Apex court dismisses Incablenet petition: The supreme court on Tuesday dismissed the petition of the Hinduja group's Incablenet against Zee Television on the signal interception case. Two Hinduja group companies which operate the Incablenet and CVO Cable channels had been intercepting the signals of Zee TV. The advertisements of Zee were being blocked and the two Hinduja-owned channels were inserting their own advertisements instead. Zee had filed a case against the two Hinduja companies at the Bombay high court which had passed orders restraining the Hindujas from blocking the advertisements of Zee TV. The Hindujas had appealed against the order to a division bench of the Bombay high court which had also upheld the orders of the single judge bench.HMT centre bags award: HMT's HMC 400E horizontal machining centre has bagged the FIE foundation award at Imtex-98. This cost-effective machining centre is available in both horizontal and vertical types. The machine was designed and manufactured atmachine tool division, Pinjore, Punjab. The FIE award is given for best quality, design and aesthetic appearance of the product.
20th Century Finance revises rates: 20th Century Finance Corporation Ltd (TCFC) is revising the interest rates on its Vishwas Fixed Deposit (FD) Scheme with effect from Wednesday. Recently, ICRA had reaffirmed the company's MAAA rating for its fixed deposit schemes. The rating provides with the highest level of safety and security.In Vishwas money doubler scheme (cumulative deposits for 58 months), the interest will be compounded 14.45 per cent per annum as a result of which the money will get doubled in 58 months. In case of cumulative schemes, other than Vishwas scheme, interest would be compounded monthly 13 per cent, 13.25 per cent, 13.5 per cent and 14 per cent per annum for 12, 18, 25 and 36 month deposits respectively. For the monthly income scheme, the revised interest would be 13 per cent, 13.5 per cent, and 14 per cent for a 12, 25 and 36-month deposit periodrespectively.
Braun shaver: Braun, the world's leading manufacturer of foil shavers for men, has recently launched its battery-operated shaver -- The Braun Pocket Twist Plus in India. The product is priced at Rs 995. Braun is a world leader in the small electrical appliances industry, with a range of over 350 products which include female hair removal appliances, men's electric shavers, hair care appliances, oral care appliances, infra-red thermometers, kitchen appliances and clocks.
Digital Equipment: Digital Equipment Corporation has announced Wave 3 of its worldwide AllConnect for UNIX programme with a comprehensive portfolio of new and enhanced UNIX/Windows NT integration suits, services and products which dramatically reduce the risk and increase the return of bringing Windows NT into multivendor UNIX environments. As part of AllConnet for UNIX Wave 3, Digital is offering a set of easy to deploy integration suites which include software and services-based solutions to help customersintegrate and support UNIX/Windows NT solutions in global enterprises.
Catalytic-convertor plant to go on stream: India's first catalytic convertor plant, coming up at Maraimalai Nagar, near Chennai, is set to go onstream in September, 1998. Engelhard Environmental Systems (India) Ltd, (EESIL) a 70:30 joint venture between the $3.2 billion Engelhard Corporation and the Chennai-based Ucal Fuel Systems Ltd has already commenced work on the project. This is Engelhard's second major project in the country. The US-based Fortune 500 company will invest $10 million in the first phase of its investment planed in India.
ICI India to unveil awareness plan: ICI India, a subsidiary of ICI Plc of UK, will launch a major environment awareness campaign involving its major businesses -- paints, polyurethanes and explosives. This would also help the company to build on its market share. The programme will be utilised for the twin objectives of energy conservation and environment protection. In decorativepaints, the company will educate the customer at the retail end, through advertising that these paints are totally free from harmful substances such as lead, chromium and mercury. Decorative paints comprise around eighty per cent of the total paints market.
CDC may swing around $300m portfolio: Commonwealth Development Corporation (CDC) is in the process of swinging around its entire $300 million portfolio around from predominantly straight loans to an overwhelming proportion of private equity. Representative of CDC's South Asia Fund, Donald Peck, said in the past, when development banking imperatives dominated the institution's major aims, as much as 75 per cent of CDC's portfolio was accounted for by straight loans, whereas over the last three years, the general policy direction has been to invest in high-risk equity.
Tatas to shift global operations management: The Tata group has decided to gradually shift the management of overseas facilities of different group companies to TataInternational, formerly Tata Exports, which is the international trading arm of the group. Several group companies have extensive international operations in the form of turnkey projects, manufacturing facilities via JVs, hotels and others, and the management of these facilities will be transferred to Tata International for a fee.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
