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Jet Airways
slashes apex fares Union Bank
becomes one-stop shop RBI norm on
insurance claims
ONGC, Reliance
make it to Global 1000 list Reliance Info
offers broadband solution to media firms |
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Wide variation in
porters’ earnings Exports, trade
deficit rise
Steely growth, whopping
profits for Tisco
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Jet Airways slashes apex fares The airline also announced special point-to-point fares, return excursion fares and innovative promotional fares to Patna and Lucknow. The move from Jet Airways comes two days after its rival Air Sahara also slashed its apex fares by around 30 per cent for metro cities, bringing them on a par with AC II tier railway fares. A week ago, the Indian Airlines also announced an attractive package on non-metro fares. In the point-to-point scheme, the airlines is also offering special packages to travellers from Chandigarh. A Chandigarh-Hyderabad ticket via Delhi is being put on offer for Rs 9,900 and similarly a Chandigarh-Chennai ticket via Delhi will be available for Rs 11,900. The Chandigarh-Kolkata journey via Delhi is being offered at Rs 9,400. Under the new monsoon apex scheme of the Jet Airways, the Delhi-Mumbai one-way economy class ticket will be available for Rs 2,500 as against Rs 3,450 earlier. On the Delhi-Kolkata sector, the ticket can now be bought for Rs 3,000 as against Rs 3,450 earlier. The Delhi-Hyderabad ticket will now be priced at Rs 3,000 (Rs 4,120 earlier) while the Delhi-Bangalore and Delhi-Chennai tickets are now available for Rs 3,500 each as against Rs 4,790 and Rs 3,835, respectively, earlier. The new apex fares will be valid till September 15 and the entire journey against these fares must be completed on or before October 15. The airline also announced special innovative Rs 1,999 one-way promotional fare on the Delhi-Lucknow route. In addition, the airline is also offering free tickets for a companion against a full fare return ticket to the economy class travellers on the Delhi-Patna route. As an inaugural offer on its Delhi-Patna-Delhi flights, which will commence operations on August 16, passengers buying a return economy class ticket at Rs 11,110 for this sector will be allowed to take their companion free of charge. Similarly, on the Delhi-Lucknow-Delhi sectors a special one-way economy class fare of Rs 1,999 has been introduced as against the existing normal economy class fare of Rs 3,790 with effect from July 26. Valid until October 15, passengers already holding normal economy class tickets may get these reissued for this special fare at no extra charge.
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Union Bank becomes one-stop shop Chandigarh, July 22 The schemes launched by the bank in Mumbai include Union Insured Recurring Deposit scheme in association with the Life Insurance Corporation of India, education loans for students of ICFAI University, Hyderabad, for pursuing higher studies, loans for purchase of personal computers under tie-up with HCL Infosystems Limited and education loans for pursuing studies in Optometry under a tie-up with the Aditya Jyoti Institute of Optometry, Mumbai. Mr V. Leeladhar, Chairman and Managing Director of the bank, also announced the launch of two new products — Union e-banking, Internet banking service and Union Mortgage, a loan scheme against mortgage of immovable property.
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RBI norm on insurance claims
Mumbai, July 22 In terms of Regulations 5 and 5A of the FEMA notification, eligible entities in India may open, hold and maintain resident foreign currency (RFC) account and resident foreign currency (domestic) [RFC(D)] account with an authorised dealer out of foreign exchange received by them in respect of transactions specified therein.
— UNI
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ONGC, Reliance make it to Global 1000 list
Mumbai, July 22 For the first time, eight Indian companies have entered the Global 1000 list. The 2004 rankings is a consolidated list of the Global 1000 and the top 200 emerging market companies, which were published separately in the past. Earlier, due to separate listing, most Asian companies did not find a place in the world ranking. However, if one were to merge the Top 200 emerging markets companies list with the global 1000 list, then only three Indian companies would feature consistently over a 5 year period from 2000 onwards. These are Reliance Industries Ltd, Hindustan Lever Ltd and Wipro Ltd. This year ONGC entered the BusinessWeek Global 1000 at the 260th rank (number 1 in India) while RIL was globally ranked at 402 (number 2 in India). Among the eight Indian companies in the global 1000 list, three companies represent public sector undertaking while five companies represent the private sector. Reliance Industries Ltd leads the list of private sector companies while ONGC leads the public sector undertaking.
— UNI
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Reliance Info offers broadband solution to media firms New Delhi, July 22 The solution, called the Digital News Gathering Service (DENG), will reduce the cost substantially and enable the channels to provide real time coverage from virtually all over India. The solution permits audio-video media companies to transfer live and streaming video from locations across the country to their central studios if they are connected to the Reliance Data Network (RDN) or the nearest Reliance Web World site from where it is converted into tapes for use by the news networks in their studios. “The 101 Reliance Webworlds are equipped with special, state-of-the-art encoders, adaptors and other equipments and software for transferring the content directly to the studio, which will be connected to high-speed RDN”, a spokesperson of Reliance Infocomm said. At present, news channels use leased lines, OB vans, FTP via Internet or courier or a combination of all these. “Using DENG will reduce the cost substantially and enable the channels to provide real time coverage from virtually all over India. This is especially true during events such as elections when news-breaks happen simultaneously from all over the country on a regular basis”, the spokesperson said. It is a new service soft launched only a few weeks ago. At present, 15
channels, including CNBC, India TV, Aaj Tak, Zee TV, ETV and Jaya TV, are using it to transfer part of their outstation content to their studios, he said. “We have received enthusiastic response from most of the prominent news channels; many of them would soon start using the facility, especially in their coverage of elections and election results”, he said adding that on an average about 8.5 hours of footage is transmitted everyday and the average number of feeds is about 40 per day. The spokesperson said that Reliance Web World’s play a very “pivotal role in the facilitation of this technology. They are by far the largest network of their kind anywhere in the world”. They can serve as the distribution point for the broadcasters helping them transmit the footage real time. They increase the reach and depth of TV channels substantially without adding to overheads. “The facilities offered in Web World Broadband centres, located on the fibre optic backbone of Reliance network, include VDO chat, multi-locatio video-conferencing, multi-player gaming, virtual office, digital storage, digital movie, digital customised music, e-learning and DENG service”, he said. He projected that in the future, the percentage of broadcast content delivered through this medium would overtake all other media.
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Wide variation in porters’ earnings New Delhi, July 22 A survey, conducted by the Labour Bureau in Delhi, Mumbai, Bangalore, Chennai and Kolkata, found that the majority of railway porters remain available for work for more than 12 hours a day at the railway station. The survey found wide inter and intra-centre variations in their earnings. The earnings of sample porters ranged between Rs 1,700 to Rs 18,500 at Delhi, Rs 1,800 to Rs 9,750 at Bangalore, Rs 2,400 to Rs 10,000 at Mumbai, Rs 1,650 to Rs 9,050 at Chennai and Rs 1,200 to Rs 9,600 at Kolkata.
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Exports, trade deficit rise
New Delhi, July 22 Exports during June 2004 grew by 34.32 per cent at $5.674 billion as against $4.224 billion in June 2003, while imports during the review month stood at $ 7.942 billion, showing an increase of 43.02 per cent.
— PTI
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PNB meeting HDFC rating Centre’s grant Coop societies Tools-down stir NRI City Centre IDBI Bank |
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New Delhi, July 22