India's first floating casino ready for take off
Panjim: Goa-based Renaissance Goa Resort and Casinos and their joint partners - Austria International (CAI) are shortly launching India's first-ever full-fledged casino, off Goa’s coast. The joint-venture project is expected to take-off in January.

According to promoters of the project, the floating-casino has been designed to meet "international gaming standards. Casinos Austria, the joint venture partner has experience of operating casinos in over 24 countries and aboard 80 luxury cruise liners. The casino project is the first such operation in India to be allowed by the state government and will have full-fledged casino operations.

Casinos Austria International (CAI) has a 49 per cent stake in the project, which is expected to break-even in a year.
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NSICT hikes port handling charges by 16%
Mumbai: The Nhava Sheva International Container Terminal (NSICT) - operated by the P&O-led consortium - has increased terminal handling charges by 16 per cent, the first major hike to be announced since the terminal has been thrown open to freight traffic.

The Tariff Authority for Major Ports (TAMP) has allowed the hike in charges by 16 per cent, against 30 per cent demanded by NSICT. The Jawaharlal Nehru Port (JNP) is also expected to hike its rates in a month's time. TAMP is yet to decide on JNP proposal to hike its charges. The two container terminals jointly account for about 50 per cent of India's container throughout.

The decision to hike handling charges has been taken in order to cover the increase in the cost of handling containers, and thus obtain adequate return on capital employed (ROCE)
Ports are allowed 18 per cent ROCE, as per TAMP guidelines. JNPT's proposal to hike rates is in respect of normal and reefer containers, hazardous and over-dimensional containers and does not include transhipment containers.
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RBI outlines policy for universal banking
New Delhi: The Reserve Bank of India (RBI) has cautioned banks and other financial institutions against any dilution in their compliance of stipulated prudential and supervisory norms. In its report to the parliamentary standing committee on finance, the central bank has called for strengthening of the regulatory framework and has spelt out the broad contours of its proposed policy for universal banking.

The central bank has also suggested that the Narasimhan Committee report’s recommendations on universal banking be operationalised. However, it has warned against the dilution of supervisory norms on account of the special characteristics of the banks. The RBI has suggested that a consolidated approach towards supervision and regulation should be put in place, especially in the case of conglomerates, in which a bank is partner.

In its submission, the RBI has also said that the domestic financial institutions (DFIs) would continue to play a crucial role in the financial system till such time that the debt market improves both in terms of liquidity and depth. The central bank has said that any DFI wanting to transform itself into a bank should therefore have the option of conversion, subject to the prudential norms specified by the bank.
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MUL claims 64 per cent of auto market share in Nov
New Delhi: Maruti Udyog Ltd (MUL) has claimed that it had 64 per cent of the car market share in November this year despite the ongoing labour problems.

The company has said that it achieved an all-time high sales in the fiscal 1999-2000 by selling over 4,06,290 vehicles. MUL also achieved distinct improvement in the quality of its cars and customer service, Maruti 800 registering a 28.75 per cent improvement in quality and the Omni improving by 3 per cent as per the JD Power IQS.

After the booming growth of 1999-2000, the domestic car market has turned sluggish, but Maruti remained the clear leader with a 64 per cent market share in November, 2000, the company has said in its annual report. The report also points out that while the company has continued to hold 100 per cent share in the "A" segment, its new products - Wagon-R MAV and Alto LX/VX have helped consolidate its position in the Zen segment.
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Dabur to launch Binaca white toothpowder
New Delhi: Dabur India Ltd. (DIL) is planning to launch Binaca brand of white tooth-powder within the next six months. The company has recently acquired the Binaca brand from Reckitt & Coleman for Rs 1.25 crore.

A toothpaste under the Binaca brand will follow the launch of white tooth-powder. According to Mr. G.C.Burman, managing director and chairman of Dabur, with the launch of white tooth powder under its fold, the company will be able to garner larger market share in the segment.

The tooth-powder market is currently believed to be growing at the rate of 5-6 per cent per annum and Dabur plans to grow in this segment by taking away market share from other existing brands. At present, Dabur’s turnover from red tooth-powder is placed at Rs 125 crore.
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