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Travel
agents fear 25 per cent fall in business if war breaks
New Delhi: With clear signs of yet another imminent
Gulf War, travel agents in India are expecting an immediate
25 per cent decline in travel fortunes of the industry.
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Shipping
rates climb despite war fears, but outlook remains hazy
New Delhi: The war fears may be dampening for the
trade and industry in general, but shipping has been an
exception with the upward movement in freight rates. The
tanker and dry bulk segments have seen a spurt in the
average daily earnings since the last weeks of January
this year.
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GCMMF
expects 15 percent rise in sales as procurement climbs
Mumbai: Even as fast-moving consumer goods majors
like Hindustan Lever Ltd have reported a decline in turnover
due to a general slowdown, the Rs 2,360 crore Gujarat
Cooperative Milk Marketing Federation Ltd - the makers
of Amul - is expected to close the current fiscal with
an over 15 per cent growth in turnover.
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P&G
acquires Wella in $7-billion deal
Mumbai: Procter & Gamble said on Tuesday it would
take control of German haircare firm Wella in a 6.5 billion
euro deal, giving the US consumer goods giant a boost
against arch-rival L’Oreal
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BHEL
unit develops new storage system
Hyderabad: A new Automated Storage and Retrieval System
(ASRS) developed by the Corporate Research and Development
(R&D), of the Bharat Heavy Electricals Ltd (BHEL),
here offers long-term solutions to these challenges. The
ASRS is best suited in warehouses stocking large quantity
and variety of materials. It has been put to test at the
BHEL's manufacturing divisions at Hyderabad, Tiruchirapalli,
Bhopal, Jhansi and Hardwar, according to the R&D scientists.
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Granules'
US subsidiary starts operations
Hyderabad:
Granules India Ltd (GIL), the Hyderabad-based
pharmaceutical company specialising in compressible granules,
has announced that its wholly owned subsidiary in the
US - Granules USA Inc - has commenced operations.
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Restructuring
plan questioned — Sterlite shareholders move SEBI,
DCA
New Delhi: A group of minority shareholders of Sterlite
Industries (India) Ltd has moved the Securities and Exchange
Board of India (SEBI) and Department of Company Affairs
(DCA) against the company's recent restructuring plan.
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Hyundai
Motor gets ISO 14001 for eco practices
Chennai: Hyundai Motor India Ltd has been awarded
the ISO 14001 certification for its sustainable environment
management practices. It is also working on a strategy
that will support its vendors in implementing environment
management system, according a company press release.
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Karnataka
Govt rules out Mysore Lamp revival
Mysore: The Karnataka Government has categorically
ruled out reviving Mysore Lamp Works Ltd, a State public
sector enterprise.
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FACT
seeks bridge loan to restart operations
Kochi: Fertiliser and Chemical Travancore Ltd (FACT)
has sought a bridge loan of Rs 200 crore from the Union
Government or a credit line from Kochi Refineries Ltd
to recommence operations after its annual shutdown for
maintenance.
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TI
to buy more from China next year
New Delhi: Tube Investments of India Ltd proposes
to source more cycle components from China next year,
the company's Chairman, M.A. Alagappan, said.
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FDI
cap at 26 per cent for news channels
New Delhi: The Government has decided to cap foreign
equity at 26 per cent for news channels uplinking from
India, while allowing entertainment channels to have 100
per cent foreign investment.
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Proportionate
voting rights for investors in foreign banks
New Delhi: The Union Cabinet has also decided that
investors in foreign banks operating in India would get
voting rights proportionate to the FDI in such banks.
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