model ‘800cc’car (Standard Euro-II, Executive and Deluxe) have been hiked by Rs 2,180, Rs 3,224 and Rs 5,204 respectively to Rs 2.18 lakh, Rs 2.49 lakh and Rs 2.69 lakh (ex-showroom, Delhi) respectively, a Maruti statement said. Maruti has also increased the price of all variants of its premium small car ‘Zen’ (LX, VX, VXI (all Euro-II) and diesel) by Rs 4,157, Rs 1,208, Rs 1,226 and Rs 6,224 to Rs 3.47 lakh, Rs 3.88 lakh, Rs 4.16 lakh and Rs 4 lakh. The price of the two variants of the Alto car (LX and VX) have been increased by Rs 7,640 and Rs 7,707 to Rs 3.07 lakh and Rs 3.72 lakh respectively. Variants of the Wagon-R (LX, LXI and VXI) car have witnessed a Rs 1,177, Rs 6,205 and Rs 7,726 rise in price to Rs 3.44 lakh, Rs 3.71 lakh and Rs 3.92 lakh respectively. While the prices of the two versions of the Omni van have been hiked by Rs 2,374 to Rs 2.22 lakh and Rs 2.28 lakh, the prices of the two versions (LX MPI and VX MPI) of the mid-size car Esteem have gone up by Rs 5,172 and Rs 10,225 to Rs 5.07 lakh and Rs 5.62 lakh respectively. The highest hike has been in the price of premium mid-size car Baleno and its station wagon version Baleno Altura which have been raised by Rs 12,271, and would now cost Rs 7.61 lakh and Rs 8.27 lakh respectively. |
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Autocomps waits for fund release PARWANOO, Jan 10 — Lack of funds has forced Autocomps India Ltd to scale down operations, but its networth has turned positive and it owes Rs 5.5 crore to sundry trade creditors, said Mr Ashish Dasgupta, Managing Director of the company, here today. BIFR has called a review hearing on January 17 to monitor progress of the company, formerly known as Sachs India, a joint venture with Mannesmann Sachs of Germany, and no new package is to be discussed, he clarified. The earlier rehabilitation scheme has been modified. It has not failed. “All our problems will be over if the banks release the already sanctioned working capital’’, Mr Dasgupta told TNS. Autocomps is also awaiting the release of Rs 4.37 crore worth insurance claims filed for the losses it suffered during the 1978 floods, he said. The company needs at least Rs 2.50 crore to be back on the rails, said the MD. The company made exports worth Rs 30 lakh last year and has Rs 10 lakh worth export orders in hand for this month. Far from facing closure, the company is on the verge of coming out of the BIFR nursing, claimed Mr Ashish Dasgupta, reacting to a report in these columns on Tuesday. Autocomps, which supplies auto components to companies like Mahindra & Mahindra, Bajaj Auto, LML and PTL, reported a small profit of Rs 5,000 in the nine months period ending September 30, 2000.
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British Airways to issue blood clot
warnings LONDON, Jan 10 — British Airways said on Tuesday it will give passengers warning leaflets about the risks of potentially fatal blood clots on long haul flights. A spokesman said leaflets would be put in ticket jackets for all long haul flights, warning passengers that sitting for long periods may cause circulation to become sluggish, increasing the risk of health problems like blood clots. "The goal is to bring some accurate, sensible, practical advice. Ultimately, we have a responsibility to our passengers," the spokesman said. The British Airways decision followed a statement two months ago by a parliamentary committee that airlines should warn passengers that long periods of immobility can increase risk. The issue of blood clots related to air travel, dubbed "economy class syndrome" after the cramped seating often found in airlines' coach sections, hit the headlines in Britain in October after a 28-year-old woman collapsed and died after a 20-hour flight from Australia. Nearly 20,000 people die each year in Britain from blood clots to the lung, about 10 percent of which are related to air travel, according to Farrol Kahn, director of the independent Aviation Health Institute. Kahn said he expected the number of reported travel-related clots to increase as doctors become more aware of the issue. Blood clots can be fatal if they reach the heart or lungs, but travellers can take action to reduce the risk of developing them. British Airways already warns travellers to move around during the flight, do in-seat exercises and drink plenty of water. BA said it would also warn passengers of other factors that can increase the risks of clots. People who have just had surgery, women on contraceptive pills and people who are obese or have a history of blood clots are all at increased risk. BA said it was also working to prepare posters warning of travel risks for show in doctors' offices and travellers' clinics. The airline has also set up a medical helpline for passengers concerned about the health risks of flying. But British Airways said it would stop short of advising travellers to take aspirin, which thins the blood, before flying because some passengers could have allergic reactions. Kahn has said that taking aspirin before a flight helps reduce the risks of clots. "We would never give out that kind of blanket advice," the airline's spokesman said.
— Reuters |
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Bank of Punjab club for top
clients CHANDIGARH, Jan 10— Bank of Punjab today launched “Exclusive Club”, a special package where the member clients will be able to get special facilities, including a higher ATM cash withdrawal limit, three drafts or pay orders free per month, free demat accounts and no DD cancellation charges apart from conducting their financial transactions through the personal relationship manager. The facility, which was started today, will be extended to 10 more cities within six months. The membership of the club, which is open to resident individuals with a minimum relationship value or relationship asset value of Rs 5,00,000 with the bank, can be availed on all types of accounts- current, savings, RDs, term deposits, sole
proprietorship, partnership, public limited companies etc. The bank will also take care of the financial requirements like tax planning, investments etc. of the members, said the bank officials. “The bank has aggressive plans to move to the topnotch segment, which has also been identified as a major contributor to the growth the retail portfolio of the bank”, said Mr. Sarabjit Singh, MD of the bank. |
Hackers of Indian sites traced to Pak NEW DELHI, Jan 10 (Reuters)—Indian authorities and computer specialists have traced many cases of hacking of Indian Internet sites to Pakistan, the head of the country's federal police said on Wednesday. "Quite a few of hackers can be traced to ISPs (Internet service providers) in Pakistan," R.K. Raghavan, director of the Central Bureau of Investigation (CBI), told a seminar on Internet security in the Indian capital. Raghavan said it would be difficult to nail hackers who broke into computer systems without help from Pakistani law enforcers. "One wonders what kind of cooperation we will get..." he said, but did not elaborate. Indian industry officials say hackers broke into at least 635 Indian Internet sites last year. Hackers, who use knowledge of software and computers to break in, can deface, alter or steal information from computer systems. "GForce," a group of anonymous hackers whose members write slogans critical of India and its claim over Kashmir, have owned up to several instances of hacking of Indian sites run by the Indian government, private companies or scientific organisations. Dewang Mehta, president of India' National Association of Software and Service Companies (NASSCOM), said the lack of uniform laws against cybercrimes involving abuse of computer systems made prosecution of cross-border hackers difficult. Last year, India passed a landmark digital law that makes hacking, spreading of viruses and illegal financial transactions over the Internet punishable. It became the 12th member in a small club of nations with digital laws. "Hacking is not a universal offence, and there is a problem," Mehta said. Raghavan said the rise of literacy in India could bring down conventional crimes but the vulnerability of computers and the Internet could make crimes over the medium more rampant. "We at CBI are convinced that cybercrime is the crime of the future," he said. "It is now much more easily committed and less easily identified." CBI has a nine-month-old department that investigates cybercrimes and had also begun holding regular training sessions for police to monitor and combat such crimes. NASSCOM also has panel of 19 teenaged "ethical hackers" to help authorities outwit illegal hackers. India's software firms see big business opportunity in setting up software solutions to make computer systems more secure. Mehta said Indian firms were expected to earn $100 million in revenue from such business in 2001, and the figure was expected to zoom to $1.0 billion by 2003. Mehta said Indian companies on an average spent only 0.8 percent of their technology budgets on security, against a global average of 5.5 percent. Polaris Software
net spurts 91 pc NEW DELHI, Jan 10 (UNI) — Polaris Software Lab, achieved a turnover of Rs 74.03 crore for the quarter ended December 31, 2000, as against Rs 41.10 crore for the corresponding period last year representing a growth of 80.12 per cent. The operating profit after tax (PAT) of the company for the third quarter has increased by 126 per cent to Rs 15.77 crores. The polaris Software group revenues have increased to Rs 75.32 crore from Rs 40.34 crore last year representing a growth of 87 per cent. The net profit for the third quarter has increased to Rs 16.77 crore from Rs 8.78 crore last year representing a growth of 91 per cent. The total expenditure (including a provision for amortisation of ESOP of Rs 0.65 crore) was Rs 55 crore and depreciation amounted to Rs 1.94 crore (Rs 0.68 crore). Headquartered in Chennai, Polaris Software is a global software house providing quality and customised information technology solutions to several multinational clients across 20 countries. |
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Women noisier at sex SYDNEY: Women may be quieter than men in hotel rooms, but they make more noise during sex. When women do make too much noise, it's probably because they are shouting at their husbands or children, while noisy men are more likely to be cheering during a televised sports match. A survey of travellers' habits by the Novotel hotel chain in Australia and New Zealand, published on Wednesday, found that women were messier and more light-fingered when it came to packing a hotel towel. When they do steal, men normally take "blokey" things like wine openers and shoe-shine kits. "Overall, the Novotel survey proves that despite decades of feminism, some gender stereotypes are hard to overcome," the Novotel group managing firm, Accor, said in a statement. Its survey of staff at 27 hotels in Australia and New Zealand, however, found that in flirting and watching adult movies, women were starting to catch up. "It would appear that women are becoming more assertive," Accor said in stating that 14 percent of Novotel staff found women more flirtatious than men. The year before, 100 percent of staff questioned said men made more passes. Men tip better and drink beer from the mini-bar. Wine has now caught up with mineral water as the favourite mini-bar tipple of women, but that does not necessarily explain why women had 69 percent of hotel car park accidents in 2000. Men are more likely to sleep through wake-up calls, use laundry services, and complain about the non-smoking policy. Men are also more likely to lock themselves out of their rooms, nude, mistaking the room door for the bathroom door. Both sexes are getting naughtier. "Guests seem to be getting more adventurous, with increasing numbers (of couples) found in saunas, car parks and lifts," Accor said.
— Reuters Woman throws
tomato at Blair LONDON: The British police said on Wednesday a 25-year-old woman had been charged with damaging Prime Minister Tony Blair's jacket after throwing a tomato at him before a rally. Blair was hit on the back by the tomato thrown from a crowd demonstrating against sanctions on Iraq at the rally in Bristol, eastern England on Tuesday, widely thought to be the unofficial start of campaigning for a possible general election this Spring. Blair appeared unruffled and went on to extol the virtues of his Labour government's record saying Britain would benefit from the fruits of economic stability it had delivered. The woman will appear at Bristol Magistrates' Court on Friday.
— Reuters |
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Cement prices New complex Vanaspati sale Office solutions Daewoo plan |
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