Brand royalty payment formula mooted
New Delhi: The Government has announced the formula that would be adopted for calculation of royalty for use of trademark and brand names.

An official release said that, "royalty on brand name/trademark shall be paid as a percentage of net sales viz gross sales less agents'/dealers' commission, transport cost, including ocean freight, insurance duties, taxes and other charges and cost of raw materials, parts, components imported from the foreign licensor or its subsidiary/affiliated company".

In case of technology transfer, payment of royalty subsumes the payment of royalty for use of trademark and brand name of the foreign collaborator.
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Coal prices to be hiked annually
Dhanbad: The government would henceforth hike prices of coal only once a year instead of the current practice of changing it frequently, according to union coal minister Ram Vilas Paswan.
The annual hike would be introduced even if it led to losses as frequent changes in price had a severe impact on coal consuming industries, he said.
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More cess on petrol, diesel likely
New Delhi: The Government is considering levying additional cess on petrol and diesel to mop up about Rs 2,000 crore annually for developing road infrastructure.

Currently, a cess of Re one per litre is being levied on petrol and diesel for developing of road infrastructure.

Any decision on levying additional cess would form part of finance minister Yashwant Sinha's union budget for 2002-03.
Government is presently garnering about Rs 5900 crore annually from the Re one cess on petrol and diesel, of which the present year allocation for NHDP was Rs 2100 crore.
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Blair to inaugurate CII Summit
Bangalore: British prime minister Tony Blair will inaugurate the 8th CII Partnership Summit in Bangalore. The summit, scheduled from January 5-11, is probably the largest international business gathering after the September 11 attacks on the US.

With more than 1,000 trade delegates from different parts of the globe participating in the summit, the focus is expected to veer around Indias relation with the US, the EU, Middle East and South Asia.

A number of joint ventures between Indian and British companies are likely to be finalized as investment by Indian companies in the UK would be a special focus area. Some of the sectors identified for investment by Indian companies in Britain include environment, infrastructure, transport, mining, healthcare, higher education and defence.
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All India Bank Strike on 4 Jan
Kolkata: Banking operations in the country are likely to be hit on 4 January during a day's nationwide strike called by the All India Bank Employees' Association (AIBEA).

The strike is against the alleged inhuman and barbaric treatment of employees by the Standard Chartered Bank management.
However, some banks like SBI, which have a separate union might conduct normal business in areas where other banks do not have branches.
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India reports positive exports growth
New Delhi: India recorded about 5 per cent export growth during the first 11 months of calander 2001 when most of the developed and neighbouring countries witnessed a decline.
India turned the corner posting a positive growth of 3.29 per cent in November after a gap of about four months, giving commerce ministry hopes of achieving a revised 3 per cent growth target during this fiscal.

While Hong Kong posted a 5.3 per cent dip in exports during January-November, South Korea witnessed a 10.7 per cent decline during the first three quarters of 2001 and Singapore suffered a 21 per cent plunge in November only.

The export growth of China declined from 27.8 per cent in 2000 to 14.6 per cent in the first quarter of 2001 and 4.6 per cent in the second quarter.

Performance of developed block was no better with Japan likely to end the year with 10 per cent dip, US with a negative 5.2 per cent growth and Canada with a reversal of 3.4 per cent, according to projections of exports made by OECD.
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Govt for 100% FDI in housing
New Delhi: The union cabinet is likely to take up shortly the issue of allowing 100 per cent foreign direct investment (FDI) in integrated townships spread over at least 50 acres with a minimum lock in period of three years.

The urban development ministry had sent its final recommendations to the finance and industry ministries, and the issue is likely to be taken up by the cabinet within 10-15 days.
The ministry is understood to have recommended the automatic route for 100 per cent FDI in integrated townships with a minimum area of 50 acres.
At present, 100 per cent FDI is permitted through the Foreign Investment Promotion Board (FIPB) route, in development of integrated townships of over 100 acre area.
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