Financial Daily from THE HINDU group of publications
Friday, February 15, 2002
Markets (Feb. 14)
BL 2501118.46 (+25.43)
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Dollar (Buy/Sell)48.65/48.78
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EU still wary of Indian bed linen
THE European Union (EU) has once again targeted bed linen imports from India for anti-dumping investigations. The controversy, first raised by EU in 1996, simply refuses to die. In its latest move, made on Wednesday, it has initiated a review ... More


Operators seek BSNL backing for village phone obligation
THE private basic service operators (BSO) have approached Bharat Sanchar Nigam Ltd for help in fulfilling their obligations regarding village public telephones (VPT) in their circles of operation. According to industry sources, with an ... More


`Budget must stall the slide'
EXPRESSING concern over the continued dip in industrial growth, the Confederation of Indian Industry (CII) has stressed that the Budget must address the problems faced by the industry. In a statement, the chamber said that the industry, ... More


CETMA expects high demand for DVD players
THE Consumer Electronics and TV Manufacturers Association (CETMA) is expecting the DVD market in the country to rise to a staggering 10 million by the year 2005, according to its President, Mr Rajeev Karwal. "CETMA has set a target of 10 ... More


UNDP report calls for rethink on globalisation
THE Human Development in South Asia Report 2001, which was released on Thursday by the United Nations Development Programme (UNDP) and the Parliamentarians Forum for Human Development (PFHD), addresses the theme of globalisation and human ... More


Biscuit units call for excise reprieve
THE Federation of Biscuit Manufacturers' of India (FBMI) has said that the recent spurt in the import of biscuits poses a threat to the domestic industry. An FBMI communiqué pointed out that the industry was already reeling under the burden of ... More


PM gives nod to APM dismantling
THE Prime Minister, Mr A.B. Vajpayee, has given the final approval for dismantling the administered pricing mechanism (APM) in the petroleum sector on April 1, the Union Petroleum Minister, Mr Ram Naik, said on Thursday after a meeting with the ... More

Govt may fix price cap on petro products post-APM
PRICES of petroleum products may not be fully deregulated even after the administered price mechanism (APM) is dismantled after April 2002. According to recommendations of the expert committee set up to study deregulation of the marketing of ... More

Subsidy on kerosene, LPG -- Can foot Rs 8,000 cr only, says Finance Ministry
THE Finance Ministry has told the Petroleum Ministry that it can foot a subsidy Bill of only around Rs 8,000 crore on the sale of kerosene and LPG for fiscal 2002-03, according to senior Finance Ministry officials. In effect, the Finance ... More


`Patents for pharma companies must be dealt with cautiously'
EVEN as pharma majors demand legal parameters to protect their intellectual property — India needs to tread the patents issue with caution, warns Mr John Morris, Partner, KPMG-UK, or it just may end up "throwing out the baby with the ... More


Karnataka power supply cos' equity put at Rs 28.5 cr
THE combined value of the equity in the four power distribution circles in Karnataka — Bangalore, Mangalore, Hubli and Gulbarga — has been fixed at Rs 28.5 crore. The consultants comprising a consortium led by Cameroon Mckenna, ... More

Power Ministry keen on more funds for APDP
THE Union Power Ministry is keen on increasing the funds size of the Accelerated Power Development Programme (APDP) to Rs 5,000 crore, according to Mr Suresh Prabhu, Power Minister. Speaking to newspersons after a business meet on renovation ... More

States may have to foot SEB dues
THE Rs 41,000 crore owed by State electricity boards to the Central power utilities is set to be transferred to the State Governments, who will then issue bonds to the Centre. The Union Power Minister, Mr Suresh Prabhu, said the Union Cabinet ... More

Gujarat Govt to exit power venture soon
THE exit of the Gujarat Government from the 655-MW Gujarat Powergen Energy Corporation (GPEC) at Paguthan will be complete by the middle of next week when the PowerGen, UK, pays some Rs 260 crore to Gujarat Power Corporation Ltd (GPCL). ... More


West using unfair means to curb steel imports: PM
THE developed countries, which advocate free trade policies, are themselves using unfair means to restrict steel imports from India as the industry is passing through a recession, the Prime Minister, Mr Atal Bihari Vajpayee, said on ... More


Customs collections dip 14% in April-January
"Although the excise duty rates were slashed, revenues have not been buoyant since there has not been a substantial jump in the sales volume in this segment." More

Review direct tax provisions: CII
TO widen the tax base and to garner more revenues from direct tax, the Confederation of Indian Industry (CII) has called for a review of the direct tax provisions relating to individuals. In a statement the chamber has pointed out that with the ... More


India, Italy sign MoU for leather
NEW DELHI: India and Italy have signed a memorandum of understanding (MoU) for the development of the leather sector in India. The MoU was signed in the presence of the Minister of Commerce and Industry, Mr Murasoli Maran between the ... More


Bengal to have paints testing facility
THE West Bengal Government has, in principle, agreed to the proposal of the paints sector to set up a latest paint-testing facility in the State, especially to benefit the large number of SSI units. The paints sector has urged the State ... More


Call to hasten rail line works
CAPEXIL has sought expeditious completion of the long-pending 155-km-long Daitari-Keonjhar-Banspani (DKB) railway line project for increasing iron ore exports from the mineral rich eastern region in a big way. In a recent memorandum submitted to ... More


Paradeep sold for Rs 151.7 cr
THE combine comprising the K.K. Birla-promoted Zuari Chemicals and Fertilisers Ltd and Maroc Phosphore of Morocco has bagged the deal for acquiring strategic control of Paradeep Phosphates Ltd (PPL) for a consideration of Rs 151.7 crore, in a ... More

Pechiney may bid for Nalco control
FRENCH aluminium major, Pechiney, is likely to bid for a controlling stake in National Aluminium Company (Nalco). Pechiney already has a working relationship with Nalco. The French company provides the Bhubaneswar-based PSU the technology for ... More

Price bids for Jessop today
THE Union Government's bid to privatise the Kolkata-based Jessop & Company Ltd, a sick company referred to the BIFR, will be on test when financial bids are invited on Friday. In all, five bidders are understood to be in the fray for acquiring ... More

Discounted cash flow method for PSU valuation
THE Cabinet Committee on Disinvestment (CCD) has decided that the reserve price fixation for all PSUs lined up for strategic sale, including sick ones, will be arrived at on the basis of the discounted cash flow method. The decision to follow ... More


WTO representative's rank elevated
NEW DELHI: The Appointment Committee of the Cabinet has approved in situ promotion of Mr K.M. Chandrasekhar, an IAS officer of the 1970 batch, Ambassador and Permanent Representative, WTO, Geneva, to the grade of Additional ... More


Govt earmarks Rs 4.5 cr for tourism meet
THE Government has earmarked Rs 4.5 crore for the 51st annual conference of the Pacific Asia Travel Association (PATA) scheduled to begin in Delhi on April 14. Speaking to newspersons on Thursday, the Director-General of Tourism, Mr V.K. ... More

Karnataka to turn on tourism charms
TOURISM is the latest plank in Cyberia. Taking a leaf out of the Kerala lesson, Karnataka has set out to be a premier global tourism brand. It plans to unleash an aggressive marketing initiative soon along with the private sector to exploit ... More

Comments & Letters to the Editor to:

Top Stories
V. Venkataswamy U/s

Pechiney may bid for Nalco control

SBI set to cut personal banking product rates

LIC plans foray into Sri Lanka

Paradeep sold for Rs 151.7 cr

NBFCs diversify from niches

Customs collections dip 14% in April-January

States may have to foot SEB dues

In Depth
Inside Kashmir
Guide to derivatives
Looking back
Feb. 3-Feb. 9
Bonanza awaits Govt on VSNL, IBP sell-off

Non-captive iron ore segment -- Need for external marketing freedom

Govt may allow FDI in tobacco sector

E&Y taps India's `bio-economy'

Rules of origin for textile, apparel goods -- India drags US to WTO again

E-com deals may be kept out of I-T net

Some home truths about Chinese threat

PSU loan pre-payments come as boon to Govt

Duncans Industries revamp -- A challenging task ahead

Power Ministry draws up 6-level strategy

Public sector weathers investment famine

Indian Oil set to acquire IBP

Software exports up 25 pc in Q3: Nasscom

Restructure State finances or perish: Chelliah

Tatas pocket VSNL for Rs 1,439 cr, IOC gets IBP

Grain curbs off, sugar freed, new policy for drug sector

Tatas hit jackpot with VSNL

GDP growth estimated at 5.4 pc -- Agriculture, services come to the rescue

IBA directive gives a fillip to CV financing

Hotels post 60 pc drop in forex earnings

Tanners face uncertainty as relocation deadline nears

Pay hikes seen hitting rock bottom: Survey

Zuari-Chambal bids for Paradeep Phos

Defaulting States may get lower power allocation

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