All nationalities welcome at Trident: Keswani
Mumbai (PTI): Trident Hotel, which reopens on Sunday less than a month after suffering terror attack, on Saturday said nationals of all countries were welcome as its guests and there was no instruction from the Indian government to disallow Pakistanis as guests in the luxury establishment.
"Guests of all nationalities are welcome at our hotels. We would only follow notifications issued by the government of India. We have not received a notification from the government regarding Pakistani nationals," Trident President Rattan Keswani said in a statement.
"There are some reports in the media that Pakistani nationals are not allowed at hotels. We have not received a notification to that effect from the government of India," he said.
Oberoi-Trident were among the places that witnessed the brunt of the terror attack on November 26, which killed over 170 people.
Keswani's clarification came after there was some confusion about his utterances in Hindi during a press conference earlier in the day to a question on allowing Pakistani nationals. Source : The Hindu.
Cable cut disrupts net services
New Delhi: India is among the countries that have been hit by the undersea cable damage that occurred in the Mediterranean, disrupting Internet and communication links between Europe, the Middle East and Asia. Even as large Indian BPOs moved traffic to back-up routes and circuits, smaller call centres that rely on Voice over Internet Protocol (VoIP) were hit the most.
S.V. Ramana, president, Other Service Providers Association of India (OSPAI), said the larger BPO which used IPLC and MPLS continue to run smoothly. “However, BPOs which are serving the U.K. market in a big way may have been hit, as only half of the cable system is currently in use on the Atlantic route. Also, smaller companies which use the Internet as core network connectivity for serving clients are likely to see congestion, and higher latency.” BPO major Genpact said there was no disruption in its operations or services due to diversity in cable routes and service providers that are built into its network, its technology framework and redundancy.
Quatrro founder Raman Roy too said his company’s network had enough redundancies, and was able to reroute traffic, immediately.
“The SMW4 carries a lot of Internet and voice traffic from India. We also have circuits on SMW4, but we were not impacted as we have a comprehensive disaster recovery and business continuity policy. We have redundancy on both the trans-Atlantic and also the trans-Pacific routes, and so there was no impact on our customers,” Ranjit Narasimhan, president and CEO of HCL BPO, said. Source : The Hindu.
The Taj and the Trident reopen today
Back on their feet less than a month after the terror attacks
Sprucing up: Taj Mahal Hotel staff decorate a Christmas tree in the lobby on Saturday, the eve of the hotel’s reopening.
Mumbai: Terror-torn luxury hotels — The Taj Mahal Palace and Tower and the Trident — will reopen their doors on Sunday after a gap of less than a month.
At a press conference here on Saturday, Rattan Keswani, president, Oberoi Hotels and Resorts, told the media that the Trident would have 100 rooms occupied on the reopening day and its restaurants — India Jones, Frangipani, Opium Den and the Verandah — already received reservations calls.
In the wake of the attacks, the hotel sought expert help in upgrading security. “We have hired the best security consultant,” Mr. Keswani said.
Although he did not divulge the extent of spending on security upgrade, he said it was quite a lot. He spoke of the likelihood of the presence of armed guards and barricades at the entrances.
“The hotel will have large baggage scanners. Every piece of hand baggage will be checked, metal detectors will be in place at every entrance and there will be an identity check. However, these surveillance and security measures will be as “unobtrusive as possible,” he said.
The restoration of the Trident cost the Oberoi group, which manages the Oberoi and Trident hotels, about Rs. 40 to Rs. 50 lakh.
Of the two, the Oberoi suffered heavy damage and will reopen only after an estimated time of seven months. No decision on its reopening has been taken so far. The assessment process is likely to get over in 15 days, said Mr. Keswani. The restoration of the Oberoi will cost Rs. 40 crore to Rs. 50 crore. The insurance company, New India Assurance, already released Rs. 25 crore, he said.
Now the Trident’s lobby, the main affected area, sparkles — its unblemished look healing the discomfiting memory of the horror. Twenty-two guests and 10 staff lost their lives at the Trident and Oberoi, said Mr. Keswani.
According to Mr. Devendra Bharma, Executive Vice-President, during the attack, 135 guests were evacuated from the Oberoi and 316 guests were evacuated from the Trident. Guests dining at the restaurants were also evacuated.
He also said the hotel saw cancellations up to 30 to 35 per cent. However, this was true not just of this hotel, but in hotels all over the country. Moreover, this being the holiday season, the number of foreign guests is anyway low.
According to a Taj press note dated December 17, “268 rooms will be available, which include nine suites and six club rooms. The evening of December 21 will also see The Taj Mahal Palace and Tower reopening its world-renowned restaurants and eateries on the dot at 7.30 p.m., including The Zodiac Grill, Souk, Masala Kraft, Aquarius, Shamiana, Starboard and La Patisserie. Also reopening will be the Rooftop Rendezvous Banquet Hall and the Chambers.”
Both the Taj and the Oberoi have set up funds to help those affected by the attacks — the Taj Public Service Welfare Trust and the Oberoi Care Fund. Source : The Hindu.
Goa beach parties banned
Panaji Dec. 20: Security concerns have prompted the Goa government to announce a ban on beach parties over the Christmas-New Year week from December 23 to January 5. After a high-level meeting to assess the situation, the administration decided to go ahead with the ban after some initial confusion. It is expected to hit trendy beachside nightclubs the most. Several of these draw huge crowds that spill over onto sand decks. “It is impossible to provide security to such large numbers of people,” said Goa home minister Ravi Naik. Year-end festivities mark peak tourism season in Goa.
The ban though will not affect festivities in hotels, restaurants, indoor clubs and traditional open-air dances, the administration clarified. Permissions for these are being granted to those who can meet security requirements — metal detectors at entry and exit points, and other precautions. The administration has been insisting on stricter compliance with the 10 pm noise pollution deadline for open-air music. Source : Deccan.
Consult docs from other cities with phone cards
Dec. 20: Sample this. “Hello, doctor-saar? I think I have heart trouble. Or is it gas? Can you help me?”
“Sure, have you recharged your ‘Oxigen’ card? This might take some time,” replies the doctor, on the other side of the phone line.
A doctor’s consultation over a call from your mobile phone is the latest technological short-cut on offer, as the world’s first ‘pre-paid calling card’ was introduced to the city, by Delhi-based ‘Oxigen Private Ltd’ on Saturday. “On registering with Oxigen, a virtual ‘oxicash wallet’ is created. The ‘wallet’ needs to be recharged, and then, patients can call any doctor registered with Oxigen for a paid consultation,” explains Sunil Kulkarni, group president.
Patients with enough ‘balance’ on their oxicash cards will first choose a doctor, using a code number that ensures that both their mobile numbers stay confidential. When the doctor accepts the call, the consultation begins, and the caller (patient) is charged by the minute, according to rates fixed between the doctor and ‘Oxigen’.
“This service is best suited for post surgery or post-hospitalisation follow-ups. Those who want to consult doctors in different cities will also benefit,” Kulkarni added. Patients with psychiatric problems, or those who are embarrassed to be seen outside a venerologist’s clinic are also potential clients. While the company is still signing up doctors for its unique service, it remains to be seen if such ‘indirect’ consultations will score over a conventional, face to face interaction with the practitioner. Source : Deccan.
Woman held with 1 kg gold
Chennai Dec. 20: Airport customs on Saturday arrested a Sri Lankan woman for allegedly smuggling about a kilo of gold. The accused had wrapped gold wires around her arms while wearing a full sleeve shirt to avoid detection, officials said. Hairoos Lalitha (35) had arrived from Colombo by the Jet Airways flight and was on her way out the customs officials stopped her on suspicion. “The woman was wearing a salwar kameez with an unusually long sleeve. As travelers from Sri Lanka do not usually wear such a dress, we grew suspicious and our women officers checked her,” a customs officer said.
He said it was found that Lalitha had wound 24-ct gold wires around both her arms all the way up to the armpits. “We have seized the gold, weighing about 987 gms and valued at Rs 14 lakh. The woman has been remanded to custody,” the officer said. Source : Deccan.
Bank to stand by biz titans
Mumbai, Dec. 19: The ICICI Bank board in a major announc-ement said that Ms Chanda Kochhar will take over as the managing director and CEO of ICICI Bank on May 1, 2009 when Mr K.V. Kamath’s term ends on April 30, 2009.
Mr Kamath will replace Mr N. Vaghul as non-exe-utive chairman of the bank. The appointment of
Ms Kochhar at 47, to head the bank follows a tradition where Mr Kamath, and be-fore that Mr Vaghul headed the bank in their late-40s. Ms Kochhar’s appointment as managing director and chief executive will be till March 31, 2014.
A combative and suave
Ms Kochhar answering que-stions at a press conference where the announcement was made said that she had no regrets heading the bank in this tough environment. She said: "It is a challenge, not a scare." And it requires "different steps in a volatile situation. Leadership capabilities are best tested in challenging situations and I am happy to take the mantle at this time".
She said the "interest rate cycle is declining and correcting, and as rates soften, it will become a catalyst for restarting economic activity. This means more opportunities for the banking sector. "
Ms Kochhar said the bank stand by the corporate houses. "The corporates have piled up the inventories with the high input costs. Now the input costs have come down creating a need for winding up those inventories. In this challenging period, banks need to support them. When they come out of the situation, they will be able to adjust. It will also help to keep the non-performing assets (NPAs) under control," she said.
Ms Kochhar said: "The interest rate cycle is indicating a clear downward trend, which is evident in the last couple of weeks."
She added, "The government bonds, corp-orate bonds and bulk deposit rates have come down by about two per cent in last couple of weeks. Lending rates also are also coming down. But as the overall cost of fund is high, the bench prime lending rate (BPLR) will not be eased immediately," she said.
The growth in the overall loan disbursement in this fiscal will be in the range of five to 10 per cent against double-digit growth in the past few years, she added.
While speaking about the disbursement of the retail loans, she said: "The decision is being taken according to the lending parameters and credit quality. We have stopped disbursing personal loans and are making efforts to keep defaults in case of credit cards within limit. The share of personal loan and credit-card lending in overall lending portfolio is very small," she said. Source : Deccan.
Oil price falls to $34/bbl despite Opec output cut
London. Dec. 19: Oil fell below $34 on Friday to its lowest level in more than 4-1/2 years as the global economic slowdown overshadowed Opec’s record supply cuts. US light crude for January delivery fell $2.64 to $33.58 a barrel. London Brent crude was trading 18 cents up at $43.54. Oil prices have fallen by more than $110 from their peak above $147 in July. They look set for their second biggest weekly decline since 2003.
"Until traders see a sustained drop-off in the rate of demand destruction, the market will have a hard time establishing a floor," Mr Jonathan Kornafel, Asia Director of Hudson Capital Energy, said.
"From a credibility standpoint, Opec has no choice but to bite the bullet for the next few months."
Oil has continued to drop despite pledges by the Organisation of the Petroleum Exporting Countries (Opec) this week to remove 2.2 million barrels per day from its supply, which will be the largest ever reduction by the producer group.
Opec kingpin Saudi Arabia’s oil minister, Mr Ali al-Naimi, speaking in London, said on Friday the kingdom would be pumping less oil in January and would be at its new output target in line with the group’s latest cut.
Other key markets were also falling on Friday. The dollar looked set for its biggest weekly decline since 1985 and world stocks fell as concerns about the US economy worried investors in the last full trading week of 2008.
Because of the worldwide credit squeeze, many analysts expect a drop in oil use this year.
Some doubt Opec, whose third production cut since September has brought its total reduction to over four million bpd or five per cent of world supply, will fully implement the agreed cuts, further weighing on prices. Source : Deccan.
RIL: Working on three important projects
Mumbai, Dec. 19: While not denying categorically that it had put its investments, expansion and new investments on hold, the Reliance Industries Limited group on Friday said that it was currently involved in three projects: the second refinery at Jamnagar, the gas production in the KG Basin and the East West Gas Pipeline.
Some media reports mentioned that RIL put on hold new investments and expansions and had also put its semiconductor business on the back burner.
On the semi-conductor business the spokesperson said: "As a part of our business expansion, we continue to evaluate various long term potential business opportunities. As a matter of policy we do not comment on any business which is still in the evaluation stage."
The group also denied that it was retrenching staff.
It said: "As a good corporate practice, we constantly examine our cost competitiveness and take appropriate measures regularly.The group had written to the director general of hydro carbons regarding the problems that it faced after the terrorist attacks on Mumbai."
Asked about this the RIL spokesperson said: "We are working with our various international consultants to mitigate the impact of the recent terror attacks in the country. We had announced that the gas production is expected in the first quarter of 2009. All efforts are being made to ensure the start of production in this time frame." Source : Deccan.
Titanium project in TN in limbo
Chennai, Dec 19: The future of Tata Steel’s proposed titanium project in Tamil Nadu with an investment of Rs 2,500 crore is in trouble. "It’s (the project) in limbo. It’s now up to the state government to act," said Mr B. Muthuraman, managing director of Tata Steel.
Tata Steel had signed a MoU with the state government for setting up titanium dioxide project in Tuticorin district of Tamil in 2007. The project consists of mining, mineral separation and value addition to titanium dioxide pigment. It requires about 10,000 acres land expected to generate employment for 10,000 people.The company had already acquired 300 acres land for the project.
Then some political outfits objected the land acquisition demanding higher price for the land. With the Tata’s new stand indicating that the state government has to solve the land acquisition issue, the project will be further delayed. He said the steel price would remain at the present level or it might go up marginally. Source : Deccan.
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