International travellers from India to taste Virgin experience from July 6
New Delhi: In what is likely to set off a fare war in the India-UK sector, Richard Branson’s, Virgin Airlines, is to launch its service out of India, on the Delhi-London sector, from July 6. Branson, who has made a name with his aggressive marketing and pricing strategies, has already declared that Virgin’s Delhi-London route will be "attractively priced". The first flight is expected to reach Delhi on July 6 and take off from here on July 7. Initially, there will be two flights a week on the sector, which will be increased to three flights a week.

Virgin, which does not have a first-class section, instead ensures that the business class passengers are given better service than first-class passengers in most airlines. Industry experts feel that since business-class fares of Virgin Airlines would be less than the first class fares of other airlines with equivalent facilities, a fare war looks inevitable unless the airlines want to match Branson’s facilities.

Even in the economy class, the airline would be offering a host of facilities – like "goodies pack" and "kiddies pack" -- that are expected to lure passengers, apart from more leg room for passengers.
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BSE institutes awards for corporate excellence
Mumbai: The Bombay Stock Exchange has instituted three corporate excellence awards to recognise companies in three categories - companies who have shown better standards of corporate governance, companies that are investor-friendly and companies that have maximised shareholders' wealth during the year.

The first of these awards for 1999-2000 were given to Infosys Technologies, Dr Reddy's Laboratories and Zee Telefilms at the hands of Mr. Parmod Mahajan, the minister of IT.

Infosys Technologies received corporate excellence award for corporate governance, Dr Reddy's Laboratories for investor friendliness and Zee Telefilms for maximisation of shareholders' wealth.

The companies were selected by a panel, headed by the UTI Chairman, Mr. P.S. Subramanyam, based on criteria like accounting policy, corporate governance, financial performance, investor friendliness, people management, promoters and management, shareholders' wealth creation, regulatory compliance and contribution to nation/society.

BSE had appointed Crisil Research & Information Services of India Ltd for evaluating and ranking the companies, out of BSE-200 Index, for each of the three awards.
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Government may sell its stake in VSNL, MTNL
New Delhi: As part of its disinvestment plant, the government will privatise both its blue chip telecom public sector undertakings, Videsh Sanchar Nigam Ltd and Mahanagar Telephone Nigam Ltd by bringing down its stake to 26 per cent. At present the government owns 56 per cent stake in MTNL while the government’s holding in VSNL stands at 54 per cent. A decision to this effect is likely to be taken at the the next meeting of the Cabinet Committee on Disinvestment scheduled to be held on June 23.

The core group of secretaries on disinvestment had already recommended further disinvestment of the government equity in the VSNL and MTNL. It had also pointed out the need to induct a strategic partner in Mahanagar Telephone Nigam. The group was of the opinion that in face of the stiff competition to MTNL from the private sector, any delay in the induction of strategic partner would adversely affect the realisation from the disinvestment of the government equity in the company. 

Department of Telecom Services (DTS) which is the service providing arm of the communications ministry has, however, opposed to further disinvestment in MTNL and VSNL. It has also opposed the proposal of doing away with the monopoly of the VSNL before 2004. 

DTS pointed out that it would be unfair and against the interest of the investor to consider the monopoly issue of the VSNL over international long distance telephony by 2002 against 2004 assured earlier.
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