Airlines
Austrian Airlines plans more flights
AUSTRIAN Airlines which is to start its sixth weekly flight on the Delhi-Vienna sector from next Thursday, has conducted a market study to decide which Indian city should be the second destination for the airline.
Jet Airways to hike surcharge
JET Airways is to go in for a three-tier increase in its insurance surcharge which is likely to come into effect from around November 1.
Smart cards to replace I-cards at airports
IN an effort to further tighten security at airports, the Government is in the process of acquiring smart cards to replace the existing identification cards worn by staff at airports.
EU-India aviation project ratified
The largest economic cooperation project between India and the EU, the Rs 130-crore EU-India civil aviation cooperation project is now all set to take off after ratification of the implementation phase by the second steering committee meeting of the proj
ect held recently in Brussels.
Banking and Finance
Tackling post-VRS `manpower problem' -- Bankers want change in promotion norms
PUBLIC sector banks are planning to seek relaxation in the Government guidelines on promotion policy in banks. This follows the post-VRS ``manpower problem'' being faced by several nationalised banks.
GTB net dips to Rs 4.91 cr
THE Global Trust Bank recorded total income of Rs 235.73 crore and a net profit of Rs 4.91 crore for the quarter ended September 30, 2001 as against a total income of Rs 228.19 crore and a net profit of Rs 31.44 crore for the corresponding quarter last y
ear.
Budget
New team soon to draft Budget
LIKE history repeating itself, it is going to be a new-look Finance Ministry at North Block this November too, for the second year in succession, that will engage itself in the Budget-making exercise for the next fiscal.
Corporate
Westside to wear Wendell pret line
FORMER Lakme boss and Chairperson of Trent Ltd, the elegant Ms. Simone Tata, has effected a minor coup in the fashion retailing world having just signed on avante garde fashion designer, Mr Wendell Rodericks, to supply a pret line to her retail chain, We
stside.
Economy
Doha meet must be successful, says Schroeder
THE visiting German Chancellor, Mr Gerhard Schroeder, today said that though India's concerns on WTO implementation issues are legitimate, ``this should not stop us from having the next round, and a constructive attitude is the need of the hour.''
Germany grants Rs 670-cr loan
INDIA will receive German assistance aggregating to Rs 670 crore for four developmental projects. The two countries, which signed agreements today the ocassion of the visit of Chancellor Gerhard Schroeder, also discussed measures to enhance trade and inv
estment flows.
Financial Performance
Guj Ambuja net up 112 pc
GUJARAT Ambuja Cements Ltd has announced a 112 per cent increase in net profit for the quarter ended September 30, 2001. Net profit was at Rs. 53.23 crore as against Rs. 25.06 crore during the corresponding quarter of the previous year.
CMC net zooms to Rs 11.41 cr in second quarter
CMC LTD today announced a 253 per cent surge in its net profit for the quarter ended September, 2001 at Rs 11.41 crore over Rs 3.23 crore in the corresponding quarter last year.
Madras Cements net down 93 pc
MADRAS Cements Ltd has registered a 93 per cent drop in net profit for the quarter ending September 30, 2001. Sales increased 18 per cent over the corresponding period last year.
Foreign Trade
`New trade round, not aid vital for ending poverty'
CUTTING barriers to trade in agriculture, manufacturing and services by one-third would boost the world's economy by $613 billion. This was stated by Mr Richard McCormick, President, ICC, while inaugurating the 71st annual general meeting of ICC India, h
ere on Monday.
`Ride it and see'
Mr N.R. Narayana Murthy, Infosys CEO (left), with Mr Rahul Bajaj, Bajaj Auto Chairman, at a meet on Indo-German economic relations in the Capital on Monday.
Information Technology
Hughes Soft, Tele to call EGM
BOTH Hughes Software Systems Ltd and Hughes Tele.com today decided to convene an extraordinary general meeting to seek shareholder approval for a possible change in control following the merger of Hughes Electronics Corporation with EchoStar Communicatio
ns Corporation in the US.
Duncan Info to offer biz intelligence
DUNCAN Infotech, a software solutions firm, has announced its plan to offer business intelligence, data warehousing and decision processing solutions to the Indian marketplace around the Brio Performance Suite.
Green pastures seen for e-commerce
INDIAN e-commerce is projected to touch Rs 25,200 crore by 2005 from the current level of Rs 250 crore, achieved last year in business-to-business transactions (B2B) and Rs 50 crore in business-to-consumer (B2C).
Pharmaceuticals
Cola-type war moves into aspirin
IN a manner reminiscent of the Cola-wars, pharma company USV Ltd, manufacturer of the Ecosprin brand of aspirin, has taken ``a subtle jab'' at Reckitt Benckiser's Disprin -- even as the latter delays the launch of Disprin CV, its aspirin version of Dispr
in that was slated to hit the market in early October.
Radio/TV
IBF to admit radio companies
THE Indian Broadcasting Foundation (IBF), the apex industry body for broadcasting companies, will now allow radio companies to become members.
States
Major power plants in Kerala shut down for want of fuel
UNDECLARED power cuts continue in various parts of Kerala as the gap between demand and supply has widened following the shutting down of some of the thermal and diesel plants in the State.
Joshi lauds working of HPC units in Assam
THE maiden visit of the Union Minister for Heavy Industries and Public Enterprises, Mr Manohar Joshi, to the North-East region last week was indeed a historic day for the Nagaon Paper Mill (NPM), Jagiroad, a unit of the Hidustan Paper Corporation Ltd (HP
C) as this was the first time that a Union Minister visited the premises of the Mill.
`Indo-Pak war will be at the cost of Kashmiris'
KASHMIR'S major problem is lack of ``mature political leadership. Leave alone Pakistan, even the GoI has stopped taking our Chief Minsiter, Mr Farooq Abdullah seriously,'' says Prof. Mohammed Basheer Dabla, head of the department of Sociology at the Univ
ersity of Kashmir in Srinagar.
Technology
Biotech cos in the pink of health: E&Y
DESPITE a downturn in the capital markets in the first half of 2001, a review of biotechnology companies reflects that they are poised to achieve long-term success with less stock volatility as the companies are in strong financial shape.
Telecommunications
IIFT summit on telecom
INTERNATIONAL investments in the telecom sector is only possible if ``rude shocks'' like wireless in local loop (WLL) do not take place midway, according to Mr Virat Bhatia, Managing Director AT&T.
