FIPB meet deferredNEW DELHI: The meeting of the FIPB, which was expected to take up major proposals including GE Capital Services, Hyundai Motors, Morgan Stanley and GE Capital Services, has been postponed for a week, following the transfer of TR Prasad as industry secretary. Official sources said that the meeting was postponed as the new industry secretary Ajit Kumar had sought some time before chairing the FIPB meeting. The next meeting would be held on January 9.Emco TransformersMUMBAI: The Rs 100-crore Emco Transformers has changed its name to Emco. In addition to transformers the company will now focus on the power transmission and distribution sector. It has targeted a turnover of Rs 400 crore to be achieved in the next three years. It will also offer supervisory control and data acquisition solutions for sub-station automation and rural load management.WMA downMUMBAI: The centre's ways and means advances reduced by Rs 3,254 crore for the week ended December 18. Theadvances under this category were pegged at Rs 1,698 crore as against Rs 4,887 crore in the previous week. The government can borrow up to Rs 7,000 crore in the second half of the financial year from the RBI under WMA.Quality meetMUMBAI: The ninth world congress on total quality is being organised by the Institute of Directors from January 8 to January 10, 1999 at the city. The congress is likely to be inaugurated by the prime minister, a release from the organisation said. The keynote speakers include Swaraj Paul, Robert Osterhoff of Xerox and N Vittal, Central Vigilance Commissioner. Over 100 quality experts from 28 countries - Yoshio Kondo from Japan and James Mc Hugh from UK among others - will also make presentations at the event.Bank of IndiaMUMBAI: As a new year service to investors, Bank of India has launched the depository services at its branch in M G Road, Fort, Mumbai. Chairman and managing director S Rajagopal inaugurated the office. The bank has not proposed anyaccount opening charges at all. Other charges like demat and custody charges are also competitive. With its vast customer base and competitive tariff, the bank is confident of attracting a major segment of institutional and individual investor groups.Prince PipesMUMBAI: Prince Pipes & Fittings, a division of the Prince Plastic group has received ISO 9002 for quality system management from Underwriters Laboratories Inc USA. The company is now under process of acquiring ISO 9001. The company has two modern manufacturing fully automated units at Silvassa.IBM GlobalMUMBAI: Chem Systmes, a renowed management consultancy firm for chemical, petrochemical and petroleum industry - now part of the IBM Global Consulting team - has brought its new relationship to growing Indian market. The India office is based in Chennai. Chem Systems will operate as part of IBM Global Services Consulting group in India and will support the IBM process & petroleum industry solutions team in helping chemicaland petroleum industry clients harness change for competitive advantage.Bombay DyeingMUMBAI: Bombay Dyeing and Manufacturing Company which has a strong presence in the readymade garment segment through its brand Vivaldi has launched two new menswear brands - Princeton and Forest Hills. Princeton shirts are crafted from one of the finest fabrics in the world.Escorts stir withdrawnNEW DELHI: The prolonged employees' strike that had paralysed Escorts group companies for 40 days has been called off unconditionally, a top company official said. "The employees union has agreed to call off the strike unconditionally after 40 days and the employees have returned to work today," Escorts group corporate head H N Arora told PTI here today. The strike was withdrawn after the intervention of Hindu Mazdur Sabha (HMS) all India general secretary U Purohit and deputy commissioner.Ashok LeylandCHENNAI: Ashok Leyland has reverted to a five-day week from December 26. This brings to an endthe two-day lay-off, in vogue since September 4, which the company had implemented to bring down its inventory level in tune with the market conditions. Earlier, in December, the company had cut the lay-off period by a day. Ashok Leyland has drawn up plans for producing around 6,000 vehicles in the last three months of the current fiscal. If the remaining number of working days are taken into account, an increase to six-day a week looks inevitable from February. Further increase in working days would be considered on a weekly basis depending on the likely demand.
