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Microsoft signs $ 8-m pact with Infosys
More airports to take off
LIC market share down by 6 pc in H1
HP financial crisis may turn worse
Networking of SMEs in C’wealth mooted
Libra to ply bus to Lahore
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Dabur to take up ‘honey issue’ with NZ
Fertiliser industry seeks price review
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Microsoft signs $ 8-m pact with Infosys
Bangalore, November 15 The industry-specific and cross-industry solutions combine Infosys’ consulting, research, intellectual property and project methods with the latest Microsoft .NET software, the statement said. “Using Infosys’ modular global sourcing model, which allows for a targeted, evolutionary approach to sourcing IT, clients can deploy these Microsoft-based solutions in a rapid, strategic, and highly cost-effective manner and use the cost advantage to fund new IT projects and increase business advantages,” it said. The CEOs of Infosys and Microsoft Nandan M. Nilekani and Steve Ballmer met at the Infosys Headquarters here today.
Ballmer meets Premji
Wipro Limited today said it has aligned closely with Microsoft Corp. to accelerate business, and expects growth from Microsoft-related business to gain momentum. Steve Ballmer met Wipro Chairman Azim Premji at Wipro’s headquarters here. According to Wipro, with more than 5,000 employees focused on delivering Microsoft technology solutions to customers, Wipro has established separate practices to support Microsoft .NET and infrastructure related business opportunities in response to customer needs and accelerating business growth. Within the past five years, Wipro has rapidly expanded its Microsoft related business and expects the growth to gain momentum, the company said in a statement. Wipro recently aligned key internal business units to provide a broader range and a suite of Microsoft-related consulting services to enterprise customers. Wipro said it has recently collaborated with Microsoft on joint solution development covering seven key focus areas: business process management, retail point of sale, RFID, zero touch deployment, hospital information system and the store manager workbench.
— PTI
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Opens Hyderabad campus
Hyderabad, November 15 Chief Minister Y. S. Rajasekhara Reddy formally inaugurated the first phase of the facility in the presence of Microsoft Chief Executive Officer Steve Ballmer, who laid the foundation stone for the second phase. The first phase of the Microsoft India Development Centre (MIDC), coming up in 28 acres of land out of the total 42 acres adjacent to the Indian School of Business at Manikonda, near Hyderabad, is expected to have a built-up area of around 175,000 sq ft at a cost of over Rs 50 crore The company will increase the capacity of its campus after the completion of the second phase in 2006 to about 3,000 staffers, government sources said. Mr Ballmer himself did not commit to any figure, but added that he was sure hundreds would be hired for the expanded facility in the next 12 months. “Our India Development Centre plays an important role in contributing to innovation at Microsoft,” Mr Ballmer, who is on a three-day visit to India, said. The Microsoft CEO’s reluctance for exact numbers could be attributed to the concerns back home about loss of jobs to India. Reporting the company’s plans to double the size of its facilities in India, the Seattle Times remarked that the company appeared to be accelerating expansion plans in India, even while it
recently laid off technical workers in Redmond and slowed its rate of job creation in the USA. At present, Microsoft is running its operations from a rented facility at Hi-Tec City here. The centre, which became operational in 1998, currently employs about 800 people in product development and support services in Hyderabad. Microsoft Chairman Bill Gates committed an investment of $ 400 million in India over three years in 2002.
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More airports to take off
New Delhi, November 15 According to reports, the Ministry of Civil Aviation is working on feasibility reports. After they are complete, it would approach the Union Cabinet not only for their clearance but also for finance to fund these airports. The ministry has also identified potential areas for developing these new airports, which would be on the lines of the
Greenfield airports being developed at Bangalore and Hyderabad. It would also allow private and foreign funding which was recently cleared by the Union Cabinet. Last month, the Union Cabinet had cleared increasing foreign direct investment (FDI) in domestic airlines from 40 per cent to 49 per cent. Earlier, Civil Aviation Minister Praful Patel had said the NDA government’s decision to allow 74 per cent FDI in domestic airports would come under review and it would allow 49 per cent for privatisation of Mumbai and Delhi airports. While the level of FDI is capped at 49 per cent, 25 per cent must be with an Indian partner and the rest would be held by the Airports Authority of India (AAI). For the new airports, the ministry is expected to soon start the feasibility study at the five locations which have been identified. Incidentally, officials of the Civil Aviation Ministry pointed out that the majority of the new airports would be developed in the region from where Mr Patel comes. Officials said as of now at least five more new airports would come up and would be partly funded by the government. While some of them would be developed as domestic hubs, others would be world-class international airports. Officials pointed out that global as well domestic travellers require comfortable experience at airports in terms of more advanced amenities such as information and help desks, communications connectivity and rest areas.
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LIC market share down by 6 pc in H1
New Delhi, November 15 The life insurance industry was growing by more than 50 per cent with premium income from new policies crossing Rs 8,425 crore till September this fiscal. LIC mopped up Rs 6,832 crore in premium income, selling 81.81 lakh new policies during April-September this fiscal, according to data compiled by regulator IRDA. The state-owned insurer, however, lost 6 per cent of its market share to 81.09 per cent till September from 87 per cent in March-end 2004. LIC had a market share of 94.34 per cent till March-end 2003. The loss in market share was despite the fact that LIC was growing by 65 per cent till September, which is much higher than its target of 35 per cent growth for this fiscal. Private players mopped up Rs 1,593 crore in premium income in the first half to corner 19 per cent of
market pie. ICICI Prudential Life continues to lead the private space with a market share of 5.68 per cent, followed by Birla Sunlife (2.81 per cent), Bajaj Allianz (2.26 per cent), SBI Life (2.01 per cent), HDFC Standard Life (1.51 per cent) and Tata AIG (1.33 per cent).
— PTI
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HP financial crisis may turn worse
Shimla, November 15 The state has been raising about Rs 2,500 crore, including SLR loans, every year and managing the affairs by keeping the non-SLR borrowing within the figures projected in the medium term fiscal restructuring plan. The state was allowed non-SLR borrowings to the tune Rs 1,084 crore last year and Rs 1,017 crore in 2003-04. The projected figure for the current year as per the restructuring plan was Rs 1,295 crore but the Centre has permitted the state to raise only Rs 750 crore. The state is required to bring down such borrowings progressively under the fiscal reform programme. However, the state government has not been able to do so but has been reassuring the Centre that its non-SLR borrowings will not exceed the figures projected in the medium-term fiscal restructuring plan. It is worth mentioning that the non-SLR loans were limited to Rs 508 crore for 2001-02. The limits was raised in the election year and it remains to be seen whether the Centre sticks to the limit of Rs 750 crore or raises it to provide some relief to the state. Officers of the finance department maintain that the state will have to raise non-SLR loans to the tune of Rs 1,150 crore to make both ends meet and if the limit is not raised the state will plunge into a serious financial crisis. The process of reforms is likely to be sped up over the next three months as it is the last year to carry out these measures and claim the withheld reform-linked revenue deficit grants. The government is likely to bring a bill to implement pensionary reforms during the ensuing winter session. The Centre has already approved a contributory pension scheme for its employees and the state has to follow suit.
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Networking of SMEs in C’wealth mooted
New Delhi, November 15 “We are keen to help promote regional cooperation through the networking of SME support agencies and undertake joint activities through pooled resources”, Minister for Small Scale, Agri and Rural Industries Mahabir Prasad said here. He was speaking at the Commonwealth-India Small Business Competitiveness Development Programme. The minister also said the government was considering bringing about various innovative growth mechanisms to pitchfork the small-scale sector into a high-growth trajectory. Stating the finance is the “lifeline” for all economic ventures, he said the availability of both short-term and long-term credit has been the major impediment in the growth of small and medium enterprises.
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Libra to ply bus to Lahore
Ludhiana, November 15 According to Mr Fateh Singh Libra, Managing Director of Libra Bus Service, the company will provide the high-powered Volvo Bus to the DTC. The earlier bus operated by the DTC has now been phased out. The DTC had asked the private operators to offer bids and the route was allotted to Libra Bus Service. Mr Libra said it was for the first time that a private bus service would be plying a bus on an international route. The bus was being plied till now has 35 seats while the new Libra bus has 45 seats, thus creating a capacity of 10 more seats. Mr Libra said, the company was already running super de luxe Volvo buses on the Katra-Delhi route and would soon start services on the Chandigarh-Delhi and Ludhiana-Delhi routes.
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Dabur to take up ‘honey issue’ with NZ
New Delhi, November 15 Confirming this, Mr S Dave, Director, Agricultural and Processed Food Products Export Development Authority (APEDA), said it would ask New Zealand why they have banned the import of honey and seek the help of its foreign commission there to take up this issue with the Kiwi authorities. Last week, Kiwi officials started tracking down the entry and reach of Dabur Honey, after an Auckland beekeeper reported its sale in local ethnic shops.
— UNI
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Fertiliser industry seeks price review
New Delhi, November 15 In a pre-Budget memorandum submitted to the Finance Ministry, the FAI said a review was necessary for all the three segments in a “holistic manner with an objective to move towards total decontrol of fertilisers both in terms of price and distribution to control subsidy outgo and sustained growth of industry”. The FAI also sought exemption from levy of service tax on inputs used in the manufacture of fertilisers.
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