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IBM plans $6 b investment
Samtel plans expansion
Minimum area for IT, biotech SEZs retained
Biotechnology-based units ideal for HP, says PHDCCI
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WB may allow HM to sell surplus land
Ban on pre-activated mobile phones sought
Dunlop row resolved
SAIL to invest Rs 25,000 cr
Chhattisgarh set to become ‘diamond bowl’
RFRL eyes natural gas distribution
Titan Q4 net profit up 153 pc
Tata Tele to spend Rs 255 cr in West Bengal
New Bolero launched
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IBM plans $6 b investment
Bangalore, June 6 The investment, which will be put in place over the next three years, is triple the $ 2 billion the company has spent in India over the last three years. A part of the investment will be used to develop a telecom research centre in Delhi with the aim of offering “one-stop shopping” for software, services and hardware. Besides this, research businesses will also get a boost. Making the announcement while addressing nearly 10,000 company employees here, the firm’s Chairman, Mr Samuel Palmisano, said the company was determined not to miss the opportunity to invest in the country, which along with other developing economies was increasingly responsible for its global success. Since acquiring outsourcing firm Daksh two years back, IBM has grown at a phenomenal pace and presently employs 43,000 personnel across 14 cities, which its says is the largest multinational presence in the country. Mr Palmisano said IBM’s plans in India included centres to automate information technology services. He said the company would also develop a telecommunication research and innovation centre in Delhi and install a hub to link company consultants, developers, engineers and researchers. The company had opened a centre in Bangalore last year, which combines key functions, helps customers improve supply chain functions and monitors banking risks and compliance. The meeting, being held in Bangalore, comprises of the company’s first investor conference outside the USA. Besides Mr Palmisano, top company officials, including Chief Financial Officer Mark Loughridge, are attending the two-day event. Meanwhile, President A.P.J. Abdul Kalam advocated a joint venture between Indian enterprises and academic institutions and the world’s largest computer services company IBM to develop and market nano computers. Speaking at the IBM investors’ meet here, the President said the future belonged to nano technology. He said future computers would essentially be micro sized and linked through wireless communication. Most significantly, he said, they would be wearable. Throwing down the gauntlet at IBM Chairman Sam J. Palmisano, the President asked whether the country and IBM could “think” together to design and market nano computers with capabilities of 10 terabytes per sq inch in an eight nanometre-size chip. “You may have many experiences,” he said while referring to the IBM Chairman and asking him whether such a feat was possible. Mr Kalam said he had made the suggestion as the IBM was passionate about its founder Thomas J. Watson’s vision of “thinking” as a launch pad. “I have made this suggestion while thinking of what can be launched from IBM’s launch pad in India.” He said India and IBM could use their core competencies to launch a product which would make a change in the world of computers just as Watson’s “think” slogan. The President stressed the need for adopting cutting-edge technology through cooperation. “Creativity must be the business of IBM and other knowledge organisations,” he said while saying one should not be cowed down by predictions that computational ability of an ordinary computer would be 1,000 times that of an average human being by 2029. “My view is that creativity of the human being will always be more superior to the most powerful computers,” he added. |
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Kanpur, June 6 “By next year the total picture tube capacity of the company will reach about 10 million units from the current level of half a million as our capacities are being expanded,” Samtel Colour Ltd Chairman and Managing Director Satish K Kaura said here. He said the company had invested about Rs 310 crore in total for expanding the existing capacity of its Dadri (UP) plant and setting up a greenfield plant at Kota in Rajasthan. Mr Kaura also said the company planned to foray into the plasma and flat screen manufacturing. — PTI
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Minimum area for IT, biotech SEZs retained
New Delhi, June 6 The EGoM, headed by Defence Minister Pranab Mukherjee, retained the minimum land area requirement of 10 hectares and minimum built-up area of 1 lakh sq m for the IT SEZs. This is the same as already notified in the SEZ Rules by the Commerce Ministry, an official press note said. The SEZs for gems and jewellery would require a minimum land area of 10 hectares and 50,000 sq m of built-up area, while the bio-tech and non-conventional energy SEZs would need 10 hectares and 40,000 sq m, respectively. The controversy over the minimum land arose after the Finance Ministry raised objections, saying that the area should be at least 25 hectares for such SEZs on grounds that there would be revenue leakage if the area was reduced. Following this objection, an EGoM was set up to resolve the issue that had led to serious differences between the Commerce and Finance ministries. For all other multi-product, multi-services and sector-specific zones, the land area requirement would remain the same as notified in the SEZ Rules. The multi-product SEZs must have an area of 1,000 hectare, while the multi-services and sector-specific SEZs should have a minimum area of 100 hectare. The EGoM has also stipulated that the processing area in the SEZs would be 35 per cent, the press note said. After the meeting, Commerce Minister Kamal Nath said with the resolution of the issues relating to the implementation of the SEZs, there would be a significant flow of investment into these zones. “Investment of the order of Rs 1,00,000 crore over the next three years in infrastructure development of SEZs and in setting up of units has been estimated on the basis of projections made by promoters at the time of seeking approval for establishment of SEZs by them,” he said. So far, 164 new SEZs have been approved in private sector, eight of which have become operational. — PTI
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Biotechnology-based units ideal for HP, says PHDCCI
Shimla, June 6 The climatic and geographical conditions in the state were ideal for biotechnology- based projects with huge potential for employment generation, besides improving the economy. By adopting activities such as diversification of crops, organic cultivation of high value herbal and aromatic plants. using tissue culture, biochemicals and biopharmaceuticals, a new era of knowledge- based, environmentally clean industry could be created, the chamber observed. Approximately 66 per cent of land was under forest cover and the state had as many 175 of the total 500 medical plant species used in India. There was need for creating a well-developed scientific cluster, which gave the competitive edge to the region. The state government should create a healthy institutional framework with support network, including agencies, to provide venture capital funds. It suggested that biotechnology practices be adopted for seeds, fertilisers and pesticides, which had the potential to change the dimensions of food and agriculture sectors. Opportunities existed in biofuels, bio-pesticides, phyto-chemicals, bioinformatics, diagnostics- based industries, and biotech- based production of seeds, pharmaceuticals and nutraceuticals. It called for adopting a public-private partnership model for setting up new biotechnology practices. The University of Horticulture and Forestry should develop biotechnology professionals by providing training and it should be promoted as a world-class centre for biotechnology to research and development institutes and universities should take lead in developing technologies for increasing the shelf life of the produce and to impart practical training to farmers for proper handling, cropping, storage, packaging and transportation. Biotechnology could help increase productivity in agriculture, floriculture and horticulture sectors, it said.
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WB may allow HM to sell surplus land
Kolkata, June 6 A state government official said today that the Industrial Reconstruction Department had recommended to the Land Reforms division that the company, although not sick, qualified for the sale of land because it was `weak’ as it had been making sustained losses for the past few years. According to the official, the Land Reforms Department would now take a decision on allowing how much surplus land would be sold for the purpose of revitalising the company. The company had sought permission for the sale of 314 acres of surplus land for developing a township and other industrial activities. As per section 14Z of West Bengal Land Reforms Act, the government could allow the sale of land only by sick industrial units the proceeds of which were to be used for revival of the company. The land at Uttarpara in Hooghly district, where the HM unit is located, is vested with the state government for which the company pays a rent. The company had been mulling for long to sell identified surplus land of the Uttarpara unit, which primarily manufactures the age-old Ambassador cars. HM had earmarked foray into real estate development in the identified surplus land and ploughing back the resources generated back into the company in the form of investments. Asked how long the state government would take in making a final call on the issue, an official in the LR Department said that rules were being framed at the moment for implementing the Act. The matter might also be referred to the Cabinet, if required, the official said. The official said that land valuation would be done by the District Collector, adding that the state government would also seek a percentage from the total proceeds of the sale. The entire exercise might take a month, the official said. The Uttarpara unit of the company is located on an approximate 1,000 acres. — PTI
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Ban on pre-activated mobile phones sought
New Delhi, June 6 The proposals sent to the Home Ministry contain some strict provisions relating to the identification of a subscriber and a virtual ban on pre-activated phones, which are available in plenty in the market, thanks to the “bundling” of phones with immediate or pre-activated connectivity, sources said. The bundling system worked well for both service providers and vendors, as otherwise getting a mobile connection usually took the subscriber a minimum 24 hours. Operators were offering these type of services in their attempt to outsmart each other in luring as many subscribers and in the process circumvented the licence guidelines pertaining to user verification. “This will be put to an end formally once the Home Ministry okays it (proposal),” a source said. Industry sources said operators had already stopped offering pre-activated phones to subscribers from as early as the second week of May. Other proposals sent by the DoT pertain to identification of subscribers belonging to various economic strata like domestic helps, who may not have a permanent residence. The proposal says that employers of such domestic helps can certify before a mobile phone company to provide connection to them and can also ask the company to disconnect once the employee moves out. Any existing mobile-phone user would also be eligible to introduce a new user. A scheduled bank branch manager also can certify a potential mobile subscriber if the person has an account in that bank. — PTI
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Kolkata, June 6 The meeting called by state Labour Minister Mrinal Banerjee was attended by senior officials of Dunlop, Mr Pawan Ruia, Chairman of the Ruia group, which currently owns Dunlop, and representatives of the unions. Later, Mr Banerjee said the problems over the parameters concerning payments and the early retirement scheme had been sorted out. The meeting resolved that those who had worked for one day before August 19, 2001, would be paid Rs 2,770 and those who had worked for more than one month would be given Rs 5,000 in the first instalment. Earlier, the new management had refused inclusion of the paid holidays within the count of 281 days. With the solution of the problems Dunlop’s Sahagunj factory is set to open by October or December. Dunlop, which has been lying shut for the plast five years, was reopened for maintainance work in April. But problems regarding the payment norms cropped up leading to the stoppage of work. — UNI
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SAIL to invest Rs 25,000 cr
New Delhi, June 6 SAIL has worked out a long-term strategy, 'Corporate plan - 2012', to garner a major chunk of the domestic market share and to render itself globally competitive.
— PTI |
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Chhattisgarh set to become ‘diamond bowl’
Shimla, June 6 All big diamond companies of the world like De Beers, Milton and Geo Mysore had obtained prospecting licences and mining of the precious stone by them would commence within the next two years, Dr Raman Singh, who is on a three-day visit to Himachal Pradesh, told mediapersons during an informal chat at the Potters Hill Camp, near here. He said potential of diamond mining in Chhattisgarh was even better than Botswana. The prices of diamond would fall once the state’s product entered the market. |
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RFRL eyes natural gas distribution
New Delhi, June 6 While Reliance Gas Pipelines Ltd, a subsidiary of RIL, plans to set up CGD networks in Chennai, Vijaywada, Kakinada, Visakhapatnam, Nalgonda, Hyderabad, Pune, Sholapur and Thane to supply natural gas through pipes to households, commercial users like hotels and hospitals and also for automobiles, the Anil Ambani group firm is keen on metros like Delhi and Mumbai. RFRL last week formally put in an application for CGD licences in Delhi and Mumbai, official sources said. However, the company spokesperson did not immediately comment on the proposal. Currently, Indraprastha Gas Ltd (IGL) retails gas in Delhi and Mahanagar Gas Ltd (MGL) is involved in sale of gas in Mumbai.
— PTI |
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Mumbai, June 6 The company said its total income had increased from Rs 318.77 crore in Q4 FY-05 to Rs 424.03 crore for Q4 FY-06. It has posted a net profit of Rs 73.62 crore for the year ended March 31 as compared to Rs 24.95 crore for FY-05. Its total income had increased from Rs 1,099.45 crore in FY-05 to Rs 1,442.61 crore for FY-06. The Board has recommended a dividend of 30 per cent as against 20 per cent last year. HDFC net up HDFC today posted a 21.32 per cent increase in consolidated profit after tax at Rs 1,349.15 crore for the year ended March 31 as compared to Rs 1,112 crore for 2004-05. For the year 2005-06, the total consolidated income of the group rose by 26.14 per cent to Rs 4649.25 crore from Rs 3685.6 crore during 2004-05, HDFC said.
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Tata Tele to spend Rs 255 cr in West Bengal
Kolkata, June 6 ‘’We are also planning to increase highway coverage from 450 km to 1350 km,’’ Mr Garg added.
— UNI |
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New Bolero launched
Mumbai, June 6 |
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