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Coke to cut jobs in Asia

Atlanta, Oct. 28: Coca-Cola Co plans to cut another 900 jobs, mostly at bottling plants in Asia, according to a published report. The cuts are in addition to 1,900 jobs that the world’s biggest soft drink company said it would slash earlier this year, Coca-Cola spokesman Ben Deutsch told the Atlanta Journal-Constitution today. Earlier this year, Coke said it planned to eliminate 1,000 jobs in North America and 900 in Germany. The combined cuts of 2,800 jobs represent about 5 per cent of its worldwide work force. “During the third quarter of 2003, the management further reviewed all worldwide operations to improve our overall efficiency and effectiveness,” the company reportedly said in a filing Monday with the Securities Exchange Commission.

Sebi note

Mumbai, Oct. 28: Sebi has proposed amendments to a slew of capital market regulations to permit electronic filing of documents by market intermediaries, electronic maintenance of records and use of digital signatures.

Electricity Act

Calcutta, Oct. 28: The government will introduce an amendment to the Electricity Act, 2003, in the next session of Parliament for which cabinet approval has been secured, said A. K. Basu, chairman of the Central Electricity Regulatory Commission.

IA move

New Delhi, Oct. 28: In a significant development, Indian Airlines (IA) and Singapore International Airlines have joined hands to explore the formation of a joint venture for maintenance, repair and overhauling of aircraft, including those of foreign airlines in India.

Trade pact

New Delhi, Oct. 28: India and Bangladesh are likely to sign a trade pact soon as the joint secretary-level talks dealing with non-tariff barriers, revision and renewal of the bilateral trade agreement are reported to have gone well.

Tea panel

New Delhi, Oct. 28: Concerned over falling prices of tea and coffee, the Planning Commission has favoured an Opec-type arrangement to check over-supply in the market. The suggestion was made by deputy chairman K. C. Pant today at a quarterly stock-taking meeting with commerce ministry officials here, sources said.


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