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Sail to have IISCO under its wings
Italians explore trade possibility
Turbo-powered petrol Skoda rolls out
Boeing lobbies for rebid
Foreign Trade Policy cheers exporters
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Airtel cuts post-paid rates
Joshi Autozone bags 2 MUL awards
BPCL’s Lanka venture in final stage
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Sail to have IISCO under its wings
Kolkata, August 31 “We have taken the decision today and the formalities will be completed soon. Funds will not be a problem since Sail has made a profit of Rs 2,600 crore,” Mr Paswan told reporters after his marathon meeting with West Bengal Chief Minister Buddhadeb Bhattacharjee here. IISCO, a central public undertaking that employs more than 5000 persons, was lying idle since several years. The Centre was negotiating with several private sector companies for IISCO’s take over. Recently, Mittals had shown keen interest to purchase it and accordingly, an agreement was to be finalised. But Mr Paswan’s announcement today put the agreement aside. Mr Bhattacharjee hailed the decision of Mr Paswan and said it would help immensely on the rejuvenation of the industrial scenario of the state. Mr Paswan said the IISCO was already a 100 per cent subsidiary of Sail and the formalities for the merger would be completed soon. “The state government would issue necessary notification for the revival of the project,” he said. He said his ministry has already sanctioned Rs 50 crore for the alloy steel plant and promised his ministry would not allow the plant to be a sick unit. “Alloy steel plant is a very important unit and whatever has to be done we will do to run it properly,” he said. Mr Paswan said the laboratory of the Bengal Immunity, which could not be revived, would be transferred to Bengal Chemicals, which had made a turnaround this year by making profit. “The Bengal Immunity cannot be revived but its laboratory is of high standard and will be transferred to Bengal Chemical,” Mr Bhattacharjee said. Mr Paswan agreed to Mr Bhattacharjee and said it was only a matter of transfer of assets and he would ask the concerned department to do it without any further delay. |
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Italians explore trade possibility
Chandigarh, August 31 The possibility of cooperation in the fields of industry, health, fashion designing, animal husbandry and dairy between the two countries was discussed. Mr Sanjay Kumar, Secretary, Industries and Commerce, apprised the delegation of the current status of industry and other infrastructure facilities available in Punjab. He said small and medium enterprises (SMEs) which were flourishing in the state and had international presence could share their experience and expertise with the SMEs having a large presence in Italy. Deliberations were also held on the health care system in the two countries with the Secretary, Health, Mr D.S. Guru. The possibilities of mutual trade were also explored in the discussions with industry representatives. They also visited a home decor unit in Mohali to get an idea of the situation and explore the trade potential. Industrialists were hopeful of a tie-up following this visit. They also took note of the activities of National India Institute of Fashion Technology (NIFT) and looked into the possibilities of collaboration in student exchange programmes and fashion design tie-ups. Mr Paolo said the delegation would work out details of the programmes that can be initiated in various fields as now they have a better insight into mutual areas of expertise, trade and industry. |
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Turbo-powered petrol Skoda rolls out
New Delhi, August 31 Priced at Rs 13.23 lakh (ex-showroom, Delhi), the new SkodaRS, which is the quickest vehicle in the D segment, is Euro IV compliant (Bharat II for the domestic market). The speedster, which delivers a breathtaking 0 to 100 kmph in 8.4 seconds with a maximum speed of 219 kmph and 38 per cent local content, will be sold through 34 dealers across the country. When asked about the sales target for the new offering, SkodaAuto India Managing Director Imran Hassen said the company is aiming to sell 8,000 units, including all models, from its stable this year. Last year, the Czech automaker sold around 5,000 cars. “We will launch the new Octavia in A5 segment by the next year,” he said, clarifying that Skoda will not phase out the current Octavia and will sell both along side. SkodaAuto plans to invest more in India in the near future to raise capacity at its only plant outside Europe and set up its first Research and Development centre outside its home country. The Aurangabad plant, sourcing 40 per cent of its components locally, will expand on its 15,000-car-per-year capacity, he added. Mr Hassen said the company expects break-even next year, but declined to provide revenue figures. In June, Skoda launched Superb with a price tag of Rs 23.45 lakh.
— UNI |
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Boeing lobbies for rebid
New Delhi, August 31 USA-based Boeing, which Airbus overtook as the world’s top commercial plane maker in 2003, is lobbying for the orders that are crucial to both companies as they battle a global industry slump. Addressing the media here, Boeing’s vice-president for sales division Dinesh Keskar said his company’s planes were best suited for India in view of the rising jet fuel prices combined with consistently newly-introduced non-stop, point-to-point routes to India by major international carriers and introduction of low-cost airlines throughout the region. He said this would require established Indian carriers to reduce cost while enhancing its product and service offerings and the Boeing aircraft were best suited. The IA’s fleet acquisition plan was estimated to cost Rs 10,089 crore involving the purchase of 20 Airbus A321s, 19 A319s and 4 A320s. The AI board had approved the proposal for acquisition of 10 medium capacity long-range (Airbus 340-300) and 18 small capacity short-range (Boeing 737-800) aircraft at an estimated cost of Rs 10,589 crore. Now, the Ministry of Civil Aviation has recalled both proposals and asked the airlines to prepare a fresh scheme to incorporate requirement of wide-bodied aircraft replacements. The ministry has also directed AI to include aircraft needs of its low-cost arm AI Express. In an offensive which its competitor Airbus would also have to follow suit, Mr Keskar said Boeing could reduce its quote for 43 IA plane deal by as much as Rs 700 crore if rebids were sought. “The Boeing 777-200 ER/LR is the right choice for AI also to increase its market share, enhance passengers’ flying experience and maximise profitability,” Mr Keskar said. |
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Foreign Trade Policy cheers exporters
New Delhi, August 31 President of Federation of Indian Export Organisations (FIEO) Rafeeque Ahmed said the “bold sector-specific initiatives” will impart a strong impetus to the growth of exports as well as employment. The policy aims to double India’s percentage share of global merchandise trade in the next five years, which means raising the country’s exports from $ 61.84 billion (2003-04) to around $ 195 billion at a compound annual growth rate of 33 per cent, assuming that world trade grows by 10 per cent. Such a high growth on a sustained basis for the next five years, Mr Ahmed said, would be challenging for Indian exporters. Welcoming the initiatives taken for promoting traditional sectors such as agriculture, handloom, leather and gems and jewellery, the FIEO president said this policy would give an impetus to employment generation. Mr Ahmed also welcomed the increase in duty-free entitlement from 3 per cent to govern for garments and handicrafts and this would encourage exporters to use quality trimming and embellishments to move up the value chain. The other major positive features commended by the FIEO chief are: removal of restrictions on import of second-hand capital goods, introduction of zero duty EPCG
scheme for the agriculture sector, and allowing storage and distribution facility for capital goods which should help in bringing down the post-product cost of exporters. President of the Confederation of Indian Industry (CII) Sunil Kant Munjal said the Foreign Trade Policy is “comprehensive, challenging and forward looking”. It presents schemes to develop exports across all sectors of the economy, it sets a target of doubling India’s chare in global trade and it presents a vision of India as a global hub for manufacturing, trading and services, Mr Munjal said. The special initiatives for agriculture, gems, jewellery, handlooms, handicrafts and leather and footwear will give an export thrust to enterprises in rural and semi-urban areas, the CII president said. |
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Video on Sikh history
New Delhi, August 31 Sikh Virasat (Heritage) 2004, brought out by the International Council of Punjabis
(ICP), contains a historical background of the primary Sikh scripture. ICP chief Manjit Singh said the 42-minute CD also carries narratives on Guru Angad Dev, the second Guru whose 500th birth anniversary was celebrated earlier this year. The video commemorates Baba Zorawar Singh and Baba Fateh Singh, sons of Guru Gobind Singh, ahead of the 300th anniversary in December of their martyrdom. The council plans to air the video on a satellite channel, said Mr Manjit Singh, son of slain Akali leader Jathedar Santokh Singh. The ICP said the CDs will be supplied free of cost.
— UNI |
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Airtel cuts post-paid rates
Chandigarh, August 31 Under the new Airtel One-150 entry plan with a monthly rental of Rs 150, customers can make local Airtel-to-Airtel calls at Re 1 per minute, a cut of 50 per cent and STD calls at Rs 2 per minute, a reduction of more than 30 per cent. The special local pack enables customers to make local calls to any GSM mobile phone at Re 1 per minute by paying an additional subscription fee of Rs 25 per month. Under the Special Local and STD pack, by paying Rs 75 as subscription fee, customers can make STD calls to any fixed or cellular GSM phone across the country at Rs 2 per minute. The userscan also make local calls to any GSM mobile phone at Re 1 per minute. |
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Big birthday card for Big B
Kolkata, August 31 The company today launched the ‘Eveready Card Yatra’, which will felicitate the megastar with the unique card on his birthday on October 11, 2004. Two thousand scrolls, carrying good wishes of Eveready partners from all over the country, would be used for the card.
— UNI |
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Joshi Autozone bags 2 MUL awards
Chandigarh, August 31 Joshi Autozone has won all-India number one position for the best performance in customer satisfaction in sales, second time in a row. Besides this, the dealer has won the best performance in CSI in service (Five- star workshop) at all India level. The awards were presented to the directors of Joshi Autozone by MUL’s Managing Director Jagdish Khattar. Last month, the Maruti dealer was ranked number one by MUL for scoring the highest points in the sales satisfaction survey. The survey was conducted on the lines of JD Power Asia-Pacific norms. |
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BPCL’s Lanka venture in final stage
Mumbai, August 31 Addressing the annual post-AGM press conference here last evening, Mr Behuria said BPCL has been shortlisted as the “preferred company” by the Sri Lankan Government’s disinvestment agency, the Public Enterprises Reforms Commission, that had put the government stake in Ceylon Petroleum Corporation
(Ceypetco) up for sale. — UNI |
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