Airlines
IA, AI squabble over aircraft price
AIR India (AI) is bidding to sell three Airbus A300 aircraft to Indian Airlines, but the two airlines are caught in a squabble over the price.
Banking and Finance
Officer-optees of VRS criticise SBI move
THE State Bank of India (SBI) Voluntary Retirement Scheme (VRS) Optee Officers' Association has asked the bank management to adhere to the stated objective of the VRS and not to resort to compulsory retention of the VRS optees.
PNB cuts prime rate to 11.5 pc
PUNJAB National Bank (PNB) on Monday announced a 50 basis point cut in its Prime Lending Rate (PLR) consequent to the Reserve Bank of India's (RBI) recent announcement of a similar cut in the bank rate.
SBI Home Fin plans Rs 60-cr pref issue
THE shareholding pattern in SBI Home Finance Ltd (SHFL) will undergo a sea-change following its decision to issue fresh equity shares of Rs 10 each, aggregating Rs 60 crore on preferential basis.
Cartoon
Cartoon
Cement
Lafarge set to buy big stake in Shree Cement
RELIABLE pointers were available from stock market and cement industry sources here today that Lafarge, the French cement major, would shortly be buying substantially into Shree Cement, controlled by Mr H.M. Bangur. Shree Cement has a three million-tonne
facility at Beawar in Rajasthan.
Cement prices register fall as demand slumps
CEMENT prices have started to fall all over the country and in the last few days, it has registered a slow but steady fall of about Rs 10-15 per bag.
Corporate
VST: Damanis likely to revise offer price up
BRIGHT Star Investment, the Mumbai-based broking firm owned by the Damani brothers, has initiated discussions with its merchant bankers, ASK Raymond James, on the issue of an upward revision in its offer price to VST Industries shareholders.
Your mail... your stamp -- The post office woos corporates
AMONG the stalls at an exhibition of retailers and technologies at the KSA Retail Summit, there's one that stands out with its sheer incongruity.
Kone Elevators workers on stir
KONE Elevators India Ltd workers have gone on a strike demanding management recognition for the AICCTU-affiliated Democratic Labour Union. The company's plant is at Ambattur, a western suburb of Chennai.
Cabinet to take up Competition Bill today
THE Cabinet is slated to consider the much-awaited Competition Bill, now renamed as the Trade-Related Competition Bill, for approval on Tuesday. The Bill is expected to be introduced in the Budget session of Parliament.
Srei signs pact with IFC for $10-m loan
SREI International Finance Ltd, engaged in infrastructure equipment and project financing, has got a fresh line of credit for $10 million from the International Finance Corporation (IFC), Washington.
Delsey knowhow for VIP luggages
VIP Industries Ltd has received the Government's approval for entering into technical collaboration with a French firm, Delsey.
Courts
SC upholds Tribunal ruling on import duty case
THE Tribunal as well as the Commissioner of Customs were right in coming to the conclusion that there was a wilful suppression or mis-statement of the value of the goods imported and, therefore, the department was entitled to invoke the provisions of the
proviso to Section 28(1) of the Customs Act, 1962, and issue show-cause notice even if a period of six months importation had expired.
Economy
President calls for widening reform ambit
THE President, Mr K.R. Narayanan, on Monday called for widening the scope of the reform process to fortify self-reliance, create more employment, eradicate poverty and complement economic reforms through administrative, judicial, educational and labour r
eforms.
President calls for wider reforms -- `Labour law changes cannot be delayed further'
THE President, Mr K.R. Narayanan, on Monday called for widening the scope of the reform process to fortify self-reliance, create more employment, eradicate poverty and complement economic reforms through administrative, judicial, educational and labour
reforms.
Information Technology
Bye dotcoms, hello Internet for VCs
INDIA'S fledgling venture capital fund business could see a 30 per cent churn rate over the next couple of years - some 20-odd funds are likely to fold.
Sterlite inks optical fibre deal with US co
STERLITE Optical Technologies Ltd (SOTL) on Monday stated that it has signed a MoU with General Cable Corporation (GCC), USA, whereby GCC's existing optical fibre cable (OFC) manufacturing operations at Dayville, Connecticut, would be spun off into a 50:
50 joint venture with SOTL.
PSU
Rs 2,500-cr norm for VSNL suitors
THE Government today invited bids for 25 per cent stake of Videsh Sanchar Nigam Ltd (VSNL) and specified that suitors should have a combined minimum net worth of Rs 2,500 crore for participating in the bidding.
Power
Enron review panel hears complaints
THE Enron power project should be taken over by the Government either as a public sector company or as a joint venture. The payment for the take-over should be calculated as is done in BIFR cases, according to Mr Pradyumna Kaul, convenor of the Enron Vir
odhi Andolan.
Gurusoppa unit put on trial run
BANGALORE: The first 60-MW unit of the Gerusoppa Hydro Electric project was put on trial run successfully.
KPCL begins exercise to insure its hydel assets
KARNATAKA Power Corporation Ltd has begun an exercise to insure its hydel assets. This move is now expected to become a trend setter among State-owned power utilities in the country.
Centre drafts separate power reform schemes for States
IN an effort to evolve a reform process for each State, the Ministry of Power has called a meeting with all the State Chief Ministers which is to be presided by the Prime Minister, Mr Atal Bihari Vajpayee, on March 3, the Union Minister for Power, Mr Sur
esh Prabhu, said here on Monday.
TNEB gets ready to avert grid collapse
THE Tamil Nadu Electricity Board (TNEB) has taken a number of measures by which it hopes to prevent grid collapse, especially during the summer.
SSI
Codissia seeks to lower lending rates
COIMBATORE: While welcoming the reduction in bank rates, the Coimbatore District Small Industries Association has appealed to the schedule and commercial banks to pass on the 0.5 per cent concession allowed by the RBI to the industrial units and reduce t
heir lending rates to the extent possible.
States
Centre okays gas supply to Assam power project
THE Union Ministry of Petroleum and Natural Gas has agreed to supply 0.5 million cubic metre of natural gas per day to the proposed 105 MW Amguri gas-based power project of the Assam State Electricity Board (ASEB).
Contributors for Gujarat earthquake relief
The list of contributors of Rs 2500 and above to the Gujarat earthquake relief.
Gujarat quake shakes realtors confidence -- Creates more awareness among buyers
GUJARAT'S killer earthquake too has its flip side, it seems. It has made, real estate developers more cautious about following rules, even as it brought about a new sense of awareness among prospective buyers, who till the other day accepted whatever was
provided to them meekly.
Seminar on food venture in Kochi today
IN pursuit of its policy of expanding food processing industries in the State, the United Nations Industrial Development Organisation (Unido) and the Kerala Industrial Infrastructure Development Corporation (Kinfra) are organising a one day seminar -- Fo
od venture '01 -- in Kochi on Tuesday.
`KTDC makes great strides with new enthusiasm'
THE Kerala Chief Minister, Mr E.K. Nayanar, has stressed the need to improve the infrastructure for promoting tourism in the State.
Telecommunications
Broadcasting industry for status quo on taxing FTCs
THE broadcasting industry has asked the Government to maintain status quo on the taxation of foreign telecasting companies (FTCs) saying that any alteration in the structure could be done after the passage of the Convergence Bill.
Transport
SER tops earnings, freight loading targets
THE South Eastern Railway (SER), the flagship of the Indian Railways (IR), is poised to end the current fiscal on a high performance note.
Overruns derail track projects
EVEN as members of Parliament led by the Railway Minister, Ms Mamata Banerjee, are pushing for inclusion of several new projects in their own constituencies, internal estimates prepared by the Railway Board indicate that an investment of around Rs 35,472
crore would be required to complete even its on-going 280-odd projects.
Ex-Railway Board chief for hike in fares
WITH the Prime Minister, Mr A.B. Vajpayee, hinting at a possible hike in railway passenger fares in the Budget, speculation is rife that the Railway's financial position is far from healthy.
