Infosys Technologies on Tuesday said it is among seven international companies chosen to be in the first annual list of "top brands with a conscience". Infosys is the only Indian company to be part of this select group, a company statement said. Brought out by the Medinge Group, an international collective of brand experts who meet annually, the list is based on principles of humanity and ethics rather than financial worth, it said. Companies were evaluated on various parameters ranging from the evidence of ethical programmes and human implications of the brand to the ability of the brand to take risks in line with its beliefs, the statement said. Infosys Technologies recently won two other awards recognising its financial performance as well as overall management. The Far Eastern Economic Review rated Infosys the best company in India for the sixth consecutive year and Asia Money selected Infosys as the best managed company in India.

Courtesy: The Economic Times, February 24, 2004

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The Indian Oil Corporation (IOC) has firmed up a contract to export gas oil (petrol) and jet fuel to Bangladesh. This contract was done on a government to goverment basis and is under term contract for a one-year period. Under the contract, IOC will export some 220,000 tonnes of petrol and 20,000 tonnes of jet fuel, translating into 10 cargoes, and valued at $80 million. Bangladesh has 3.8 million tonnes requirement of petroleum products, but it has manufacturing capacity of only 2 million tonnes. The rest of the country's requirements are imported. IOC had been talking to government firms in Bangladesh on this deal for some time now. It has now to deliver at Khulna, close to the Haldia port. IOC has thus far been pitching for selling petrol and jet fuel at Chittagong- which is about 100 miles from Haldia port- using small barges. But, Bangladesh has its customs checkpoint at Khulna and that appears to have settled the issue in favour of this delivery point, from where the consignments will be taken by rail and road to other points. So far, Bangladesh has been relying on Kuwait for a substantial part of its imports, but IOC has offered it a compartively better price, thanks to lower freight charges. "It makes eminent logic for IOC to grab the opportunity because we can offer competitive rates thanks to close physical proximity and therefore, lower freight charges," emphasised Mr V K Nayyar, planning and business development head for the company. IOC had started a large drive for tapping the Saarc market.

Courtesy: The Economic Times, February 21, 2004

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Business expectations in India are on a roll, buoyed, it would seem, by the feel-good factor that has been sweeping through different sectors of the economy. The Business Confidence Index has risen to its highest level since September 1995. In the current quarter, the ET-NCAER's index of business confidence has increased 8.7% over the previous round in October '03 and stands at 138.1. Macro- and microeconomic indicators have shown improvement. The indicator for investment climate is up 10% over the previous round. This is likely to result in a surge in big capital investments, which had been subdued for some time now. The fact that quite a few IPOs have been lined up in the coming weeks is a testimony to this. The indicator for overall economic environment is also up 3%. Among micro parameters, while the indicator for the financial position of firms has risen by 3.7%, the indicator for capacity utilisation has reached a new peak, moving above the 90 mark. This was the trend in the last quarter as well. However, capacity utilisation was the exception then, since it had fallen marginally from the previous rounds. The difference this time is the global economic upturn, primarily led by Japan. Domestic GDP is expected to grow at about 7.5-8%. All the other indicators of macroeconomic health of the economy - the index of industrial production, manufacturing, exports and imports - have also clocked healthy growth rates. The rise in the Business Confidence Index this time has permeated all sectors, regions and firms of all types of ownership.

Courtesy: The Economic Times, February 20, 2004

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