THE ECHO OF INDIA SILIGURI
6 Economy & Business
Thursday October 16, 2014
Full mobile number
portability by March 31
NEW DELHI, OCT 15 /--/ Mobile
phone users will soon be able to
change their telecom operators and
retain their numbers even if they
are relocating to areas outside the
service providers' operations. At
present, mobile subscribers have
restricted facility of changing their
telcos while retaining their number
within same service area using mobile number portability (MNP). For
example, a subscriber in Delhi NCR
can switch operator within Delhi
NCR only. The Depar tment of
Telecom has set a target date of
March 31, 2015 to implement the
full mobile number portability
(MNP), an official source said. "The
Telecom Commission has accepted
TRAI's recommendations on full
MNP," the source said. The panel
The Tata Steel plant is seen in England . India's Tata Steel Ltd is in talks to sell loss-making
European operations including mills in northern England and Scotland to Geneva-based
Klesch Group, as it battles weak prices and tentative economic recovery.
News
In Brief
US Senator lauds
WTO ruling
NEW YORK, OCT 15 /--/
A senior US senator has welcomed the World Trade Organisation's ruling against
India's "unfounded" ban on
American poultry products, saying the decision is
an important step in ensuring a "level playing field"
for the country's agriculture. US Senator Ben
Cardin from Maryland, a
senior member of the Senate Foreign Relations Committee and the Environment
and Public Works Committee, said ensuring that
American poultry producers have complete access to
the global food market is
"incredibly important" to
sustaining the important industry.
NCDRC dismisses
insurance claim
NEW DELHI, OCT 15 /--/
The apex consumer commission has denied insurance claim to a private firm
for loss of its goods in a fire,
noting that it filed the complaint two years after the insurance company rejected
its claim. National Consumer Disputes Redressal
Commission (NCDRC), presided by Justice K S
Chaudhary, dismissed the
plea of Mumbai-based Solar
Chemforts Pvt Ltd for insurance claim and also rejected
its appeal filed against
Maharashtra State Consumer Commission.
Suspected hawala
money seized
KANPUR, OCT 15 /--/ Unaccounted cash amounting
to Rs 50 lakh was seized by
the police from two persons
outside Kanpur Central
Railway station here, police
said. Bahadur Singh and
Dilip Singh Baghela, hailing from Gujarat, were on
their way to Delhi from
Kanpur with a bag full of
cash worth Rs 50 lakh, GRP
Inspector, Tripurari Pandey
said. The duo was spotted
by a patrolling team of Railway police and was brought
to GRP station for interrogation, he said.
IT City to come up
in Lucknow
LUCKNOW OCT 15 /--/
Uttar Pradesh Chief Minister Akhilesh Yadav on
Wednesday laid foundation
stones of three mega
projects here, including an
IT city and a super-speciality hospital, seeking to boost
employment and medical
infrastructure in the state
capital. Akhilsh hoped that
the upcoming IT City, a IIIT
and the Medanta-Avadh super-speciality hospital,
would be completed before
the next elections.
IGATE Q3 Net up 17%
BANGALORE, OCT 15 /-/ US-based outsourcing solutions fir m IGATE on
Wednesday r eported a 17
per cent growth in net profit
at USD 37.3 million for the
third quarter ended September 30, 2014, aided by
growing traction in segments like financial services, healthcare and industry utility solutions. (PTI)
Bengal gets its 1st hybrid
solar micro cold storage
KOLKATA, OCT 15 /--/ Nadia has become
the first district in West Bengal to have hybrid solar micro cold storage facility where
farmers can store and preserve their agrihorticultural produce. For the want of a
storage solution, most small farmers had to
sell their produce at very low prices right
after the harvest as cold storages can be afforded only by big farmers and middlemen. It is estimated that more than 30 per
cent of the agri-horticulture produce are
wasted in the absence of facilities to store
and preserve them. The hybrid solar micro
cold storage is a project being implemented
by a city-based company "Switch ON" with
support from GIZ IGEN-RE, under an IndoGerman initiative. The facility will go a
long way in solving problems faced by
small and marginal farmers in preserving
their produce and can store the perishable
produce for seven to 10 days with a maximum capacity of nine tonnes using low
cost technology. It is 30 per cent less expen-
sive than traditional systems. "This project
is first-of-its-kind, that will help build a sustainable and resilient farming community.
Upon the success of this pilot project, we
will scale up this solution across West Bengal, Odisha and Jharkhand - areas where we
are currently operating," Suman Paul, the
project coordinator, said. The far mers will
be charged Re one per kg per week while the
cost of the solar cold storage is Rs six lakh.
The cold storages will be operated by 'ON
Farm', a farmer-producer company run and
managed by local farmers. 'Switch ON' is
supporting 'ON Farm' to manage their own
supply chain operations eliminating middlemen and thereby increasing their profits. Talking about the build of the solar cold
storages, Ekta Jaju of Switch ON said,
"These are encapsulated by a structure built
with natural material, inspired from
Dochala, a two-sided sloped roof prevalent
in Bengal in the 1860's, a perfect mix of new
technology and natural practices." (PTI)
IndiGo to get 250
Airbus A-320 for $ 25.5b
NEW DELHI, OCT 15 /--/ India's no-frill
airline IndiGo on Wednesday placed orders for 250 latest Airbus A-320 neo
planes worth USD 25.5 billion or Rs
1.55 lakh crore, making it the European manufacturer's biggest ever contract in terms of aircraft numbers.
A Memorandum of Understanding
to this effect was signed at the Airbus
headquarters in Toulouse, France, by
IndiGo's co-founders Rakesh Gangwal
and Rahul Bhatia, who is also the Managing Director of the airline's parent
firm InterGlobe Enterprises. The agreement becomes Airbus' single largest order in terms of the number of aircraft,
IndiGo and Airbus said in a statement.
While Airbus did not provide the value
of the IndiGo order, its website shows
the list price per A-320 neo aircraft as
USD 102.8 million. IndiGo's move came
on the back of its previous orders of
100 A-320s in 2005 and another 180 A320 neos in 2011 worth about USD 11
billion, which was the largest-ever at
that time. The deliveries of the A-320
neos, ordered in 2011, would start from
next year. IndiGo is one of the launch
customers for the neo planes which Airbus claims are fuel-savers. "This new order reaffirms IndiGo's commitment to
the long-term development of affordable
air tr ansporta tion in India and overseas," IndiGo President Aditya Ghosh
said. "The additional aircraft will enable
us to continue to bring our low fares and
courteous, hassle-free service to more
customers and markets and will create
more job opportunities and growth. The
IndiGo team is energised and excited to
herald this new phase of our growth,"
Ghosh said.
Airbus Executive Vice President
(Strategy and Future Programmes)
Kiran Rao told PTI from Singapore that
with the thrust on opening up secondary aviation market by the new Indian
government, "we are very confident that
such large orders will continue to be
placed by Indian carriers." (PTI)
Tata Steel plans
to sell UK division
to Klesch Group
LONDON, OCT 15 /--/ Indian steel giant Tata Steel on
Wednesday said it is planning to sell its Long Products division in Europe to Swiss-based Klesch Group and focus
mainly on strip products activities. The company, which
employs 6,500 people across Europe, said it had signed an
ag reement with Geneva-headquartered Klesch Group,
which it hoped would lead to a sale. The Long Products division includes operations in Scunthorpe and Teesside in
England and Dalzell and Clydebridge in Scotland. It also
includes sites in Workington and York, as well as other operations in France and Germany. "We will now move into
detailed due diligence and negotiations, though no assurance can be given about the outcome," Karl Koehler, chief
executive of Tata Steel's European operations, said in a
statement. "We have therefore decided to concentrate our
resources mainly on our strip products activities, where
we have greater cross-European production and technological synergies. "We want to build a sustainable business in
the UK and further develop our mainland Europe business
and we are committed to providing the necessary leadership and financial resources to achieve that," he added.
Tata has signed a memorandum of understanding with the
industrial and commodities group, formalising its intention
to agree to a sale. The Klesch group, run by US billionaire
investor Gary Klesch, is also investing in an oil refinery in
Milford Haven in Wales. Tata Steel employs 30,500 people
across Europe, including 17,500 in the UK. The Long Products division provides steel rail, rod, plate and other steel
products to the construction and excavation industries. UK
business secretary Vince Cable said he will look to meet
Klesch to discuss the firm's plan's for Tata Steel's Long Products division. "The proposed sale shows the harsh reality
of trading conditions in parts of the steel industry. I met the
global head of Tata in India this week and he has personally re-affirmed to me his company's commitment to the
British steel industry and to investing substantially in Port
Talbot and strip steel," Cable said. (PTI)
85% of space on
tobacco packs
to be covered
with warning
NEW DELHI, OCT 15 /--/
From April next year, 85 per
cent of space on cigarette
packs and other tobacco
products in India will have
to be mandatorily covered
with graphic and text warnings about adverse health
effects, becoming the country with the highest element of warning on packages. A notification in this
regard was issued by the Union Health Ministry today.
Of the 85 per cent space, 60
per cent will be devoted to
pictoral warnings while 25
per cent will be covered by
textual warnings. At
present, the space covered
by the warning is 40 per
cent. "We have issued a notification today which will
make it mandatory for tobacco companies now to devote 85 per cent space on
the cigarette packs or any
other tobacco products for
pictoral and textual warnings against the perils of tobacco," Health Minister
Harsh Vardhan announced
at an event here organised
to celebrate the Global
Handwashing Day. "Tobacco means only death. I
have seen this closely, effects of tobacco as an ENT
surgeon," said Vardhan,
who has been a practising
doctor. With this, India will
join Thailand where also 85
per cent of space on cigarette packs and other tobacco products is covered
with warnings. With the new
measure, India will now
rank first in the list of 198
countries that warn smokers about the hazards of
smoking through graphic
pictures on cigarette packages. In Australia, it is 82.5
per cent and in Uruguay, it
80 per cent. Earlier, India
had slipped to 136th position, according to a new report 'The Cigarette Package
Health Warnings: International Status Report 2014'
released yesterday. (PTI)
Coalscam: Court
directs CBI to further
probe the matter
NEW DELHI,OCT 15 /--/ A special court on Wednesday
ordered further investigation in a coal blocks allocation scam case, involving Vikash Metals and Power
Ltd and its officials, in which the CBI had filed a closure report. The court also directed the CBI to file a
further progress report of the probe and fixed the case
for November 10. "Vide separate order the matter has
been referred to CBI for further investigation under
the provisions of the CrPC. Copy of the order passed
be sent to Director, CBI and to all the DIGs, CBI who
are supervising the investigation of all coal blocks allocation cases. "Put up for submission of progress report on further investigation on November 10," Special CBI Judge Bharat Parashar said. The court also
told investigating officer (IO) Rajbir Singh that the
further report should be thorough and the agency
should also give proper reasons in support of the conclusion drawn in the report. "I hope you will now
probe on the line of the court's earlier order and if you
differ in your conclusion, then give detailed reasons
for it," the judge said. During the last hearing on September 30, the court had pulled up the CBI officers for
the way they handled the probe in a coal blocks allocation scam case, saying the agency's officers "lacked
basic skills of investigation". It had ordered its Director Ranjit Sinha and all concerned DIGs to personally
look into the matter failing which they would be held
"responsible". The court had also observed that the
agency officers were withholding documents from it
for the reasons best known to them and even the
statement of witnesses, recorded during the probe
into the case, was not placed before it. The judge had
also said that CBI officers were not following the basics of the CrPC and even their crime manual during
investigation of the case. (PTI)
decision will now be placed before
Telecom Minister Ravi Shankar
Prasad for the final approval.
Under the full MNP, for instance, a
subscriber in Delhi NCR will be able
to switch to a telecom network in
Tamil Nadu or in any of the state or
place where he is relocating himself/
herself while retaining the same
number. As per the latest data released
by the Telecom Regulatory Authority
of India (TRAI), about 13 crore people
have requested for MNP facility as on
August 31. TRAI in its recommendation on full MNP had suggested to give
telecom operators six-month time to
make necessary changes in their network from the date the proposal is
cleared. The source said that DoT will
make efforts to get it expeditiously
done in about five-month time. (PTI)
RBI Guv praises Andhra
initiative for farmers
HYDERABAD, OCT 15 /-- / RBI Gover nor Raghuram
Rajan has "appreciated" the initiatives of Andhra Pradesh
government, including the setting up of Farmers Empowerment Corporation to roll out a debt relief scheme for peasants over the next five years, state Finance Minister
Yanamala R amakrishnudu said on Wednesday. The Reserve Bank Governor had an hour-long meeting with
Ramakrishnudu, Parliamentarian Y S Chowdary, State Planning Board Vice- Chairman Kutumba Rao, Chief Secretary
I Y R Krishna Rao and top officials of the finance and planning departments here on Wednesday. "We have explained
all issues clearly to the RBI Governor and his team. We have
explained the financial and social problems being faced
by the state post-bifurcation. He appreciated our initiatives
and assured the RBI would co-operate with the state government," the Finance Minister told reporters after the
meeting. He quoted Rajan to say that he was "so impressed
with the programmes that the AP government has taken up"
Regarding the contentious debt relief scheme for farmers
on which the state government is having differences with
the apex bank, the Finance Minister said the RBI Governor
was "not negative" when the FEC initiative and issue of
certificates to farmers was explained. "In fact, Rajan said
FEC is a best solution," Chowdary, who is heading the Financial Management Committee, pointed out. Under the
debt relief scheme, the state government would pay
upfront an amount of Rs 5,000 crore to banks and repay the
balance farmers' loans in the next four years at a rate of 20
per cent per annum. Responding to the state government's
request, Rajan said the RBI was ready to open its regional
headquarters at Vijayawada, the state's new capital, if the
government allotted required land. Rajan also agreed to
hold a meeting of the RBI's central Board at Vijayawada on
the request of the finance minister. (PTI)
HC declines to stay
Tiruchi-Karaikudi NH project
CHENNAI, OCT 15 /--/ The Madras High Court on
Wednesday declined to stay a single judge's order that
quashed a stop work order issued by the State PWD Department on the Rs.374 crore Tiruchi-Karaikudi National Highways project. A division bench comprising justices Satish
K. Agnihotri and K K Sasidharan, before which the state
government's appeal came up, ordered issue of notice to the
National Highways Authority of India (NHAI) on the plea.
Earlier, the single judge, who heard the petition filed by
NHAI against the government order restraining the Authority from continuing with the work on the project, had
stayed it. The government had filed the appeal following
this. The project, which would link six national highway
stretches in the region, involves construction of a two-lane
path with paved shoulders on the Tiruchi-Karaikudi section
of NH-210. The 84km stretch includes 25km of the Tiruchi
bypass on NH-67. Launched in 2010, the project was to be
completed by May 14, 2013. (PTI)
Siemens gets
nod to set up
6 more centres
of excellence
in Gujarat
VADODARA, OCT 15 /--/
The Gujarat government
has given its nod to German
company Siemens to set up
six more centres of excellence in the state's engineering colleges with an investment of Rs 714.90 crore.
Siemens has already invested about Rs 500 crore
for setting up five such centres of excellence in the
state for which MoUs had
been signed two years back,
state Finance Minister
Saurabh Patel told PTI on
Wednesday. With the availability of more funds, the
Germany-based company
approached the Gujarat
gover nment in August for
approval of its request to
set up of six more such centres in the engineering colleges of the state within the
company's current fiscal
year ending on September
30, which has been granted,
he said. These centres of excellence will be set up at
colleges in Morbi, Rajkot,
Bhavnagar, Patan, Jamnagar
and Mehsana, he said.
These six centres will be in
addition to the state government's already approved
five centres of excellence
under PPP mode with the
co-operation of Siemens Industry Software (India) Pvt
Ltd, Patel said. "The main
focus of these centres is to
train students of different
engineering institutes inline with the latest industry
needs and emerging trends.
These centres will be instrumental in providing
skilled manpower to the industries and employment
opportunities to the youth,"
he added. (PTI)