Initiative Media retains clientsMUMBAI: Initiative Media India, the leading advertising media buyer in India, has renewed two of its most prestigious agency of record (AOR) assignments, which were scheduled to expire on March 31, without even a competitive pitch. Maruti Udyog Ltd, the largest press AOR in Delhi and G M Pens, the largest AOR in Chennai, have reappointed Initiative Media India.Says Ashish Bhasin, President, Initiative Meida India, "our focus is on providing a better product to our existing AOR and full service clients. In this context it is a great morale booster for us that Maruti and G M Pens have reaffirmed their confidence in us. I can unequivocally state that the media product of Initiative Media is by far the best in the country today but we won't rest till it is the best in the world."Mudra Communications bags awardMUMBAI: Mudra Communications Ltd has been given the best agency award for 1998 at the 8th Awards Nite of DAC. The award ceremony was attended by BhaiMahavir, Governor of Madhya Pradesh, Jagmohan, Union Minister of Communication and Shamim Kazim, MD of Bombay Mercantile Cooperative Bank - sponsor of the event. In addition may leading personalities like Justice V R Krishna Iyer, Girija Vyas, Vijay Jindal of Zee TV, Virendra Mohan, UNI, Raizada, A A Khan MP, Ram Lal Agarwal of Hyderabad and Atul Maheshwari of Amar Ujala were felicitated.Bullion traders skip tradingMUMBAI: Bullion traders today refrained from doing any transactions following confusion over the imposition of one per cent turnover tax on `C' category commodities by the state government. M L Damani, president of the Bombay Bullion Exchange, said that the state government had reduced the sales tax from 2 % to half per cent and imposed turnover tax as well as surcharge of ten per cent on some commodities. However, the traders were confused as to whether gold is included in the list of commodities coming under `C' category and the surcharge is levied on both the sales tax and theturnover tax, he added. The exchange did not provide any quotations of precious metals during the day but gave closing rates inclusive of all the taxes.
