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Wednesday,
October 9, 2002, Chandigarh, India  
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Naik mum
on BPCL, HPCL disinvestment IOC plans
Rs 700 cr institute on energy India,
Cyprus sign 5 pacts Bridal
Asia — a dream collection |
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Canadian
willing to invest in Gurgaon Nirma
inks pact with P&G SBI
branch at Leh computerised Indica
sales jump 33 pc
World
Sikh Yellow Pages by Baisakhi
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Naik mum on BPCL, HPCL disinvestment
New Delhi, October 8 ‘’I have nothing to say on the media reports,’’ the Minister said when asked about his reaction. He also avoided all questions relating with BPCL and HPCL, saying that the matter is with the Prime Minister, Deputy Prime Minister L K Advani and NDA convener Mr George Fernandes. According to media reports, the public sector companies — Oil and Natural Gas Corporation and Gas Authority of India Ltd — will be junior partners in the prespective bidders of BPCL and HPCL while multi-national companies will be senior partners. Both these companies would be operated by MNCs after their sell-off. However, oil industry appears to have rejected the proposal asking why they should they invest in a company, where they did not have a say?. When asked whether he would again meet the Defence Minister George Fernandes on the issue of disinvestment, the Minister said that he had tried to contact Mr Fernandes yesterday and even today indicating a possible meeting with the NDA leaders in the near future. Meanwhile, Heavy Industries and Public Enterprises Minister Balasaheb Vikhe Patil has suggested to Prime Minister Atal Behari Vajpayee to disinvest only in those PSUs under his ministry which have attained a certain degree of profitability. In a communication to Vajpayee, Patil who has been suggesting a review of the disinvestment policy, proposed a four-pronged approach for sale of government equity in PSUs under the Department of Heavy Industries. “In companies that have attained a certain degree of profitability and professionalism only dilution of government equity would be undertaken,” Patil said in the letter. In the case of ailing companies the Minister said, “if consultants favour
restructuring and divestment, this would be done only after a proper assessment is done of the company’s worth after prospective restructuring is complete.”
PTI
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IOC plans Rs 700 cr institute on energy
New Delhi, October 8 “At present, three foreign companies, including two from the USA, have evinced interest in conducting a detailed feasibility study on setting up the institute,’’ IOC sources said. “The companies that are in the fray for preparing the feasibility study are the Netherlands-based TNO and the US-based Battell Memorial Institute and EPRI,’’ they said. The proposed Indian Oil institute for energy and environment would focus on development of alternative fuels and energy conservation. Asked about the location, the sources said the institute is likely to come up at one of the capital’s satellite townships, preferably at Greater Noida as ‘’the company’s Research and Development Centre has suggested this location.’’ The global consultant would be asked to submit the report in the shortest possible span so that it could be forwarded to the IOC board for final approval. Last fiscal, the company incurred Rs 67 crore in R and D expenditure. The company’s R and D Centre at Faridabad is at present studying blending 10 per cent ethanol in petrol and the feasibility of bio-diesel in the country. Asked if the bio-diesel, mixing vegetable oil with diesel, will be commercially viable in the country, especially when vegetable oil was being exported, they said, ‘’We have 130 million hectares of wasteland and if we use just 20 per cent of this for cultivating certain plants then the cost will almost be comparable.’’
UNI
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India, Cyprus sign 5 pacts
Nicosia, October 8 The agreements were signed in the presence of Prime Minister Atal Behari Vajpayee and Cypriot President Glafcos Clerides after the two leaders held one-to-one talks on a wide range of bilateral, regional and international issues of mutual concern. These were followed by talks at the delegation level. Mr Clerides later told reporters that India was fully entitled for a permanent seat in an expanded UN Security Council.
PTI
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Bridal Asia — a dream collection Sensuous, shimmering and sparkling, it is every bride’s dream come true. Bridal Asia 2002, Asia’s biggest exposition for all bridal finery, apparel and products is back with the best and the widest range all under one roof. The three-day annual event will be held at New Delhi’s Taj Palace Hotel from October 12 to 14. Apparel, jewellery, sterling silver, lingerie, linen and accessories, the three-day event will offer the finest collections of every conceivable article for the bride and the groom, put together painstakingly by the top-notch names in bridal finery from the Asian subcontinent. Catering to a broad range of consumers these collections will reflect the genius of the master craftsmen through blends of the modern and the traditional, the classical and the contemporary, not just from India but also Bangladesh and Pakistan. Suitably kickstarting Bridal Asia 2002, will be an exclusive fashion show to preview the work of select designers. It will be held two days prior to the event on October 10 at the venue. Giving the event a more holistic appeal, this year’s event will offer customers special interactive sessions on beauty, skin care and grooming for young brides-to-be along with professional advice on planning and executing weddings. A ‘by invitation’ event, Bridal Asia 2002 allows for on-site sale and also gives invitees and participants a chance to interact in order to customize the needs of the patrons. The show participants have apparel, accessories and gems and jewellery. In the apparel section, there will be Tarun Tahiliani’s stunning styles, J.J Vallaya’s splendid creations, Ritu Kumar’s superb weaves, Krishna Mehta’s stylish designs, Niki Mahajan and Anju Modi’s traditional silhouettes with a trendy edge and international appeal. A few international names include Maheen Khan and Sohana Chowdhury from Bangaladesh, Bareeze from Dubai and Tanwir from Pakistan. An exclusive section will showcase splendid bridal jewellery in gold, silver, platinum, diamonds, pearls and other precious stones. To complement stunning apparel and jewellery will be shoes and bags from Rinaldi and Art Apparel and Suman Nathwani’s lingerie. Bridal Asia started in 1999 with 40 participants and 9,000 visitors, has now become an annual extravaganza with over 80 participants and over 28,000 visitors and is organised under the guidance of Divya Gurware.
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Canadian willing to invest in Gurgaon Chandigarh, October 8 “I am looking for an opportunity to make some investment in the National Capital Region in general and Gurgaon in particular,” says 57-year-old self-made businessman who after a tough struggle has made it to the top in his 32 years in Canada. “Everything is available here. Rather things are cheaper here than in Canada,” he admits. His is a rags-to-riches story. “When I went to Canada at the age of 25, I landed in jail as an illegal immigrant. Within a year I had called my wife and my children there. At that time I had made up my mind not to live there because of the hard life. I worked in factories and had to struggle hard to sustain myself and my family. “But with God’s grace, things started working out well. And now my eldest son, Gurmeet Bhangal, who runs a private school, is into politics. He has been a Liberals’ nominee both for provincial and parliamentary elections. My other two sons assist me in business,” says Mr Bhangal. “Last time when the Haryana Chief Minister, Mr Om Prakash Chautala, and his family went to Canada, they stayed with us for almost a week at my Brampton house ,” he says, claiming Prof Sampat Singh, Haryana’s Finance Minister, to be his old friend. He says : “During partition of the country, our family moved from Bhangal Kalan in Nawanshahr to Dhanni Masitan Wali village at Fatehabad in Haryana where I had my preliminary education. I studied for a while in Chandigarh also before getting married. In India I was pursuing the ancestral avocation of farming till I was bitten by the foreign bug.” Mr Bhangal owns one of the biggest and most expensive houses in Ontario. Popularly known as “Bhangal Palace”, it is spread over in four acres.
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Nirma inks pact with P&G
Mumbai, October 8 Camay has strong recall value in the Indian market and with Nirma’s strong distribution network, the brand would be able to establish substantial presence in the premium soap segment, NCCL Chairman and Managing Director Hiren Patel told reporters here
today. Nirma would pay turnover based royalty to P&G for Camay brand. The agreement also provides flexibility to evolve the brand’s extension using different fragrance suitable for the Indian market, he added.
PTI
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SBI branch at Leh computerised Chandigarh, October 8 In view of the new industrial policy of the state, the bank has decided to give a major boost to the state economy. It has announced to provide computerised services, including ATM, Internet banking and electronic services, in the violence-hit state. Announcing this here, Mr R.K. Sinha, Chief General Manager, Chandigarh circle, said:‘‘Despite terrorist activities, the bank has accepted the challenge to increase the credit offtake by offering specialised services. The SBI, with 119 branches, is the second largest bank in the state, second to J&K Bank’’. The total deposits in the state have reached Rs 2,087 crore by September 30, 2002, registering a growth of Rs 107 crore. However, the total advances have reached Rs 369 crore by August this year. Regarding the computerisation programme in the state, he said the branches in Leh would provide better services to customers, including foreign and domestic tourists, and Army personnel. Mr Sinha said to meet the shortage of staff in the valley, the bank had introduced special promotion schemes. It had recently promoted 57 clerks to official cadre, under which they would be required to serve for 5-7 years. The bank had achieved 120 per cent target of the annual credit plan last year. Mr Sinha said:‘‘By the end of this month, the SBI will start the networking of 350 branches at 49
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Indica sales jump 33 pc
New Delhi, October 8 The sales comprised 7,208 units of the premium small car ‘Indica’ which posted a 33 per cent growth during the month, Rajiv Dube, Vice President of the company’s Passenger Car Business Unit told a news conference here. The rest constituted the multi-utility-vehicle ‘Sumo’ and sports-utility-vehicle ‘Safari’. Sales during April-September 2002 increased by about 20 per cent to 46,608 vehicles, including 35,078 ‘Indica’ cars and 11,530 utility-vehicles. This fiscal, Tata Engineering expects to clock about 12 per cent rise in domestic passenger vehicle sales to nearly one lakh units against 89,000 vehicles sold in the previous fiscal, Dube said.
PTI
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Karnataka Bank BHEL dividend Symphony offer PNB programme BPCL dividend |
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