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)
© Copyright 2024