Agriculture
Centre mulls rice exports from FCI stocks
AFTER wheat, the Centre is considering a proposal to undertake rice exports from the Food Corporation of India's (FCI) stocks.
Airlines
IA keen to raise profitablitiy
INDIAN Airlines plans to devise strategies in the area of marketing, product improvement and other passenger-related activities even as it carries out the task of aircraft evaluation and represents to the Government on a host of issues in the run- up to
the completion of the disinvestment process.
Automobiles
Maruti sell-off: Wait till Dec 23, says Joshi
THE Union Minister for Heavy Industries & Public Enterprises, Mr Manohar Joshi, today indicated that a clear picture on the disinvestment in Maruti Udyog Ltd (MUL) should be available on December 23, by when the Cabinet committee looking into the matter
would have submitted its report.
Banking and Finance
Money markets ride high on IMD funds flow
THE entire $5.5 billion raised under the India Millennium Deposit (IMD) has come into the country. State Bank of India is understood to have handed over the collecting banks 50 per cent of their share in rupees at 10 per cent.
Intervention in forex markets only under compulsion: Jalan
MOST central banks find themselves compelled to intervene in the forex markets in pursuit of some exchange rate objective, however ill-defined, according to Dr Bimal Jalan, Governor, Reserve Bank of India.
Corporate
Decks cleared for Centaur divestment
THE decks have been cleared for the smooth disinvestment of Air India's equity in the Centaur hotels at Delhi and Mumbai airport and the flight kitchens in these two cities.
Eveready to sell more tea estates
EVEREADY Industries India Ltd has decided on the second instalment of tea garden sale. The estates to be sold are Matelli and Jainti, both in Dooars in north Bengal. Eveready has informed stock exchanges of its decision.
Castrol scrip up 16 pc on bid talk
SHARE prices of Castrol India jumped by Rs 37.45 or 16 per cent to close at Rs 271.65 on the Bombay Stock Exchange (BSE) on reports that BP Amoco is making an open offer to acquire a 20 per cent shareholding in the company.
What's in the mail for courier outfits?
GUESS who will be the biggest beneficiary of the ongoing postal strike? Not difficult to guess? The courier companies, naturally? The general perception is that courier companies experience a boom in business whenever a postal strike occurs.
TTK Prestige to acquire 26 pc stake in Softel
TTK Prestige Ltd is acquiring 26 per cent equity stake in the Gujarat-based Softel Machines Ltd for an undisclosed sum. Softel Machines is not listed on the stock exchanges and deals with domestic electric appliances.
Courts
Dispute with contractor on arbitration award -- SC rejects National Fertilisers' plea
IN the case of a non-speaking award, it is not permissible for the court to probe into the mental process of the arbitrator when he rejected 50 per cent of the claim in favour of the appellant, and accepted 50 per cent of the claim in favour of the contr
actor.
Economy
44 pc rise in FDI inflows
CUMULATIVE inflows of foreign direct investment (FDI) into the country touched a level of $3.58 billion during January-October this year. This represented a 44.35-per cent increase over $2.48 billion received during April-October 1999.
Assam to sign MoU with FICCI, FINER to promote pvt investment
IN effort to promote private investment in Assam, the State Government is going to sign a memorandum of understanding (MoU) with the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Federation of Industries and Commerce of North Eas
tern Region (FINER).
Excise and customs law
Customs relief sought for used capital goods import
CAPEXIL has urged the Director General of Foreign Trade (DGFT) to allow import of second hand capital goods under the EPCG (Export Promotion Capital Goods) scheme.
Foreign Trade
Bangladesh gas exports not now
BANGLADESH'S Industry and Commerce Minister, Mr Tofail Ahmed, said that his country would be in a position to consider exporting gas to India only after ensuring adequate supplies for domestic use.
Information Technology
PwC, consultant for criccontest.com
CRICONTEST.COM has appointed PricewaterhouseCoopers to attract strategic alliance partners as part of its expansion strategy.
Sify begins operations in Dubai
SATYAM Infoway Ltd, on Thursday announced the launch of its Dubai operations, at the Dubai Internet City, in partnership with Global Technology Ltd, Satyam's business partner in Dubai.
Infrastructure
NHAI wants multilateral funding norms modified
THE Government's policy of disintermediation in multilateral loans will impact on the funding of the road sector, with the National Highways Authority of India (NHAI) of the view that the returns on the loans may not be adequate to service the borrowings
.
Power
CLP Power takes over Gujarat PowerGen
HONG KONG-based CLP Power International (CLP-PI) is taking over Gujarat PowerGen Energy Corporation (GPEC), which owns the 655 MW power project at Paguthan in Gujarat.
Power guarantees: Karnataka not to assign Central funds
THE Karnataka Government has ruled out assignment of any portion of Central devolution funds for creation of either sinking fund or a fall-back option as a precondition for counter guarantees.
Supply options kept open on Sagardighi power project
WEST Bengal Power Development Corporation Ltd (WBPDCL) has decided to keep its supply options open in respect of Sagardighi power project, which is set to be the State's first power gas-based unit.
States
Plea for AP Bio-diversity Bill in current session
THE Andhra Pradesh Coalition in Defence of Diversity, formed by about 100 non-Government organisations of the State, has sought the Ministry of Environment and Forests to introduce the Biological Diversity Bill, 2000 in the current session of the Lok Sab
ha.
Stocks
Zee Tele spurts as market sees Siticable deal
THE stock of Zee Telefilms Limited (ZTL) has been gaining steadily at the stock market, fuelled by rumours of ZTL's plans to divest equity in its cabling arm, Siticable, being close to finalisation.
Taxation
AP to move over to VAT regime in April 2002
THE Andhra Pradesh Government has decided to move over to the value added tax (VAT) regime effective April 2002 as a part of the Government's economic re-structuring project.
Technology
This inventor does not want to walk alone
INVENTORS are stated be in the flight of their own. Driven by curiosity and keen observation, they are believed to indulge in their own thoughts for hours, trying to transform their ideas into action.
Telecommunications
Postal services only partially hit, claims Govt
ABOUT 57 per cent of the head post offices conducting counter services and mail delivery are functioning throughout the country on the third day of the postal strike, the Government said in a statement here on Thursday.
Postal strike may be called off in 2 days: Paswan
THE indefinite nationwide postal strike, which entered its third day today, is expected to be called off in the next two days, according to the Union Minister for Communications, Mr Ram Vilas Paswan.
Textiles
TN weavers hard hit by yarn price hike, exports
THE steep hike in the price of yarn is hitting the industry hard and the indiscriminate export of yarn of various counts has jeopardised both the powerloom and handloom industries of the country, according to Mr. Subash Chandra Bose, Presiden
t, Sellur Handloom Weavers' Association.
