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Vision Through sustainable measures, Reliance creates value for the nation, enhances quality of life across the entire socio-economic spectrum and helps spearhead India as a global leader in all the jews18 where it operates. What is Scribd? Mr Kokh now heads the Moscow-based Montes Auri investment company. It confirmed a preliminary opinion of its advocate-general and нажмите чтобы увидеть больше UK government had expected the judgment It has been attempting http://replace.me/29221.txt lift the ban with two windows 10 1703 download iso italy news18 punjab, one relating to Northern Ireland beef and the other to cattle through- out Britain boro after Octo- ber

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The competitors have to tread a fino line, as they do not want to disadvantage their other products in push- ing the JSF programme, which they may not win and which, like all military pro- curements, ‘ risks being scaled down or delayed. It’s a fabulous product but we’re trying to work with the customer to figure out how it fits in with the rest of the vehicles.

Patrick Murphy, deputy senators the affiances had raised fears that competition on domestic flights would be reduced. Just one day afterAmerican Airlines and US Airways said they were launching an extensive marketing alliance. The Idee has already been taken up by other tong-dstance carriers, such as LQ International and MCI, but the backing of foe country’s largest telecoms company is likafy to give ft more weight The long-distance carriers fear that Industry reg- ulators wiN eventually allow the five Betts Into the long-distance business, which has lower barriers to entry, before their entrenched local markets have been fully prised open.

If the US Federal Reserve seems to be inclining towards raising rates at the next meeting of its open markets commit- tee, due on May 19, officials have Implied that Argentina will raise liquidity requirements beforehand.

A rise in liquidity requirements from the current 20 per cent was a key recom- mendation by last month’s International Monetary Find mis- sion, whfc h urged measures to cool the economy. Gross domestic product grew 8.

It urged tax rises and other measures to slow domestic demand. Ken Warn, Buenos Aires.. For on-line reservations, vis vwwsheraton. Fax and Copier. A full range of business essentials. And of course, large, comfortable beds.

Sheraton is also proud to ofFer an innovation that makes it easier than ever to stay in the loop when our of the country. If sterling joined in Christian Moyer, is scheduled to retire then. In ferocious exchanges in the Commons, Mr Blair gave a staunch defence of the decision at the European Union summit in Brussels at businesses at the National Exhibition Centre, to – B irmingha m.

England’s second-biggest city, in the first of a regional series of government seminars. As more of toefr comptfttors dealt in a single currency, pressure would mount for them to do likewise or lese business. Responding to accusations that he had acquiesced in a breach of the Maastricht Treaty – which says the ECB president should serve for eight years – the prime minister said the Dutch cen- tral banker was “the only candidate that was credible”.

Unfortunately, the eco- nomic crisis in South Korea has pushed back its opening by a year, to the end of It was followed last month by the decision of Mitsubishi Electric to close its televi- sion plant at Haddington.

On the same day. But it is not all gloom. Cadence, based in San Jose, California, expects to employ 1. But Scottish Enter- prise believes 6, Jobe could have been created by then as other semiconductor design companies move in. Project Alba should trans- form a Scottish electronics industry which employs about In the past decade, a stream of other companies from the US.

Japan and Taiwan has opened elec- tronics plants in Scotland. Ereidrie JK. Semiconductor designers are in sho rt supply worldwide, particularly in California. Cadence has gone for a long-term solution, which is very refreshing.

What Michael Beahnear. Under Project Alba. Scot- tish Enterprise plans to establish a mechanism by which electronics designers can trade their software. There win be spin- offs in an areas of electron- ics and it win become easier to anchor manufacturing companies already estab- lished here. The laws cover pubs, clubs, restaurants and liquor stores. Apart from the introduc- tion of ail-day opening in – extended to Sundays three years ago – the licen- sing regime is little changed since tough restrictions were imposed in to help the war effort.

George Howarth, a Home Office minister, told the Brit- ish Institute of Innkeeping that the current laws, the most restrictive in the Brit- ish Isles, no longer reflected modem leisure activities or the needs of the tourism industry. Among the Issues for review were the typegjrf licences, who should issue them, licensing hours, and conditions, and how the law should be enforced.

The announcement was welcomed by the industry, which urged a speedy con- clusion. The minister warned that change would come only after extensive consultation to protect the interests of rqsjdgnts and other inter- ested parties. Officials said a green government consulta- tion paper was likely at the aid of next year and legisla- tion would be some time later. The pub and tourism industries point out that there has been no trouble following the relaxation of restrictions in Scotland and Northern Ireland.

A public consultation on drink-driving legislation will end on Friday, with ministers undecided on whether to cut Britain’s limit to bring it into line with most other European countries. But officials have grown increasingly concerned about the public response to a cut in the limit from 80mg of alcohol per ml of blood to 50mg. An investigation by the executive counsel to the pro- fession’s Joint Disciplinary Scheme a lawyer advising the scheme has decided that a prima fade case exists against Coopers and a for- mal complaint will be made to the scheme’s tribunal.

The tribunal has in the past dismissed charges put forward by its counsel, or decided that no action is required against partners or firms. Initially the firm attempted to stall the scheme’s inquiry until alts’ the completion of civil and criminal proceedings linked to Robert Maxwell – but dropped its legal moves after contributing to a settlement far pensioners.

The tribunal will hear the case this year. It has wide- ranging penalties at tts dis- posal including unlimited fines and the banning of individual auditors. The disciplinary scheme said yesterday that Chris Dickson, the scheme’s coun- sel. Complaints would be made alleging that Coo- pers’ conduct or quality of walk fell below standard. Net resources at the end of last year were gLSbn.

But he denied suggestions that Lloyd’s was trying to drive out Names, its traditional capital providers.

TT it is in the interest of British jobs. British invest- ment, British industry we do it,” he said. The prime minis ter dodged questions about how he intended to fulfil the crite- rion for Emu membership that applicant currencies must maintain a stable con- version rate with the euro for two years. The move could lead within weeks to the first exports of UK beef in more than two years.

The favourable inspection will be greeted with relief in the UK. The European Court of Justice yesterday upheld the : European Commission’s right to ban British beef 1 exports over the disease. It confirmed a preliminary opinion of its advocate-general and the UK government had expected the judgment It has been attempting to lift the ban with two schemes, one relating to Northern Ireland beef and the other to cattle through- out Britain boro after Octo- ber The commission said yesterday that other plants would have to be inspected before they could begin Northern Ireland Is able to start exporting beef earlier than the rest of the UK because it has a computer- ised system far tracking ani- mal movements over the past eight years.

The average delay was 16 minutes, compared with 14 minutes in The figures are averages of all flights from the airports and not just of those which were delayed. The authority said last year’s perfor- mance was still better than in the late s despite a 24 per cart increase in the number of flights since then.

Last year’s delays had a variety of causes, including weather, industrial action, air traffic control difficulties, defective aircraft, missing passengers and security hold-ups.

Delays to scheduled ser- vices increased to 13 minutes from 11 minutes the year before. International flights were delayed more often than domestic services.

Delays were also more likely on long-haul routes than on short-haul flights. The worst airports for scheduled passengers were all in London. Delays at Gatwick and Luton airports averaged 16 minutes. At Heathrow, the average delay was 14 minutes. The company, based in Los Angelee, has operated an online booking service in the US for the past 18 months.

Barry Diller. I don’t believe this is right’,” she said. Ms Short added. In a separate hearing. Robin Cook, the foreign secretary, told the committee that the govern- ment’s response to the crisis “had not been good enough”. It expects to sell up to of the high-performance Italian cars annually. The Inchcape purchase forms part of preparations by Italy’s Flat group to relaunch the Maserati brand globally.

At that time produc- tion at the troubled Modena carmaker had dwindled to fewer than 1, a year, with only a few dozen being sold each year in the UK.

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Bax , AE Amsterdam, the Netherlands. Please specify clearly which position you are interested in. This prosper- oua Emilian town, celebrated for Its cheese, ham and spring vio- lets. There are the deBghtfol fres- coes of the Camera di San Paolo, painted for the private delecta- tion of an aristocratic abbess, and his illusi on i stir frescoes in the cupola of Parma cathedral. The town boasts a ftna art gallery housed in the gaunt 16th-century Farnese Palace, alongside the impressive classical theatre.

This breadth was manifest in his col- lecting too. Unlike most of his countrymen, Magnani did not confine himwif to the work of local or even Italian artists and the most striking aspect of a visit to Mamiano is discovering the unexpected – a stunning Dtkrer, a stupendous Goya, works by Ingres, Fuseli, a Mediterranean Monet, Renoir fish.

In particu- lar, David Harewood’s account of the title role has grown immea- surably in immediacy, style, and power, and the whole staging – especially in the second half – is the most moving Othello I have ever encountered. True, there are a few losses with its move from the smaller The whole staging is the most moving Othello I have ever encountered there is not an ounce of exaggerated or unnatural acting anywhere auditorium.

Almost every actor lets a few or his or her quieter words or phrases become inaudi- ble in the larger auditorium. But the production is compelling, the address of each actor to his or her colleagues exemplary. There Is not an ounce of exaggerated or unnatural acting anywhere here. On Monday, an audience that had brought an outsize share of coughs, throat-clearings and rus- tlings into the auditorium was gradually transfixed; in the last two acts, the tall of a pin onstage would have been been audible, and – in a production so econom- ical and focused – would have mattered.

Much about this Othello – which is set in the period between the wars – will seem definitive for years to come. No performance more so than Simon Russell Beale’s as tego. Or its scorn? Or fts lonefiness? He seems HI at ease with his own body. His voice is stinging, his presence baleful, his mind bil- ious. As Iago, however, he has two faults. He shows the rattling speed of lago’s talk, but occasionally Ids rapid delivery erf the long skeins of lago’s schemes becomes a vir- tuoso kind of -monotonous babble: we.

And, in same soliloquies, he Is too knowing, too dose to camp in his edd relish for the evfis he is setting in motion. Nei- ther of these faults is too serious. Right up to the end, fids Iago is disturbing and unfathomable: deeply so. The complete com- posure of this.

Desdemona, whether in private grief or cc ad- verting with others, is wonderful because it draws us in: so that the final scenes in her bedcham- ber are thrilling. Tranquil in hap- piness, she is rendered immobile by affliction. We hang on her face and voice and stance because their tiniest nuance expresses her Innermost feeling: ‘ As for Harewood, he now so by three gilt-bronze sphinxes by the outstanding French Empire fondeur-doreur, P-P -Thomire, made for Tsar Alexander H who then gave it to Napoleon.

This is part of a notable group of Empire -furniture and works of art which Magnani acquired with the advice of the pioneering cham- pion of Neo-Classicism, Mario Praz.

The second revelation comes In the long picture gallery. As a collector of Italian Old Mas- ter paintings. Magnani never put Afoot wrong; there is not a single dud. Moreover, a handful of paintings would grace any great museum. There is, for instance, the glow- ing, perfectly preserved panel of St Francis receiving the stigmata by Gentile da Fabriano, origi- nally made as a double-sided pro- cessional standard the other, less interesting, side is in the Getty. St Francis kneels in prayer on a grassy ledge beneath the barren peak of La Verna- On the other side of a ravine, Brother!

It is not known how Gentile came to interpret heavenly radiance a a natural sunlight he achieved the effects by laying his pigments tight that became the hallmark of so much Florentine painting.

Dareris Madonna, meanwhile, finds the artist at his most Vene- tian, a rare work of his second visit to Italy in and acquired by Magnani from an impoverished convent at Bagna- cavallo. Formed with discrimation rather than unlimited cash, this is one of the choicest small art collections amassed anywhere during the latter part of this century over gold leal , but this naturalis- tic rendering of tight and shadow Is entirely new in early 15th cen- tury Italian art.

Nearby, a Filippo Lippi Marinnwa and Child fs. The monumental figures fill the fore- ground, the donor kneeling In devotion at the feet of the Batofui presence: Kroon Russefl Baahfe Iago catches the misery of evil fully i nhab its the role of Othello that he carries the play’s later acts. His rapport with Desde- mona and Iago Is fuB of superb detail: how marvellously he lis- tens, and how poignantly he no sooner embraces Desdemona than he opens his mouth to address Iago.

Hare- wood listens, as he has listened throughout, with an innocence immensely touching in so force- ful a man. It is still true that his actual diction Is laboured; the dark, intense vocal tone and the consonants seem conceived in very separate areas of his head. But his phrasing has become altogether more natural, his keen spontaneity overrides all.

I love thee oatj Chaos is come again. Sometimes I think there is nothing better than to discover a new or unfa- miliar play of excellence; but sometimes I think that the best experience of all is to encounter a familiar play as if for the first time.

So with this superb Othello. Even Goya’s palette is muted. The aged Don Luis, the brother of Charles ID, sits at the card table, game over and cards discarded, staring vacantly ahead; his much younger wife sits having her hair curled. A retinue of staff and family stand in attendance while in the foreground a painter crouches at hi« easel.

Goya presents it all like some theatrical tableau, and even the protagonists seem to collude with an unseen audience. Donna Maria Teresa Inspects us warily, the servants look on with open curiosity. Don Luis seems to be holding his pose while waiting for the curtain to drop — on the whole Bourbon dynasty, perhaps.

One answer is that his father was a well-to-do busi- nessmen with interests in prop- erty and dairy and agricultural products.

What gives this collection its truly dis- tinctive character, however, is the rare care, discernment and passionate determination with which Gino Magnani selected and pursued his quarry. In Magnani set up tbe Foundation for the public display of the collection after his death- Music and art remain the life- blood of the place – as do those precious rounds of Parmesan cheese maturing slowly on the family estate nearby which help ensure the up-keep of the museum a nd its programme of loan exhibitions and concerts.

Hie Fo u n da t io n Is open daily, except Mondays, unfa November. Theatregoers may not show up thinking they will encounter gods and goddesses of the Hepburn-Grant order, but they do have a right to expect performers who can make these roles their own; otherwise there is no reason for people to pay top prices for facsimiles. Unfortunately, neither Melissa Errico nor Daniel McDonald, who play tiie pair of swells here, is frilly up to the demands of their assignment, and their deficien- cies remove a lot of the glimmer and bite from what is otherwise a well-designed, quite enjoyable evening.

McDonald is the more serious piece of miscalculation. A square-jawed specimen of almost reprehensible handsome- ness, with a voice that has heft but not much lyricism, he would be ideal for George Kittredge, tbe down-to-earth fellow Tracy is about to marry; but as the yacht- loving, aristocratic Dexter, he is, in almost every way fighting above his class.

In contrast to her co-star. Errico is not exactly miscast She has aid-fashioned patrician pretti- ness, an elegant clear soprano, and is capable of the screwball- comedy speed her lines often require. She Is also very good at queening it over her colleagues. But when Enrico says. The other performers, with more stock roles to play, have near-uniform success. Bottom-pinching, bibulous. McMartin darts in and out of his Oyster Bay estate, where the nuptials are to be held, spreading an equal measure of gaiety anc consternation.

If rally the entire evening, whose direction Is cred- ited to Christopher Renshaw, had achieved an equally high level of grace. The conductor is Rtocartto Qialfly; May 6, 8. AWistmuseumbwairt Andy Warhol: Drawings Bigonzitti ana Forsythe; May 8, 9. With the Handspring Puppet Company, at theLunatheater. Conducted by Jonathan Darlington fen a staging by Alain Marcel.

Conducted by Gabriele Ferro in a staging by Stephen Lawless. Highlights wifi Include works by CSzanne. Gala der Stars: Enoch zu Guttanberg conducts works by Haydn. Mozart and Beethoven. The programme Is completed by works by Haydn and Shostakovich. Nearby, however, lies another Idng-en trenched conflict in which the EU has a direct, ‘perhaps decisive role, while the UK has specific treaty responsibilities.

But to call it temporary must have taken all of his legendary can-do spirit Deadlock has ‘prevailed ever since Turkish troops occupied the northern two -fifths of the island in The main obstacle has been the -determination of Rauf Denktasb, the Turkish Cypriot leader, to win equal status with the Greek Cypriots by getting the uforld to recognise his Turkish-protected de facto state in the north of the island.

The Greek Cypriots, meanwhile, in gjar. Three years ago the EU sought to break this logjam by including Cyprus in its next wave of members. This was done to purchase Greek consent to a customs union between the EU and Turkey, but it was also hoped that the prospect of EU membership would give both communities on the island an incentive to settle their differences.

If Turkish Cypriots blocked a settlement they faced the risk of seeing Cyprus admitted to the EU under its present, purely Greek Cypriot government; and if Greek Cypriots appeared intransigent they risked forfeiting the prize of entry. It has not worked. Mr Denktash has hardened his position, imposing two conditions for further talks that, as Mr Holbrooke says.

One is that his state should first be recognised internationally, the other that the accession talks between Cyprus and the EU should be hroken off. Only Turkey has real leverage over Mr Denktash – leverage it would have used, had thi n gs gone according to plan, to win west European good will and so smooth its own path to EU membership.

But this had a hollow ring for Turks, who saw themselves denied equal status even with countries deemed not yet ready for actual membership talks, such as Bulgaria, Romania and Slovakia. Since then Turkey has sought to punish the EU rather than placate it.

Serious impasse; Richard Holbrooke left with Rauf Denktash Instead of encouraging Mr Denktash to take up, or at least discuss, the ElTs offer to include Turkish Cypriot representatives in the accession talks, it has backed him in breaking off the long-standing interrommunal talks on the island’s future.

Turkey is simply not going to allow the whole of Cyprus, with its Turkish community, to be swept into an EU where Greece is a member but Turkey is not welcome. If the EU persists with its present line, Cyprus will remain partitioned.

The south with its Greek inhabitants will join, while the north with its Turkish Inhabitants stays outside, whatever the text of the accession treaty may say. The Turkish Cypriot state, like the Jewish one, should be offered recognition of its right to exist, but on condition that it contents itself with the same share of the land that it has of the population – roughly half what it now occupies.

Peacemaker Blair, as EU president, should confront his fellow heads of government with a clear choice. He should tell them that, unless they use ng-rt month’s Cardiff summit to correct the mistake they made at Luxembourg, he will feel obliged to convene a conference of the three guarantors of Cyprus’s independence Britain, Oeece and Turkey and to propose a new formula giving independence to both communities on the is land, on separate but equal terms.

Mortimer FT. He evidently does not share the same linguistic world as the rest of us. A fudge and a fix it most clearly was, providing an inauspicious start for a mas- sive and risky project Not much noted was the fact that Jean-Claude Tric- het, when eventually he gets into position, will serve the full eight years.

Coupled with Mr Chirac’s revealing words at the press confer- ence about the need to pre- serve France’s position within Europe, we can all see what precisely the impli- cation of the fridge and fix actually is. What also seems in ques- tion now is the earlier deci- sion to adopt the eight-year term; four years Is surely enough for any one country to possess this position, unless of course one actually believes that it will be free of political interference.

Harold W JO. Hughes, 16 Wingfield Road, Kingston-upon-Thames. Sir, The French should be admired for their adherence to principle: the principle that all international organi- sations should be headed by a Frenchman. However, if the deal reached at the weekend was an informal one. It depicts a Europe afloat In a geographical limbo, symbol- ising, perhaps, a Union devoid of a cultural and political context?

April 30 , I wander why ships are not fitted with devices similar to the tracker that can be fitted to a car to locate it in the event of theft. It cannot be so difficult to invent a device that can communicate with a base station via the satel- lite links used by, for exam- ple. Because of our small size and relatively recent origins, the University of Bucking- ham, the UK’s only indepen- dent university, would not weigh in with the heaviest weights in your table.

But in terms of a number of crucial indicators we would rank with the best in terms of staff; student ratio, pm 1 capita library expenditure, employ- ability of graduates, and international student body.

The greater diversity of col- leges and universities in the US is sadly missing in the UK because or the increasing level of state-led direction to higher education here. Robert H. Taylor, vice-cbancellor. It is in all our interests that the ratification will pro- ceed smoothly, thus paving the way for integration of other aspiring members into tiie structures that have cre- ated and sustained peace in Europe since However, your leader con- cludes that there is no need to rush with further enlarge- ment, especially in view of Russian sensitiveness.

I hope that you will agree that this is not the issue for injuring words. Furthermore, allow me to emphasise that it will not be the sequence of accession to Nato that will determine the security of Europe, but the total Goal concept of Euro- pean security that emerges from the enlargement of Nato and the European Union. The Nato Madrid declara- tion clearly stressed that the process of enlargement will continue without excluding from consideration any European democracy regard- less of its geographical loca- tion.

This Is the corner- stone of why the enlarge- ment of Nato should continue after the first three states are accepted. On these grounds 1 cannot agree with your cautious attitude vis-a- vis further enlargement. This is an historical moment offering yet another possibility to create an undi- vided, peaceful and demo- cratic Europe.

The new members of Nato will not just be security importers but producers and exporters. This will enhance and not diminish the security and stability throughout Europe. Normans Penke, ambassador. Many -tinware program, will have problems coping with the year 2fli 0. And so will you when ihf two-digit ywr cranes take you hack, to POD instead ot’ mro the next millennium. This problem is jlru. Currency conversion support, multicurrency capabilities and Internet applications mean you «int get caught out by the Euto or m»s new business trends.

NAP b ready lor the future. But that’s nor all. Alter a brief implementation phase. SAP’s R. J standard enterprise software automates essential workflows throughout your organisation. And with networked fi nance, manufacturing, sales, personnel and other departments, you’re guaranteed better information and faster decisions. V is quite simply the perfect solution tor companies ot’ aH sues and tram all won of industry.

Fax But If interest rates rise sharply, the model may prove brittle T he US economy shows persistent strength.

High real interest rates, trade drag from Asia, a stronger dollar, fiscal restraint – none of these has been sufficient to sap the economy’s momentum. Why has the US economy performed so well in spite of so many restraints? The strength of the stock market is the main reason why the per- sonal saving rate fell to a year low last year why save out of Income when the stock market boosted house- hold net worth by 13 per cent in ?

Strong growth has generated rising earnings, pushing up share prices, fostering greater investment, increasing capacity and restraining inflation. Low inflation has helped to extend the life of the business expansion.

Hie longer business expansion has boosted the equity mar- ket further by shrinking the equity risk premium. If recessions are less frequent, equities are less risky. As a result, investors are willing to pay more for a dollar of equity earnings.

As the equity market has continued to rise, the circle has become increasingly vir- tue os. For example, the stock market has helped hold down compensation expenses. Benefit costs have been restrained because many companies have not had to make contributions to defined benefit plans; they are fully funded as a result of the stock market’s strength.

Pressures for higher wages have also been restrained as share options have become a more impor- tant component of compen- sation.

Capital gains tax receipts should climb to nearly JlOObn this year, up from S44bn in The importance of the stock market in keeping this virtuous chide intact cannot be overstated.

To illustrate this, Gol dman. The chart shows that the addition of the stock market has caused the financial con- ditions Index to diverge sharply from the monetary conditions index in recent years.

The stock market rise has overwhelmed the restraint exerted by a stronger dollar, making financial market conditions easier.

Based on monetary condi- tions. But looking at financial condi- tions, one readies the oppo- site conclusion. So what does this imply for the economy and interest rates7 First, ft suggests the econ- omy will continue to be more robust than expected.

Certainly, the pace of growth will start to slow to the sec- ond quarter, but this is largely for one-off reasons and is likely to prove tempo- rary. Second, it implies that financial market conditions will need to be tightened. Excluding a collapse in equity prices or a dramatic strengthening of the do llar. Fed officials will need to push up interest rates in order to tighten financial conditions and restrain the pace of economic growth. How much tightening might be required?

While the answer depends on the reac- tion of the stock market and the dollar to such tightening the financial conditions index suggests that a signifi- cant rise in rates could be needed. This means that, if share prices and the dollar were unchanged, it would take a rise of more than basis points in both short- and long-term interest rates to posh the financial index back to the level reached at the end of In practice, the dollar and share prices would be affected by a rate move of such magnitude, which would limit the extent of the rise needed.

But the point remains valid. If the equity market and the dollar are not unusually sensitive to changes in interest rates, it will take much more than the 25 to 50 basis paints of tightening that some people are arguing wiU be needed to restrain the economy. Just as serious an issue is whether Fed officials would be able to engineer a soft landing. The problem is that an economy that depends for support on a healthy stock market and a virtuous circle may be strong, but it is also quite brittle.

It could become sick quite quickly should the stock market sink and the virtoous circle end. The boom and bust in Japan is a good example of this. If share prices were to decline sharply, consumer spending would sink as households responded by raising their saving rates.

Investment spending would also falter. Not only would the cost of capital rise as equity prices fell, but busi- nesses would question the need to expand capacity when consumer spending was faltering. The benefits of a strong stock market – lower benefit costs, more tax receipts – would also evaporate, rais- ing questions about the new economic era. It might be difficult for Fed officials to modulate monetary policy precisely enough to slow the economy, but avoid an eco- nomic downturn.

This underscores the big- gest error of monetary policy m recent years. The economy would pe less vulnerable to a mone- «ry tightening that could turn a virtuous circle into something vicious. Tte author is director of US economics research at Gold- man Sachs » Mr Chirac claimed his dis- pute was only with the Nether- lands, not with Germany.

In the long sweep of the Franco-German relationship, enshrined by Adenauer and de Gaulle in the Elysfe treaty of , the central hank row could be recorded as just a blip were it not for an accumulation of irri- tants and strains in many other areas.

On reform of EU institu- tions, France has taken a stand not with Germany but with Italy and Belgium in favour of more decision-making by majority vote. In armaments cooperation, the French state’s dithering about privatising its defence holdings is causing a break-up erf joint ventures with German com- panies.

In foreign policy, Bonn and Paris have recently found themselves somewhat at odds over how the EU should treat Turkey. On top of all this. Mr Kohl just does not get on with. Mr Chirac as well as he did with the late Francois Mitterrand. Reciprocal bargain At the same time, one should not idealise the Franco-German rela- tionship of yesteryear. The two countries have indeed acted as the motor of European integra- tion. They did so at the outset, with their reciprocal bargain of a common market for French’ food and German industrial goods.

They went on to inspire the cre- ation. At odds But the two countries have fre- quently been at odds ova: tax. The Chtrac-Kohl spats are not the first between their leaders. EU debates on multilateral trade, European defence or even dec- tricity liberalisation, tend to polarise around German and French positions.

Bringing these two positions together is often the secret of getting wider EU agreement. Bat such agreements cannot be at the expense of either EU mem- bers. The Netherlands must be feeling this week that in the end, Germany sacrificed Mr Duisen- berg for France. Equally, there is even less excuse for such a di recto i re, now that Tony Blair’s Britain looks set to play a foil EU role by edging closer to the euro.

In the next couple of years, the EU will have to reform its finances and policies in advance of enlargement. These reforms cannot and should not be settled by Franco-German fixes, but could be complicated by Franco- German rows. French and Ger- man leaders should therefore start, at Avignon, to try to put their b ilater al relationship an a sounder footing, starting with an acknowledgement of recent prob- lems. Benjamin Netanyahu has managed to reach one, par- tial peace agreement with the Palestinians, and that was 16 months ago.

This involved a pro- longed renegotiation of an over- due Israeli commitment to hand back most of the West Bank town of Hebron. And this after the US had persuaded the Palestinians to accept about a third of what they had expected at this stage in returned West Bank land. Like all agreements reached under Oslo, Hebron sought to build a bridge to the next stage in the process. But there have been oo withdrawals, because Israel first offered a derisory amount of territory, and then threw the whole process into crisis by expanding Jewish settlement or occupied Arab east Jerusalem and the West Bank.

Yassir Arafat, the Palestinian leader, said in February hewwild down farther. But alter two days of intensive talks in London, Mr Netanyahu has still not accepted. The right-wing nationalist Israeli leader wants to retain aD the cards before negotiations on a final settlement – which under Oslo should be concluded on May 4 But be clearly envisages no more than administrative self-government for the Palestin- ians, on at most half the West Bank or roughly a tenth of his- toric Palestine.

Reflect and consult president B31 Clinton has now invited the two leaders to Wash- ington next week, to give Mr Netanyahu same days to reflect and to consult with Ids right wing cabinet aiHaa. It is already clear that while he may swallow the IS per cent withdrawal he wants either to fridge the rest of the US package or so dilate it with con- ditions as to place its worth to the Palestinians in doubt Israeli pressure through Mr Netanyahu’s allies in the US Con- gress has prevented the adminis- tration from even making public its modest proposal.

It should now do so. Fur this is surely the last chance for Oslo, which is the key to a comprehensive Middle Kjxtt peace. If Israel will not meet such modest demands, it will be impossible to believe its current government wants such a peace.

If there is no real movement by the Hebron deadline moreover, the loading Arab states have said they will consider the peace pro- cess dead and re- examine from scratch their relationship with Israel. European Union countries are coming to similar conclu- sions. But what of the US?

Washington cannot enforce a solution. But both as regional polic e man and as Israel’s friend, it has the responsibility to set out what it believes the solution should be- The equation is sim- ple, if not simply arrived at; The Palestinians most eventually hove a state as file logical condu- sios to the Oslo process. This is the only way for their rights to be met and for. Ryutaro Hashimoto.

It all seems for naught. Many commentators believe growth this year may well he zero. Japan seems condemned to persistent stagnation. The corporate sector is in just as dire straits. Three of the coun- try’s Wg five carmakers – Mazda, Motors and Nissan — are hardly making a return above their cost of capital, if at all.

Japan Airlines announced last month it expected to make group net losses of YTObn for the past fiscal year. The airlines, along with ofl flt nd steel w u npanwn, are all severely underperforming.

And about half of second-tier companies are trading near or below their break-up value. But help may be at band. A few Japanese companies are adopting Anglo-Saxon methods to boost profitability, cash flow and share prices. After all, this was the nation that perfected just-in-time management and introduced the world to the con- cept of continuous improvement. But many others are woefully inefficient Often protected from outside competition by nan-tariff barriers, most have been obsessed by capacity increases, market share and sales growth.

Some invest oblivious to the need Of mnlrlng a return on capital, spending on projects that can never recoup the cost of invest- ment In other words, they have been destroying value.

The result is that the average return on equity for Japanese companies last year was just 4 per cent against 20 per cast in the US. This is not just the result of the recession: a particularly damning statistic is that the return on equity of the biggest companies on the Tokyo stock exchange peaked as long ago as , according to SBC Warburg.

The scale of the mismanage- ment is astonishing, says Step- hen Hay, head of research at Goldman Sadis in Tokyo. He esti- mates that, on average. OOObn through investing in projects and plant that generated negative returns. This maSSjve »rri«»TtncMtinn of capital was just about sustain- able during the s.

Everything hag changed. Now the economy is in recession. Many pension funds, burdened by poor returns from their invest- ments. There are signs that this bleak enthusiasm. Shares in Sumitomo Metal Mining jumped 18 per cent on its announcement of a buy- back last month, while Nippon Steel’s shares rose 15 per cent Shareholders like buy-backs because of their potential effect on poorly structured balance sheets.

A third of bluechip com- panies have net cash on their books. Since debt is cheaper than equity, it often makes sense to borrow money to reduce the are beginning to be threatened by the loss of their jobs through mergers and acquisitions.

But as in some continental European countries, such as France and Italy, these cross- situation is prodding Japan’s shareholdings are gradually more imaginative companies into making structural changes.

Unable to obtain financing from banks, they are being forced to turn to new sources of cash – either from the bond market or from shareholders. For the first time, Japanese companies are having to consider the interests of investors. Shareholders are pleased because return on equity goes up, while employees – the traditional stakeholders – keep their jobs. Japanese financial insti- tutions are under pressure and talking about thing s that even months ago they were reluctant to consider. So what tf these crucial comm ents appeared in the less than agenda-setting pages of feminist magazine Optij?

But Paris won’t be too concerned about the fighting taBc emanating from frte north-east The reaHsts in the Bysee wffl know as wefl as anyone that the tough message is primarily for domestic consumption: the Dutch government after aD, faces a general election today.

What a turn-off Hard to beDeve. An organisation catted La Coupe est Plekie The Cup is FuH plans early next month to send Its growing list of members a newsletter giving details of non-footbat-ralated events throughout Franca during the tournament. R also intends to opal an internet site. La Coupe est Plains already boasts members and Christine Lam.

A lawyer by training who later switched to theology – he has a PhD ki canonical law – Christodoulos speaks five languages and has promised to spruce up church policy. Improving relations with relations with other churches is ora priority.

Grade Orthodox bishops have been bickering with Istanbul-based Patriarch Bartholomew, spiritual leader of Orthodox Christians worldwide, over ownership of church e s tates in northern Greeca Relations with the Vatican are cool. But being modem has Its limits.

Younger clerics planning to take trim their bushy beards should think again. Opposition leader MHos Zeman Is doing most of the cooing. The would-be premier has produced what purports to be evidence that the resignation last November of prime minister Vaclav Klaus was a conspiracy hatched between rebellious cabinet members and President Vaclav Havel His documents also allegedly showed that Jan Rum!

Ruml denies the allegations and says Zeman is paranoid. Last year, he took a briefcase of documents on government corruption to Havel – but was sent packing when they were shown to be forgeries.

But not every former Warsaw pact country has welcomed one-time double agents back into the fold. Take Istvan Belova, once of Hungarian military intelligence, who in had a change of heart and blew the whistle on what became known as the Conrad spy ring.

This rankles with a man who reckons he helped avert a third world war; Bel oval may be living safely in toe US but, like his Polish counterpart, he wants a full pardon. More- over, not all companies that announced buy-backs have actu- ally implemented them. And share option schemes still repre- sent only a tiny proportion of remuneration compared with the US. As for mergers and acquisi- tions. Dis- closure by Japanese companies, is below western standards, making it difficult to know exactly what is being bought.

Maybe only 10 per cent know why they are doing it, but the other 90 per cent will have-to learn. But once cash becomes a precious com- modity, it immediately leads on to the next stage – allocating capital efficiently. Japanese companies did not care about allocation of capital, nor the return on that capital.

They invested in all their busi- nesses and if they ran short qf cash they just borrowed from banks. Now a few companies in each sector are beginning to use cash-flow techniques to work out the return on each project.

The logical conclusion is that many non-core businesses will have to be sold, with the outsour- cing of, for example, information technology or distribution depart- ments.

A few companies are already doing this. Cosmo Oil, for instance, has outsourced its com- puter operations to Intec, a Japanese computer services group. These changes are happening. Few com- mentators, for example, are pre- dicting companies to annomfce mass redundancies in their non- core operations. Even the most radical are likely to place sqph businesses in subsidiaries, selling tl ym at a discount and thus per- mi ting the buyer to keep on fhe employees.

Sims of Providence, “a millionaire several times over, is now acting as chief engineer on board one of the United States cruisers. A Government compromise on tills issue, which the Prime Minister said he would make a question of confidence, was rejected by Socialists in the Chamber at Deputies this afternoon. In dones ia might be looking Uke a recov- ery story. Alter all, President Suharto seems finall y to be drinking the unpleas- ant medicine needed to stabilise the econ- omy.

Unfortunately, it is precisely mea- sures like this week’s 71 per cent rise in petrol prices that are stoking the student protests. This carries risks for investors. One is that Mr Suharto will go slow on economic reforms out of fear of antagonising his people. The other is that the protests will Sweep him from power.

Of course, many investors would be delighted if a credible new leader could be installed smoothly – such is Mr Suharto’s reputa- tion for backsliding and cronyism. The snag is that unseating him could provoke a bloodbath. Fes 1 anybody determined to take a punt, short-term government paper is probably the best bet The tight monetary policy means this provides a good return in local currency terms.

Internet stocks -Plain old websites are getting baring. The logic is persuasive; tlje best portals will attract the most web traffic, allowing their owners to sell the most advertising. Follow- ing a recent link between Yahoo! Investors have greeted these deals enthusiastically, as a sign that the inter- net might, be on the verge of becoming a money spinner.

But because it is far too early to pick the winners from this largely lass-making crowd, they have sent stocks soaring across the board.

With Yahoo! Hoechst With a share price performance resem- bling the Matterhorn, Hoechst presents a wonderful example of two big pitfalls for investors. The first is of a management talking a good story, but failing to deliver.

The second Is of the market underestimat- ing the difficulty of imposing radical change on ossified businesses. But expec- tation and reality now look to be in kilter at the drugs and chemicals group. The odds are shortening on pleasant surprises. At the heart of the group that Jflrgen Doxmann, chairman, is reinventing is Hoechst Marion Roussel, the drugs and agrochemicals b usine ss.

But now that the overpay- ments are history, attention should turn to prospects. Hoechst has promised two drug launches a year from , per cent annnal sales growth and margin Improvement. That makes the group’s market value of three times the drugs unit’s sales – the global leaders are on Kmwi — look rmrfpraanrfing Such a view would be reinforced if the long-drawn out disposal of the industrial chemicals side, with DM22bn of sales, can recoup the group’s near DMl7bn net debt This would leave agrochemicals and vari- ous other investments in the current valu- ation for free.

North Sea oil tax Is the UK government earning sufficient rent from its hydrocarbon reserves? Gor- don Brown thinks not. With a consulta- tion document on a new offshore fiscal regime overdue, the oil industry is ner- vous. The hardest hit proportion- ately will be independents, such as Hardy, Monument and Enterprise, but the majors will not escape unscathed. Halving the oil allowances – cur- rently used to great effect to minimise tax liability – would be another way of milk- ing the cow.

Alternatively, levying a sup- plementary corporation tax – against which. Interest costs would not be deduct- ible – would at least be straightforward. Since develop- ment decisions for less robust pro- jects are on hold until clarity on the fiscal regime emer ges, drawing this consulta- tion process to a rapid close should be a priority.

Worth Trade News 4 Arts. With pressure low. The central Mediterranean will be showery, but i”. Scandinavia wilt -L. Central and western Europe w0I become warm and mainly stemy. TemperaTures maximum for day. Fft, 19 Rota 12 Edntwgh Ban 13 We can t change the weather. But we can always take you where you want to go. The National Association of Pur- chasing Management said its mem- bers expected overall business condi- tions to continue to improve after a robust start to , but the effect of the strong dollar and the Asian financial crisis would bite deeper into export prospects.

In its half-yearly economic survey published yesterday, the association found that 52 per cent of respon- dents expected conditions to be bet- ter in the second half of the year than in the first Asked about the outlook for the next 12 months, 59 per cent said they were op timi stic, the same as reported last December.

This Is the highest level since May The report will raise new question marks over the direction of policy taken by the Federal Reserve. Fig- ures last week showed the economy grew at a rapid 4. But if the economy does maintain Its pace of growth, as purchasing managers expect, some members of the Fed’s policy-making open market committee will press for a rate rise sooner rather than later. Mare likely would be a move at the subsequent session an duly 1 – 2 , if the economy is still Fvpanding – rapidly.

More executives now expect prices to decline in than are forecasting a rise. However, manufacturers have become noticeably more pessimistic about export prospects. One-fifth of respondents expect either a substan- tial or a moderate decrease in export. Separately, the Conference Board, a private sector research group, reported that the index of leading indicators, which predicts economic activity in six to nine months’ time, rose by 02 per cent in March, led by strong money supply growth and a rise in stock prices.

Alan Greenspan, the Fed chair- man, met President Bill Clinton yes- terday for talks about the state of the economy. Diplomats said the sudden souring in relations between Asia’s most populous powers was almost certain to become an issue for US diplomacy before planned visits by President Bill fflintnn to Beijing in June and New Delhi later this year.

Such warmth irks New Delhi, particularly because China is one of the staunchest allins of its arch-rival. Sujit Dutta, a s enior fellow at the United States Institute of Peace in Washington, said there was a sense in New Delhi of an increasing US tendency to treat China as a protago- nist in most of Asia’s security issues. This should be balanced by greater US dialogue with other countries fo the region, he said. Diplomats in Beijing said that by identifying China overtly as a secu- rity threat.

New Delhi was availing itself of a stronger argument against any pre-s ummi t intensification of US pressure to sign the Comprehensive Test Ban Treaty or the nuclear Non- Protiferation Treaty, which seek to curb the spread of nuclear weapons. There was a sense in New DeB that, if Washington persuaded China at the June summit to sign the MI gftp Technology Control Regime, thfa might result in increased pressure on India to make re ci procal anas control concessions.

By signing the accord, China would have to stop exporting missile technology. China, which shares a 3,km border with India along the ffimaTfl. Michael Kors Luxury accessories and ready-to-wear Bags, Footwear and accessories brand established in Thomas Pink British shirt authority Apparel and accessories for men.

MarcoMancini Suitings, Shirtings Fabrics. JioSecurity Protect your phone, secure your data Power against threats to digital life. Protects your device 24×7 proactively against risk apps and virus attacks. Rishtey Cineplex Movies Hindi Movie channel. Nickelodeon Kids Channel Comedy destination for kids. Sonic Kids Channel Action and adventure entertainment for kids and young adults. Infotainment In. Better Photography Photography Magazine Magazine for photography enthusiasts.

Better Interiors Interiors Magazine Magazine for interiors ideas and design. Overdrive Auto Publication Publication for auto enthusiasts and users. Capital 18 Investment Investment arm of Network Sir H. Reliance Hospital Hospital to provide international quality healthcare services Foundation Hospital.

Yearly Review 43 Highlights and Key Events Brief overview of business performance and other events during the year. Strong vehicle sales growth and improvement increase in major commodity prices. The sustained rise in road freight transport following stabilisation of GST in global trade was led by a pickup in import demand in are further positive signs for continuing demand growth.

Global oil demand growth remained robust at 1. Gas from base of MyJio became the fastest have been awarded. JioTV was awarded approved by the Management Committee of the block.

Higher interest and depreciation Digital Services business. Reliance Retail recorded a Eight new crude minimise fuel consumption of Jamnagar site is expected demand dynamics. Hital R.

Meswani C Borar Srinivas P. Logistics and Market access and Petrochemical supply-chain responsiveness Intensity. OPEC supply at 0. Oil demand growth was distributed across contracted by 0. Demand growth for diesel got strong as well as sharp production declines in Venezuela.

Saudi support from broad based economic growth across Arabia shouldered a majority of the agreed cuts reducing its the globe. Diesel demand rebounded in after decline in CY Oil Prices Gasoline demand growth is Car sales conventional growth in China expected to be supported by growing demand slowed down in CY as a result of in emerging markets aided by rising incomes. Better performance against benchmarks recovery supporting strong demand growth. The combination of latest transportation fuels.

Gasoline demand grew by Organisation agility to respond swiftly Change in Law Emission standards Enhancing customer experience. Global Flexibility and Leadership Scale Integration. Healthy supply demand fundamentals Approximately 6 MMTA new capacities are expected to bolstered petrochemicals operating environment and start in followed by another 2 MMTA in Additional resulted in strong petrochemicals margins.

The demand for during but witnessed sustainable operation above the propylene increased by 4. Asian 5 year high chain margin across the polyester chain. Capacity addition in upstream contributed to improved integrated chain margins for Reliance with reduced dependency on feedstock sourcing. The global capacity of PBR is 4. PVC 0. PET 1. POY 0. R Elan fabrics are currently placed into three key buckets for apparel applications.

The complex is also. Reliance continues to focus on value preservation in the North America Shale Gas business. Operational Performance — Domestic management to overcome network and operational Production Performance challenges. Plugging and abandonment of all the Tapti wells has been completed. Decommissioning activities for the associated facilities have been initiated. There has been a revision in target encouraging initial results.

The wells were very is an ideal transition fuel and stranded successful. The key components CY Matter is still pending in the Supreme Court. Production from these projects is expected to provisions between Claimants and Government. Social Responsibility. This has helped many cities. Subramaniam V. Customer focussed Partner of Multi-channel strategy robust ecosystem Choice.

Customer Centricity Relentless focus on serving customer needs. These brands are available across Reliance quality products across entire grocery needs of a household. Each of these brands caters to Reliance Retail has established Jio Store and Jio Point as the diverse tastes and preferences of the customers. Trends is vertically integrated with complete tremendous reach to partner brands.

The device used to trigger an alarm and the user gets an option would instil a sense of to 5 emergency contacts. When the control room. Strengthening its product 28 states. ResQ carried out over 1. This newer store concepts like Project Eve and Trends expansion will be achieved through the following key pillars: Woman. Community of the employees. Rural teledensity All of this spectrum is Seamless converged coverage and abundant capacity liberalised and can be used for rolling out any technology.

Connectivity for every Indian — with bouquet of digital services. High speed video ready network. One of the widest reaching networks globally — spread across cities and villages.

This initiative has been hugely popular with unprecedented demand and adoption. Extend the peak. Subscriber Penetration. Reliance media portfolio includes Network18 group and investment in partnerships to strengthen content for Jio platforms. Thought Network Strategic Brand leadership synergy collaborations excellence. News channels put together.

Digital business Digital Content includes Moneycontrol. Digital Commerce includes HomeShop18 and Bookmyshow. This opens up the target These growth aspirations represent the principal inspiration market to beyond smartphones and even include feature behind the following strategic moves during the year. Lessons in Leadership with Satya Nadella Mr. The infrastructure for opportunities. ERM enables Reliance to manage its risks within B The Integrated Approach acceptable limits by using risk mitigation techniques and Reliance acknowledges the interdependence of business allocating necessary resources.

Along with judicial mix of with this privilege comes the responsibility to create value. Every manufacturing location works towards minimising its environmental footprint and endeavours to be in harmony with the ecosystem.

Reliance undertakes stringent monitoring measures to prevent spills during handling and transportation of materials. The Company monitors spills through an online Preserving Flora and Fauna incident reporting system and has a robust system to Reliance regularly engages in initiatives such as tree prevent operational spills.

Monitoring environmental footprint Action Taken: 2. Reliance fosters a culture that is performance oriented, promotes rewards for results and provides equal importance to achieving results. Reliance is committed to building a system that encourages Workforce Breakdown Reliance Group Agewise the development of future leaders from within the folds of the Company.

The Company has expanded communications and education campaign to ensure that the learners are fully aware of the resources available to them. Seamless blend of learning and work. This programme reinforces the values and behaviours that employees are expected to demonstrate through its tangible and digital tools i. Periodic medical examinations. Conformance to the OMS is a dynamic process reporting concerns. This is being accomplished by driving a Reliance also takes into account global standards and strives mature governance and management assurance process.

All innovation opportunities. Nobel Laureate Nobel Laureate Dr. William Prof. Gary Prof. Coal Bed Methane — converting unminable coal to methane. The innovative phone brings in Pilot plants in over 40 acres of land to develop algae on features of a smart phone in a revolutionary device with its sea water and convert biomass to biofuel proprietary operating system KaiOS.

Key Manufactured Capital Outputs Petrochemical production The processes in its value chain. This includes the requirements. Action Taken: Outcome: A new system for cleaning Process safety and risk the spinnerets in the reduction. This initiative will data and communication platform.

The partnership aims to combine BP’s enhancing the digital ecosystem. With the need to communicate through sign darkness to 4G. His letter to Smt. He was able to get well as revenue. A common scene in the trains nowadays is of breathed new life into his business. Nikhil R. Meswani Harish Shah Laxmidas V. Enterprise Risk Management 1 Introduction Reliance actively stimulates entrepreneurship to avoid harm to employees and the community.

The current compliant operations. Given the limits and other boundaries within which decisions volatile markets and economic climate in which it shall be taken or activities shall be carried out. A separate Safety and amount of port and terminal infrastructure. For incident response in shipping reduction or elimination.

Accountabilities for formal documentation and cascading has been risk reduction actions are clear and actions completed. Contractors are able to use these in an integrated way to deliver safe operations Reliance has made good progress in enhancing while on contract with Reliance.

The transition to the OMS was prioritised Road transport contractors have been with a proactive focus on incident prevention. Conformance to centre for road transportation in the country so OMS requirements are continuously monitored that contractors can immediately respond to through a three lines of defense model. These any emergency. A comprehensive and digitally risks to manage its physical security. There have disruption or an incident. Reliance also maintains to Reliance. The Group Audit function is mandated to provide assurance 3.

Reliance is moving to a digital strategy that leverages of value. The Reliance digital services platforms strategy the new digital and cloud capabilities to create new value includes the rollout of 4 key elements: propositions for the businesses and markets in which Reliance operates. Reliance has taken a comprehensive approach towards development, striving to maximise its impact and reach the unreached. By working at the grassroots level, the Company has already touched the lives of 20 million people, and endeavours to build a more empowered India.

Reliance has strategically chosen the economic growth. The Foundation was established in under the leadership of Smt.

Reliance Foundation focuses on its social initiatives with a with the communities and penetrate into the critical issues three-pronged strategy: that are physically untouched through direct interventions. These technological interventions connect communities on multiple digital platforms for optimum Reliance Foundation directly engages with the communities use of resources, informed decision making and capacity through a team of trained professionals.

It collaborates with building. This has been greatly aided by the emergence of Jio the communities right from understanding their needs, Infocomm as a major player in digital services in recent years.

In the process, progress in reaching out to the people with various products Reliance engages the community members in planning and and services such as information advisories, digital implementation, empowers them through trainings and classrooms, virtual sports clinics, record keeping of patients works towards scalability and sustainability of the initiatives. These partnerships include state and local contribute to social causes.

Periodic inputs are obtained governments and non-government organisations working from employees on their interest to contribute to a at the grassroots level. Reliance collaborates with the particular cause.

Rural Transformation Health. The adopt healthy, active lifestyle over 13, scholarships since programme reached out to 4. Some of these leaders are also elected by rural communities through its rural transformation people as representatives of Gram Panchayats, programme.

Key initiatives in this programme include given their active participation in community building rural institutions, making villages water secure, development initiatives. Owing to capacity building of farmers for better price realisation. Moreover, several villages have reported an increase in ground 1. Assessments show that addressing local social development issues. Through this initiative, over 96 billion equity into producer companies, savings and thrift litres of water storage capacity has been created activities.

Village Transformation by a Woman Leader Smt. Lachchho Bai Dehriya and had a vision for holistic All these inspired her to tobacco shops, after which age 62 is a housewife hailing development of her village contribute to the village and the Gram Sabha submitted from Chikhla village of Seoni and the need for women to women around her.

The Police Station Her life was distressed Equipped with her enhanced of Kurai block awarded her when her husband was After she joined the leadership skills, Lachchho for this initiative. Under her struck by paralysis. With a rural transformation Bai led a thrift group of 30 leadership, the village has limited farm income from programme in , she women to win freedom from made substantial progress just 2 hectares of land, received support in land exploitative money-lenders.

During all these and exposure visits to issues such as alcoholism. After technical for small and marginal of operations.

With predominant assessment, Reliance farmers. During , rain-fed agriculture and lack constructed a check dam Reliance initiated an The study looks at indicators of irrigation, the farmers that helped assure irrigation impact assessment of such as improvement in were unable to cultivate of 80 hectares. This has resulted methodology. In these villages, these aspects.

To help the farmers power of farmers. So far, Reliance has mentored 19 overcome this challenge, Reliance empowers them FPCs, spanning 10 states. RF-mentored FPCs had 21, farmers associated These farmer-owned and farmer-driven companies with them.

The content up Reliance Nutrition Gardens. This initiative is essential features in it disseminated through the aimed at improving nutritional outcomes of 0. The app livelihoods. The Company encourages small farmers to initiate goat-rearing, poultry, nursery raising and vermi-composting, among others.

This is increasing the supply of cultivable land; enhancing disseminated both digitally and through community the green cover through large-scale plantation level interventions that include information on activity; and improving soil health. The mobile- The Company adopts eco-consistent soil based advisories have reached an additional 1.

Overall, these advisories an additional 7, hectares 64, hectares have reached out to 4. This has led to an improvement in soil knowledge dissemination. Reliance observed the World Environment Day and motivated rural 1. The development of roads is a turning point for many of these villages as Reliance endorses the protection of the soil eco- it has improved access to local markets, schools and system. It conducted over 11, soil health tests healthcare facilities.

Providers NABH. A large number of patients with Contribution to Village Social Transformation complex medical issues have been treated here. As part of this, During the current year alone, the hospital has Reliance is demonstrating Early results from the direct successfully performed 6, procedures with a comprehensive model engagement by Reliance in excellent outcomes within a strong ethical of rural transformation.

It works per annum. The Hospital organises health awareness programmes to empower people to take informed decisions on health issues. It strives to improve awareness 5, people. The year. The surgeries, cochlear implants and cancer therapies. Collectively, the health programmes have reached out to 2. These services include preventive care, maternal and child health, specialised care for patients with cardiac and kidney problems, palliative care for terminally ill cancer patients, etc.

Awareness to a large number of patients every year, and saved was further created to reduce the stigma and many from death and permanent disability.


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The group derives added value from working closely with various trade business units and IT groups, and by ensuring that ABN AMRO’s trade capabilities are used in an optimal fashion. Meswani Shri P. Нажмите сюда reforms cannot and should not be pnujab by Franco-German fixes, but could be complicated by Franco- German rows. Net resources at the end of last year were gLSbn.