ISI certified, but failing to live up to standard?
Go to any market and you will find many products ranging from cosmetics to food and heavy industrial materials sport ISI or ISO certification tags, indicating that they are safe for use and assure a certain level of quality.
Even cheap toys from wholesale markets, which on face value alone look like brittle recycled plastic, can be seen with a ‘quality’ tag, giving one a feeling that the mark is being easily used and abused by unscrupulous manufacturers.
On Friday, Food Minister K.V. Thomas indicated that some Indian companies may be churning out sub-standard products despite displaying the quality tags.
“We are getting a lot of complaints regarding the quality of tyres which have got these ISO markings,” Thomas said.
ISI is a quality tag issued by the national standards body, the Bureau of Indian Standards (BIS), while ISO tags are standards prescribed by the International Organization for Standardization, of which India is a founding member.
The minister also displayed apprehension about the ability of the BIS to ensure quality in industries like jewellery by issuing the quality mark.
Responding to questions on the bullion industry’s demand for mandatory hallmarking of jewellery for ensuring quality, Thomas said: “I feel there should be some authenticity for this hallmarking”.
Thomas, who was attending a function to mark World Standards Day, urged Indian manufacturers and exporters to adhere to national and international standards so that the “national image and commercial interests are enhanced overseas”.
But while the minister was urging Indian manufacturers to “comply fully to prescribed standards and regulations”, a large computer projection displayed on both sides of the dais had a pop-up which said “Windows not genuine”.
Talk about irony.
Medvedev vows Russia won’t stagnate under Putin
“They are trying to frighten us with stagnation,” Medvedev told a studio audience made up largely of supporters from the United Russia party.”I want to say a few words about that: it will not happen.”Prime Minister Vladimir Putin announced last month at a United Russia party congress that he would run for president in the March 2012 election, with his protege and ‘tandem’ political partner Medvedev replacing him as the head of a young reformist government.Critics say his return to the Kremlin could herald an era of stagnation in the world’s largest country.While Putin continues to top polls as Russia’s most trusted politician, support for his United Russia party is slipping ahead of the December 4 parliamentary election, when it hopes to place Medvedev in the prime minister’s seat.Dressed in a navy blue suit and an open collar shirt, the 46-year-old president addressed one of the few critical audience members who highlighted the malaise created by corruption, dependence on raw material exports and a lack of democratic institutions.The president said he had worked to lessen these problems during his time in office.”For this reason I see only one instrument, that will allow us to continue to work on this,” Medvedev told the audience of about 200, in a talk show style event broadcast on state-run television.”I say with complete candor: do not give up power.”The president also reiterated calls to overhaul the government and carry out further reforms.”If we succeed in carrying out our political program… the Russian government will consist of entirely new people, and I think that this is absolutely essential for our country.”Prominent rights activists have said that the parliamentary vote would fall short of democratic standards and accused the state of dismantling the institution of democratic elections since Putin came to power.
Medvedev vows Russia won’t stagnate under Putin
“They are trying to frighten us with stagnation,” Medvedev told a studio audience made up largely of supporters from the United Russia party.”I want to say a few words about that: it will not happen.”Prime Minister Vladimir Putin announced last month at a United Russia party congress that he would run for president in the March 2012 election, with his protege and ‘tandem’ political partner Medvedev replacing him as the head of a young reformist government.Critics say his return to the Kremlin could herald an era of stagnation in the world’s largest country.While Putin continues to top polls as Russia’s most trusted politician, support for his United Russia party is slipping ahead of the December 4 parliamentary election, when it hopes to place Medvedev in the prime minister’s seat.Dressed in a navy blue suit and an open collar shirt, the 46-year-old president addressed one of the few critical audience members who highlighted the malaise created by corruption, dependence on raw material exports and a lack of democratic institutions.The president said he had worked to lessen these problems during his time in office.”For this reason I see only one instrument, that will allow us to continue to work on this,” Medvedev told the audience of about 200, in a talk show style event broadcast on state-run television.”I say with complete candor: do not give up power.”The president also reiterated calls to overhaul the government and carry out further reforms.”If we succeed in carrying out our political program… the Russian government will consist of entirely new people, and I think that this is absolutely essential for our country.”Prominent rights activists have said that the parliamentary vote would fall short of democratic standards and accused the state of dismantling the institution of democratic elections since Putin came to power.
NBA’s Stern warns season may be in jeopardy
The owners and players association are scheduled to meet separately with federal mediator George Cohen on October 17 and then jointly the next day for a bargaining session.”Each side is going to meet with the mediator on Monday, and if there’s a breakthrough, it’s going to come on Tuesday,” Stern said in an interview with David Aldridge for NBA TV.”And if not, I think that the season is really going to potentially escape from us, because we aren’t making any progress.”
China shares jump over 2 pct, helping HK reverse loss
* Mainland strength reverses HK loss, HSI up 0.6 pct* Developers underperform as HK plans affordable housing
(Updates to midday)By Clement Tan and Vikram SubhedarSHANGHAI/HONG KONG, Oct 12 (Reuters) - China shares jumped
more than 2 percent on Wednesday morning on talk that the
country’s sovereign wealth fund has been supporting bank shares,
with strength in the sector spilling over to Hong Kong where the
benchmark reversed an early decline.Hopes that Chinese authorities would take steps to bolster
confidence in beaten down financial shares received a boost
earlier this week when Central Huijin, the domestic investment
arm of the country’s sovereign wealth fund, was upping its
stakes in the “Big Four” Chinese banks.The move continued to underpin the rally in Chinese banking
shares, still trading at record low valuations, in Hong Kong and
Shanghai and countered weakness in developers.The Shanghai Composite was 2.16 percent higher at
2,399.18 at the midday trading break in the highest turnover in
10 weeks.The gain lifted Hong Kong’s Hang Seng index 0.63
percent to 18,255.23, helping to offset weakness in property
counters, under pressure after the territory’s authorities
announced steps to promote affordable housing.”It’s quite possible that Huijin has gone back to the market
to buy more bank shares this morning,” said a trader at a major
Chinese brokerage in Shanghai. “Investors could now be betting
that Beijing will not give up so easily and will resort to other
measures to support the market if this doesn’t work.”Industrial & Commercial Bank of China Ltd
rose 1.5 percent in Shanghai and 1.4 percent in Hong
Kong. China Construction Bank Corp rose 2
percent in both markets.”We’ve seen increases in loan quotas for Wenzhou and now
this activity from Huijin, so we are seeing selective easing in
various parts of the economy,” said Paul Schulte, global head of
financial strategy at CCB International Securities.Optimism on financials on Wednesday extended to smaller
banks, brokerages and insurers with large mainland equities
investments as investors anticipate improved market conditions
could boost earnings.China Minsheng Banking Corp Ltd gained 5.8
percent and China Life Insurance Co Ltd rose 4
percent, while the mainland’s largest listed brokerage, Citic
Securities Co Ltd surged 7 percent.HK DEVELOPERS UNDER PRESSUREWeakness in real estate pegged back the Hang Seng Index
after Hong Kong Chief Executive Donald Tsang said on Wednesday
that the government would resume the construction and sale of
subsidised housing to ease public discontent about the city’s
sky-high property prices.Prices for Hong Kong’s apartments, the most expensive in the
world, have risen more than 12 percent this year, surpassing
records in 1997 amid a low interest-rate environment, strong
economic growth and buying by mainland Chinese investors.The property sub-index in Hong Kong was flat by
midday, underperforming other sectors. Sun Hung Kai Properties
Ltd eased 0.2 percent and Henderson Land Development
Co Ltd lost 0.8 percent, the top drags.Also lower was European fashion retailer Esprit Holdings Ltd
, slumping 8 percent but off its low for the day after
a media report that the company had exaggerated the number of
its retail outlets in China.The stock is still up more than 34 percent since slumping to
a near decade low last month.
