 |
|
Kalam draws up roadmap for 10-12
Speaker agrees to debate on WTO
SEBI chief meets FM
Demerger of RIL becomes effective
Six DCM Directors resign
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||
Ambani brothers to invest in HP
Amarinder woos UAE
investors
Google takes AOL stake worth $1 b
Plea to probe 25 IPOs
GM hikes prices of Tavera
Anti-virus tech
Gold loses shine
New Lenovo CEO
|
|
Kalam draws up roadmap for 10-12 pc GDP growth
New Delhi, December 21 Addressing the 100th AGM of PHDCCI here today, Dr Kalam gave his vision for a vibrant India and identified a 5-point roadmap for achieving 10-12 per cent growth rate. “To meet the need of one billion people, we have identified five areas — agriculture and food processing, infrastructure, education and healthcare, information and communication technology and development of strategic sectors. These areas are closely interrelated and if properly implemented, will lead to economic and national security of our country in the coming years,” he said. Elaborating upon the inherent strengths of the country, Dr Kalam said with almost 50 per cent of the India's population under the age of 25, the universities and educational systems should create two cadres of personnel. “A global cadre of skilled youth with special skills and another cadre with higher education. These two cadres would be required not only for powering the manufacturing and services sector of India, but would also be needed for fulfilling the human resource requirements of various countries,” he said. He called upon the corporate sector to train the youth, without access to higher education, with skill-sets in allied sectors. Mr K N Memani, President, PHDCCI, said the focus of reforms has to shift to the states, which have to emerge as a centre of attraction for economic activity. The positive effect accrued to wealth creation at the state-level, would alone help us to realise our vision for 2020. The President also released a report ‘Emerging India — Knowledge Banking’ jointly prepared by the PHDCCI and Yes Bank.
|
|
Speaker agrees to debate on WTO
New Delhi, December 21 As soon as the minister apprised the House of the pro-active role played by India to safeguard the interests of the developing countries at the WTO, the Opposition members belonging to various parties demanded that the issue be debated in the House. The Speaker immediately accepted their demand, saying they would have a full discussion on the matter. ''I can assure you that the House will have a full discussion on the issue which is quite important,'' he said. He, however, asked the members to give a proper notice for discussion on the matter and then he would decide when it could be held. Mr Chatterjee, however, turned down their demand that they should be allowed to speak on the minister's statement. The Opposition members, demanding a discussion, charged that the country's interests had not been fully protected at the WTO conference. The members included Mr Gurudas Dasgupta (CPI), Mr Basudev Acharia (CPM), Mr Mohan Singh (SP) and Prof Vijay Kumar Malhotra. Earlier, in his statement Mr Kamal Nath said during the conference, India had been proactive in articulating its position on issues of concern to it and other developing countries, especially in the 21-member G-20 alliance and 45-member G-33 alliance. He assured the members that India played a key role in further strengthening the coalitions of the developing nations by bringing together the G-20, G-33 and G-90 groups of countries in a 'Grand Alliance' to ''reinforce each others' position on the issues of mutual interest''. Besides, India enabled the formation of NAMA 11 Group (of developing countries) to pursue and integrate meaningfully special and differential treatment issues in Non-Agricultural Market Access (NAMA) matters, he said. The Commerce Minister claimed that the Hong Kong Ministerial declaration had addressed India's core concerns and interests and provided enough negotiating space for future negotiations. He said the principal elements of the declaration showed ''significant gains'' for India. ''Developing countries like India would continue to benefit from the provisions in the agreement on agriculture and would be able to continue to provide marketing and transport subsidies for five years till 2018 after elimination of export subsidies in 2013.'' To safeguard farmers' interests against surge of imports or fall in international prices, the developing countries would have a recourse to a special safeguard mechanism with both import quantity and price triggers, he said.
— UNI
|
|
SEBI chief meets FM
New Delhi, December 21 Though Finance Ministry sources termed the meeting as "just a courtesy call", it assumes importance in the light of the recent bull phase in capital market and the crack down by the regulator on market manipulators. The current bullish trend has lot to do with not only domestic investors, but also foreign institutional investors (FIIs) who have pumped in about $10 billion this year after viewing the strong fundamentals of the Indian economy that posted 8.1 per cent growth in the first half of 2005-06. The meeting also comes three weeks after Lahiri panel submitted its report on 'Encouraging FII flows and checking the vulnerability of capital markets to speculative flow'. Damodaran, who also inaugurated a workshop on 'Capital Market for Financial Journalist' here, chose not to comment on the report. Expressing dismay at the spurt of denials by listed companies, SEBI chief today alluded to the difficulties of financial journalists as the intensity of competition hots up in the profession, but said they owe it to the society to impart correct information about the economy and the corporates. ''Journalists should play a responsible role for the development of markets and investors base. Many a times, when a price sensitive scoop comes into media, a routine denial is issued by the company after trading hours,'' Mr Damodaran said
here. He warned journalists against planted information on listed companies saying 'readers deserve a better deal'.
— Agencies
|
|
|
Demerger of RIL becomes effective
Mumbai, December 21 The High Court, in its order on December 9, sanctioned the scheme of arrangement among the group companies, RIL informed the stock exchanges. The High Court had approved the arrangement between RIL and the Anil Ambani group companies, Reliance Energy Ventures Ltd, Global Fuel Management Services Ltd, Reliance Capital Ventures Ltd and Reliance Communication Ventures Ltd. The court also approved the arrangement between the company and the respective shareholders and creditors, for demerger of the ADAE-controlled coal-based and gas-based energy entities, financial services company and the telecom venture into each of the resulting companies, respectively. The company had earlier filed a petition seeking changes in the company’s shareholding pattern as part of settlement between the Ambani siblings.
— PTI
|
|
Mumbai, December 21
|
|
Six DCM Directors resign
New Delhi, December 21 The company has informed the stock exchanges that the Board has accepted the resignation of the six Directors and appointment of three others as Directors. When contacted, a top company official declined to comment on the reasons for the resignation of the six Directors. Meanwhile, the Board in its meeting held yesterday, approved the appointment of Mr Surender Nath Pandey as the Chairman and Mr Nareshn Kumar Jain as Managing Director, along with Mr Jitendra Tuli as Director to the Board. The other Directors, who have resigned from the Board, include PK Jain, DH Pai Panandikar, Shashi Ullal and Bipin Maira.
— PTI
|
|
Ambani brothers to invest in HP
Shimla, December 21 He said consent of the two brothers was conveyed to him on the
telephone and details would be finalised after meetings with
them. Reliance Energy, headed by Mr Anil Ambani, had shown a keen
interest in exploiting the hydro power sector in the state. He said
Raliance Enegry had sent his bids for the 15 projects that were
advertised by the government. The CM said the Reliance group of Mr
Mukesh Ambani would be investing in the agro-based sector. — UNI
|
|
Amarinder woos UAE
investors
Chandigarh, December 21 Although, the communication infrastructure in India was commensurate
with the requirements of the international investors, Capt Singh at
his meeting highlighted the need for more investment in power
generation in view of the states potential for further development.
He briefed Sheikh Hamed about the progress made by the state in
different sectors and the special emphasis laid by his government for
the promotion of industries, infrastructure, tourism and associated industries. He
offered cooperation in the field of agriculture and
tourism as well and invited the Sheikh to visit Punjab. The Sheikh
agreed to visit Punjab after receiving the specific proposals from the
state government. — UNI
|
|
|
Google takes AOL stake worth $1 b
Silicon Valley, December 21 With the deal, California-based Google cements its relationship with one of its biggest customers. AOL accounted for 8 per cent of Google’s $ 1.6 billion gross revenue for the period ended September, 2005, Red Herring magazine reported. Under the terms of the deal, AOL said it would be able to sell search advertising directly to advertisers on its own properties using Google’s technology. Before the deal, Google controlled the advertising, as the ads appear whenever users perform searches using the company’s technology. For Time Warner itself, the deal means much more than a cash infusion. It’s a shot at boosting ad revenue that could offset the decline in revenue from AOL’s eroding subscriber base, Red Herring said. Under the deal, not only will Google promote AOL’s sites in the sponsored links in its search results, but AOL will also receive $ 300 million worth of advertising, sources within AOL said.
— PTI
|
|
|
Plea to probe 25 IPOs
Mumbai, December 21 “Of major public offers during the past six months, small Investors’ section applications should be investigated to find out similar addresses,” IGF President Kirit Somaiya said in letters to Finance Minister P. Chidambaram and SEBI wholetime member G. Anantharaman. Major companies like ICICI Bank, ABG Shipyard, Piramyd Retail, Bombay Rayon Fashion Ltd raised money through IPOs or follow-on public offers after June, when Yes Bank came out with its IPO. Briefing about the letters, Mr Somaiya said NSDL and CDSL should be asked to look into demat accounts with similar addresses during this calendar year. Accounts with depository participatory companies, run by brokers, should be investigated first. NSDL has 219 DPs and 557 DPs are with CDSL.
— PTI
|
|
|
GM hikes prices of Tavera
New Delhi, December 21 Post-price hike, the different variants of Tavera will now be available at a price range between Rs 5,99,990 and Rs 8,87,850. Besides Tavera, GM India also manufactures Chevrolet Optra, Opel Corsa and Opel Corsa Sail at its facility in Halol, (Gujarat). GM India also sells imported Opel Vectra and Chevrolet Forester. Car manufacturers in India are increasing their prices due to a variety of “cost-push factors”, which impacted production during the second half of 2005. The hike is also being implemented to offset cost increases over the year. Hyundai Motors India and Tata Motors have already increased the prices of
their vehicle on account of increased in put costs. Maruti has made its intention to hike the
prices in the New Year. — UNI
|
|
|
Anti-virus tech
Chennai, December 21
|
|
Mumbai, December 21 Standard gold (99.5 purity) opened notably lower at Rs 7,285 per 10 gm, but later found some low-level support and recovered to close at Rs 7,315 per 10 gm, however, revealing a huge fall of Rs 145 over yesterday's close of Rs 7,460. Similarly, pure gold (99.9 purity) also resumed sharply weak at Rs 7,325, but managed to recover some of the early losses on fresh support and closed at Rs 7,355, also revealing a big fall of Rs 145 over the previous close of Rs 7,500 per 10 gm. — PTI
|
|
|
San Francisco, December 21 Mr William Amelio, Dell’s former Asia-Pacific chief and an architect of the US titan’s growth in the fast-expanding region, joins Lenovo as its new CEO, Lenovo said yesterday in a statement released in the USA. — Reuters
|
bb
IOC raises $300m loan Radiant Info to invest $10 m Glenmark Pharma Fiserv India Stock split |
| HOME PAGE | |
Punjab | Haryana | Jammu & Kashmir |
Himachal Pradesh | Regional Briefs |
Nation | Opinions | | Business | Sports | World | Mailbag | Chandigarh | Ludhiana | Delhi | | Calendar | Weather | Archive | Subscribe | Suggestion | E-mail | |
