The Tribune, Chandigarh, India

	Doha round impasse resolved: Minister Bhagyashree Pande Tribune News Service New Delhi, September 4 The informal meeting of the trade and commerce ministers of key World Trade Organisation (WTO) member countries agreed today to resume negotiations on September 14 for a week in Geneva. A visibly pleased Commerce and Industry Minister Anand Sharma at the conclusion of the two-day meet said, “The Delhi meeting has managed to break the impasse of the Doha round.” The global trade talks are stalled since July last year. This was an important step for Anand Sharma, who as a new minister has been able to restart the stalled trade talks process. India has always been seen as a spoiler in the talks. However, this meeting has re-established India’s leadership role in the multilateral talks. Sharma has refused to state India’s position on the agricultural trade barriers that helped scuttle a draft deal outlined by WTO chief Pascal Lamy. In July 2008, the talks had collapsed after India and other developing countries opposed the agriculture subsidies offered by developed nations to their farmers. The developing countries argued that the new subsidy would distort trade by making the produce of their countries costly. India had insisted that developing countries should have the right to impose steep tariffs to protect their farmers if there was an increase in import of farm products under a new trading deal. At the end of the two-day talks, it is very clear that there has been no change in the position of these countries on the matter. The important issue that still remains is about the position of the developed world - the US and EU - towards the developing world like Africa, India, Brazil etc. Lauding India’s initiative to revive the stalled WTO negotiations, US Trade Representative Ron Kirk said: “The US Administration is committed to the completion of the Doha Talks by 2010.” However, Brazil said the developing countries had already made enough concessions and new demands should not be made on them. “At this point of the game, we all have empty pockets, notably after the outset of the world economic crisis,” Brazil’s foreign minister Celso Amorim said. On a cynical note that the 2010 targets would not be feasible, he said most of the nations would find it difficult to live up to the efforts and reforms that the new commitments would require. The talks could produce a deal that boosts the global economy by $300-700 billion a year, according to one recent study, although other estimates of the benefits have been lower.
	IONNOR bags export award; to up headcount Sanjay Khurana Tribune News Service Chandigarh, September 4 Mohali-based IT company IONNOR Solutions, a joint venture of the ERGO group of Norway and ION Solutions Pvt Ltd, has been conferred with the Fast Trackers Award by Software Technology Parks of India at the STPI Software Exports Awards for 2008-09 session held as part of the e-Revolution 2009 conference held here yesterday. CEO Mandeep Buttar received the award from Pradip Mehra, adviser to the UT Administrator. Talking to The Tribune today, Buttar stated: “We have aggressive plans for the current fiscal and plan to raise the headcount by 500 in our offshore offices by 2012-end. All hiring would be done from within the country. Also, we will augment the employee strength at our Mohali office from 120 at present to 200 by this fiscal end.” STPI has adjudged IONNOR Solutions as one of the fastest-growing offshoring firms in Punjab with a focus on delivering services from India to the Scandinavian countries - Norway, Sweden, Finland and Denmark. Buttar, who set up ION Solutions Pvt Ltd in 2003, later went to Canada and worked with a shipping company before heading to Norway. There he teamed up with the Norwegians before deciding to return to India to try out his business model here. A few months back the company inked a joint venture pact with ERGO, offloading 51 per cent stake to the Norwegian group. The JV posted a turnover of 1.5 million euros in 2008-09 and has targeted sales of 2.5 million euros by this fiscal end. The company deals primarily in software development and maintenance in the field of ERP systems, mobility, business intelligence, data warehousing and integration tools. It provides 24X7 support in applications, monitoring and technical infrastructure. It is now focusing on sectors like marine transportation, banking and insurance, warehousing, retailing and government sectors in Norway, besides healthcare systems. New business lines envisaged include R&D, testing, training and IT infrastructure. The company has developed a unique web support system (WSS), an indigenous multipurpose comprehensive online call/request tracking system that helps in organising and tracking all information and work flow on a round the clock basis to global clients.
	NTPC sidesteps RIL attack New Delhi, September 4 Irked by the response of Reliance Industries on resolving an issue coming in the way of the gas contract, power PSU NTPC today said it had asked the Mukesh Ambani-led company to lift fuel alloted by the government. At the same time, the corporation refused to join issue with RIL, which attacked it for not reciprocating on a 2004 deal to sell gas at $2.34 per mmBtu, saying: “The facts of the case are before the High Court. Hence, NTPC does not want to comment on this.” NTPC took RIL to court in 2005 over the alleged failure of the Mukesh Ambani-led company to implement a gas supply contract. RIL has in the recent past written a number of letters to the Power Ministry questioning the role of NTPC in the dispute as also the corporation’s failure to lift the fuel that was allotted by an empowered Group of Ministers (eGoM). “With respect to allocation of KG-D6 gas by an eGoM for NTPC’s existing gas-based power stations, various issues for signing the agreement with RIL have been resolved, except for one,” the power PSU said, adding that a solution suggested by NTPC to RIL was not acceptable to the Mukesh Ambani-led company. In a notice to stock exchanges, it said: “NTPC is further discussing with RIL for early resolution of the issue”, but did not elaborate on the irritant. The eGoM had allocated gas from RIL’s KG basin fields to NTPC’s Anta, Dadri and Faridabad power stations. “NTPC is committed to drawing the (eGoM) allocated gas for its NCR gas-based power stations at Anta, Dadri and Faridabad, without prejudice to its rights and contentions in the ongoing suit between NTPC and RIL... before the Bombay High Court,” the PSU said. The government had allocated 2.67 million standard cubic metres of gas per day from RIL’s eastern offshore KG-D6 fields to NTPC, but unlike the 35 other customers identified for the gas, the state-run firm is yet to sign a Gas Sales and Purchase Agreement (GSPA). Prasad contended that NTPC’s reluctance to sign an agreement to buy gas from it could mean a loss of Rs 15,000 crore to the corporation on buying imported LNG. — PTI
	India asked to plug IMF funding hole London, September 4 Finance Minister Pranab Mukherjee began meeting with his counteparts from Brazil, Russia and China ahead of a G20 meeting here today, as two key European leaders said India should help replenish a massive funding gap in the International Monetary Fund (IMF). Mukherjee, participating in his first Group of 20 meeting as finance minister, met Guido Mantega of Brazil, Xie Xuren of China and Alexey Kudrin of Russia to firm up the position of the BRIC group ahead of the full G20 meeting tomorrow. The BRIC ministers, representing countries that are on an economic growth trajectory, are expected to renew calls for a greater say in the running of the IMF, including a bigger share of voting rights. The BRIC meeting also follows a call by the finance ministers of France and Germany for India and other emerging economy-members of the G20 to increase their contributions to the IMF. “Other countries like India, Saudi Arabia and other emerging markets can be expected to make pledges and we should continue to call on them to join the international effort,” Christine Lagarde of France and Peer Steinbruck of Germany wrote in a joint letter. G20 leaders, including Prime Minister Manmohan Singh, agreed at their London summit in April to add $500 billion to the IMF, particularly to help poor countries grapple with the credit crunch - part of a massive $1.1 trillion rescue package announced by British premier Gordon Brown at the summit. The EU had then offered to provide about $100 billion, but France and Germany earlier this week said that sum should be raised to $175 billion. Britain has urged Europe to set an example and do more to meet the target of $500 billion pledged to the IMF. Britain has agreed to lend up to $15 billion to poorer economies and is willing to provide up to $11 billion more as part of an EU package. The G20 comprises Argentina, Australia, Brazil, Britain, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the US and the European Union. — IANS
	FDI norms eased for small enterprises New Delhi, September 4 To help cash-strapped micro and small enterprises attract higher overseas investment, the government today liberalised the FDI norms for the sector replacing the current 24 per cent ceiling on foreign holding with the sectoral caps. These industries will now be guided like other large enterprises as far as FDI is concerned. "The present policy on FDI in MSE permits FDI subject only to the sectoral equity caps, entry routes and other relevant regulations," according to Press Note 6 issued by the Department of Industrial Policy and Promotion. However, if non-medium and small enterprises manufacture any of the 21 items, including pickles, aluminium utensils, reserved for MSEs, any FDI above 24 per cent will require the Foreign Investment Promotion Board's approval. The new note replaces press note 18 of 1997 which stipulated that for foreign collaboration, maximum equity participation for small scale units was 24 per cent. As per the old note, proposals for inducting foreign equity of more than 24 per cent was subject to the condition that the firm would get itself de-registered as small-scale unit. A senior government official said the move will bring in more FDI into the MSE sector which is starved of funds. CII National MSME Council chairman Salil Singhal said, "this would help the sector obtain equity support and reduce their credit requirement. This will help the small sector pole vault to their next stage of growth and development." — PTI
	Audi rolls out new SUV Tribune News Service Ludhiana, September 4 German luxury carmaker yesterday launched its latest SUV Audi Q7, which will be available with three engine variants. The new model with three engine options - 3.0 TDI Quattro, 3.6 FSI Quattro and 4.2 FSI Quattro - would be available all over the country from the day of its launch, GM Sales Anil Reddy said. “The Audi Q7, with a price tag of Rs 54 lakh, is a sporty, comfortable, high-performance car for both leisure and business. It is the largest Audi that customers were looking for,” he said, adding that the company would open its exclusive outlet by December this year. He said the company chose Ludhiana over other metropolitans for the launch as the city had great purchasing power. The city had seen the launch of Mitsubishi’s Outlander in January and Mercedes-Benz’s M-Class in March this year.
	Commission woes: DGCA, travel agents meet on Monday Prabhjot Singh Tribune News Service Chandigarh, September 4 The ongoing feud between travel agents and international airlines may head for a resolution soon as the Director-General of Civil Aviation (DGCA), acting on the directions of the Kerala High Court, has decided to bring them together on a negotiating table next week. Representatives of the three travel trade associations, including the IATA Agents Association of India, and 16 major international airlines will meet on September 7 to find an amicable solution to the dispute arising out of the airlines resorting to zero commission to agents. More than a year ago, 16 international airlines, including Lufthansa, KLM, Singapore Airlines, Air Canada, North West, Air France and British Airways, had decided to cut down the commission to travel agents from three per cent to zero per cent. Earlier, it used to be eight per cent that was gradually reduced over the years to five and then three per cent. A section of travel agents even stopped selling tickets of some international airlines, including Singapore airlines, as a mark of protest. The airlines took to non-IATA agents for their business besides encouraging air travellers to buy their tickets online from airline websites. In Punjab, Haryana and Chandigarh, hundreds of travel agents have been affected by the zero commission regime enforced by the 16 international air carriers. The agents had challenged the decision of the airlines both in Kerala and Karnataka High Court on the plea that the international air carriers were misinterpreting an IATA resolution maintaining that payment of zero per cent commission was well within the meaning of paying some commission. After the Kerala and Karnataka High Court sought clarifications from the Director-General of Civil Aviation over regulating commission to travel agents, the DGCA decided to call representatives of both the airlines and the travel agents. At present there are three major organisations of travel agents in the country. They are Travel Agents Federation of India (TAFI), Travel Agents Association of India (TAAI) and the IATA Agents Association of India. The IATA Agents Association of India insisted that representatives of all three travel agents association should be called for the September 7 meeting. The meeting, will discuss the quantum of commission that international airlines must offer to agents in line with the provision of the IATA resolution 810(i) that necessitates provision of commission to agents. The travel agents want that a reasonable rate should be fixed, as the minimum commission international airlines must pay to their agents on the base fare of the tickets sold by them.
	Hiring activity to ‘pick up’ by year-end Tribune News Service Chandigarh, September 4 The third quarter of this fiscal will see recovery in the economy, leading to more jobs in the market. The hiring activity in key areas like manufacturing and infrastructure sectors is expected to pick up by the year-end. This was stated by Sanjeev Bikhchandani, managing director of Info Edge (which runs Naukri.com) while talking to mediapersons on the sidelines of the IT conclave, eRevolution, being held here. He said as per our job index, the overall hiring activity has increased by 8-10 per cent in the past three months, although it is not on the higher side. "This shows that the economy is back on road to recovery, which will automatically boost recruitment" he said.
	Suvidha offers unique money transfer scheme Tribune News Service Chandigarh, September 4 Leading micro-payment service provider, Suvidha Starnet, is all set to offer a unique money transfer and payment system to people in Punjab, Haryana and Chandigarh. This scheme would enable the non-banked population send gift payments, recharge mobile phones/DTH, pay utility bills, and buy air tickets via SMS, voice calls and Internet. To avail the system, one has to buy prepaid cards in denominations ranging from Rs 100 to Rs1,000 across key neighbourhood retailers in 12 states. Anand Srivastav, chairman and managing director Suvidha, said till date they had managed to have 3.5 lakh subscribers doing transactions worth Rs 200-Rs 250 per month under the scheme. He said they were also trying to use their prepaid cards to make payments under the National Rural Employment Guarantee Scheme.
	Gold glitters at Rs 15,900 New Delhi, September 4 Gold prices today shot up to an all-time high of nearly Rs 16,000 per 10 gram in the national capital, driven by last minute heavy purchases by traders to build up stocks before the start of the inauspicious 'Sharad' tomorrow, amid strong global cues. The precious metal spurted by Rs 200 from yesterday's level at scale a new peak of Rs 15,900 per 10 gram.The rally was also seen in the prices of silver coins which too skyrocketed to a record level of Rs 31, 200 per 100, pushed up by a steep rise of Rs 700 up in silver rates at Rs 25,300 per kg. The surge in the gold rates was led by heavy demand from jewellers and stockists before Sharad, a inauspicious fortnight for making any fresh purchases, marketmen said. The rally was also sparked by gold's surge in the overseas markets to a six-month high, towards $1,000 an ounce, they added.— PTI