CPSEs to invest Rs. 176398 crore in 2012-13

17 Central Public Sector Enterprises (CPSEs) have projected an investment of Rs. 176398 crore during 2012-13 in domestic sector and in overseas assets. These investments are likely to have a positive impact on the financial performance of the CPSEs in the long run. 

 As per extant guidelines, profit making CPSEs are required to declare a minimum dividend on equity of 20% or a minimum dividend pay-out of 20% of post tax profits, whichever is higher. The minimum dividend pay-out in respect of Oil, Petroleum, Chemical and Infrastructure Sector should be 30% of the post tax profits. Dividend received by the Government from CPSEs forms part of non-tax revenue receipts of the Government and thus contributes towards reducing the fiscal deficit. 

 The above information was given by the Minister for Heavy Industries & Public Enterprises Shri Praful Patel in a written reply in the Lok Sabha today.

Index of Eight Core Industries (Base: 2004-05=100), February 2012

The   Eight core industries have a combined weight of 37.90 per cent in the Index of Industrial Production (IIP).  The combined Index was 145.6 in February 2012 with a growth rate of 6.8% compared to their 6.4% Growth in February 2011.  During April-February 2011-12, the cumulative growth rate of the Core industries was 4.4 % as against their growth at 5.8% during the corresponding period in 2010-11.

Coal

Coal production (weight: 4.38%) registered a growth of 17.8% in February 2012 compared to its growth at (-) 5.8% in February 2011. However, in cumulative terms Coal production had a growth of 0.4% during April-February 2011-12 compared to its growth at (-) 0.1% during the same period of 2010-11.  

Crude Oil

Crude Oil production (weight: 5.22%) registered a growth of 0.4% in February 2012 compared to its growth at 12.2% in February 2011. Cumulatively Crude Oil production registered a growth of 1.4% during April-February 2011-12 compared to its growth at 11.9% during the same period of 2010-11. 

Natural Gas

Natural Gas production (weight: 1.71%) registered a growth of (-) 7.6% in February 2012 compared to its growth at (-) 7.3% in February 2011. Natural Gas production registered a cumulative growth of (-) 8.8% during April-February 2011-12 compared to its growth at 12.3% during the same period of 2010-11.

Petroleum Refinery Products (0.93% of Crude Throughput)*

Petroleum refinery production (weight: 5.94%) had a growth of 6.2% in February 2012 compared to its growth at 3.2% in February 2011.  In cumulative terms Petroleum refinery production registered a growth of 3.4% during April-February 2011-12 compared to its 2.5% growth during the same period of 2010-11.

Fertilizers

Fertilizer production (weight: 1.25%) registered a growth of 4.1% in February 2012 against its growth at 4.8% in February 2011. Cumulatively Fertilizer production had a growth of 0.3% during April-February 2011-12 corresponding to (-) 0.3% growth during the same period of 2010-11.

 Steel (Alloy + Non-Alloy) 

Steel production (weight: 6.68%) had a growth rate of 4.3% in February 2012 against its 18.5% growth in February 2011. Cumulatively Steel production had a 6.8% growth during April-February 2011-12 compared to its   9.2% growth during the same period of 2010-11.

Cement

Cement production (weight: 2.41%) registered a growth of 10.8% in February 2012 against its 6.5% growth in February 2011. The cumulative growth of Cement Production was 6.4% during April-February 2011-12 compared to its   4.3% growth during the same period of 2010-11.

Electricity

Electricity generation (weight: 10.32%) had a 8.0% growth in February 2012 compared to its 7.2% growth in February 2011. Electricity generation on the other hand had a cumulative growth of 8.6% during April-February 2011-12 as against its 5.4% growth during the same period of 2010-11.

* RPL (SEZ) with refining capacity 29MMT was commissioned on 25.12.2008 but crude throughput not reported by the refinery and not included in production for entire period.

 N.B: Data are provisional. Revision has been made based on revised data obtained.

Fourth BRICS Summit: PM’s Statement to the Media

Following is the statement of the Prime Minister Dr. Manmohan Singh to the media at the conclusion of the fourth BRICS Summit in New Delhi: 

 “India is delighted to host the Fourth BRICS Summit in New Delhi and assume the Chairmanship of the group. I would like to convey my profound gratitude to my colleagues, the Presidents of Brazil, Russia, China and South Africa, for accepting my invitation to attend this Summit. I wish them and members of their delegations a very pleasant stay in our country. 

 We have just concluded very enriching and fruitful discussions on issues related to global governance and sustainable development. We reviewed the global economic situation. We discussed ways to finance and promote sustainable development and address the challenges of energy and food security. 

 We had an in-depth discussion on the situation in West Asia. We agreed that a lasting solution to the problems in Syria and Iran can only be found through dialogue. We agreed that the international community should stay engaged in Afghanistan. 

 We have agreed on an intensive programme of consultation and coordination on areas of priority over the coming year. This is reflected in the Action Plan of the Delhi Declaration. 

 Going forward, we will examine the recommendations of the just released BRICS Report, which identifies focus areas for structured cooperation where synergies among the BRICS economies can be harnessed to our common advantage. 

 We are developing the institutional structures for building these relationships. The agreement signed today by development banks of BRICS countries will boost trade among us by offering credit in our local currencies. 

 A suggestion has been made to set up a BRICS Development Bank. We have directed our Finance Ministers to examine the proposal and report back at the next Summit. 

 We agreed to strengthen intra-BRICS trade and investment linkages. Our Trade Ministers met with the business communities at the Business Forum yesterday. 

 The world is passing through uncertain times. The rapid recovery of the BRICS economies from the financial crisis highlighted their role as growth drivers of the global economy. Our cooperation is intended to explore meaningful partnerships for common development, address global challenges together and contribute to furthering world peace, stability and security. 

 I look forward to working with my colleagues to further these common goals.”

Commerce Secretary at Infrastructure Round Table in India

U.S. Department of Commerce

Commerce Secretary John Bryson

March 27, 2012

Remarks at Growth in Emerging Metropolitan Sectors (GEMS) and Infrastructure Roundtable in New Delhi, India

As Prepared For Delivery

Thank you to our hosts, the Indo-American Chamber of Commerce, for arranging this valuable discussion. You do critical work to foster partnerships and success among both U.S. and Indian businesses.

I'd also like to recognize Amitabh Kant, president of the Delhi-Mumbai Industrial Corridor project. The 16 U.S. businesses with me today are eager to hear about the DMIC project plans. I understand that two of them are already involved - Jacobs Engineering and CH2MHill.

Tomorrow, I look forward to visiting Jaipur as well as Mahindra World City, which is a key part of that project.

Finally, it's a distinct honor to be with senior government representatives from the states along this emerging growth corridor. Thank you for allowing us to explore-together-the infrastructure opportunities that will bring growth and prosperity.

I have only been here for 2 days, but what is already clear to me is that India's strength-like the U.S.-lies in the diversity of its regions and its people.

I have a strong personal connection to that principle. I work in Washington, but I call the Los Angeles area my home. Those two cities could not be more different-in climate, in culture, and in the business sectors themselves.

The different regions of our respective countries have unique perspectives, unique needs, and unique plans for their future.

President Obama has called the U.S.-India relationship one of the defining partnerships of the 21st century. I agree.

Today, I believe we have reached a point where we must deepen and broaden that partnership to be more inclusive.

So one of our most important goals this week is to gain a better understanding of the full commercial potential of India's many regions.

That's why my delegation will fly to Jaipur tonight. I want to see the potential of the DMIC project for myself.

Jaipur-and many other cities in India- re growing at a pace that is unmatched. Projects like the new metro system, which I will experience first-hand later today, are proof of the bright future in store for those cities and their people.

On a broader level, it is exciting to see India's trillion-dollar commitment to infrastructure over the next 5 years. This plan is both ambitious and admirable. It includes as many as 600 major projects, including a strong emphasis on public-private partnerships.

American businesses want to play a role in helping to turn this plan into a reality. The U.S. government fully supports their efforts to build partnerships that are mutually beneficial to both of our countries.

Already, India is a key market in the U.S. National Export Initiative which President Obama launched in 2010. In 2001, U.S. exports to India were less than $4 billion. In 2011, they had grown to over $21 billion.

The Department of Commerce has already conducted about 15 trade missions here in India-ranging from clean technology, to healthcare equipment, to ports infrastructure.

In addition, we launched the Growth in Emerging Metropolitan Sectors initiative-GEMS. Through this effort, we looked for cities around the world that were poised for growth.

The facts quickly became clear: In 20 years, 68 cities in India will have populations of over one million people each. Total yearly income of urban households in India is expected to reach $4 trillion in 2030.

So, India's emerging regions and cities are now at the top of the list for our GEMS initiative.

We are strongly encouraging businesses across the U.S. to consider the full spectrum of opportunities and partnerships throughout India - not just in India's four metros.

Our goal is to work with leaders like you to bring more prosperity to the world's largest democracy-and to build on the strong growth in the overall U.S.-India trade and investment relationship.

If our businesses and governments at all levels work closely together, we can help support India's path toward inclusive growth for all of its people.

I am optimistic that we will succeed, and my commitment to you is this.

I will continue to spread the word that India's success and India's future are not solely defined by Delhi or Mumbai alone, just like America's success and America's future are not defined by New York, Washington, or even my home city of Los Angeles.

I would like to thank everyone for taking time out of their busy schedules to be here this afternoon and I look forward to Mr. Kant's presentation and our discussion.

(Distributed by the Bureau of International Information Programs, U.S. Department of State.)

Alpina launches an exciting iPad App

"The extensive galleries of work in the ateliers provide a unique insight in how Alpina timepieces are manufactured at its facilities in Plan-les-Ouates, Geneva.", said Peter Stas, Co-Founder and CEO of Alpina Watch International SA.

The iPad App consists of a company profile on our Heritage, our values, and how we want to "Revive Alpina to its former glory as a worldwide watch brand". The Alpina Collection can be cross-referenced by specification, collection and images. Within the Collection segment we have also included an extensive gallery with beautiful high-resolution images. Latest news and events can be discovered, again through an extensive gallery. Lastly, various movies show the manufacturing process.

The Alpina iPad App is an important addition to the website, as it incorporates features unique to the Apple iPad Platform. We encourage you to download this exciting App and learn more about Alpina.

CIBJO President addresses United Nations-private sector gathering,

calls for collaboration between UN agencies and jewellery industry

VIENNA, AUSTRIA: March 28, 2012 - CIBJO President Gaetano Cavalieri has addressed the United Nations' Private Sector Focal Points Meeting, which is being held today and tomorrow in Vienna, Austria. In his presentation, he expressed the commitment of the world jewellery industry to working together with the international body and its agencies, with the objective of advancing the UN Millennium Development Goals.

Being co-hosted by the UN Global Compact, the Food and Agriculture Organisation, the United Nations Children's Fund, the United Nations Industrial Development Organisation and the United Nations Office on Drugs and Crime, the Private Sector Focal Points Meeting is meant to enhance collaboration between the United Nations and the private sector, creating what the UN refers to as "transformational relationships" that advance humanitarian and development objectives. With senior UN officials in attendance, the meeting is being attended by a large number of executives from major business corporations from across the globe. Dr. Cavalieri is representing the jewellery sector.

In his presentation, Dr. Cavalieri stressed the specific nature of the jewellery business, emphasizing the long chain of distribution and the fact that it is made up predominantly by smaller companies. From mining to retail, he said the jewellery sector employs 15 to 20 million workers, with more than 90 percent of them employed by micro- and small and medium-sized enterprises (SMEs).

To successfully engage the jewellery sector in its development programme, Dr. Cavalieri said, United Nations bodies need to create institutional partnerships with umbrella organisations like CIBJO, which counts among its members national associations from more than 40 countries, and which has been formally associated with the United Nations since 2006. This will enable the creation of collaborative projects at the local level, he stated.

Dr. Cavalieri was joined at the Private Sector Focal Points Meeting by Jocelyn Fenard, a Senior Specialist in CSR and sustainability with the United Nations Institute of Training and Research (UNITAR), who today is also General Manager of Antwerp-ITCCO (International Training Centre for Corporate Opportunities). Antwerp-ITCCO was created by UNITAR to advance CSR education in the international jewellery sector, and CIBJO played a key role in its establishment.

"The jewellery sector is firmly committed to doing the right thing, and in our case it involves assisting our stakeholders and the communities in which they live to meet their development needs," Dr. Cavalieri said. "We face a series of challenges that are specific to our business, not only because of the nature of the product that we deal with, but also because of our structure. With that in mind, we are keen to work closely with the United Nations in developing methods and programmes that will lead to the fruition of the Millennium Development Goals."

Rio Tinto receives binding offer for its specialty aluminas business

Rio Tinto has received a binding offer for its specialty aluminas business from H.I.G. A period of exclusivity has been agreed to with H.I.G. and Rio Tinto will respond to the binding offer following consultation with the relevant European works councils. The terms of the binding offer are confidential.

Guy Elliott, chief financial officer of Rio Tinto said, "The potential sale is in line with our strategy of continuing to streamline our aluminium group through the divestment of non-core assets."

The specialty aluminas business is the largest integrated supplier of non-metallurgical grade aluminas with 4 production sites: Gardanne, La Bâthie, Beyrède in France, and Teutschenthal in Germany. It employs 730 people.


About Rio Tinto

Rio Tinto is a leading international mining group headquartered in the UK, combining Rio Tinto plc, a London and New York Stock Exchange listed company, and Rio Tinto Limited, which is listed on the Australian Securities Exchange.

Rio Tinto's business is finding, mining, and processing mineral resources. Major products are aluminium, copper, diamonds, thermal and metallurgical coal, uranium, gold, industrial minerals (borax, titanium dioxide and salt) and iron ore. Activities span the world and are strongly represented in Australia and North America with significant businesses in Asia, Europe, Africa and South America.