New Delhi: Boeing Co. expects India to buy as many as 1001 aircraft over the next 20 years, a jump of 90 aircraft from the projections made last year. The new estimates were released in the capital on Tuesday as part of the aircraft annual outlook for 2008. These thousand aircraft, this estimate predicts, may include 59 regional, 728 single-aisle, 203 twin aisle and 11 Boeing 747-sized or larger planes. “Boeing’s market outlook is rooted not only in these near-term realities but also recognizes the nature of a long term forecast,” said Dinesh Keskar, senior vice-president (sales).
RBI tells banks to put on hold mobile payments
Mumbai:The Reserve Bank of India on Tuesday asked banks to keep on hold their mobile payment services till the banking regulator finalizes guidelines on such payments. With the rapid growth in the number of mobile phone subscribers in India, banks have been exploring the feasibility of using mobile phones as an alternative channel of delivery of banking services. The central notification said: “While RBI has no objection for use of mobile channel to provide basic services such as mobile alerts for credit or debit entry, balance enquiry etc. which are in the nature of providing information, due care needs to be taken for permitting the channel for customers to initiate payment instructions. There are a number of attendant issues and, therefore, banks are advised to keep on hold their mobile payment services till issuance of the final guidelines.’’ Anita Bhoir
IIT-B director did not tell board he was leaving
New Delhi: Ashok Misra, director of Indian Institute of Technology, Bombay, did not tell the school’s board of governors (BoG) of his plans to resign, and people close to Misra, said he left partly as he was miffed at the government exerting more control over the institutes. Misra, travelling in the US for IIT Bombay’s golden jubilee conference, could not immediately be reached. Several newspapers reported on Tuesday his resignation and his plans to join a Bellevue, Washington, firm called Intellectual Ventures. Father Romuald D’Souza, a member of the board of governors, told Mint, “The resignation was not routed through the BoG”, as is the norm. A fellow IIT director, requesting anonymity, said the problem began with the decision by the government to implement quotas for other backward classes. Pallavi Singh
Trademark row: Bisleri says bottle tampered
New Delhi:The ongoing legal fight between the Tata group’s mineral water company Mount Everest Mineral Water (MEMW) and Bisleri International over the use of ‘Himalaya’ trademark took a new turn on Tuesday with Bisleri alleging the bottle presented by MEMW in the Delhi high court on 21 June for inspection had been tampered with.
MEMW was asked to present evidence for inspection on 21 July in support of their claim that the company used their registered trademark ’Himalaya’ on its mineral water bottles.
“They (MEMW) were trying to show a sample bottle which was actually not manufactured by us. It (the bottle) had another label put on the top of the original one. It apparently had ‘from the Himalayas’ written in a larger font,” said Bisleri chairman Ramesh Chauhan.
MEMW had sued Bisleri in June this year alleging the Himalayan brand is the registered trademark of Mount Everest and that Bisleri was using the goodwill created by Mount Everest for the name Himalayan. Staff Writer
India not to ban overseas investments in ports: Sarma
New Delhi: Bangalore: India has no plans to ban any overseas investments in port projects, Indian shipping secretary A.P.V.N. Sarma said. ‘The Economic Times’ had reported on its front page on Monday that India has decided to bar companies from Dubai, Hong Kong, China and Pakistan from investing in its port projects, without saying where it got the information.
“As of now, we have no plan to impose any blanket ban on investments from a particular country,” Sarma told Bloomberg on Tuesday.
Meanwhile, since 1997, when India opened up port projects to private investments, private port operators from China, Hong Kong and Pakistan had already been banned from participating in the bidding process on national security grounds.
Accordingly, the world’s biggest container port operator, Hutchison Port Holdings owned by millionaire Li-Ka-shing has been barred from bidding for Indian port projects. So has another operator, Evergreen Marine Corp. (Taiwan) Ltd because of its alleged links with mainland Chinese authorities.
DP World, the world’s fourth biggest container port operator and owned by the Dubai government, has five terminals in India where it has invested close to $1.5 billion (Rs6,405 crore).
It is investing another $500 million to develop and operate two more facilities at Vallarpadam in Cochin port and at Kullpi port in Bengal.
DP World and PSA International, owned by Singapore government’s investment arm Temasek Hodings Pte Ltd, have previously been excluded from bidding for a new container facility at Union government-owned Ennore port because of a government policy to restrict the shortlist to just six entities for a single port project. This has now been challenged by PSA in the Chennai high court on the grounds that the policy is “flawed and arbitrary”.
The Union home ministry had also earlier denied permission to two Chinese companies (Kaidi Electric Power Co. and China Harbour Engineering Co. Ltd), along with local firm Zoom Developers Pvt. Ltd, to develop and operate a Rs5,340 crore terminal at Vizhinjam port near Thiruvananthapuram after the consortium won the bidding process. The Kerala government re-tendered the project and Lanco Infratech Ltd and its Malaysian partner Pembinaan Redzai Sdn Bhd won the bid. The government estimates Rs55,401 crore would be required to raise cargo-handling facilities at the 12 ports to 1,016mt by 2012 from 519mt today. Kartik Goyal
(P. Manoj of Mint contributed to this story.)
UK prosecution ended by court: Ranbaxy
New Delhi: The prosecution by the UK’s serious fraud office, or SFO, against a subsidiary of Ranbaxy Laboratories Ltd has been quashed by the English crown court, the Gurgaon-based drug maker said in a statement on Tuesday. “The Court also declined an application by the SFO for permission to appeal to the English Court of Appeal,” the release said.
Ranbaxy (UK) Ltd had been implicated in 2006 by the SFO in an anti-trust case of cartelization and overpricing of penincillin-based antibiotics to its national health services during 1996 and 2000.
Ranbaxy’s shares gained a little more than 1% to close at Rs462.90 per share on Bombay Stock Exchange on Tuesday, moving almost in line with the benchmark Sensex index, which rose 1.84%. Bhuma Shrivastava