Editor: Pat Williams. E-mail pwilliams@creditman.co.uk
John Arnold. E-mail jarnold@creditman.co.uk
Site: Business Credit Management UK
URL: http://www.creditman.co.uk
Issue: 58
Dated: 19th April 1998
Welcome to the Business Credit News UK.
In this weeks edition you will find the following topics.
UKRENEWED GROWTH FOR FINANCIAL SERVICES BOOSTS CONFIDENCE SAYS CBI/COOPERS & LYBRAND SURVEY
Business activity in the financial services sector grew strongly over the past three months fuelling a revival in business optimism, according to a Confederation of British Industry/Coopers & Lybrand survey out last week. The survey, which covered 209 companies involved in financial services, shows that 53 per cent of firms reported an increase in business volumes over the past three months, compared with 16 per cent who reported a fall. This leaves a positive balance of 37 per cent: the highest figure since June 1997. It compares with a positive balance of five per cent three months ago.
Security traders and finance houses noted the largest increases in business while venture capitalists and to a lesser extent general insurers noted a fall over the first quarter.
Business confidence rose for the first time since June last year. A positive balance of 18 per cent of companies said they were more optimistic compared to a negative balance of nine per cent three months ago. Fund managers, securities traders and insurance brokers noted a sharp rise in confidence, while building societies and general insurers noted significant falls.
Sudhir Junankar, CBI's Associate Director of Economic Analysis, said: "Our survey shows that financial services have recovered strongly since the turn of the year with an unexpectedly large increase in business volumes and a bounce-back in business optimism."
The recovery in business optimism, reversing the decline in the last survey, in part reflects less concern among financial services companies that demand conditions will hamper prospects. However the pressure from domestic competition is intensifying and seems set to restrain the ability of firms to boost profits growth."
The survey shows that a shortage of professional staff continues to be a problem for many financial services firms and has risen as a factor limiting business prospects to its highest level since the survey began in 1989.
David Sayer, a partner in Coopers & Lybrand's Financial Services Division, said: "In order to carry out the enormous number of programmes needed to counter the high levels of domestic competition, to achieve EMU and Year 2000 requirements and to continue to optimise the cost-income equation, financial services organisations are focusing heavily on professional staff.
"A record proportion of respondents believe they lack professional staff with a massive 71 per cent of fund managers and record high proportions of general insurers and banks concerned. The numbers employed are up by the second highest proportion in the survey's eight years and increases in training expenditure are relatively widespread."
The survey shows that domestic competition is now the most likely constraint on business prospects over the coming year. It has risen as a limiting factor to its highest level since June 1996. This is followed by the level of demand: although this is a concern to only two out of three respondents surveyed - one of the lowest proportions recorded since the survey began.
Over the past three months total operating costs increased for the highest balance of respondents since June 1996. However many fewer firms expect costs to rise over the coming three months. An upward trend in profitability has been reported since the latter part of 1996 and is expected to continue in the next three months.
Investment in IT is expected to remain buoyant over the year ahead with intentions more positive than in the last survey. The most likely constraint on planned investment over the coming year is an inadequate net return on proposed investment, cited by two thirds of the firms surveyed.
The CBI/Coopers & Lybrand Financial Services survey covered 209 financial services firms, including; banks, finance houses, building societies, general and life insurance companies, insurance brokers, stockbrokers, fund managers and venture capital companies. The survey was carried out between 25 February and 11 March 1998.
KIM HOWELLS APPOINTS TWO NEW MEMBERS TO CONSTRUCTION INDUSTRY TRAINING BOARD
Kim Howells, Parliamentary Under Secretary of State, has appointed the following new members to the Construction Industry Training Board (CITB) with effect from 1 April 1998:
Dr Howells has also made two re-appointments to the Board as follows:
All the posts are part-time and unpaid. The appointments follow an announcement by the Minister on 3 October 1997 that the CITB is to be retained for a further five years following a review of its role and purpose.
COMMENT ON INTEREST RATES
Kate Barker, Chief Economic Adviser at the Confederation of British Industry, said last week:
"The CBI is pleased that interest rates have again been left on hold. The balance of new evidence since the January meeting points to a slowing economy. In particular, the UK's external trade may now be weakening, as the Asian crisis exacerbates the considerable problem posed for exporters by strong sterling. The domestic economy, while still robust, is not strengthening further. The upward wage pressures in some parts of the economy are more likely to be absorbed by lower margins than passed on in higher wages; and aside from wages, cost pressures are benign, with oil and commodity prices falling."
CBI ENDORSES FLEXIBLE PROPOSALS ON WORKING TIME DIRECTIVE
The CBI welcomes the Government's approach to implementing the European Working Time Directive. The CBI's position, that legislation should take advantage of all the available flexibility's for business, has been broadly endorsed.
CBI believes that the Government's proposals are sensible and practical, providing a balance between the flexible needs of employers and employee concerns over working hours. Employers have had a number of key concerns which the draft proposals have sought to address:
Individuals will be free to agree with their employer to work more than 48 hours on average a week; It will, in any case, be possible to average the maximum 48 hour week over 12 months by agreement; Methods for calculating average length of nightshifts will continue to allow 12 hour nightshifts;
Where agreements are required to take advantage of possible exemptions, these can either be with recognised trade unions or specially elected staff representatives.
Peter Agar, CBI Deputy Director-General, said: "We are pleased that the Government has chosen to take note of employers' concerns over implementation of the Working Time Directive. It is only right that individuals should have the right to work extra hours if that suits them, and that employers can retain the flexibility they need to run a business efficiently."
SINGAPORE NEWS
Contributed by Bernice Kuo, kuopb@singnet.com.sg
OnLine Share TradingSingapore will be introducing online share trading on the Internet for small retail investors. The online trading will reduce transactions cost, and this has been recommended to free brokerage rates in two to three years. The investment in Internet share trading system give Singapore an edge to move to this technology since Internet will soon become the future platform for most on line transactions. The Internet share trading system will remain transparent to the investors.
MALAYSIA NEWS
Contributed by Bernice Kuo, kuopb@singnet.com.sg
Prohibitions On New ImportsThe government bans direct selling companies to import new products as a move to stop the country's outflow of foreign exchange. The direct selling companies were told to manufacture own products or to pack own products than to market imported goods. The government will no longer renew licences or approved future applications to sell new imports. The new regulation is to help to curb the outflow of the country's foreign exchange.
Robert Half International have produced their Annual Accountancy Salary and Benefits Survey for 1998/99 including the salary details for Credit Managers and Credit Controllers.
You can find the details by visiting the website at http://www.creditman.co.uk and looking in our Special Reports section.
MARGARET BECKETT WELCOMES UK INVOLVEMENT IN NEW LAHORE INTERNATIONAL AIRPORT CONTRACT
Margaret Beckett, President of the Board of Trade has welcomed the award to a UK consortium of the contract for the new terminal at Lahore International Airport.
Mrs Beckett said:
"I am delighted that following my visit to Pakistan in January this year and after four years of hard work the contract for the new terminal at Lahore International Airport, which has been awarded to a consortium lead by Airsys ATM Ltd of the UK, is now about to proceed. I raised the project with the Pakistan Prime Minister in January and subsequently wrote about the matter. The Government, through the ECGD, has played a leading role in assisting the consortium to secure this important project. I look forward to the ground-breaking ceremony in Lahore on 27 April 1998."
LORD CLINTON-DAVIS URGES EUROPE TO STAMP OUT BRIBERY
Europe must work harder to stamp out commercial bribery, the Minister for Trade, Lord Clinton-Davis, said today. The Minister was speaking in Brussels at a European Commission Conference on achieving a corruption-free commercial environment. Lord Clinton-Davis said:
"Corruption is a scourge. It undermines the democratic process, it represents unacceptable costs to business and distorts competition.
"The UK Government is committed to open markets and to reducing tariff and non-tariff barriers world-wide; in other words, to creating a level playing-field. Corruption distorts competition and constitutes an unfair barrier to trade - it is alien to the long-term interests of business. I refuse to accept that bribery in business is inevitable and that nothing can be done to stamp out this disease.
"The UK is determined to work with partners to create a business climate to combat and deter bribery and we will use our Presidency term to progress European Union work on anti-corruption and anti-fraud measures. One way to do this is to ensure that bribery to secure business contracts becomes a criminal offence everywhere and is properly enforced.
"Governments and multilateral institutions can agree any number of Conventions and recommendations, but it is business that has to contend with corruption. The last few years have seen a growing realisation that it must also work to put its own house in order. A number of companies have drawn up their own voluntary anti-corruption codes. I welcome this.
"But despite growing efforts by business and governments, there is no cause for complacency. Bribery remains a threat and for all the good work being carried out, there is little evidence that corruption in international business is actually diminishing. It is therefore vital that we should redouble our efforts to ensure a fair and open business environment for all."
Margaret Beckett, President of the Board of Trade has announced that she has decided not to continue the disqualification proceedings which had been commenced following the Inspectors' report into the affairs of Astra Holdings plc, and formal leave to discontinue will be applied for at the earliest opportunity.
Mrs Beckett said:
"This case was drawn to my attention following the trial Judge's request that I satisfy myself personally that there remained a public interest in these particular proceedings, which were initiated in 1994, continuing to trial. As a result I have carefully considered the information contained in the Inspectors' report which also contained a number of criticisms of the Astra directors, and the letter from the Inspectors with their view that only one of the directors should face disqualification.
"On the basis of this review of the case, I have decided that the balance of the public interest now favours discontinuance of these proceedings. Although the Inspectors' report criticised the conduct of Messrs James, Gumbley and Miller I have concluded that the nature of their conduct no longer merits continuation of disqualification proceedings against them. This decision accords with the views of the Inspectors as set out in the letter they wrote to my Department in 1993. While the Companies Act does not oblige me to have regard to the views set out in that letter, I find their views persuasive. Since its re-evaluation in 1997 my Department has always been open about its contents.
"With regard to Mr Anderson the Inspectors view was that he ought to face disqualification. However, given the decision to discontinue the proceedings against his co-respondents and taking account of his present personal circumstances, I have concluded that the balance of public interest does not justify continuing against him alone.
"I have therefore decided that I should not continue with these proceedings."
Mr Colin Percy Farquharson Rimer QC and Mr John White FCA were appointed on 16 August 1990 under section 431(2) (c) of the Companies Act 1985, to investigate the affairs of Astra Holdings PLC (Astra). The appointment followed an application by the company to the Secretary of State. The Inspectors completed their report in April 1993 and it was published in June 1993.
On 3 February 1992, Mr C J Hughes FCA and Mr C J Barlow of Messrs Cork Gully, St Andrews House, 20 St Andrews Street, London EC4A 3AD were appointed joint administrative receivers of the company.
The Secretary of State issued disqualification proceedings against six directors of Astra in September 1994 under section 8 of the Company Directors Disqualification Act 1986. They were John Anderson, Martin John Guest, Christopher William Gumbley, Gerald Reaveley James, Laurence Anthony Kingswood and James Robertson Crozier Miller. Proceedings against Mr Guest and Mr Kingswood were discontinued in May 1996. The final hearing against the remaining 4 directors was due to commence on 5 May 1998.
*** Forthcoming Creditors Meetings ***
Contributed byhttp://www.insolvency.co.uk
For more detailed information and ALL the British Isles insolvency's (liquidation's, receiverships, administrations, dividends, creditors) please visit http://www.insolvency.co.uk
From 20/04/98 to 28/04/98
Number of Creditor meetings : 146
Section Company Time Venue
138 Scotland - Interim Liquidator calling Creditors Meeting
20/04/98
Bruianch Developments Ltd 10.00 am Inverness
Gylemuir Trailers (Newbridge) Ltd 10.30 am Edinburgh
Thistle Electrics Ltd 11.00 am Inverness
21/04/98
CCG Consulting Services Ltd 10.00 am Glasgow
CCG Cost Analysis Ltd 10.00 am Glasgow
Carter Consulting Group Ltd 10.00 am Glasgow
Johnson Shopfitting Ltd 10.00 am Glasgow
24/04/98
Allied Scaffolding (Scot) Ltd 10.30 am Glasgow
G & N Windows Ltd 11.00 am Glasgow
28/04/98
Thompson Leisure Ltd 12.00 pm Glasgow
23 Administrator Calling a meeting of Creditors
20/04/98
Rediscovered Origin by Harry Brown Ltd 11.00 am Leeds
28/04/98
Moseley Football Club Ltd 10.30 am Birmingham
48 Receiver calling unsecured Creditors Meeting
20/04/98
Medway Scaffolding Services Ltd 10.30 am Chatham Maritime
21/04/98
John Marshall Engineers Ltd 02.00 pm Birmingham
Structural Plastics Ltd 10.30 am Sheffield
23/04/98
Oak Lodge Nursing Home (Bradford) Ltd 11.00 am Leeds
24/04/98
ABS (South East) Ltd 11.00 am London
98 Creditors Voluntary Liquidations
20/04/98
Actel Ltd 04.00 pm London
Blendcharm Ltd 03.00 pm London
Bodycare Fashions Ltd 03.30 pm London
Caliban Services Ltd 11.30 am Preston
Callum Retail Ltd 11.00 am Birmingham
Coram Communications Ltd 12.00 pm London
Crownstone Consultabts Ltd 02.00 pm London
Database Computer Hardware Ltd 11.00 am Southend-on-Sea
Elegance Enterprises Ltd 11.00 am London
Hadfield Designs Ltd 11.00 am Manchester
Halton Lifting Gear Ltd 10.30 am Warrington
Jollees Ltd 11.00 am Stoke-on-Trebt
Miller Roofing & Haulage Ltd 11.00 am Newcastle-u-Tyne
Montrose Public Affairs Ltd 11.00 am London
Powerdeal Ltd 11.00 am London
Prime Star International Ltd 02.00 pm London
R A L Design & Build Services Ltd 11.30 am Bournemouth
Rockwell Insulations (GB) Ltd 03.30 pm Lutterworth
Rural Leisure Ltd 12.00 pm London
Sheffield Centrals Graphics Ltd 12.00 pm Halifax
Systemtime Ltd 03.00 pm London
W M H (No 21) Ltd 10.15 am London
W M H (No 50) Ltd 10.15 am London
Water Meadow Holdings Ltd 10.15 am London
Wharfdale Team Ltd 11.30 am Sheffield
21/04/98
Anderson Brothers (Westerhope) Ltd 10.00 am Newcastle-u-Tyne
Ashdale Food Company Ltd 11.00 am Sheffield
Ashdale Marketing Ltd 11.00 am Leeds
Automated Office Systems Ltd 10.00 am London
Babcon Ltd 04.00 pm London
BabconLtd 04.00 pm London
Crimwatch International (UK) Ltd 11.00 am Manchester
Days Felt Roofing Ltd 12.00 pm London
Evolution Network Systems Ltd 11.30 am Cambridge
Fenda Ltd 11.00 am Bromley
Flintwell Foods Ltd 11.30 am Altrincham
G & F Engineering Ltd 01.00 pm London
Gerald Berry (Variety Store) Ltd 11.00 am Glasgow
Haines & Isaacs Ltd 11.30 am Epsom
Kapel Heating Ltd 11.00 am Glasgow
Livi Ltd 10.15 am Bromley
Nelsongate Ltd 11.00 am Birmingham
Orion (Hides) Ltd 10.30 am Driffield
Regional Airtime Services Ltd 12.00 pm Glasgow
S & J Sylward (London) Ltd 11.00 am Barnet
Stable Management Company Ltd 12.00 pm London
Stock Design (UK) LTd 11.00 am Haywards Heath
Sutcliffe Partnership Ltd - The 10.30 am Lichfield
York Engineering Services Ltd 11.30 am York
22/04/98
Alexander Catering Ltd 11.00 am London
Alfred Hasse Hairdressing Ltd 11.00 am Derby
Alton Park Assocites Ltd 10.30 am Reading
Bedale Transport Ltd 12.00 pm Darlington
CTC (Midlands) Ltd 10.30 am Birmingham
D Milburn International Ltd 11.00 am Rochester
Derwent Coaches Ltd 11.00 am Sunderland
Fireglobe Security Ltd 11.00 am Newton Abbot
HDS Computer Services Ltd 03.00 pm London
Headel & Co (Heathrow) Ltd 02.30 pm London
N D Communications Ltd 11.00 am Southend-on-Sea
Renmere Ltd 12.00 pm London
Sevecera Ltd 12.00pm London
Skys Buffet Ltd 10.00 am London
Springers (Lighting & Television) Ltd 11.00 am Bristol
Stone Epps (Midland) Ltd 10.45 am Maidstone
Stone Epps Ltd 12.15 pm Maidstone
Suttons Logistics Ltd 11.00 am London
Tradebasis Ltd 03.30 pm London
Tranz International Ltd 03.30 pm Manchester
Voguefield Ltd 11.00 am Brighton
Whitakers (Stationers) Ltd 10.30 am Yarm
23/04/98
Acclaim Print Ltd 10.30 am Reading
Ashborough Ltd 10.30 am Birmingham
Byefields Ltd 02.30 pm London
Catalyst Creative Resources Ltd 11.00 am London
Chronicle Fashions Ltd 11.30 am London
Countrywide Security Services Ltd 11.00 am Ware
DBL Manchester Ltd 11.00 am Rochdale
F W Bull & Son (Constructions) Ltd 10.45 am Peterborough
Geo C Johnson Ltd 11.00 am London
Great Escapes Ltd 12.00 pm London
I P C L Ltd 11.00 am London
Nomination Negative Cutting Co Ltd 10.30 am St Albans
Performance Graphics Ltd 11.00 am Reading
S & J Haulage Contractors Ltd 11.00 am Dudley
Wardle Chemicals Ltd 11.30 am Birmingham
West London Plastering Ltd 11.30 am Kingston-u-Thames
24/04/98
Airline Navigation Services Ltd 11.00 am Horley
Alabny Contruction Services Ltd 03.00 pm Peterborough
Amplio Ltd 11.30 am Tong
Bless Fashions Ltd 03.00 pm London
Business I T Systems Ltd 11.30 am Leeds
Cimabue Ltd 12.00 pm London
Clares Equipment Holdings Ltd 12.00 pm London
Combine Corporation Ltd 11.00 am London
DCM Metals Ltd 11.30 am Thetford
Delta M & E Ltd 11.00 am Liverpool
First Class Ltd 02.30 pm London
Futuredraw Ltd 03.00 pm Swansea
Gans Security Co Ltd 03.00 pm London
Glazing Purchasing Syndicate Ltd - The 11.30 am London
Marketing Office (Arts) Ltd - The 03.00 pm Gerrards Cross
Pilot Corp Ltd 11.30 am Manchester
Radian Engineering Ltd 03.15 pm London
Reeves Joinery Products Ltd 10.30 am Birmingham
S Russell & Sons Manufacturers Ltd 10.00 am London
Shopfront Services (Aluminium) Ltd 10.30 am Glasgow
Townbroke 2000 Ltd 11.30 am Ashford
27/04/98
A G S S Scaffolding Ltd 11.30 am Sleaford
A Ornstin Ltd 10.30 am Watford
Adventure Concepts Ltd 11.30 am Preston
Automotive Ltd 12.30 am Billericay
Barton Advertising & Marketing Ltd 11.00 am Liverpool
Fewings Farms Ltd 11.00 am Billericay
G H Consultants Ltd 02.30 pm London
Sagrani Ltd 12.00 pm London
28/04/98
Alpha Connection Ltd 10.45 am Southampton
Ardul Ltd 11.00 am Leicester
Capitoline UK Ltd 11.00 am London
Churchward Construction Ltd 11.00 am Tonbridge
Craig Engineering Ltd 12.00 pm Cardiff
Cyborg Data Management Ltd 10.30 am London
Fast Track Ltd 10.30 am West Byfleet
Glenside Motors (Upstreet) Ltd 11.30 am Chatham Maritime
J Ray Flowers Ltd 02.30 pm Bromley
Lichfield Spires Elec & Mec Contra Ltd 11.00 am Birmingham
S Fisher (Burlington Arcade) Ltd 03.00 pm London
Trancity Coaches Ltd 10.45 am Maidstone
Treble Ltd 01.00 pm Havant
TW LW TW LW
USA 1.6874 1.6689 Canada 2.4258 2.3715
Austria 21.4317 21.5784 Portugal 312.135 314.180
France 10.2138 10.2849 Belgium 62.8730 63.6220
Finland 9.2460 9.3210 Italy 3012.35 3029.56
Germany 3.0470 3.0688 Sweden 13.1563 13.3473
Holland 3.4313 3.4573 Switzerland 2.5250 2.5495
Spain 258.680 260.450 Ireland 1.2056 1.2184
Australia 2.6071 2.5437 Denmark 11.6169 11.7310
Hong Kong 13.0757 12.9315 ECU 1.5369 1.5456
Africa Com 8.4927 8.4279 Saudi Arabia 6.3283 6.2589
India 67.0070 66.1240 Malaysia 6.2909 6.2045
Singapore 2.6998 2.7092 Norway 12.7068 12.7478
Japan 219.220 224.700
TW This week LW Last week.
Reed Executive has announced pre-tax profits of 14 million pounds, on turnover of 226.9 million, for the year ending 28th December 1997. Earnings per share stand at 18.7p.
Otis Elevator, the world's biggest maker of such things, is restructuring and cutting 2,000 of its 68,000-strong workforce after demand in Asia plummeted.
Kia Motors, the long-running saga of South Korea's stricken car maker, took another twist. After months of bankruptcy protection, a court placed it under formal receivership, freezing debt repayments. Kia's unions, fearing that this was the first step to auctioning the firm off, went on strike. But the new court-appointed manager says he intends to restructure the firm, not sell it.
More banking consolidation in Europe. In Italy, Credito Italiano is to merge with Unicredito, which owns three savings banks, to form the country's second-largest bank by assets. In France, the government is selling a 67% stake in CIC to Credit Mutuel for FFr13.4 billion (#2.2 billion).
Source The Economist
MERGER CLEARANCE
The Secretary of State for Trade and Industry has decided, on the information at present before her, and in accordance with the recommendation of the Director General of Fair Trading, not to refer the following mergers to the Monopolies and Mergers Commission under the provisions of the Fair Trading Act 1973:Merger between Raytheon Company and HE Holdings Inc.
Proposed acquisition by Toad plc of Sextons Group Limited.
Proposed acquisition by Investcorp SA of Watmoughs (Holdings) Plc.
Proposed acquisition by Investcorp SA of The British Printing Company.
Acquisition by Johnson Matthey Plc of 50% of Cookson Matthey Ceramics from Cookson Group Plc.
Proposed acquisition by Northern Foods Plc of Cavaghan & Gray Group Plc.
Proposed acquisition by British Aerospace plc of assets of Siemens AG, namely Siemens Plessey Electronic Systems Limited.
Source - Financial Times
Amazon, the first on-line book seller, had web site sales of #148m last year, up 838 per cent from 1996. Amazon has yet to turn a profit. But the 2m people who visited Amazon's on-line book store in December - with more than 1.5m placing an order - have traditional booksellers worried. Barnes & Noble, the largest US bookseller, is moving to defend its turf with its own web site. The largest bookshops may carry 150,000 titles. Online you have a choice of 2.5m.
# = US dollars
Source - Financial Times
America Online Inc.'s membership rolls have topped 12 million, up one million in the last three months, the company said on Thursday.
AOL said it has added about 5 million subscribers in the 15 months since it introduced flat-rate pricing in December 1996. Membership passed the 11 million mark on Jan. 20.
The company said its AOL International service has more than 1.3 million members outside the United States, with more than 1 million of those in Europe, a mark it reached in March.
In addition to its own membership, AOL's recently acquired CompuServe service has about 2 million members world-wide, some of whom subscribe to AOL as well.
The subscriber growth has resulted in sharp increases in system usage, with members averaging over 46 minutes online daily, up from 36 minutes last year. The company said its peak usage now exceeds 675,000 subscribers simultaneously.
"To stay ahead of this membership growth, AOL continues to pay close attention to the expansion of the network to ensure our members' ability to access the service," Bob Pittman, president and chief operating officer, said in a statement.
The company continues to add 25,000 or more modems each month, he said, and plans to field-test high-speed xDSL broadband access for the service.
Source - Nando Times
#23 MILLION TO PROVIDE LAPTOPS FOR TEACHERS - A MAJOR CONTRIBUTION TO THE INFORMATION AGE, BLUNKETT
The Government is to provide #23 million to ensure that nearly 10,000 teachers and headteachers have access to multimedia laptops, Education and Employment Secretary David Blunkett announced last week.
Speaking at the annual conference of the National Association of Schoolmasters/Union of Women Teachers, Mr Blunkett said:
'I am pleased to be able to announce today a substantive investment to help teachers and headteachers integrate learning into the Government's drive to bring the information age alive in every community in the country. Today the Prime Minister launched the Government's vision for the information age and the biggest programme of investment and training in IT ever undertaken by a British Government. I am pleased to be able to contribute to this initiative.
'Teachers will be in the vanguard of our Information Age. They need to be able to inspire young people and show that they too can use IT. I can announce today a #23m package to provide nearly 10,000 Headteachers and teachers with powerful portable multimedia computers so that they can see for themselves what IT can do.
'This is the beginning of a substantial investment which builds on the announcement I made earlier this week in respect of the development of the National Grid for Learning.
'I have no doubt whatsoever that this programme will be a success. We know that IT can help reduce the burden on teachers. Previous schemes for serving teachers have shown that giving a teacher sole use of a portable computer is one of the most effective ways of training them in the use of ICT. It helps their confidence and their teaching and helps them to organise their work so as to use more effectively the time they spend with their pupils.
'The Virtual Teacher Centre and the Standards and Effectiveness Database, will be at the heart of the National Grid for Learning and will show teachers how to get the most from computers and networks. Some of these portable computers will be targeted at Headteachers trialling the new Headteachers qualification and aspiring Headteachers undertaking the National Professional Qualification for Headship.
'We have shown just how committed we are to the grid by announcing earlier this week support for a #100m programme in 1998-99. The biggest ever annual programme for IT in schools. And earlier this year we announced that the New Opportunities Fund would support #230m of training for teachers in the curriculum use of IT until 2002.
'This announcement, together with those made earlier this week will again reduce the burden of paperwork for teachers and lessen the bureaucratic obstacles to effective teaching and learning.
'In addition portable computers will also go to the LEA Literacy Consultants to support the National Literacy Strategy, underlining our commitment to pushing forward our drive for standards in literacy and in teacher training.
# = pounds sterling
SOFTWARE - THE NEW REVOLUTION - THE INDIAN SCENARIO
The Global Overview
The progressive rise in demand for information and ease of business across the world, has led the Computer Industry to provide power for today's business software. Application Software solutions have kept pace by providing user friendly environment, data securities and encryption, for the user to adapt easily to the situation and reap the benefits from the much improved price-performance ratios.
The Indian Scenario
India possesses the second largest pool of Software Specialists in the World. The policy trend of the Government of India, towards Information Technology, opened up opportunities for the Indian Industries to venture into the field of Software Export. The bulk of Indian software export has been in the form of professional services, with about 68% contributing to what is classified as 'Custom Specific Application Software'. The liberalised economic policy has seen the spurt in this export activity, which produced a compound annual growth rate (CAGR) of 54% in the last 4 years. The Indian software export continues to show impressive growth rate, with the CAGR touching as high as 55.5%. The Industry exported software worth US # 7.0 million & within a few years the turn-over has grown multi-fold: in 1995-96 a total of US # 734.00 million was achieved & it is expected to touch US # 3.00 billion by the year ended 1996-97. India exported 57% of its total software to USA, 22% to Europe till more opportunities in Japan, Middle East, Asia Pacific & Africa were discovered.
Currently, the Indian Software Industry in India is worth about US # 1.2 billion and if the in-house development, which is undertaken by many large corporates, is accounted for, then the total worth is estimated at US # 1.5 billion. The software industry in India employs 150,000 skilled people & continues to be amongst the fastest growing sectors in Indian economy.
RPK is seeking Business Alliance with Organisations for challenging project implementations. A brief Company Skill Set Matrix may be viewed at http://www.dataindia.com/rpksoft
RPK Software (P) Ltd.,
48A, Motilal Nehru Road,
Calcutta, 700 029 (INDIA).
Tel: +91 33 475 6007.
Fax: +91 33 464 6417.
http://www.dataindia.com/rpksoft
E-Mail: rpksoft@cal.vsnl.net.in
# = US dollars
20 April Bristol & West of England Branch meeting of the ICM 6.30 for 7.00pm The Role of the Sheriffs Officer Presented by Michael Heyden, Sheriffs Officer for Gloucestershire White House Hotel, Staverton, Cheltenham + Buffet 20 April Wessex Branch meeting of the ICM 6.45 for 7.3Opm The Spring Budget - Ian Nichol of Coopers and Lybrand returns for the annual review of the budget. The Vine Inn, Romsey Road, Ower (Junc 2/M27) 21 April Chilterns Branch meeting of the ICM Time TBA Social Evening at Bedford Megabowl 21 April North East Branch meeting of the ICM 7.00 for 7.30pm The Role of the Trade Protection Association Presentation by Phil Garrett, Humberside Trade Protection Association The Marina Post House Hotel, Hull + Buffet 21 April Sheffield Branch meeting of the ICM 5.30 for 5.45pm Coopers & Lybrand CDI Challenge (Interactive computer game for 4 teams - prize for winning team) Coopers and Lybrand. 1 East Parade, Sheffield (next to Cathedral) + Hot Buffet & Drinks Places limited - phone Paula Cassidy on 0114 2598358 to avoid disappointment 22 April Merseyside & North Wales Branch meeting of the ICM 6.00pm The Woolf Report Presentation by Claire Sandbrook of Burchell & Rushton Intrum Justitia. 4th Floor, 47 North John Street, Liverpool + Buffet 22nd - 24th April Business OnLine 98 Hotel Okura Amsterdam, Holland 01923-354405 www.gigaweb.com/events 23 April Kent Branch meeting of the ICM 7.30pm Individual Voluntary Arrangements (Mock Meeting of Creditors) by The Players, Moore Stephens Booth White. The Royal Victoria and Bull Hotel, Rochester + Fish & Chip Supper Bookings for Kent Branch meetings - Ian Mella (tel: 01233 756253) Members - £3; Non-Members - £3.50; Students - £1 27 April Norfolk Branch meeting of the ICM Time TBA Creative Accounting - The Balance Sheet Which Lies Presentation by Cork Gully - how unscrupulous directors try to mislead the users of financial statements. Venue TBA 6 May West Midlands Branch meeting of the ICM 6.30 for 7.00pm An Evening of Light Entertainment by Carl Chinn Tickets are available at £2.50, at each monthly meeting Members and guests welcome. Venue as 1 April + Wine & Buffet 11 May Stoke on Trent Branch meeting of the ICM 6.30 for 7.00pm The Internet Presentation by Equifax Europe Ltd Chamber of Commerce. Etruria, Stoke-on-Trent + Refreshments 12 May London Branch meeting of the ICM 6.00 for 6.30pm Forensic Accounting - an Inside Perspective Rick Helsby, partner in charge of Cooper & Lybrands forensic accounting division. London Transport Property. 55 Broadway, London SW1 Nearest tube St. James Park 12-14 May UK Spring Internet World National Hall, Olympia, London 01865-388-000 www.interworld.co.uk 19th May The ICM 1998 National Conference and Exhibition World Trade - The Credit Perspective The Cumberland Hotel, Marble Arch, London W1 Attendees and Exhibitors please call the Training Department at the ICM. Tel 01780-721888
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