|
Vol. 2 ::
No. 10 September, 2000 (Bhadra-Aswin) |
World Brief
|
|||
|
|||
World Brief |
India has announced plans to privatize its international phone service by 2002. Lifting the state monopoly, according to Communication Minister Ram Vilas Paswan, would allow foreign investors to develop India’s telecommunication services.
The telecom sector was opened to private service providers in 1994 after 50 years of state monopoly. Mobile telephone services have been privatized and the Indian government announced only last month that long-distance domestic services would be opened to the private sector.
In line with plans of privatization of the international phone service, the government has pledged to overhaul its telecommunication department, replacing it with a corporate structure by next year.
Toyota Motor Corporation, the largest Japanese automaker, has announced that it would triple production of its best-selling passenger car Corolla in Latin America to meet rising demands.
The company said in a statement that Toyota de Brazil will spend about US$ 283 million to triple the production of the model to 45,000 units annually by 2002. Toyota Argentina SA, which imports Corolla from the Brazil unit, will also start producing the model besides the Hilux pick-up truck, the statement further said. It added that Toyota de Venezuela will make cost-cutting improvement to enhance its position as Corolla supply – base for countries like Colombia and Ecuador. The commutative effort will see production of Corolla in Latin America reach 60,000 units a year by 2002, the company said.
Mynamar is set to sell eleven state-owned enterprises under four ministries by way of competitive bidding. This was reported by official newspaper, the Light of Myanmar.
The enterprises to be bid for include one plot and two warehouses belonging to the Ministry of Home and Tourism, six cinemas of the Ministry of Information, one timber shop of the Ministry of Forestry, and one ice factory owned by the Ministry of Livestock and Fishery, the newspaper reported.
Myanmar, since 1995, has been implementing a privatization plan aimed at systematically transferring state-owned enterprises into effective business organizations. In 1999, a total of 180 government enterprises, including 15 factories, 7 rice mills, 85 cinemas and 11 hotels were covered by the privatization plan.
Mitsubishi Motors Corporation, Japan’s fourth largest automaker, is slated to suffer a net loss of 60 billion Yen (US$ 560 m) in the six months ending in September, according to a report carried in the business daily Nihon Keizai Shimbun.
Mitsubishi’s interim group results will further go into the red on the back of its report of a 38.5 billion Yen net loss for the same period in 1999, the newspaper said.
Owned 34 percent by German-US giant DaimlarChrysler AG, Mitsubishi is spending about 7.5 billion Yen on vehicle recalls after admitting concealment of customer complaint about defective vehicles for decades.
Under a major cost-cutting overhaul, Nissan Motor Co. Ltd. of Japan has planned to introduce 24-hour production for first time at its flagship British plant.
All-day output under three-shift production is already used in Nissan’s French controlling shareholder, Renault SA. The plan is also proposed to be used in Nissan’s Barcelona factory. However, no British car factory has regular 24-hour output, the British business newspaper the Financial Times said.
After imposition of the new plan, the plant at Sunderland, in northern England, is expected to have increased potential capacity by up to 50 percent to 5,00,000 cars a year - by far the largest of any British car factory.
Introducing new amendments in the existing cable TV broadcasting laws, the Indian government has banned tobacco and liquor advertisements.
The new code has also prohibited ‘adult shows’ as well as advertisements promoting synthetic baby food which results in reduction of breast-feeding. Furthermore, restrictions have been imposed on programs or ads which might ‘hurt religious sentiments.’
The new code has also provided for stern measures against cable operators violating local copyright laws. The code empowers civil administrators and police to confiscate equipment of cable TV operators found guilty of flouting the new code.
Corporate | Cover Features | Column | Opinion Poll | Economy & Policy | Inner-view | Entertainment | Management | Sectoral | 91 Days Treasury Bills | Health | Business News | Tourism | World Brief | Main | Photo Feature
Send your feedback to the editor: bizage@ecomail.com.np
1999 © Mercantile Communications Pvt. Ltd. P.O. Box 876, Durbar Marg, Kathmandu, NEPAL.
Tel : 977 1 220 773, 243 566 . Fax: 977 1 225 407. Reproduction in any form is prohibited
without prior permission. No part of the articles which appear in the internet version on BUSINESSAGE
may be reproduced without the permission of Mercantile Communications Pvt. Ltd. For
reprinting rights, please write to us. Send
us your feedback:contact us .
CLICK HERE FOR PAST ISSUE.
This site is best viewed at : 800 X 600 resolution