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Friday,
February 8, 2002, Chandigarh, India  
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India, Russia to develop aircraft
India seeks textile concessions
Facelift with asses’ milk! |
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Defaulting firms, NGOs
on the Net soon Nasscom to reform power sector
PepsiCo profit falls 4.4 pc
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India, Russia to develop aircraft New Delhi, February 7 The protocol was signed by the visiting Russian Deputy Prime Minister Ilya Klebanov and Finance Minister Yashwant Sinha after the session of the Indo-Russian Inter-Governmental Commission (IRIGC) for trade, economic, scientific, technological and cultural cooperation. Announcing the decision to develop a 100-seater multi-purpose transport aircraft, Mr Klebanov said the design of the aircraft, which could carry both cargo and 100 passengers, was being developed both in India and Russia. The aircraft had been divided into units and components that would be made in the two countries. A joint marketing strategy was being worked out sell the aircraft in third countries as well. The aircraft is likely to be based on the Russian IL-214 design. During the extensive meeting, the two sides came to an agreement to sort out the vexed issue of debt repayment,
utilise large rupee holdings by Moscow for restructuring the ailing steel plant IISCO at Burnpur in West Bengal and 2000 MW Koodamkulam Nuclear in Tamil Nadu plant being set up with Russian assistance. Expressing alarm over the fall in bilateral trade this year, Sinha and Klabenov, who are Co-Chairmen of the commission, said while giving strength to traditional areas of trade, the two sides have agreed to diversify into new areas like import of rough diamonds from Russia and export of computers from India. Mr Sinha said Russia has agreed to have one-time clearance for Indian pharmaceutical imports, which form the bulk of the trade between the two
countries. It will replace the old system of batch by batch inspection. The two sides had also agreed to examine the possibility of utilisation of the rupee fund for project investment in selected areas on a case-by-case basis. India had also taken note of the Russian concern over the anti-dumping measures and decided to work together informally to avoid such situations. It was decided that India and Russia would continue their cooperation in the Rs 8,000 crore Sakhalin hydro-carbon project in Russia. Russia would be involved in the North-South corridor project of the National Highway Development Programme. Mr Klebanov said the two countries had not set any time-bound target for raising the trade volume. |
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India seeks textile concessions New Delhi February 7 Union Minister for Commerce and Industry Murasoli Maran today brought out this point in a meeting with US Deputy Secretary of Treasury Kenneth Dam here. The Commerce Minister also said that a cutdown in peak tariffs would be in the interest of both the developed and developing world. Mr Dam said the USA was looking at ways and means to improve bilateral trade with India. He was accompanied by US Ambassador to India Robert Blackwill during the meeting with Mr Maran. Speaking to reporters, Mr Dam said , “ Prompt implementation of economic reforms measures were necessary for India to achieve the growth rate of 8 to 9 per cent”. “I would like to point out that in specific areas like trade liberalisation and fiscal reforms, India should reduce subsidies as these are quite high compared to the international standards”, he said. On a more open trade regime, he said for economic growth and poverty reduction, a free trade regime was important. Mr Dam said the government ownership in banks and mutual funds needed to be gradually reduced. |
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Facelift with asses’ milk! Frankfurt, February 7 “There is a strongly growing demand for natural cosmetics,” said Karin Schumacher of the German environmental consumer magazine Oekotest. An increase in allergies caused by chemical substances in perfumes, as well as growing environmental awareness, underlies this trend, she said. Now manufacturers are responding with perfume-free products. The magazine recommends products from health shops and organic shops. “But the commercial manufacturers are also making great efforts to meet customer demands for more natural substances and fewer chemicals,” she said. British entrepreneur Anita Roddick first took environment-friendly cosmetics into the mainstream when she founded “The Body Shop” in 1976. The company rejected products tested on animals, insisted on environment-friendly manufacture, and took up the cause of recycling — empty bottles can be returned to the shops for refilling. It proved to be a winning formula: there are now 1,800 Body Shops worldwide. From New York to Sydney, men and women wash their hair with ginger shampoo and banana conditioner, tired feet are massaged with peppermint lotion and skin is cleansed with tea-tree oil. US cosmetics chain Aveda has also taken up the environmental torch. In 1997 it ceased production of its perfume “Love Pure-Fume” after it found the natural sandalwood oil from east India used in it was extracted in a non-environment-friendly way. Now it has re-launched the scent after finding an environmentally-friendly supplier in Australia. Back-to-nature is also inspiring other large manufacturers. Shiseido uses natural products from the Far East such as green tea, rice and cherry tree blossom. Rice bran and rice wine has long been part of Japanese beauty care to make skin soft and silky, says Shiseido Germany. Green tea contains Vitamin C, carotene and Vitamin E that are good for the skin. And cherry tree blossom is traditionally used to relieve skin rashes.
DPA |
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Love-struck women land in debt Berlin, February 7 That is the experience of an increasing number of women, who throw caution to the wind and decide against their better judgement to act as guarantor for husbands who need a loan, whether to set up a company or for some more mundane reason. According to the Berlin-based IBF support group for women in debt, some 92 per cent of people asking for advice are women who fall into debt after agreeing to act as guarantors for their husbands. “These women are able to manage money, have an above-average education and their own incomes,” said Annette Schmedt of the IBF. The remaining 8 per cent consists of mothers who are indebted because of their sons. Some signed out of conviction, others gave way to pressure. It begins with a seemingly harmless remark like “If you love me, you’ll help me,” says Schmedt. Yet, some threaten to separate or even take the children away. “The women often only notice the financial misery when divorce looms or when their partner dies or is taken ill and they have to deal with the business side,” Schmedt says. About 60 per cent have debts of more than 50,000 euros ($43, 400) while 35 per cent even have debts of more than 250,000 euros. “When the victim has debts of more than 50,000 euros, we have to assume that they are unable to pay off such debts themselves.” Once their reserves are used up, seriously indebted households cannot cover their overheads and everyday obligations with their income alone, even if they do cut back. A less severe and more common form of indebtedness, on the other hand, means that although debts exist in the form of a credit or a loan, repayments rates can theoretically still be made from current income. According to the Federal Debt Advice Association in Kassel BAG-SB, every second household in Germany is indebted. In 2000, at least 2.7 million households had run up a heavy debt. The former spouse is often left with items bought during a marriage. “Women are more inclined to remain living at the former joint home for the children’s sake,” says Christel Hoehn of the Caritas Debt Advice Centre in Munich. Divorced men often keep out of the way and some vanish without a trace so that the women are left to the mercy of the bank. In addition, banks prefer women says Christel Hoehn. “Men are more likely to give up when the going gets tough and they cannot pay.” Women are tougher and more practical. They endure it for years.” Claudia Kurzbuch of the BAG-SB confirms that, too. “The banks carry out internal studies about the tendency of women to take paying back more seriously. That’s why they explicitly request the spouse’s signature when a large credit is at stake.” Annette Schmedt considers the behaviour of credit institutes to be almost immoral. However, there are banks who do not request the wife’s signature, says the manager of IBF: The woman should under no circumstances sign, if her husband wants to become self-employed. Never.” Most indebted women who find their way to the debt advice centre are between 20 and 40 years old. “They usually come when it is too late,” says Claudia Kurzbuch. Often by then distraint or the bailiff loom. Only a few get in touch early because they have an inkling that they might not be able to cope with their financial situation.
DPA |
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Defaulting firms, NGOs on the Net soon
New Delhi, February 7 At the three-day international conference — “Map India 2002” — organised by the Centre for Spatial Database Management Services (CSDMS), Mr Vittal said a full-fledged investigation was on to identify the corporate houses which defaulted with banks resulting in increased NPAs. The NGOs that have siphoned off money from the Council for Advancement of People Action and Rural Technology (CAPART) under the Ministry of Rural Development will also be fully probed. Many NGOs floated organisations took money from ACPART and vanished. The CVC said for better governance and management in the present scenario the use of Geographic Information Systems (GIS) global Geo Positioning System (GPS) was a must.
UNI |
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Nasscom to reform power sector Mumbai, February 7 “We will soon set up a working group with Nasscom to study involvement of IT in the power sector and find out how it can help us solve the problems in the current scenario,” Power Minister Suresh Prabhu said in his key-note address at Nasscom 2002 held here today. Nasscom Chairman Phiroz Vandrevala welcomed the minister’s suggestion and said the organisation would form a core team of around 30 companies to coordinate with the Power Ministry.
PTI |
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Textile scheme Onion export STC capital Bank of Punjab InfoUSA Satyam wins order Videocon directors Canadian food |
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