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Workers
to make up 25 per cent of companies' boards
New Delhi: Workers' representation on the board of
companies is likely to become mandatory soon. Labour minister
Sahib Singh Verma is ready with the amended Participation
of Workers in Management Bill and is expected to introduce
it during this session of Parliament.
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Cup
hits Star Plus ad rates
Mumbai: The World Cup fever has taken the punch out
of Star Plus ad rates. The numero uno channel has cut
ad rates for its programmes substantially, even for blockbuster
serials like Kyunki Saas Bhi Kabhi Thi and Kahaani Ghar
Ghar Ki, because of the advertiser craze surrounding World
Cup. Media buyers said that Star Plus has cut its spot
rates across serials, by as much as 45-50 per cent.
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GSK
Q4 net zooms 84 per cent to Rs 23 cr
Mumbai: GlaxoSmith-Kline has posted a huge 83.7 per
cent increase in its net profit to Rs 22.56 crore for
the fourth quarter ended December 31, 2002 as compared
to Rs 12.28 crore for the corresponding quarter last year.
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Howard
Johnson to launch 3 new properties in India
Kolkata: Howard Johnson Hotels and Inns is planning
to add three more properties in Chennai, Goa and Delhi.
Presently, it has two properties in its fold in Ooty and
Masinaguddi that belong to actor Mithun Chakraborty.
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JD
Power finds Indian car sector maturing fast
Mumbai: Indian car industry is fast catching up with
global standards when it comes to quality and customer
satisfaction. According to JD Power, the rate of improvement
registered in India is by far the sharpest and reflects
the fact that the auto industry in India is maturing over
the years.
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Telco
targets Chinese market
New Delhi: After the successfull foray into European
markets through Rover, it is time now for the automobile
major Tata Engineering (formerly Telco) to look at China.
The company bets big on the Chinese market for its passenger
cars.
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Volkswagen
keen on car plant in TN
Chennai: The Volkswagen team visited Chennai on February
18 and 19 and went around Hyundai's manufacturing facility
and auto components manufacturing units and held discussions
with the manufacturers. It also visited several industrial
parks in and around Chennai to assess the feasibility
of setting up a facility.
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Kinetic
to hit market with mini-bike — Plan to introduce
sports model postponed
Mumbai: The country's fifth largest two-wheeler maker,
Kinetic Engineering, plans to launch a slew of motorcycles
including a 100 cc mini-bike this year and a new initiative
called Kinetic biking concept for the motor cycle buffs.
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Ford
launches Ikon variant
Mumbai: Ford India launched a limited edition `Finesse'
variant of its new Ford Ikon NXT in the Capital on Wednesday.
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JVSL
board accepts debt restructuring deal
New Delhi: Jindal Vijayanagar Steel Ltd's board of
directors has accepted the debt restructuring package
approved by the Corporate Debt Restructuring Cell (CDR).
The company has scheduled an extraordinary general meeting
of its shareholders on April 22 to seek approval for conversion
of 40 per cent of the existing equity capital into 0.01
per cent cumulative redeemable preference shares (CRPS)
without carrying any voting rights, redeemable in 5 equal
instalments starting from December 15, 2017 and issue
of equity shares of Rs 10 each and 10 per cent cumulative
redeemable preference shares at par to certain lenders
in lieu of part of debt.
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Telecom
meet again today
New Delhi: The warring cellular operators and
WLL service providers are meeting once again here today
under the aegis of the Telecom Committee constituted by
the Communications Minister, Arun Shourie, to sort out
the contentious issues.
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KPMG
to expand business in India
New Delhi: KPMG is in the process of reorganising
and expanding its advisory and consulting activities in
India by establishing business advisory services (BAS).
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Biocon
gets nod for tech-equity swap
Bangalore: The Bangalore-based Biocon India has become
the first company in the country to receive permission
from the Government to issue equity shares to its foreign
partner in a proposed joint venture on the basis of valuation
of the technology provided by the collaborator.
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Birlas
eye value-added insulators via jt venture
Mumbai: The A V Birla group is seeking to penetrate
the value-added insulators market through its newly-formed
joint venture with the Japanese major, NGK.
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FCI
OEN Connectors to sharpen focus on auto sector supplies
Mumbai: FCI Oen Connectors Ltd, the prime supplier
of professional grade connectors in the country, proposes
to increase its exposure in the automotive business.
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