Industries Ltd (Nocil) on Tuesday reiterated that no deal has been finalised with any party for implementing modernisation or expansion programme of the company. Nocil reproduced its chairman Arvind N Mafatlal's statement made at the annual general meeting on March 21 last, which had informed shareholders that though negotiations were progressing with prospective parties for modernisation and expansion programme, to date no deal has been finalised with any party.

Nuclear tests may hit garment exports

India's exports of ready-made garments will be adversely hit if the Clinton Administration finally decides to impose trade sanctions against this country for conducting three nuclear tests on Monday. The threat of trade sanctions comes at a time when India's garment exports to the US have started picking up after a period of stagnation.

Manubhai shah re-appointed Bureau of Indian Standards member:

ConsumerEducation and Research Centre managing trustee Manubhai Shah has been re-appointed member of Bureau of Indian Standards for a period of two years. The bureau is a policy-making body under the union ministry of consumer affairs for setting national product standdards.

Promote venture capital to revive market, says CII:

The government should promote venture capital to stimulate the capital market and boost investors confidence, the Confederation of Indian Industry (CII) on Tuesday said. In its pre-budget memorandum to the government, CII called for formulating a policy framework for venture capital, which is a major economic stimulant in the developed countries, to create an environment for the industry to raise funds in the country.

Rajasthan ties up private investors for road construction:

The Rajasthan government has entered into a tripartite agreement with private investors and financial institutions for construction of highways, over-bridges and bypass roads to the tune of Rs 95crore, state PWD minister Lalit Kishore Chaturvedi said on Tuesday. "Under the agreement, based on the concept of BOT (built, operate and transport) system, private investors, who received the contract, will be given a free hand to complete it in the next nine years," chaturvedi said.

Accommodation industry seeks recognition:

Drawing inspiration from the film industry, the accommodation industry, mired in problems of extortion and the mafia, on Tuesday sought industry status from the finance minister. Lack of recognition has forced builders and developers of major housing and commercial premises to borrow at exorbitant commercial interest rates of 2 to 3 per cent a month and in some cases even 5 per cent, the Federation of Accommodation Industry of India (FAAI) said in a letter to finance minister Yashwant Sinha.

Nasscom urges introduction of cyberlaws:

The National Association of Software and Service Companies (Nasscom) on Tuesday urged the government to introduce cyberlaws in thecountry to take full advantage of electronic commerce and to become a global player in the information technology. "It is extremely important for the country to introduce cyberlaws, which could comprehensively deal with convergence of technologies, growing use of the Internet and introduction of electronic commerce, especially electronic-fund transfer in the country," Nasscom executive director Dewang Mehta said.

National policy on data dissemination on the anvil:

The government will soon come out with a national policy on data dissemination and freedom of information act, the state minister for planning and programme implementation ram naik said here on Tuesday. "We stand for an open society and I hope these measures, which are at the legislation stage, would become a reality very soon,+ Naik said, addressing the National Advisory Board on Statistics.

Research centre for material tests in Nasik:

Nasik will soon have a modern Rs 5-crore research centre to test the quality of cement,steel and other materials required for construction of buildings. Shashi Jadhav, chairman of the "Buildmat-98" exhibition, to be held from May 14 to May 24, said the centre would enable the common man to test the quality of materials used for building and to identify materials of substandard quality.

US software major donates software:

Parametric Technology Corporation (PTC), the US-based CAD/CAM/CAE software major, has decided to donate software worth one crore rupees to the Indian Institute of Technology (IIT), Madras. According to the company, the software, the latest version of its best-selling Pro/Engineer series, will be used by IIT Madras in setting up an instructional CAD laboratory. PTC had earlier donated software worth Rs 3.5 crore to IIT Kanpur to set up a CAD/CAM lab and in March this year.

Central Warehousing in pact with centre:

Central Warehousing Corporation (CWC) has signed a memorandum of understanding (MoU) with the union government for 1998-99. The MoU was signedbetween UG Anthony MD, CWC and R S Mathur, secretary, food and consumer affairs. Anthony stated that CWC was signing MoUs since 1987-88. Its performance, as per MoU parametres, has been rated excellent since 1993-94. The corporation is committed to achieving a record gross profit margin of Rs 108 crore for the current year.