NEW DELHI: Commuting through the congested east Delhi may soon become easy with the city government today giving an in-principle approval to a 10.8 km mono-rail system which will be connected to the Metro lines.
The government plans to connect Shastri Park with Laxmi Nagar via Trilokpuri through a mono-rail having 12 stations from where commuters can access the system.
The new system is expected to supplement the existing inter-city transport modes like the Metro. The project is being developed in a way that the new system makes it possible to interchange with three Delhi Metro lines.
The in-principle approval came at a high-level meeting chaired by Delhi Chief Minister Sheila Dikshit and attended by Ministers A K Walia, Arvinder Singh Lovely and Ramakant Goswami, East Delhi MP Sandeep Dikshit, Chief Secretary P K Tripathi and Principal Secretary Chandaramohan.
"East Delhi will become the first in the city to welcome the introduction of another fast, convenient, dependable and pollution free elevated inter-city new mode of transport. In- principle approval was today given in a high-level meeting presided over by Dikshit," a senior official said.
A presentation based on a study conducted by RITES Ltd on mono-rail was given in the meeting. It was also decided to place this issue before the Cabinet to seek its formal approval to this effect, the official said.
Dikshit said it has been decided that a detailed note will be discussed in a Cabinet meeting to give a formal approval.
The mono-rail is expected to attract a daily ridership of around 1.5 lakh and will be able to provide an inter-city transport service in congested localities in East Delhi where the Delhi Metro and even buses are difficult to ply.
Success in my Habit
Tuesday, January 17, 2012
Italy disaster could hit cruise industry
MILAN: The spectacular cruise liner accident off the coast of Italy is not just a disaster for the ship's owners, but could inflict wider damage on an industry already facing stiff headwinds.
The Costa Concordia, with more than 4,000 people on board, flipped on its side after hitting a rock on Friday night close to the beautiful island of Giglio, off Italy's west coast.
At least five people died in the accident. The luxury 114,500-tonne ship was operated by Costa Crociere, a unit of Carnival Corporation & Plc, the world's largest cruise company. The stricken vessel was one of the group's main assets in the lucrative European cruise market.
"This is a PR (public relations) nightmare for the Costa brand," said Jaime Katz, equity analyst from investment research company Morningstar in Chicago.
"The question is, when that's been stripped out, whether the Carnival brand will be tarnished."
The accident could hardly have come at a worse time for the group, with the global economic crisis already making potential cruise customers nervous about their jobs and finances.
"I think the important factors are that this adds insult to injury, with struggling economic markets in Europe and all the unrest you've seen in the Middle East," Katz said, noting that the accident came at the peak season for the industry.
"Carnival still books a large portion of their bookings at this time of year. What company, in the middle of the busiest season for their business, wants to be weighed down with that sort of PR?" she asked.
Costa Crociere has been fully owned by Carnival since 2000, when the Miami-based company bought the half it didn't already own. At that time Carnival, which makes about 40 percent of its revenues in Europe, said Costa Crociere would be its primary platform for expanding in this part of the world.
In December Carnival, which accounts for about half of the global cruise line business, lowered its prices for 2012 voyages because of weaker demand in crisis-hit Europe.
The Costa Concordia, with more than 4,000 people on board, flipped on its side after hitting a rock on Friday night close to the beautiful island of Giglio, off Italy's west coast.
At least five people died in the accident. The luxury 114,500-tonne ship was operated by Costa Crociere, a unit of Carnival Corporation & Plc, the world's largest cruise company. The stricken vessel was one of the group's main assets in the lucrative European cruise market.
"This is a PR (public relations) nightmare for the Costa brand," said Jaime Katz, equity analyst from investment research company Morningstar in Chicago.
"The question is, when that's been stripped out, whether the Carnival brand will be tarnished."
The accident could hardly have come at a worse time for the group, with the global economic crisis already making potential cruise customers nervous about their jobs and finances.
"I think the important factors are that this adds insult to injury, with struggling economic markets in Europe and all the unrest you've seen in the Middle East," Katz said, noting that the accident came at the peak season for the industry.
"Carnival still books a large portion of their bookings at this time of year. What company, in the middle of the busiest season for their business, wants to be weighed down with that sort of PR?" she asked.
Costa Crociere has been fully owned by Carnival since 2000, when the Miami-based company bought the half it didn't already own. At that time Carnival, which makes about 40 percent of its revenues in Europe, said Costa Crociere would be its primary platform for expanding in this part of the world.
In December Carnival, which accounts for about half of the global cruise line business, lowered its prices for 2012 voyages because of weaker demand in crisis-hit Europe.
Ports need Rs 2.76 lakh crore for capacity expansion: Shipping Ministry
NEW DELHI: The Shipping Ministry has said ports in the country need an investment of Rs 2.76 lakh crore for capacity expansion and a major chunk of this amount is expected from private players.
Seeking private participation in improving ports infrastructure, Shipping Secretary K Mohandas in a message to investors said, " ... estimated investment for capacity augmentation projects in the major ports (is) Rs 1,09,449.41 crores, a major proportion of which is expected to be funded through private sector participation."
The states have identified projects for development of non-major ports at an estimated cost of Rs 1.67 lakh crore for creation of additional capacity of 1,294 MT, his said adding, "Private sector is envisaged to fund most of the projects through PPP or BOT or BOOT basis."
India has 12 major ports along its 7,517 kms of coastline, six each on the west and east coasts. Around 200 non-major ports transport about 90 per cent by volume and 70 per cent by value India's international trade.
While major ports are under the jurisdiction of the central government, non-major ports are under the control of respective states/ Union territories.
"In order to realise the growth potential and become globally competitive, utmost importance has been given for development of quality infrastructure .... In line with the overall objective of development, the vision of the Ministry of Shipping is to ensure vibrant, efficient and safe ports and shipping services," Mohandas said.
The preferred route for private sector participation is through open competitive bidding, his said, adding that in order to bring in uniformity and transparency in the public-private-partnership process, standardised model concession agreements have been put in place.
The Ministry plans to augment the capacities in all ports to 2.5 billion tonnes by 2016-17 and more than 3 billion tonnes by 2020.
Traffic handled at major ports during 2010-11 was 570.03 million tonnes and at non-major ports it was 314.78 million tonnes.
Seeking private participation in improving ports infrastructure, Shipping Secretary K Mohandas in a message to investors said, " ... estimated investment for capacity augmentation projects in the major ports (is) Rs 1,09,449.41 crores, a major proportion of which is expected to be funded through private sector participation."
The states have identified projects for development of non-major ports at an estimated cost of Rs 1.67 lakh crore for creation of additional capacity of 1,294 MT, his said adding, "Private sector is envisaged to fund most of the projects through PPP or BOT or BOOT basis."
India has 12 major ports along its 7,517 kms of coastline, six each on the west and east coasts. Around 200 non-major ports transport about 90 per cent by volume and 70 per cent by value India's international trade.
While major ports are under the jurisdiction of the central government, non-major ports are under the control of respective states/ Union territories.
"In order to realise the growth potential and become globally competitive, utmost importance has been given for development of quality infrastructure .... In line with the overall objective of development, the vision of the Ministry of Shipping is to ensure vibrant, efficient and safe ports and shipping services," Mohandas said.
The preferred route for private sector participation is through open competitive bidding, his said, adding that in order to bring in uniformity and transparency in the public-private-partnership process, standardised model concession agreements have been put in place.
The Ministry plans to augment the capacities in all ports to 2.5 billion tonnes by 2016-17 and more than 3 billion tonnes by 2020.
Traffic handled at major ports during 2010-11 was 570.03 million tonnes and at non-major ports it was 314.78 million tonnes.
Govt examining proposals for ports in AP, Kerala, K'taka, Guj
NEW DELHI: The government today said it is examining proposals from Andhra Pradesh, Karnataka, Kerala and Gujarat for setting up major ports in these states and has also prepared plans of attracting Rs 2.76 lakh crore investment for augmenting existing port capacity by 2020.
"We have received three proposals from Andhra Pradesh and one each from Karnataka, Kerala and Gujarat for establishing major ports. Teams have been sent to examine the sites and a committee will soon come up with its report," Shipping Secretary K Mohandas told reporters while announcing the India Maritime Week.
Under its Maritime Agenda, unveiled in 2011, the Ministry has proposed setting up of major ports in the East and West coasts and all maritime states were asked to select sites for the same.
Mohandas said ports contributed significantly to the country's growth and the Ministry has made plans that envisages Rs 2.76 lakh crore investment in ports, a major chunk of which is expected from the private sector.
On award of projects under public-private-partnerships (PPP), Mohandas said of the "23 projects in basket this year under the mode, the Ministry is hopeful of awarding about 80 per cent by the fiscal-end."
The agreement for project at JNPT port is likely to be signed soon, while bid for developing terminal at Kandla has been opened and the Ministry is hopeful to award Chennai project this fiscal.
India has 12 major ports along its 7,517 kms of coastline, six each on the west and east coasts. Around 200 non-major ports transport about 90 per cent by volume and 70 per cent by value India's international trade.
The Ministry plans to augment the capacities in all ports to 2.5 billion tonnes by 2016-17 and more than 3 billion tonnes by 2020.
Traffic handled at major ports during 2010-11 was 570.03 million tonnes and at non-major ports it was 314.78 million tonnes.
India Maritime Week which kicked off today is designed to showcase India as a global maritime hub and to assist efforts in evolving a cohesive approach in making India a top maritime nation.
"We have received three proposals from Andhra Pradesh and one each from Karnataka, Kerala and Gujarat for establishing major ports. Teams have been sent to examine the sites and a committee will soon come up with its report," Shipping Secretary K Mohandas told reporters while announcing the India Maritime Week.
Under its Maritime Agenda, unveiled in 2011, the Ministry has proposed setting up of major ports in the East and West coasts and all maritime states were asked to select sites for the same.
Mohandas said ports contributed significantly to the country's growth and the Ministry has made plans that envisages Rs 2.76 lakh crore investment in ports, a major chunk of which is expected from the private sector.
On award of projects under public-private-partnerships (PPP), Mohandas said of the "23 projects in basket this year under the mode, the Ministry is hopeful of awarding about 80 per cent by the fiscal-end."
The agreement for project at JNPT port is likely to be signed soon, while bid for developing terminal at Kandla has been opened and the Ministry is hopeful to award Chennai project this fiscal.
India has 12 major ports along its 7,517 kms of coastline, six each on the west and east coasts. Around 200 non-major ports transport about 90 per cent by volume and 70 per cent by value India's international trade.
The Ministry plans to augment the capacities in all ports to 2.5 billion tonnes by 2016-17 and more than 3 billion tonnes by 2020.
Traffic handled at major ports during 2010-11 was 570.03 million tonnes and at non-major ports it was 314.78 million tonnes.
India Maritime Week which kicked off today is designed to showcase India as a global maritime hub and to assist efforts in evolving a cohesive approach in making India a top maritime nation.
Videocon to withdraw IT/ITES SEZ project in West Bengal
NEW DELHI: A Videocon group firm has approached the Centre to withdraw its IT/ITES SEZ project at Jalpaiguri due to "latest business outlook" in the northern region of West Bengal.
"...Now, the developer has requested for withdrawl of formal approval stating that the company is not able to implement the project owing to the latest business outlook of the region," according to a Commerce Ministry document.
An inter-ministerial Board of Approval (BoA), chaired by Commerce Secretary Rahul Khullar, will consider this request on January 24.
The project was to be implemented by Videocon Realty and Infrastructure Ltd which had been granted a formal approval for setting up 10-hectare Special Economic Zone(SEZ). The preliminary approval was given in May 2009.
Even as Chief Minister Mamata Banerjee recently held a meeting in Kolkata with industrialists, several projects relating to steel and power are stuck in the state for different reasons including certain regulatory and land issues.
Infrastructure major Larsen and Toubro has also approached the Commerce Ministry to surrender its IT/ITeS SEZ which was to come up at Coimbatore in Tamil Nadu, due to "economic unviability" of the project.
"The developer has requested for de-notification of the SEZ...in the changed economic scenario," the agenda papers of the BoA meeting said.
Besides, 11 developers including that of Parsvnath SEZ Ltd and Taneja Aerospace and Aviation Ltd have extension of time for execution of their projects.
However, India's largest software firm, TCS remains bullish on the sector and has sought approval for its new SEZ project at Indore in Madhya Pradesh.
"...Now, the developer has requested for withdrawl of formal approval stating that the company is not able to implement the project owing to the latest business outlook of the region," according to a Commerce Ministry document.
An inter-ministerial Board of Approval (BoA), chaired by Commerce Secretary Rahul Khullar, will consider this request on January 24.
The project was to be implemented by Videocon Realty and Infrastructure Ltd which had been granted a formal approval for setting up 10-hectare Special Economic Zone(SEZ). The preliminary approval was given in May 2009.
Even as Chief Minister Mamata Banerjee recently held a meeting in Kolkata with industrialists, several projects relating to steel and power are stuck in the state for different reasons including certain regulatory and land issues.
Infrastructure major Larsen and Toubro has also approached the Commerce Ministry to surrender its IT/ITeS SEZ which was to come up at Coimbatore in Tamil Nadu, due to "economic unviability" of the project.
"The developer has requested for de-notification of the SEZ...in the changed economic scenario," the agenda papers of the BoA meeting said.
Besides, 11 developers including that of Parsvnath SEZ Ltd and Taneja Aerospace and Aviation Ltd have extension of time for execution of their projects.
However, India's largest software firm, TCS remains bullish on the sector and has sought approval for its new SEZ project at Indore in Madhya Pradesh.
ONGC is in talks with ConocoPhillips to forge Reliance-BP like alliance
NEW DELHI: Statoil State-run Oil & Natural Gas Corp (ONGC) is in talks with US energy major ConocoPhillips to forge Reliance-BP kind of partnership in its exploration blocks including discovered blocks in Krishna-Godavari (KG) and Mahanadi basins.
The company has said in a statement "discussions with ConocoPhillips to explore possibilities of any business partnership are at a very nascent stage. ConocoPhillips is US' third-largest energy company and the fifth-largest refiner in the world.
There is a market speculation that ONGC has offered stakes in 18-19 oil and gas exploration blocks to ConocoPhillips.
ONGC declined to give any detail citing that the company is constrained by the "corporate governance guidelines."
Shares of the company rose 2.05% to Rs 261.75 on Tuesday.
After taking over as chairman & managing director of ONGC, Sudhir Vasudeva had said on Oct 2011 that the company was open to partnership with foreign energy majors for increasing oil and gas output from new discoveries, particularly two discoveries in Mahanadi basin and one in KG basin.
ONGC has been scouting for deepwater experts for its KG basin block since 2010 when foreign partners in the discovered gas fields, Petroleo Brasileiro SA or Petrobras and Norwegian oil major Statoil decided to quit the project. ONGC had farmed out 15% interest in the block to Petrobras and 10% to Norsk Hydro (Statoil) in 2007.
The company has said in a statement "discussions with ConocoPhillips to explore possibilities of any business partnership are at a very nascent stage. ConocoPhillips is US' third-largest energy company and the fifth-largest refiner in the world.
There is a market speculation that ONGC has offered stakes in 18-19 oil and gas exploration blocks to ConocoPhillips.
ONGC declined to give any detail citing that the company is constrained by the "corporate governance guidelines."
Shares of the company rose 2.05% to Rs 261.75 on Tuesday.
After taking over as chairman & managing director of ONGC, Sudhir Vasudeva had said on Oct 2011 that the company was open to partnership with foreign energy majors for increasing oil and gas output from new discoveries, particularly two discoveries in Mahanadi basin and one in KG basin.
ONGC has been scouting for deepwater experts for its KG basin block since 2010 when foreign partners in the discovered gas fields, Petroleo Brasileiro SA or Petrobras and Norwegian oil major Statoil decided to quit the project. ONGC had farmed out 15% interest in the block to Petrobras and 10% to Norsk Hydro (Statoil) in 2007.
Annual milk production in Haryana has reached 62.67 lakh tonnes
Ahmedabad: Chandigarh, January 17 - The annual milk production in Haryana has reached 62.67 lakh tonnes as compared to 52.22 lakh tonnes during 2004-05.
Haryana Animal Husbandry and Dairying department official said that per capita per day availability of milk in the state is 680 gram as compared to national average of 262 grams. A target for doubling the milk in the next 10 years has been fixed.
He said that to provide quality veterinary services, the government had opened 133 government veterinary hospitals and 291 government veterinary dispensaries. These are in addition to up gradation of 120 government veterinary dispensaries .
As a result of it, the total number of veterinary institutions in the state had gone up-to 2790 for providing veterinary and breeding services to the livestock in the state.
The Government had taken many steps for conservation and improvement of indigenous breed of buffaloes and cattle, especially Murrah and Hariana breeds. For the purpose, the owners of top quality Murrah buffaloes were given cash incentives ranging from Rs 5000 to Rs 25000 per milk animal depending upon the milk yield.
He said that Haryana was the only State in the country where the insurance of animals belonging to Scheduled Caste families was being done free of cost. During the period from April, 2005 to December, 2011, 2.27 lakh animals had been insured. In addition to this, 15 districts of the state were being covered under the centrally sponsored livestock insurance scheme.
Haryana Animal Husbandry and Dairying department official said that per capita per day availability of milk in the state is 680 gram as compared to national average of 262 grams. A target for doubling the milk in the next 10 years has been fixed.
He said that to provide quality veterinary services, the government had opened 133 government veterinary hospitals and 291 government veterinary dispensaries. These are in addition to up gradation of 120 government veterinary dispensaries .
As a result of it, the total number of veterinary institutions in the state had gone up-to 2790 for providing veterinary and breeding services to the livestock in the state.
The Government had taken many steps for conservation and improvement of indigenous breed of buffaloes and cattle, especially Murrah and Hariana breeds. For the purpose, the owners of top quality Murrah buffaloes were given cash incentives ranging from Rs 5000 to Rs 25000 per milk animal depending upon the milk yield.
He said that Haryana was the only State in the country where the insurance of animals belonging to Scheduled Caste families was being done free of cost. During the period from April, 2005 to December, 2011, 2.27 lakh animals had been insured. In addition to this, 15 districts of the state were being covered under the centrally sponsored livestock insurance scheme.
National Housing Bank plans to raise upto Rs 10 billion via bonds
MUMBAI: National Housing Bank ( NHB) plans to raise upto 10 billion rupees ($196.1 million) via 36-month bonds with put/call option after 13 months, three sources familiar with the matter said on Tuesday.
The base size of the issue is 2.5 billion rupees and the firm has invited quotes on Tuesday, said the sources.
The base size of the issue is 2.5 billion rupees and the firm has invited quotes on Tuesday, said the sources.
HDFC Bank in 'Harvard Business Review' elite list of 10 companies
MUMBAI: HDFC Bank has been featured by 'Harvard Business Review' in a list of 10 companies globally that have grown their net income by 5 per cent every year for the 10-year period ended 2009, the private lender said today.
The list is based on a survey, 'How the growth outliers do it', which covered 2,347 organisations, all with market capitalisation of USD 1 billion.
'Harvard Business Review' is a reputed general management magazine.
"These companies have been recognised for prospering over the long-term and being more stable and innovative than their competitors," the survey report said.
"They (the selected companies) make small bets early and diversify their portfolios, are active acquirers, have processes that support speed and flexibility, build innovations into everyday operations and hold to their talent and keep their senior leadership stable," it said.
Referring to HDFC Bank, the report said the Indian lender had a history of entering into new growth markets through initiatives like the launch of international debit cards, tele-banking, mobile banking and foreign exchange services, among others.
Besides HDFC Bank, the other Indian company to be featured in the list is IT giant Infosys.
The list comprises three companies from the US, two each from India and Spain and one each from Japan, Slovenia and China.
The list is based on a survey, 'How the growth outliers do it', which covered 2,347 organisations, all with market capitalisation of USD 1 billion.
'Harvard Business Review' is a reputed general management magazine.
"These companies have been recognised for prospering over the long-term and being more stable and innovative than their competitors," the survey report said.
"They (the selected companies) make small bets early and diversify their portfolios, are active acquirers, have processes that support speed and flexibility, build innovations into everyday operations and hold to their talent and keep their senior leadership stable," it said.
Referring to HDFC Bank, the report said the Indian lender had a history of entering into new growth markets through initiatives like the launch of international debit cards, tele-banking, mobile banking and foreign exchange services, among others.
Besides HDFC Bank, the other Indian company to be featured in the list is IT giant Infosys.
The list comprises three companies from the US, two each from India and Spain and one each from Japan, Slovenia and China.
Banks need to invest in digital platform: PwC
MUMBAI: Country's lenders are not investing in digital platform for banking even as customers are ready to pay for service which they use, a survey by the consultancy PricewaterhouseCoopers (PwC) has found.
"Banks have generally been slow to openly embrace the digital innovation...they (the customers) are willing to pay for these and yet the majority of banks still only provide basic mobile and internet banking services," PwC India's associate director for financial services, Robin Roy, said.
The commercial banks tend to see digital platforms only as a way to reduce costs and it is time they start to invest in their digital offerings keeping in with the expectations of the customers, he added.
PwC released a report titled "The Digital Tipping Point" said customers are willing to pay for extra services. 85 percent of those polled in India said they will pay for transaction notifications coming through social networking sites like Twitter and Facebook.
Other areas where they are ready to pay include spending analysis tools, relevant third-party offers and storing documents in a virtual vault, among others.
Stating that the needs of the generation Y are different and that the grouping is very diligent in choosing whom they bank with, the report says, "The quality of a bank's digital offering will become a key determinant for customer stickiness."
"Banks have generally been slow to openly embrace the digital innovation...they (the customers) are willing to pay for these and yet the majority of banks still only provide basic mobile and internet banking services," PwC India's associate director for financial services, Robin Roy, said.
The commercial banks tend to see digital platforms only as a way to reduce costs and it is time they start to invest in their digital offerings keeping in with the expectations of the customers, he added.
PwC released a report titled "The Digital Tipping Point" said customers are willing to pay for extra services. 85 percent of those polled in India said they will pay for transaction notifications coming through social networking sites like Twitter and Facebook.
Other areas where they are ready to pay include spending analysis tools, relevant third-party offers and storing documents in a virtual vault, among others.
Stating that the needs of the generation Y are different and that the grouping is very diligent in choosing whom they bank with, the report says, "The quality of a bank's digital offering will become a key determinant for customer stickiness."
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