RESCUE STATUS AT 10 a.m. AIRCRAFT ACCIDENT AT MANGALORE AIRPORT
  
Following status has been received from Chairman, Airport Authorities of India on the Aircraft accident at Mangalore Airport today

“Date : 22nd May, 2010

Time : 0605 IST 

Aircraft Details : Air India Express Flight No. 812

Type : Boeing 737-800

Registration : VT-AXV

From/To : Dubai to Mangalore

Total Persons on Board : 166 (137 adults, 19 children, 4 infants and 6 crew)

Weather Conditions : Visibility 6 Kms., Wind Calm, No rain at the time of incident.

Details : The aircraft was following ILS Approach for landing runway 24 and the pilot reported to ATC that it is established on ILS approach at about 10 miles from touch down. Landing clearance was given at about 4 miles from touch down. Aircraft touched down the runway 24 slightly beyond the touch down zone, overshot the runway and went in the valley beyond the runway.

The Mangalore airport is a licensed airport and the length of runway 24 is 2450 metres (approx. 8000 feet) and the runway has a Runway end safety area of 90 metres. This runway was commissioned in 2006 and remained operational since then. ILS was operating normal. No problem was reported by pilot.

The Airports Authority of India has established control rooms at Chennai - tel. no. 044-2256 1365 & 2256 0894, Mangalore - tel. no. 0824-2220422 and Delhi – tel. no. 011-2461 0848/2461 0843.

Rescue status at 1000 Hrs
25 charred bodies recovered, 
1 discharged from Hospital, 
2 minor injuries, 
3 seriously injured.”

Wholesale Price Indices for Primary Articles and Fuel, Power, Light & Lubricants in India (Base: 1993-94=100) Review for the week ended 8th May, 2010 (18 Vaisakha, 1932 Saka)
  



The WPI for the week ended 8th May, 2010 in respect of ‘Primary Articles’ and ‘Fuel, Power, Light & Lubricants’ is given below:



PRIMARY ARTICLES (Weight 22.02%)

The index for this major group declined by 0.1 percent to 299.2 (Provisional) from 299.5 (Provisional) for the previous week.



The annual rate of inflation, calculated on point to point basis, stood at 16.19 percent (Provisional) for the week ended 08/05/2010 over (09/05/2009) as compared to 16.76 percent (Provisional) for the previous week (ended 01/05/2010) and 6.67 percent during the corresponding week (ended 09/05/2009) of the previous year.



The groups and items for which the index showed variations during the week are as follows:-



The index for 'Food Articles' group declined marginally to 293.9 (Provisional) from 294.0 (Provisional) for the previous week due to lower prices of wheat (2%) and fish-inland, maize and gram (1% each). However, the prices of urad and moong (2% each) and fruits & vegetables and tea (1% each) moved up.



The index for 'Non-Food Articles' group declined by 0.4 percent to 282.1 (Provisional) from 283.1 (Provisional) for the previous week due to lower prices of raw rubber (7%), linseed (2%) and castor seed (1%). However, the prices of raw jute (2%) moved up.



FUEL, POWER, LIGHT & LUBRICANTS (Weight 14.23%)

The index for this major group has remained unchanged at its previous week’s level of 365.3 (Provisional). The annual rate of inflation, calculated on point to point basis, has also remained unchanged at its previous week’s level of 12.33 percent (Provisional).

ThyssenKrupp strengthens materials services in Central and Eastern Europe

Flame cutting specialist Techno-Stahl in Austria acquired

With effect from April 30, 2010 the ThyssenKrupp Group has bought all shares of Techno-Stahl Stahlgroßhandel und Brennschneidbetrieb GmbH, Vienna (Austria). The new acquisition is a flame cutting company with great technical expertise in the area of processed flat products. Its core business is the production of sheet metal and slab blanks by thermal cutting. It has been agreed that the purchase price will not be disclosed.

Techno-Stahl processes both standard and specialty materials. The company (2009 sales: €17.4 million/76 employees) will be assigned to the Materials Services business area under the management of ThyssenKrupp Materials Austria GmbH, Vienna. The seller is managing partner Edward Ferszt, who will stay with the company in the interests of continuity and safeguarding know-how.

Techno-Stahl operates mainly in Central and Eastern Europe, where it intends to grow further: The company currently serves customers in Austria, Germany, Switzerland, the Czech Republic, Slovakia, Slovenia, Hungary and Poland. Techno-Stahl will benefit in the future from the sales and procurement networks of the Materials Services business area.

The acquisition is subject to approval by the Austrian antitrust authorities.

With 500 locations in 40 countries, the Materials Services business area specializes in materials distribution, logistics and services, the provision of technical services as well as services for industrial plants and steel mills. In addition to rolled steel, stainless steel, tubes and pipes, nonferrous metals, specialty materials and plastics, Materials Services also offers services from processing and logistics to warehouse and inventory management through to supply chain and project management.

Steel Minister asks Indian Steel and Mining Companies to look for Overseas Opportunities
  
The Union Minister of Steel, Shri Virbhadra Singh has asked Indian Steel and Mining Companies to look for overseas opportunities seriously. He said “it is the time for Indian steel and mining companies, whether they are in the public or private sector, will have to look for overseas opportunities seriously”. Addressing a Conference on “Challenges for Indian Steel Industry in Infrastructure and Resources” here today, he said that however, one would also have to take cognizance of the changing national policies in respect of investment in overseas mineral assets. He said, the recent proposal of the Australian Government to levy a 40 per cent resource tax is a case in point. Therefore, it makes strong sense to also remain focused on exploiting all the available internal resources and make best use of them with adoption of appropriate technology in iron and steel making, he said.

Shri Virbhadra Singh said that as far as iron ore is concerned, the Government has taken policy measures to discourage avoidable exports and consequently raise domestic availability by increasing export duty on lump ores to 15 per cent having a 5 per cent duty on fines. Although it will have some marginal impact on the export, the Government will have to look at the question of exports differently by bringing in definitive deterrence. This may be in the form of either prohibitive duty or quantitative restrictions. But, such measures can be brought in only in a phased manner with a clear long term plan.

The Minister said, the other major challenge for the Indian steel and mining industries is the inadequate development of supportive infrastructure. The problem looks more serious in the areas with greater mining potential. He said, the Government has launched infrastructure development plans in unprecedented scale in areas such as power, road, ports, railways, communication and human resource development. However, whether it is a sole Government project or one in the PPP model, progress in implementation is being hit by difficulties in land acquisition, extremist violence and skill shortage. He said, “I am sure, the conditions will change in the course of time to allow for completion of the projects in hand”.

Shri Virbhadra Singh informed that while the Government is doing its bit, a large responsibility lies with the industry and the industry associations. It is the synergy between what the Government does and how the private sector or the industry responds to it that will determine the success of all our efforts, the Minister added.

Delivering the keynote address the Secretary, Ministry of Steel, Shri Atul Chaturvedi, pointed out that the Joint Plant Committee (JPC) of the Steel Ministry has undertake a massive exercise of mapping out the infrastructure requirements of the steel companies in terms of augmentation of new railway line and development of highways. He urged FICCI to commission a study for taking the JPC report forward with specific projects that need to be undertaken so that these could be taken up with the ministries concerned and the appropriate authorities.

As regards forest and environment clearances for steel projects, Shri Chaturvedi said that the Ministry of Environment & Forests has been very cooperative in addressing the issues. He urged companies come up with specific issues so that these could be put on the fast track for clearance. While land acquisition for steel projects continues to pose a major challenge, the Steel Secretary asked industry players to consider using the large land mass that is currently available with the closed units. “I have asked the Ministry of Heavy Industry to map out such land masses and put the information on their website for the benefit of the prospective investor. I hope FICCI will coordinate with the Ministry of Heavy Industry to take the process forward,’’ he said.

The Conference was jointly organized by the Federation of Indian Chambers of Commerce & Industry and Ministry of Mines.

REC Net Profit Grows by 57%
  
Rural Electrification Corporation (REC), a Navratna Public Sector Company brought out its Annual Audited financial results for the year ended 31st March 2010. Net profit of the Company recorded a growth of 57.33%, rising from previous year’s figure of Rs.1272.08 crore to Rs.2001.42 crore, while the gross profit of the Corporation grew from Rs.1920.11 crore to Rs.2649.19 crore. Keeping the trend with other indicators, income of the company increased from Rs.4757.17 crore to Rs.6549.76 crore registering an increase of 37.68 crore. The Company has paid interim dividend of Rs.3.00 for each share of Rs.10 in the month of January, 2010 for the year 2009-10. The Board of Directors, REC has further recommended final dividend of Rs.3.50 per share for the year 2009-10, thus, the total dividend will be Rs.6.50 per share. Net NPAs of the company declined from Rs.20.89 crore in the previous year to Rs.2.00 crore for the financial year 2010.

Average yield on Loan assets at the end of 31st March 2010 was 11.23% as against 10.45% at the end of March 2009. During the period, Corporation has also accounted for 1% agency charges for RGGVY implementation of Rs.58.52 crore (net of service tax).

Enabling Trade Paves The Way to Recovery from Global Economic Crisis

• Singapore and Hong Kong SAR are the most open economies to international trade in 2010
• Vietnam gains 18 positions among 125 countries in The Global Enabling Trade Report 2010
• Turkey, India and Russia drop in the rankings
• Report highlights, summary, country profiles, quotes and more on the World Economic Forum's website

Geneva, Switzerland, 19 May 2010 – East Asian economies – Singapore and Hong Kong SAR – continue to occupy the top two positions in the Enabling Trade Index ranking, followed by Denmark, Sweden and Switzerland, according to The Global Enabling Trade Report 2010, released today by the World Economic Forum. New Zealand moves by five ranks to 5th place. Norway, Canada, Luxembourg and the Netherlands complete the top-10 list. Iceland enters the ranking for the first time at 11th position, and Finland drops out of the top 10 to 12th place.

The e-waste industry in India: CSE exposes what lies beneath

• India generates about 350,000 tonnes of electronic waste every year and imports another 50,000 tonnes

• Unorganized sector recycles more than 90 per cent of this e-waste – instead of organizing this sector, government chooses to ignore it

• Frames draft regulations which allow only registered, big-investment companies to recycle e-waste

• Gives first and only licence to import e-waste to Attero Recycling -- undercover investigations by CSE find Attero reselling e-waste, instead of recycling it

• CSE warns new draft regulations might be ineffective in controlling illegal trade in e-waste

• CSE report uncovers the grimy details of the illegal trade, horrific working conditions, and huge pollution in the industry

New Delhi, May 18, 2010: It is a well known fact that India produces as well as imports thousands of tonnes of electronic waste every year. Almost all of this waste is recycled or scrapped by the unorganized sector, using the most rudimentary methods that pollute.

What may not be so well known is that the government’s new draft e-waste rules, announced in April this year, refuse to recognize and help organize this key sector. Instead, the ministry of environment and forests has chosen to grant its first and only licence to import e-waste to a company called Attero Recycling. And undercover investigations done by researchers from Centre for Science and Environment (CSE) have found Attero reselling e-waste, instead of recycling it.

Down To Earth, a science and environment fortnightly that CSE helps publish, has come out with a complete expose of the e-waste industry, the illegal trade that thrives in this sector, the horrific working conditions, and the immense pollution that results from all of these.

Regulations which may not achieve much

The investigations by CSE spanned the main e-waste dismantling and recycling hub in India – from Seelampur in Delhi to Moradabad in Uttar Pradesh. More than 90 per cent of the e-waste generated in the country lands up in the unorganized market, reports CSE.

The government, says the CSE report, assumes it will be able to regulate the informal

sector through its proposed rules on e-waste, which allow only registered companies

with updated and safe technologies to recycle e-waste. This leaves in the

lurch an overwhelming majority of the existing e-waste recycling industry.

India generated 330,000 tonnes of e-waste in 2007 – equal to 110 million laptops. About 10 per cent of the e-waste generated is recycled every year; the remaining is refurbished, and the unorganized sector is right behind almost all of it. Informal dealers refurbish and make money from e-waste. 

The organized e-waste recycling industry, of course, cries foul at these practices. Organized and formal recyclers have welcomed the new e-waste rules. Says Kushal P S Yadav, head of CSE’s toxins and solid waste unit, “However, CSE’s undercover forays into the business dealings of Attero Recycling have exposed the double-talk – a company favored by the government is not doing what it claims to specialize in.”

According to CSE, the government’s new draft rules ignore the reality and are likely to be toothless. It is estimated that illegal import of e-waste in the country stands at about 50,000 tonnes annually. Loopholes in laws facilitate this. For instance, the Foreign Trade (Development and Regulation) Act of 1992 provides for donation of computers to educational and charitable institutions, hospitals, etc.

The government’s new draft rules declare such imports for charity illegal – without giving any thought to the other ways through which e-waste is imported, such as under the pretext of metal scrap and second-hand electrical appliances.

The proposed rules, for the first time in India, bring in the concept of extended producer responsibility, making manufacturers liable for safe disposal of electronic goods. However, they do not detail the business model for collection of e-waste from consumers. Neither do they offer any assistance to help the informal sector get organized.

India is a global dump for hazardous waste and e-waste

India wants global waste, and gets what it wants: the CSE analysis looks at the entire hazardous and e-waste import industry. It also reveals how developed countries are using free trade agreements (FTAs) to export their waste to the developing world. Japan and the EU, for instance, are currently negotiating with India and a deal is likely to be signed this year. The commerce ministry has not made public details of about 30 such deals that India is negotiating.

According to CSE, the cause for concern is the part of the draft text of an FTA between the EU and India, which was leaked. This leaked text coins a new name for waste: it says “non-new goods shall be understood to include notably used and remanufactured goods” and that “non-new goods” would not have any restrictions such as import or export tariffs.

Thus, import of waste could be treated just like import of fresh products. This could result in enormous increase in the import of wastes in India, which would severely hamper environmental safeguard measures.

So what is the way out? Says Sunita Narain, director, CSE: “The choice India faces is this – either it becomes a dumping ground for the world’s waste, or regulates the recycling and the trade better so as to import only non-hazardous and recyclable waste.”