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Some Foreign Sadhus visiting Kumbamela

INDIA POST- IDBI PRINCIPAL JOINT BUSINESS PARTNERSHIP LAUNCHED

DoP TO ENTER INTO AN AGREEMENT WITH WESTERN UNION FINANCIAL SERVICES INTERNATIONAL FOR PROVIDING MONEY TRANSFER THROUGH POSTAL NETWORK

PILOT PROJECT TO PROVIDE E-MAIL FACILITIES THROUGH
POST OFFICES

New Delhi: India Post and Industrial Development Bank of India (IDBI) Principal Asset Management Company have entered into a Joint Business Partnership which will make available all current and future investment opportunities from IDBI to the Indian investors through the extensive reach of Post Offices across India. The Department of Posts (DoP) is shortly going to enter into an agreement with Western Union Financial Services International for providing international money transfer service using the postal network. A pilot project to provide E-mail facilities at the grass roots is being launched in six states at 200 locations. These announcements were made by the Minister of Communications, Shri Ram Vilas Paswan while formally launching the Business Partnership Initiative between India Post and IDBI here today.

Speaking on the occasion Shri Paswan said that the Post Offices will now provide new services to the Indian investors besides just delivering mail. He said that the rollout will cover 80 Post Offices in the four cities of Delhi, Mumbai, Calcutta and Patna in phase one and will be extended to the rest of the country within a year. The expected revenue for the first year will be about Rs.100 crore. Shri Paswan said that the agreement with the Western Union International will enable instant transfer of money from over 184 countries to India on a real time basis. Stating that it will earn revenue for the department in excess of Rs.100 crore in foreign exchange within three years of operation he said that the service will be useful particularly to NRIs, international tourists and students.

The Minister said that the pilot project to provide E-mail facilities will cover the states of Gujarat, Maharashtra, Kerala, Andhra Pradesh, Bihar and West Bengal which have been chosen keeping in view the large number of emigrants from India to other countries. He said that the E-mail messages received from all over the world including those from within the country would be converted into a hard copy and delivered through traditional channels of the remote villages in the selected states. Stating that the facility would be known as "e-Post" he said that through this the Post Office will also be in a position to offer E-mail ID to individual citizen.

Referring to the business partnership between India Post and IDBI Shri Paswan said that it is for the first time that such a collaboration has been forged between the DoP and a private sector organisation which is indicative of the acknowledgement by IDBI-PRINCIPAL of the vast and unparalleled reach of India Post to mobilize investments from potential investors who normally would not have access to such a facility. This tie-up is a significant initiative to improve the range of products for the investors of the middle class and smaller towns who have increasingly been demanding more choices for investment options.

India Post already has the distinction of operating the country’s largest retail bank, "The Post Office Savings Bank (POSB)". With a network spanning over 154,000 branches, a customer base of 110 million account holders and deposits in excess of Rs.1,82,000 crore, the POSB is positioning itself as a reliable, trustworthy and friendly financial service provider to the masses using state-of-the-art information technology. The project with IDBI-PRINCIPAL is a precursor to POSB’s formal entry into
the business of distributing financial-service products across the country.

IDBI-PRINCIPAL endeavours to encourage savings by inculcating the investment habit amongst people both from urban and rural areas. IDBI-PRINCIPAL Asset Management Company Limited is a joint venture between IDBI, India’s leading financial institution and Principal Financial Group, one of the world’s foremost asset management organisations. IDBI currently serves more than 3 million customers through 38 branches across the country. Principal Financial Group, with an asset base of US$117 billion extends its financial expertise to more than 11 million customers worldwide.

eCommerce in the Indian LPG Business

Bombay: CRISIL Advisory Services (CAS) believes that technology driven by Internet could become an important component of future business strategy for the LPG business in India, in a deregulated competitive scenario.

As per a recent CAS research paper, the entry of new players and proposed deregulation of the LPG sector is expected to transform the LPG industry from a monopoly supplier driven business to a competitive customer driven business. With households accounting for over 85-90% of the consumption, CAS believes that the LPG business could emerge as a typical consumer goods business driven by brand image, customer servicing and distribution effectiveness. This transformation shall drive players to focus on retaining and expanding their client base while simultaneously managing costs. Technology, powered by the Internet enables organisations to effectively address these challenges in an immediate and sustaining manner.

As per the CAS research report, LPG industry can adopt technology both on the cost side as well as on the revenue side. On the cost side, players could set-up, sponsor or participate in an electronic marketplace for the procurement of consumables and cylinders. The e-marketplace could be further linked to a well-developed supply chain management (SCM) system to deliver further benefits in the form of lower inventory holding costs.

On the marketing side, the CAS report indicates that LPG marketers could provide cost effective customer service through the use of online refill bookings and status checking systems. Customers could access these systems either via a telephone or via the Internet depending on individual access availability and preferences. Online systems could be extended to provide for applying for new connections, transfer of connections, etc. The use of technology in this area would establish a new paradigm of brand building and customer service while ensuring cost effectiveness. CAS believes that possibilities of implementing 'proactive' refilling of cylinders could further enhance servicing levels and enable effective logistics, inventory and cash flow management. Tie-ups with other utility providers, cross selling of products within and outside the company could further enhance linkages with the LPG company.

The implementation of each of the options above would imply managing large volume of data and information. Technology shall play a key role in the management of these transactions with Internet possibly being the backbone for connectivity. Additionally, the emerging Internet audience is prima-facie open to new ideas and systems and could form the first point of reference for the LPG company to market and develop its new brand image.

FOREIGN INVESTMENT PROPOSALS FOR SAUDI TOTAL $1.3BN IN 2000
EDUCATION SECTOR OPENS TO FOREIGN INVESTMENT

Dubai: Prince Abdullah bin Faisal bin Turki Al Saud, governor of the recently
created Saudi Arabian General Investment Authority, has revealed that
total applications for foreign investment in the Kingdom were worth
$1.3bn last year.

The Governor made the disclosure during an exclusive interview with the
Middle East’s leading financial website ? AMEInfo.com/FN. Talking to the
site’s Editor-in-Chief, Peter Cooper, Prince Abdullah also revealed that
Saudi Arabia’s education sector is, for the first time, now open to
foreign investment proposals.

"In Saudi Arabia we have a highly ambitious young population with high
purchasing power which is good for the service sector," he said.
"Education is very much in demand. Riyadh University had 2,500
applicants for 150 places in its medical school this year, so the demand
is clearly there.

"Since the new foreign investment law was applied we have seen a 44 per
cent rise in applications for foreign investment, and a total of five
billion riyals ($1.3 billion) for 2000," said Prince Abdullah. "It is
not as high as some of the press reports suggest. The main reason for
the increase is the improvement in the law for foreign investment, and
that people see a new direction, and an improvement in the environment.

"The oil sector is not open yet. But gas is an independent programme and
progressing faster than before," he said .

"We do not comment on investment levels. The companies do not like us to
discuss their proposals".

News of the first memorandums of understanding on three major gas
projects is expected before April 1, and further projects will be rolled
out thereafter as Sagia completes the very complex task of evaluating
investment proposals and awarding licenses.

"At Sagia our first function is to issue licenses as per the foreign
investment law, and to offer a one-stop shop," said Prince Abdullah.

"Our second function is on the policy side. We have to suggest the
changes to laws and procedures and regulations to improve the quality
and quantity of investment. We treat all investors the same, whether
they are foreign or local. But we recognise that foreign investors bring
in both money and expertise, and can plug into developments around the
world.

"Saudi Arabia has a unique role in the region and certain
responsibilities", he added . "Saudi Arabia has had a unique
entry into the modern world. We can not duplicate certain things, or
force them onto the Saudi public. There will have to be a balance
between development expectations and the sensitivities of people".

January 23, 2001

RATIONALISATION OF APPOINTMENT OF MANAGERIAL PERSONNEL AND THEIR REMUNERATION IN INDIAN COMPANIES

The Indian Government (Department of Company Affairs) (DCA) has issued orders rationalising appointment of managerial personnel and payment of managerial remuneration in case of companies having no profit or inadequate profit. This follows cases coming up before the DCA wherein public companies or private companies which are subsidiaries of public companies are submitting applications for approval of the Central Government for appointment of managerial personnel and payment of remuneration to them in excess of the limits prescribed in Sections 269, 310, 311 and 387 and in terms of Section 198 (4) read with Schedule XIII of the Companies Act, 1956, which provides scales of remuneration to such personnel.

The revised scales of monthly remuneration for managerial personnel with effect from March 2, 2000 has been Rs. 75,000 per month for company with an effective capital of Rs. 1 crore, Rs. 1 lakh for companies with effective capital of more than one crore and less than Rs. 5 crores., Rs. 1.25 lakhs for companies with an effective capital of Rs. 5 crores or more but less than Rs. 25 crores, Rs. 1.50 lakhs for companies with an effective capital of Rs. 25 crores or more but less than Rs. 100 crores and Rs. 2 lakh for companies with an effective capital of Rs. 100 crores or more.

Where a particular company intends to pay a remuneration higher than that prescribed in the Companies Act read with the necessary Schedule, an application may be made to the DCA giving in detail the justification alongwith a copy of the resolution passed by the Board (Annual General Meeting) as the case may be.

To reduce subjectivity and to bring in an element of greater transparency and objectivity, the company which submits an application for a remuneration which is higher than the prescribed limit must take into consideration all relevant factors and give a detailed justification. The application for increase in the remuneration should not be submitted in a mechanical way.

The DCA has also pointed out deficiencies generally observed in applications. The order also invites attention to explanation to Section 198 of the Companies Act, 1956 which states that "Remuneration" includes any expenditure incurred by the company giving benefit to its directors/ managers. The applicant companies should therefore, hereafter also ensure that the prescribed forms are completely and properly filled in regard to all the details so that the applications submitted are complete and proper at the time of submission itself. This will result in quicker and faster disposal. In this regard a checklist has been provided to facilitate proper filing of the applications. It is hoped that with filing of a complete application disposal would be quicker.

Manchester United TV joins FirstNet

Dubai, January 2001: Arab Digital Distribution (ADD), the region's largest satellite television Pay-TV platform management company has signed an agreement with Manchester United Television for exclusive rights to the channels programming across the Middle East. MUTV, as it is known, will be available to ADD customers who subscribe to either The ART's expanded bouquet or to their FirstNet bouquet or premium international entertainment.

Dr. John Tydeman, CEO of Arab Digital Distribution, said of the agreement: "MUTV will add value to our line-up of existing sports channels for fans across the region. Football is the sport at the heart of this region, and it is one of our goals to provide the latest and most entertaining range of choice to viewers of local and international football."

By subscribing to FirstNet, viewers can watch the daily output of the channel, up to six hours of Manchester United related news daily. MUTV provides soccer fans with the very latest daily news from its studio at the heart of the Theatre Of Dreams. Besides the adrenalin pumping soccer action on the field, MUTV also delivers a great mix of exclusive interviews with the manager and players, classic Premiership encounters, phone-ins and live Reserve team action. There's a match on MUTV every night of the week.

Mr. Peter Brooks, Managing Director of Manchester United Television (MUTV), said: "FirstNet is the ideal premium international bouquet for MUTV in the Middle East. Manchester United is regarded as the most exclusive football club on the planet and has a fan following around the world, this region being no exception, and we are sure that fans will appreciate being able to catch up on the latest at Manchester United from the comfort of their own homes."

For die-hard fans that want to reminisce about past glories, MUTV offers the opportunity to recount matches from up to thirty years ago, in SuperMatch. Viewers can watch matches between the likes of West Ham, Wimbledon, Leeds and Liverpool from the seventies, eighties and nineties.

On hearing of the agreement, Manchester United captain, Roy Keane, said: "The players greatly appreciate the support for the team in the Middle East, MUTV is a great way for the fans to follow what's going on at Old Trafford"MUTV also highlights live interviews with Sir Alex Ferguson, Roy Keane, David Beckham, Ryan Giggs and the rest of the team, as well as video-biographies on players of the past. MUTV will broadcast daily between 17:00 and 23:00 in the UAE and Oman and 20:00 and 02:00 for KSA, Bahrain, Kuwait and Yemen.

"With our live coverage of the English Premier League on our newly launched ART Sport 2 channel, with both English and Arabic commentary, as well as the FA Cup, UEFA Cup, the Brazilian League and a host of other European Leagues, we now host the widest range of football coverage in the region," added Dr. Tydeman. "Viewers can enjoy more than 5 hours a day of football, both live and recorded."In addition to managing FirstNet and the expanded ART bouquet, Arab Digital Distribution also manages Pehla, the region's first Asian premium Asian entertainment bouquet, which offers viewers 15 entertaining channels, 24 hours a day.

AL JIMI TO GET FOTON WORLD 'RAIN FOREST'

Dubai: Foton World, the leading Middle East name in entertainment and edutainment, is to theme its planned new Dhs 35 million complex in Al Ain's Al Jimi shopping centre, around a rain forest."With a floor area of almost 4,900 square metres and a ceiling height of five metres, the rain forest concept can be excellently adapted into the building," said Essam Sheta, Regional General Manager, Foton Edutainment."We chose the rainforest concept to raise awareness of environmental issues among the public and also because with Al Ain being the agricultural capital of the UAE, we wanted a concept which closely linked with the earth."

The entrance reception to Al Jimi's ''rainforest,' which is due to open by the end of March, is designed as a tropical rock formation with thunder and lightning effects flashing across the ceiling to make a dramatic initial impact on visitors.Inside 3D animatronics and 3D models of insects creep and crawl around the centre, which is decorated with rainforest themes."As everyone knows, rainforests are home to many of the strangest looking, beautiful, large and small animals on earth - some are dangerous, frightening and loud. All will be reflected in Al Jimi Foton World," added Sheta.Anticipating up to five million visitors a year to its Al Jimi centre, Foton is providing a mix of edutainment activities for Al Ain, including a Wonderhall interactive science exhibition, where families can join in educational and fun workshops, and a portable planetarium.

"This edutainment area will enable visitors to learn while having fun through various interactive, educational and recreational play stations and activities, including Austria's award-winning photo-play technological entertainment machines," said Sheta.Foton World currently operates facilities in Sharjah's Al Taawun Mall and at Lulu Centre shopping mall in Qusais, Dubai. Additional facilities are also being planned for Abu Dhabi and the Northern Emirates.

January 22, 2001
Profits of Indian tyre companies not expected to improve during 2000-2003

Profitability of Indian tyre producers is not expected to increase during the 2000 to 2003 period, due to firm raw material prices and increasing competition in the car tyre category. According to a report on the tyre industry prepared by CRIS INFAC, prices of natural rubber are expected to increase significantly in the period due to an expected decline in surplus rubber stocks. Increasing competition in the car tyre category, due to new car radial tyre capacities, would also result in a pressure on average price realisation.

The report forecasts demand for tyres by category till 2004-05. It also compares tyre companies in terms of cost structure, operational efficiency and market position.Between 2000-01 and 2004-05, tyre industry is expected grow at 6-7 per cent. Demand for truck tyres is projected to grow at 5.7 per cent due to an expected increase in replacement demand. Demand for car tyres is projected to grow at 12.7 per cent based on the expected increase in car production. By 2003, the total industry capacity is expected to increase to approximately 60 million tyres.

Due to high capital cost and low expected radial penetration in truck tyres (about 5 per cent by 2005), not more than 2-3 tyre producers are expected to set up truck radial tyres capacity. However, in car radials, large capacity additions are expected by tyre producers during next 3-5 years due to high demand growth. Car radials are projected to grow at 24 per cent to 10 million tyres in 2004-05.

CRIS INFAC studied the likelihood of divestment or acquisition for each tyre producer, by analysing the state of competition and past trends in acquisition activity in the tyre industry, and company-specific factors including financial capability, cost structure, operational efficiency and investment strategy. According to the study, mergers and acquisitions activity in the tyre industry during the 2000-01 to 2004-05 period is not expected to be significant. Except for car tyre category, the intensity of competition is not expected to be high enough to result in divestment by the existing producers. The importance of cash flows from tyre business to the group companies is expected to be an exit barrier. Further, new multinational entrants are uncertain about investing in the Indian tyre industry, given the high level of planned capacity additions by existing companies in car radial tyres and low radial penetration in the truck tyre category.

Syria's First Lady, Arab Business News, Speedy E-Mail Only at Albawaba New Services At the Internet Gateway to the Arab World

London, UK - 22 January 2001 : Albawaba (http://www.albawaba.com), the
largest internet portal in the Arab World, announced today the launch of
new content production and technology services.

Albawaba's new content production includes a series of investigative
Special Reports based on exclusive information about subjects seldom
reported on in the Arab World. The current Special Report features an
in-depth story about Asma Akhras, the new wife of President Bashar al-Assad
of Syria. ("Is Syria Awakening to a Hillary-Style First Lady?")
(http://www.albawaba.com/news)

A new commercially-oriented service at Albawaba is a French-language
Business Section with news summaries and original feature-length reports.
Egyptian advertising executive Loula Zaklama, currently is profiled as
part of a series on leading Arab business women.

Albawaba's new state-of-the-art e-mail service is now available in Arabic
and English. The e-mail messaging service is the fastest of its kind in the
Arabic language and offers users extensive storage space and other
customized features.

"We are increasing our proprietary content production and expanding our
technology services in order to maintain our leadership role in creating
business opportunities in the Arab World through the Internet," said Hani
Jabsheh, a company director and founder.

Al-Bawaba offers a wide range of Middle-East oriented channels and
services. Al-Bawaba provides independent coverage of news events in all
Middle Eastern and North African countries from a regional perspective and
produces original contents for news, business, travel, entertainment,
sports, children's, health and other programs. In addition to Arabic, many
of the channels are also provided in English and French.
Al-Bawaba's homepage can be found at www.albawaba.com

Properties of Arabia is now Online

(Dubai, UAE) With the launch of a unique, new website, PropertiesofArabia.com, looking for a residential and/or commercial property to rent could not have become easier. Properties of Arabia.com has made it possible to take a look at apartments, villas, and commercial properties without ever having to leave the comfort of one's home or office, the company said in a statement.

The Gulf's first property website provides the visitor with free and easy access to a wide variety of information on properties available for rent throughout the United Arab Emirates. This information is updated on a daily basis. The website also provides visitors with 360 degree virtual tours, pictures, graphics, location maps, and floor plans for all assessed properties, be it an apartment, a villa or office space.

Besides properties, the website also offers useful information on related services and products, such as furnished apartments, movers and packers, interior decorators, maid services, furniture and home appliance dealers, curtain and carpet suppliers, home entertainment providers etc. It also boasts the services of an online Feng Shui consultant.

PropertiesofArabia.com is a collaboration between Emirates Property Guide and Arabianbiz.com. Emirates Property Guide, which proved an instant hit from its very first issue in October 1999, has combined its extensive industry knowledge and experience with Arabianbiz.com, an online information portal, to provide a broad-based, easy-to-use website that is not only current and informative but also an essential tool catering to one of the most fundamental features of expatriate life in the Gulf.

Currently, only properties in the Emirates are available online but plans are underway to provide similar information on properties throughout the other GCC countries. The website has already signed a franchise agreement with a reputed Saudi company to represent it in the Kingdom; similar agreements are in the pipeline in other GCC states.

Apart from the GCC, PropertiesofArabia.com also has plans to provide its visitors with facilities that will enable them to search for information on real estate investment, retirement and/or holiday homes in the USA, Australia, the UK, Spain, Portugal, France, Turkey, Greece, the Philippines, Pakistan and India. It is currently in the process of signing agreements with related firms in the UK, Spain and Portugal in this regard.

PropertiesofArabia.com forms part of the first truly comprehensive industry information package on real estate in the region. Along with Emirates Property Guide, its publication version with a monthly circulation run of 15,000 copies distributed free of cost through selective outlets such as Spinneys, MMI, EPPCO, Ace Hardware etc, the website will also soon be available on WAP (Wireless Application Protocol); an agreement to that effect has already been concluded with atcell.com.

"This will make us the only organization in the Gulf, if not the entire Middle East, to offer property information and advice in three mediums, that is, on the Internet, hard copy and on WAP," says Ahmad Yusuf of PropertiesofArabia.com.

The website has tied up with Spatial Data Integrators, a member of MAPS Group, to provide a Geo Reference Locator service for each of its properties; each property is given a unique GRL number and when a visitor is interested in seeing exactly where the property is located, all that is required is to press the location map button and a map is displayed, showing the precise location of the property.

For ease of use, PropertiesofArabia.com provides the visitor with four search options: visitors can search for a property either by indicating the type of property desired and the area required; or search by providing additional information on the rent-range desired, along with the information on the type of property and the area; or customize one's search by asking for specifics such as the exact numbers of rooms required, whether a swimming pool and/or a garden is desired, whether the property is old or recently constructed etc; or the last search option, which is to view the property listings in their entirety, irrespective of area, price features, rental range etc.

The website has already elicited a tremendous response from property developers, real estate agents and landlords through out the Emirates. It offers extremely competitive and attractive advertising packages for companies and agents in the property business. The website provides a couple of options of advertising packages for prospective clients:

The first is a FREE listing which includes a picture of the property, the rent, the number of bedrooms and bathrooms, features of the property and the client's telephone and fax numbers.

The second package is an assessed listing which includes four photographs, floor plans, detailed features, written direction, email contacts and the client's own website links. For an additional charge, the website can also include up to four 360 degree virtual tours of the property.

In addition to the extensive information provided on properties and other complementary services and products, PropertiesofArabia.com also offers information on education institutions such as schools, colleges, universities, nurseries and day-care centers; it also provides health-related information such as listings of hospitals and clinics as well as data and contact details on spas and beauty salons… finding a property has never been easier.WebSite : http://www.propertiesofarabia.com
Jerusalem, January 22, 2001

Special Report: Keralamontir correspondent

UK AND SPANISH MINISTERS TACKLE IT SKILLS SHORTAGES


London: Employment ministers from the UK and Spain came together this week to discuss how to deal with the issue of skills shortages across Europe. Education and Employment Secretary David Blunkett and Employment Minister Tessa Jowell joined their Spanish counterpart Juan Carlos Aparicio at the UK/Spanish employment seminar in Birmingham. Mr Blunkett said: "The UK and Spain have contributed significantly to the total growth in employment in Europe accounting for almost 40 per cent of the increase. We are at the forefront of those who argued for modern social policies, which will carry forward the Lisbon Summit agenda of lifelong learning and social inclusion against further attempts to over-regulate the labour market at European level. "We are all familiar with the phenomenon of skill shortages co-existing with persistent high unemployment. A skilled and productive workforce will increase employment, reduce inflationary pressures and create the conditions for sustained economic and employment growth. That was the message of the Lisbon summit and I hope this seminar will identify those policies and programmes that will make it a reality.
Tessa Jowell said: "In the UK our Employment Service reports one million vacancies and yet we also have one million unemployed people and a further 7.6 million people of working age who are inactive in the labour market.

"There is a mismatch between the skills and attributes that employers say they need and those that unemployed people have to offer. And the skills mismatch is not just restricted to those out of work; many employers also reporting skill gaps amongst existing employees. "A particular challenge for the future will be in IT skills shortages. We already know that over 18 million UK workers now require basic IT competence to do their job. There are 1.2 million currently employed at technician level, expected to grow by 20-25 per cent in the next three years."Some commentators have estimated that if we do not do anything to address this skills gap, 12 per cent of vacancies for professional IT jobs could go unfilled in 2002. Furthermore we know that one of the principal consequences of skills shortages is increased cost to employers." Mr Blunkett and Ms Jowell outlined areas of action to tackle skills shortages in the UK:The New Deal, which gives people the skills they need to move off benefits and into workImproving basic skills with a target to help 750,000 people by 2004 The highly successful Skills Task Force in England advised on main skill gaps and shortages The new Learning and Skills Council is working with National Training Organisations and r egional development agencies. There are similar developments in other parts of the UK. Employment Zones and Education Action Zones aimed at providing the qualifications and skills needed in the knowledge economyThe Spanish delegation accompanied by Tessa Jowell visited Birmingham Employment Zone to see how the programme is helping the long-term unemployed in inner city areas back into work. The Birmingham zone, set up in April 2000, is the largest in the country and is managed by Pertemps Employment Alliance. So far it has helped over 700 long-term unemployed people into sustained jobs.Spanish students from the Hotel School Marbella presented the ministers with an example of their skills, a celebratory cake to mark the occasion. Following a previous employment seminar between UK and Spain a link was developed between the Hotel School in Marbella and Westminster Kingsway College in London, which involves an exchange of students

BNP Announces new 3rd generation Internet agency, Gotham
Gotham to support and advise companies on their total multimedia strategy.

Paris, 23 January 2001.... BNP Paribas is continuing its expansion in new
technologies with the announcement of the creation of Gotham, its 3rd generation
Internet agency.

Gotham is specialized in the design and production of dynamic sites, and it
identifies its mission as meeting the total needs of companies that are
channelling their communication strategy towards new technologies. Using its
considerable skills in the fields of technical development and graphic design,
Gotham offers a comprehensive solution that brings together technical expertise,
graphic design and core advice in communication and marketing.

Offering much more than pure site design, Gotham acts as a real "partner" to
companies in their multimedia projects. Its expertise in Internet activities and
the broad skills base of its staff enable it to deal with all types of Internet
problems, whether they concern e-business, B2B, B2C, C2C, Intranet or Extranet.

The methodology developed and applied by Gotham is based on two skills centres:
dynamic content publishing and graphic arts. Its strategy is integrated in a
quality approach and enables it to handle multimedia projects from the analysis
stage, through design and layout to the operational and support stages.

Its multi-skilled technical team (database administrators and designers,
application server specialists, experts in development and programming
languages, etc.) is responsible for the technical development of applications.
The team is dedicated to multi-environment development and dynamic content
publishing, focusing on technical and functional analysis, practical application
of the technical options, and their integration with the internal information
system.

This can take the shape of developing interconnections between a company's
databases and its Internet site, for example, or setting up secure access and
payment systems, projects to put commercial information online, creating
made-to-measure interactive tools, or integrating services such as mailboxes,
discussion forums, etc.

Gotham?s design studio is made up of artistic directors, graphic designers and
computer graphics designers who are specialists in 3D and Flash, and it supports
and advises companies on their total online and offline communication strategy
-the concept of a site's graphic structure and "navigability", its design,
ergonomics, brand positioning, sound and animation, etc. The design studio
ensures the site's overall graphic coherence.

But Gotham is more than just a site designer and image creator -it is involved
in all the strategic aspects of the life of the site, from the customer brief to
the site?s visibility through its referencing, and even the analysis of traffic
and the behaviour of site visitors.


"On leaving a company's Internet site after a look round it, websurfers should
have a positive impression of professionalism, even if they are not necessarily
able to analyse the reasons for it: a short search time for the search engines
to find the site, graphic quality, the general ergonomics of the site, and of
course response time... these are all elements that reflect on the quality of
the site and hence the professionalism of its brand," says Thierry Luyer,
Gotham's Chairman and CEO.

The Gotham Company, run by Thierry Luyer and Patrice Jarry, its General Manager,
currently has a staff of over 15, and it intends to take on more very soon.

Gotham is a subsidiary of Arius, a specialized rental company and an IT
equipment management company within the Specialized Corporate Financial Services
division of BNP Paribas.

The aim is to expand and develop Gotham's offer for external customers, as well
as meeting the needs of BNP Paribas and its subsidiaries in the new
technologies. One example of this is the close partnership that has already been
set up between Gotham and Business Village, with Gotham acting as the special
technical operator for Business Village in community portal development.

 

Kellogg's: The Grinch Who Stole Breakfast

After finding his heart and returning all the gifts he swiped the Grinch returned genetically engineered StarLink corn to Kellogg's the nation's largest cereal maker and a major buyer of gene-altered crops. He implored Kellogg's, who is featuring the Grinch on special editions of their cereal boxes, to do right by the children who trust it. Accompanied by FrankenTony, Greenpeace's genetically-mutated version of Kellogg's Tony the Tiger, the Grinch delivered a wheelbarrow full of genetically engineered StarLink to the cereal giant's Battle Creek Michigan headquarters. "Kellogg's is the grinch who stole breakfast!," the Grinch told Kellogg's staff at the headquarters. "Americans should not have to worry about gene-contaminated corn when they buy Kellogg's cereal for their kids." FrankenTony presented Kellogg's with a shopping cart full of 20,000 petitions from Americans who want Kellogg's to stop using gene-altered crops in its cereals. Kellogg's stopped production at one of its U.S. cereal plants earlier this year over concerns of contamination from StarLink, an engineered corn variety not approved for human consumption. Kellogg's has refused to respond to a Greenpeace letter asking the company how it can be sure that it's products do not contain StarLink. Government scientists say the corn may trigger allergies in some people, with children being particularly at risk.

"What business does Kellogg's have hiding this genetic experiment in our children's food?," asked Beverley Thorpe, Greenpeace Genetic Engineering (GE) campaigner. "We are telling Kellogg's to take it out or take it back. Kellogg's has stopped using GE-food in Europe, yet it refuses to offer Americans the same protections." A recent Oxygen/Markle Pulse poll of Americans showed that over two-thirds of the women polled said they would not feed genetically engineered food to their children. Americans have been calling and writing to Kellogg's about its use of gene altered food for over a year. The company has even been forced to hire an outside firm to deal with the e-mails it receives from Americans who want GE-free cereal. In just one month, Kellogg's received over 35,000 phone calls and letters from Americans expressing concerns about gene-altered food.
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US FDA GENETIC FOOD POLICY DENIES AMERICANS THE RIGHT TO KNOW WHAT THEY ARE EATING

FDA fails to require testing and labeling of gene-altered food despite medical and scientific warnings

WASHINGTON, January , 2001 - The rights of American consumers to know what they are eating and feeding their families was denied them by the Food and Drug Administration. The new FDA policy proposal, posted on the web today, does not require labeling or any pre- market safety testing of genetically engineered foods. Instead, FDA has sided with the biotech industry, which vehemently fights mandatory labeling of gene-altered food.

"This is a terrible day for American consumers—the government has
failed to protect their health and their interests," said Kimberly Wilson,
a Greenpeace Genetic Engineering Campaigner in San Francisco.
"While the rest of the world is moving to label genetic foods, U.S.
consumers are still denied free choice in the grocery store. Americans
deserve to know what's in their food, yet FDA is working with industry
to keep genetic engineering a secret ingredient." Last week, a report by
the Consumer Federation of America echoed Greenpeace's calls for
mandatory labeling of all genetically engineered food.

Labeling of genetically engineered foods is required throughout Europe,
and in Japan, Russia, Australia, New Zealand and other countries.

Food makers do not have to inform consumers if their products contain
genetically engineered ingredients under the new FDA policy. FDA will
allow gene-altered foods on the market without long- term safety tests
for effects in the diet or the environment.

A new Greenpeace report, Genetically Engineered Food: Still
Unlabeled and Untested, has found that only three health studies on
genetically engineered foods have been published in peer-reviewed
journals. None of these met scientists' recommendations that gene
altered foods be tested for 90 days, nor did they meet the FDA's own
testing requirements for food additives that would require, in some
cases, up to two years multiple feeding studies. The biotech company
studies that FDA relies on to assess new altered crops are generally
not submitted for peer review and not available for public scrutiny.

Doctors and scientists warn that genetically engineered foods could
trigger allergies, have increased levels of toxins, or could hasten the
spread of antibiotic resistance. The medical journal the Lancet has
stated: "It is astounding that FDA has not changed their stance on
genetically modified food…. Governments should never have allowed
these products into the food chain without insisting on rigorous testing
for effects on health."

Last fall, Greenpeace released the True Food Shopping List, a detailed
report of thousands of foods made with genetically engineered
ingredients. "FDA has refused to require labels, so Greenpeace took
action," added Wilson. "We labeled genetically engineered food to give
consumers a fighting chance when they go to the store."

INDIAN GOVERNMENT PROPOSES TO WITHDRAW 1.8 MILLION WORKING CHILDREN FROM HAZARDOUS OCCUPATIONS

New Delhi: The government proposes to withdraw eighteen lakh children from the hazardous occupations they are currently engaged
in. Two lakh such children have already been withdrawn from such occupations so far and have been rehabilitated through various National Child Labour Projects (NCLPs). This was disclosed by the Labour Minister Dr. Satyanarayan Jatiya while inaugurating a National Conference on "Child Labour-Response and Challenges" here today. Seeking the support of all concerned in this task Dr. Jatiya said attempts should be made to expand the field of training to all law enforcement officers, labour inspectors, and factory inspectors for effective enforcement of child labour laws. The government is preparing an action plan for removing all children engaged in hazardous occupation and process by 2005. The Technical Advisory Committee constituted under the child labour Act is being involved in this assignment.

The government also proposes to increase to 57 from 51 prohibited process in which child labour is employed. Dr. Jatiya said that the government is prepared to provide more funds to strengthen all child labour projects where they can be employed so that the income earned by them can supplement the family income and improve economic conditions of the poor families. The number of feasible Child Labour Projects is also being increased to 100 from 96 soon he said. The districts from where new projects would be started soon be identified. To further strengthen child labour projects the Minister said that approximately 250 crores rupees have been allocated for the purpose.

Addressing the Conference the Minister for Human Resource Development Dr. Murli Manohar Joshi called for time bound programmes to eradicate child labour. He said the government is trying to ensure that children are not exploited through labour or otherwise and in this connection, the government is planning to set up a National Child Commission which would review this and prepare programmes for all round development of the child. Earlier Dr. Joshi inaugurated an exhibition on " Efforts towards Elimination of Child Labour" which was organised to coincide with the National Conference on child labour .

 

GOVERNMENT ASKED TO PREPARE A TIME BOUND PROGRAMME FOR THE ERADICATION OF CHILD LABOUR

The Minister for Human Resource Development Dr. Murli Manohar Joshi has called for a coordinated strategy by the government to eradicate child labour. The time has now come when all concerned must sit together to chalk out measures to solve the issue, which is directly linked to illiteracy. Hence, the problem needs to be addressed in a twin manner. Dr. Joshi made
these observations here today while addressing a National Conference on "Child Labour – Response and Challenges", inaugurated earlier by the Labour Minister Dr. Satyanarayan Jatiya.

Expressing unhappiness at not eradicating child labour even 50 years after independence Dr. Joshi stressed the need to set a time-target for achieving the objective. He said that it is the duty of all, the government, the country and the society at large to see that no children below 14 years are employed.

Emphasising the vital role of education in the eradication of child labour Dr. Joshi spoke of the "Sarva Shiksha Abhiyan", which aims at bringing about universalisation of elementary education by 2010. He said that by 2003, all children in the country between 6 to 14 years would be enrolled in schools. Dr. Joshi revealed that the Abhiyan will remain current even during the 10th Five Year Plan and that the government has agreed to this. The minister also spoke of setting up of the National Commission for Children, the National Charter for Children and also about a proposal to levy a cess on expenditure to raise additional resources for the Sarva Shiksha Abhiyan.

Earlier, Dr. Jatiya said, the government proposes to withdraw eighteen lakh more children from the hazardous occupations they are currently engaged in. Two lakh such children have already been withdrawn and have been rehabilitated in various National Child Labour Projects. The government is preparing an action plan for this and hopes to achieve this by 2005. The centre also proposes to increase to 57 from 51 prohibited processes in which child labour is employed. The number of feasible Child Labour Projects is also being increased to 100 from 96 soon he said. Before the conference began, Dr. Joshi inaugurated an exhibition on "Efforts towards Elimination of Child Labour" which was organised to coincide with the National Conference.

SHRI NAIDU EXPRESSED SERIOUS CONCERN OVER UNABATED FLUORIDE CONTAMINATION OF DRINKING WATER

Shri M. Venkaiah Naidu, Minister of Rural Development today stated that the Government is actively considering setting up of a "Fluorosis Mitigation Center" at the national level that would serve as a Referral, Documentation and Validation Center for monitoring all aspects of fluorosis an irreversible debilitating disease of bones and teeth as a result of consuming Fluoride contaminated water in several rural areas of the country.

Inaugurating an International workshop "Fluorosis in Drinking Water: Strategies, Management and Mitigation" at Bhopal, Shri Naidu further said that Rural Development Ministry is considering monetary support to recognized institutions which under take practical research and scientific projects aimed at containing Fluorosis contamination of water and identify cost effective, simple, user friendly water treatment technology on a sustainable basis. He pointed out that around Rs.44,000 crore was required to cover the entire rural population of the country with safe and pure drinking water. Out of this, Rs.10,000 crore is exclusively needed for improving the quality of water.

Listing out the major achievements in rural water supply, Shri Naidu said that there is impressive coverage of about 84% fully covered and 14% partially covered habitations with safe drinking water through 3.5 million hand pumps and more than 1.16 lakh mini piped water supply schemes. He appealed to the Health and Family Welfare Ministry and the Indian Medical Council, ICMR to take steps to adequately cover Fluorosis in the curriculum of Medical Sciences and in the Post Graduate studies as well. The workshop being organized by the State Government of Madhya Pradesh with the assistance of the World Health Organisation (WHO) and UNICEF, is being attended by nearly 300 delegates and subject experts, including 50 from abroad.

CENTRE SIGNS MOU WITH GUJARAT ON POWER REFORMS

Government of India have signed a MOU with the Government of Gujarat on Power Sector reforms. The MOU was signed by Shri S.S. Sharma, Special Secretary, Ministry of Power and Shri Vijay Ranchan, Principal Secretary, Ministry of Power, Gujarat. The MOU envisages milestones in the path of reforms for the Government of Gujarat to be achieved in a time bound manner.
These include energy audit at all levels, metering of all consumers and reduction of T&D losses in a time bound manner.Government of Gujarat will create independent Distribution Profit Centres in Kheda and Rajkot and achieve commercial viability in Distribution.

The Government of Gujarat will introduce the Reform Bill in the State Assembly, rationalise and reduce the electricity duty and implement the tariff award of Gujarat Electricity Regulatory Commission. Government of Gujarat will also maintain grid discipline, comply with grid code and carry out the directions of RLDC. The Government of Gujarat will also launch consumer awareness programme with special emphasis on rural consumers on reform process. In reciprocation, the Government of India has committed support for Renovation and Modernisation of thermal power stations strengthening of sub-transmission and distribution system, metering, and reduction in T & D losses through the mechanism of Accelerated Power Development Programme and Power Finance Corporation. Government of India will also extend support through PFC for implementation of critical transmission lines in the State of Gujarat. In recognition of Gujarat being a reforming State Power Finance Corporation would finance its investment needs in relaxation of exposure limit, ROR and DSCR. Government of India will also assist in financing of thermal power development and rural electrification in Gujarat.

RENEWABLE ENERGY SEMINAR INAUGURATED

The choice of technology for Photo Voltaic cell use should address to the production of low cost modules based on considerations of price, efficiency and life expectancy Shri M. Kannappan, Minister of State for Non Conventional Energy Sources said here today. The Minister was speaking at a Seminar on "Renewable Energy: Has India Finally Arrived" which he had inaugurated.

The Minister added that in the case of technologies for rural application namely the biogas, improved cook stoves and stand alone or local grid biomass power the first two have lived for quite sometime on capital subsidies. We need to ask ourselves the question as to how these low cost technologies have not become a movement so far. In the case of local grid biomass power perhaps the creation of a social management structure is a problem and I know that this is being addressed in some pilot
programmes.

Recent resource assessment studies indicate that with new technologies Indian potential for wind power could be about 45,000 MW instead of the earlier assessed potential of 20,000 MW small Hydro and biomass(including congeneration) potential being 15,000 MW and 19,500 MW respectively. The total achievement of 2800 MW from these technologies works
out to 3.6 percent of the available potential. Looking from the angle of total installed capacity of about 98,000 MW in the country we find that renewable share is about 3 percent An achievement of about 3 percent is not meager when we look at the constraints of new technology risk, high interest rates and above all the institutional barriers that affect the total gamut of
infratstructure investments in our country. Further promotion of these renewable technologies are linked to general investment climate in the power sector itself. " While we are in the process of motivating State Governments for adoption of a declared renewable energy policy which we have substantially achieved, my considered view is that further growth of renewables in these areas shall depend on how we address the institutional problems and interest rates," he added.

CEA CLEARS 150 MW ORISSA HYDEL PROJECT

The Central Electricity Authority has accorded techno-economic clearance to 150 Mw Balimela Extension Hydro-electric Project located in Malkangiri District of Orissa.

The project would be constructed by M/s Orissa Hydro Power Corporation Ltd. Balimela Extension Hydro Electric project envisages installation of two units each of 75 Mw in the existing power house in which 6 units of 60 Mw each are already operating. The capacity of Surlikonda Barrage would also be enhanced from 107 ham to 216 ham. The project would provide valuable peaking power to Eastern Region and Orissa Power System. The units would be commissioned in 31 and 33 months respectively.

The extension project has been cleared at a completed cost of Rs. 200 crore included IDC. The debt equity ratio of the project is 60:40 and the equity of Rs. 60 crore would be brought by OHPC through internal resources and balance Rs. 20 crore would be funded by Government of Orissa. The debt portion of $ 21 million and Rs. 39 crore would be completely financed by Power Finance Corporation Ltd.

TOTAL TAX COLLECTION DURING APRIL-DECEMBER UP BY 14.09%

DIRECT TAX COLLECTION UPTO DECEMBER 2000 GROWS BY OVER 29%

Total collection of all taxes, including both direct and indirect taxes, during the month of December, 2000 have amounted to Rs.22294.20 crore as compared to Rs.22286.18 crore during December, 1999 registering an increase of 0.04%. On a cumulative basis upto December 2000, total tax collection have amounted to Rs.129568.91 crore, as compared to the total collection of Rs.113571.48 crore upto December, 1999, registering a growth of 14.09%.

Total collection of direct taxes during December, 2000 is Rs.12711.42 crore, as against Rs.12016.32 crore during the corresponding month of last year, showing a growth of 5.78%. Total collection of direct taxes upto December, 2000 is Rs.44686.02 crore, as against Rs.34608.38 crore upto December, 1999, showing an increase of 29.12%.

The collection of income tax during the month of December, 2000 is Rs.3722.47 crore as compared to Rs.3420.78 crore during the month of December, 1999, i.e., an increase of 8.82%. Collection of corporation tax during December 2000 is Rs.8905.53 crore as compared to collection of Rs.8121.84 crore during the month of December, 1999, showing an increase of 9.65%. The collection of income tax upto the end of December, 2000 is Rs.20584.34 crore as compared to Rs.15047.17 crore upto the end of December, 1999 i.e., an increase of 36.80%. Collection of corporation tax upto December, 2000 is Rs.23768.11 crore as compared to collection of Rs.18928.79 crore during the corresponding period last year, registering an increase of 25.57%.

Total collection of indirect taxes during December, 2000 is Rs.9582.78 crore as compared to Rs.10269.86 crore during the same month last year, representing a decrease of 6.69%. Total collection of indirect taxes upto December, 2000 is Rs.84882.89 crore as compared to Rs. 78963.10 crore upto December 1999, registering an increase of 7.50%.

The collection of excise duties during the month of December, 2000 is Rs.5727.79 crore, as compared to Rs.5452.54 crore collected during December, 1999. Thus, excise collection during December, 2000 is higher by 5.05%. Collection of customs revenue during December, 2000 is Rs. 3594.11 crore, as compared to Rs.4639.26 crore, showing a decrease of 22.53%. The collection of excise duties upto the end of December, 2000 is Rs.47654.77 crore, as compared to Rs.42334.63 crore collected upto December, 1999, thereby registering an increase of 12.57%. Collection of customs revenue upto December, 2000 is Rs.34701.59 crore, as compared to Rs.34542.61 crore during the corresponding period last year, thereby showing a growth of 0.46%.

ROLL BACK IN RETIREMENT AGE OF EMPLOYEES IN PORT SECTOR

The Government is examining the proposal of four major Port Trusts of Chennai, Mormugao, Cochin and Kandla for rolling back of the age of retirement for its mployees from the existing 60 years to 58 years. The proposal is intended to reduce excess manpower and to make ports financially stable and more competent. Earlier in November 2000, the Government approved the proposal for rolling back in the age of retirement from 60 years to 58 years in respect of Mumbai, Tuticorin, New Manglore, Visakhapatnam, Calcutta and Paradeep Port Trusts.

Altera Corporation-Alcatel to develop Gigabit Ethernet Products

San Jose and Calabasas, Calif. Jan. 15, 2000 - Altera Corporation (Nasdaq:
ALTR), a leading supplier of programmable logic devices (PLDs), and Alcatel
(Paris : CGEP.PA and NYSE : ALA), today announced they have teamed to
provide intellectual property (IP) cores to enable faster development of
Gigabit Ethernet application products.

Alcatel's Gigabit Ethernet MAC is developed for high performance
communication applications such as hubs, routers and switches. In joining
Altera's Megafunction Partners Program (AMPP), a program that delivers
"best-in-class” IP cores from third party IP suppliers, Alcatel has
developed a programmable logic-optimized Gigabit Ethernet MAC for Altera's
high density, high performance APEX(TM) PLD architecture. Altera selected
Alcatel's Gigabit Ethernet MAC design for its ability to meet the
challenging 125 MHz timing requirements of the Gigabit Ethernet standard.

"We are pleased that Alcatel has joined the AMPP program and are equally
excited that the company's Gigabit Ethernet cores are now available to
Altera customers,” said Craig Lytle, vice president of Altera's
intellectual property business unit. "Alcatel's Gigabit Ethernet media
access controller will allow customers to leverage the high performance of
the APEX devices to achieve high system throughput.”

"Alcatel's membership in Altera's AMPP program will greatly expand our
worldwide presence,” said Patrick Liot, president of Alcatel's e-Business
Networking Division. "Alcatel's widely licensed Ethernet MAC cores,
targeted specifically at the PLD community, allow Altera customers to take
advantage of low risk, proven technology and also allow for faster
prototyping of products than standard ASIC development.”

Alcatel's Gigabit Ethernet MAC includes auto negotiation for 1000Base-X and
supports flow control. The Gigabit Ethernet MAC is capable of operating
at a frequency of 125-MHz when implemented in an Altera APEX(TM) device.
The APEX implementation allows a sustained throughput of 987 Mb/s.
Alcatel's MAC supports standard Gigabit PHY interfaces including 1000FX
SERDES and GMII. Netlist and source code license options are available.

Alcatel is the market leader in 10/100 Mbps and Gigabit media access
technology and a Principal Member of the 10-Gigabit Ethernet Alliance. The
Alcatel Technology Licensing Group's silicon-proven products are currently
used in approximately 80% of the 10/100 Mbps ports and over 50% of the
Gigabit ports, shipping worldwide.

 

January 22, 2001

Bharat Heavy Electricals Limited

The "AAA" (pronounced 'triple A') rating assigned to the Rs. 3 billion Bonds Programme of Bharat Heavy Electricals Limited (BHEL) has been Reaffirmed. The "FAAA" (pronounced 'F triple A') rating assigned to the Fixed Deposit Programme of BHEL and the "P1+" (pronounced 'P one plus') rating assigned to Rs. 5 billion Short Term Debt Programme of BHEL have also been Reaffirmed.

The ratings reflect the pre-eminent position of BHEL in the domestic power plant equipment and heavy engineering sectors, the strong order inflow during 2000-01, its size of operations and favourable capital structure. These positives are partly offset by declining in profitability, high and increasing level of debtors leading to pressure on BHEL's operational cash flows.

BHEL is a dominant player in the domestic power plant equipment industry and electrical engineering industry. The operations of the company are divided into two broad groups viz. power group and industry group. The power group supplies power plant equipments to power generators such as central generating companies, State Electricity Boards (SEB) and Independent Power Producers (IPP), while the industry group caters to diverse sectors such as process industries, transportation, power transmission and distribution, defence etc. The Government of India (GoI) with its 67.7% stake is the single largest shareholder of the company. For the year ended March 31, 2000, BHEL reported an operating income and net profit of Rs.64.25 billion and Rs. 5.99 billion, respectively.

BOC India Limited

A 'AA' (pronounced 'double A') rating has been assigned to BOC India Limited's (BOC's) Rs. 500 million NCD (enhanced from Rs. 400 million) programme. The company's fixed Deposit programme has been reaffirmed at 'FAA' (pronounced 'F double A') and the Rs. 50 million short term non convertible debenture and Rs. 250 Million Commercial Paper programmes have been rated 'P1+' (pronounced 'P one plus'). The ratings primarily reflect the company's strong relationship with its parent, BOC plc., UK. The company's improving performance on key operating parameters and cost reduction through the restructuring exercise, increased focus on core business and established market position in gases and contracts divisions lend support to the rating. The ratings continue to be constrained by the company's own weakened financial position, risks associated with the cyclical gas business which is at present under pressure due to sluggishness in the user industries as well as increasing competition, and high dependence on sales from the newly set up Jamshedpur manufacturing facility.BOC is engaged in the manufacture and sale of industrial gases (Gases Division) and air separation plants, gas plants & cryogenic equipment (Contracts Division). During the first half of 2000-01, the company declared profits of Rs. 0.7 million on sales of Rs. 1365 million.

January 22, 2001

Cadila Healthcare Limited

The "P1+" (pronounced 'P one plus') rating assigned to the Rs.350 million commercial paper programme of Cadila Healthcare Ltd. has been re-affirmed.The rating assigned reflects Cadila Healthcare Limited's (CHL) strong position in the domestic formulations market supported by a broad therapeutic coverage, wide product range and strong brands in certain therapeutic areas. Moderating the company's business strengths is the company's limited presence in the export markets. With the funds raised through the Rs.3700 mn. IPO issue in February 2000, the company's liquidity position and financial profile are favorable, characterized by low gearing and comfortable interest cover ratios. Adequate cash accruals from operations also extends support to the company's overall credit profile.

January 22, 2001

ICI India Limited

Rs. 600 million Non-Convertible Debenture Issue; Rs. 1,000 million Commercial Paper Programme

The 'AA+' (pronounced 'double A plus') rating assigned to the Rs. 600 million non-convertible debenture issue of ICI India Limited (ICI) has been re-affirmed. In addition, the 'P1+' (pronounced 'P one plus') rating assigned to the Rs. 1 billion commercial paper programme of the company has also been re-affirmed.

The rating re-affirmation factors in the improvement in the financial risk profile of the company during 1999-2000. Further, ICI continues to enjoy the benefits of a strong parentage, diversified business profile, and an established presence in the domestic paints industry. The company utilised proceeds from sale of property and transfer of explosives business to a subsidiary during the year primarily to reduce debt, which has led to a significant improvement in the company's capital structure and interest coverage ratio. CRISIL expects the company's favourable financial position to be sustained over the medium term future. However, these strengths are partly offset by slow growth in the paints business during 1999-2000 and increasing competition in most of the business segments. The company's future business and financial risk profile would also be linked to its business restructuring activity and the extent of investments (including acquisitions, if any) planned in the future, both of which are aimed at moving the company's profile towards a speciality chemicals company.

ICI is a 51% subsidiary of Imperial Chemical Industries plc, UK (outstanding long-term S&P rating of 'BBB+'). The company is currently engaged in several businesses including paints, polyurethanes, surfactants, rubber chemicals, pharmaceuticals, catalysts, nitro-cellulose, and acrylics. The paints business accounted for around 40% of the company's net sales of around Rs. 7.8 billion during 1999-2000. During the year 1999-2000, the company has transferred its explosives business to its 51% subsidiary - Indian Explosives Ltd. - in joint venture with Orica Corporation of Australia.

Further during the current year 2000-01, ICI has announced plans to sell its polyurethane business to the Indian entity of Huntsman Corporation of USA for a consideration of Rs. 820 million. In addition, the motor and general industrial paints business (alongwith the plant at Rishra) is proposed to be transferred to a 50:50 joint venture with Berger Paints India Limited for a consideration of Rs. 160 million.

January 22, 2001

Tata Yodagawa Limited: Rs. 30 million Commercial Paper Programme Fixed Deposit Programme

The "P1+" (pronounced 'P one Plus') rating assigned to the Rs 30 million Commercial Paper programme and the "FAA" (pronounced 'F double A') rating assigned to the Fixed Deposit programme of Tata Yodogawa Limited (TAYO) have been reaffirmed.The ratings reflect TAYO's dominance in the domestic rolls market and increased presence in the export markets, efficient operations augmented by overseas collaborations, the favourable financial profile and strong association with the TATA group, and in particular, the Tata Iron and Steel Company Limited (TISCO) (CRISIL rated AA+/FAAA/P1+). The ratings are tempered by its dependence on the steel industry and the company's relatively small networth and size.For the first half ended September 30, 2000, the company declared profits of Rs. 25 mn on sales of Rs. 445 mn.

Jerusalem, 21 January 2001

ISRAELI POSITION ON THREE MAIN POINTS AT TABA TALKS

At its weekly meeting today (Sunday), 21.1.2001, the Cabinet took
cognizance of both Prime Minister Ehud Barak's statement
regarding the departure of the delegation to the negotiations
with the Palestinians at Taba and the Israeli position on three
main points:. Israel will never allow the right of Palestinian refugees to
return to inside the State of Israel. Prime Minister Barak will not sign

any document which transfers sovereignty over the Temple Mount to the Palestinians.

Israel insists that in any settlement, 80% of the Jewish
residents of Judea, Samaria and Gaza will be in settlement blocs
under Israeli sovereignty.

Two San Jose Men Plead Guilty in Theft of Trade Secrets Case (January 2, 2001)

(January 2, 2001)

The United States Attorney’s Office for the Northern District of California announced that Mikahel K. Chang pled guilty today to theft of a trade secret and criminal forfeitures. Also, Daniel Park pled guilty to aiding and abetting criminal copyright infringement.Mr. Chang, 32, and Mr. Park, 33, both of San Jose, California were indicted by a federal Grand Jury on June 14, 2000. Both defendants were charged with one count of theft of a trade secret . Chang was charged with two counts of criminal forfeiture Mr. Park was charged with one count of criminal forfeiture. Under the plea agreements, Mr. Chang pled guilty to all three counts and Mr. Park pled guilty to a superseding information charging the criminal copyright infringement violation.

In pleading guilty, Mr. Chang admitted to having received, possessed and without authorization appropriated stolen trade secret information belonging to Mr. Chang’s former employer, Semi Supply, Inc. of Livermore, California, knowing such information to have been stolen, obtained and converted without authorization. Specifically, Mr. Chang admitted to having received, possessed and appropriated without authorization customer and order information in databases relating to Semi Supply’s sales. In pleading guilty, Mr. Park admitted to having aided and abetted the willful infringement of a copyright for purposes of commercial advantage and private financial gain. Mr. Park admitted to having aided and abetted the willful infringement of a copyright by accessing a FoxPro database program, which he knew had been copied without authorization and which had been infringed for the purposes of commercial advantage and private financial gain. Specifically, Mr. Park admitted that the FoxPro database program was used to access the stolen trade secret information belonging to Semi Supply.

The sentencing of Mr. Chang is scheduled for July 10, 2001 at 9:00 a.m. before Judge Fogel in San Jose. The maximum statutory penalty for a violation of the theft of trade secrets statute is 10 years imprisonment, and a fine of $250,000 or twice the gross gain or twice the gross loss (whichever is greatest), plus restitution if appropriate. However, the actual sentence will be dictated by the Federal Sentencing Guidelines, which take into account a number of factors, and will be imposed in the discretion of the Court. The sentencing of Mr. Park is scheduled for April 3, 2001 at 9:00 a.m. before Judge Fogel in San Jose. The maximum statutory penalty for this violation of the criminal copyright statute is 1 year imprisonment, and a fine of $100,000, plus restitution if appropriate. Again, the actual sentence will be dictated by the Federal Sentencing Guidelines, which take into account a number of factors, and will be imposed in the discretion of the Court. The prosecution is the result of an investigation by agents of the High Tech Squad of the Federal Bureau of Investigation which was overseen by the Computer Hacking and Intellectual Property ("CHIP") Unit of the U.S. Attorney’s Office. Ross W. Nadel and Mavis Lee are the Assistant U.S. Attorneys who prosecuted the case with the assistance of legal technician Lauri Gomez.

Global Internet Leader Holds Oman's First Ever Dedicated Business Internet Expo and Conference

Muscat, Oman -- 21 January 2001 - As one of the latest Arab countries to join the World Trade Organisation (WTO), the vista of opportunity for Internet entrepreneurs and organisations embracing Internet business models in the Sultanate of Oman offers even more promise. Cisco Systems will be holding its first ever Cisco Expo in the Sultanate on the Sunday, 21 January at the Grand Hyatt Muscat to help provide solid information, case studies and the latest technology solutions to e-entrepreneurs and executives from Omani organisations that wish to capitalise on the digital revolution.


"Until now businesses in the Sultanate have only had generalist computing shows. Cisco Expo will be the first networking and Internet show to be held here. Cisco has invested in creating a show with the quality of content that will provide business and government delegates with both business and technical knowledge to drive forward their Internet strategies," said Craig Taylor, Gulf regional manager of Cisco Systems Middle East.Cisco Expo was originally conceived to be a forum that would satisfy the need for a high-level networking technology exhibition in developing markets. The primary goal of the Cisco Expo is to provide technical skills and information to IT managers and engineers, who are grappling with the challenges of choosing and implementing modern networking systems. Cisco will be using this platform as an opportunity to demonstrate leading edge technology that can be used in an integrated networked environment.


There will be two tracks: a business track focussed on how to leverage Internet technology for competitive advantage. Cisco Expo will feature presentations on new perspectives that illustrate key aspects of preparing businesses for the Internet such as the global Internet economy, Internet business solutions, 'New World' contact centres, 'content networking' and the business benefits of a 'New World' architecture.

The technical track is for network engineers, and will feature presentations on the technical implications of implementing converged voice/data networks, implementing call centres, high-performance switching in the enterprise, secure networking and virtual private networks (VPNs).
"As the business world becomes increasingly web-centric, the demand for networking expertise, knowledge and education increases. Cisco Expo is a great venue for Omani businesses to talk to the experts and find out about how the new generation of Internet technology can integrate with the organisation and make it more productive, more competitive and more profitable," said Taylor

Inauguration of the First Liquid Chemical Port in India

January 23 2001
The Union Minister of Law Justice and Company Affairs and
Shipping Shri Arun Jaitley will inaugurate the country's first liquid
chemical port at Dahej in Bharuch district of Gujarat on January 25
2001 ata function there to be presided over by the Chief Minister of Gujarat. The
Minister of State for Shipping Shri Hukumdeo Narayan Yadav will be
present among other dignitaries on the occasion.

The liquid chemical port was built at a cost of Rs. 850 crore under the
aegis of Gujarat Chemical Port Terminal Company Limited
a joint venturebetween Gujarat State Government and Indo-Petro Chemicals Ltd. (IPCL).This port will enable the promoter companies to access the raw material
requirements at international cost and also enable the chemical industries
located in the region to access their feedstock and intermediates at
internationally competitive rates. This is also intended to decongest
Jawaharlal Nehru Port and Kandla Port considerably.

Cancellation of the Archimedes Project Meeting in Cairo

Tel Aviv: The Israeli Ministry of Foreign Affairs condemns the decision of
the Egyptian Chamber of Commerce to prevent the participation of
Israeli representatives in the annual Euro-Mediterranean Chambers
of Commerce forum. The forum was due to take place this week in
Cairo, within the framework of the Archimedes Project, which is
associated with the Economics Basket of the Barcelona Process.

Following a Foreign Ministry appeal to the Secretariat of the
Association of the European Chambers of Commerce (Eurochambers),
a decision was taken to cancel the Cairo meeting, and to
reschedule it for a later date at a different location. The
decision was taken in coordination with the EU Commission.

The refusal of the Egyptian Chamber of Commerce to accept Israeli
representatives contravenes the normalization agreements between
Israel and Egypt, and is incompatible with the principles adopted
by the Barcelona Process member-states. The Euro-Mediterranean
partnership requires the participation of all members in all the
activities taking place within the framework of the process,
while avoiding politicization.

 

Toxic Toys: 2000 Report


When you see a "non-toxic" label on a toy, you assume that toy is safe for your child. However, a material commonly used in children's toys is laced with toxic additives that could endanger your child's health. The material is PVC, or polyvinyl chloride ("vinyl"), plastic. Greenpeace investigations last year revealed that PVC plastic contains two types of hazardous additives: plasticizers, which are added to PVC to make it soft or flexible, and stabilizers, which are added to the plastic to keep it from degrading. Both types of additives pose unnecessary risks to the health of our children. Plasticizers are toxic compounds that can leach out of the plastic into a child's mouth, and common stablizers in PVC include lead and cadmium. Our follow-up on the report cards Greenpeace issued for toy manufacturers last year showed that Gerber has put their nose to the grindstone and moved from a grade of D to a grade of A. Likewise, Tiny Love made good on their pledge to eliminate PVC from their products. Other manufacturers, such as Disney, Hasbro, and Playskool, have shown no change at all. Greenpeace is demanding the elimination of PVC children's toys and a switch to safer materials.

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