Financial Daily from THE HINDU group of publications
Tuesday, October 08, 2002
Markets (Oct. 7)
BL 2501020.28 (+14.89)
BSE Sensex2952.78 (+22.27)
S&P CNX Nifty954.75 (+6.55)
Dollar (Buy/Sell)48.32/48.45
Gold Std (10 gm)5290 (+10)

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Dumping duty on caustic soda from China, S. Korea
THE Designated Authority in the Commerce Ministry has recommended the imposition of provisional anti-dumping duty on all imports of sodium hydroxide, commonly known as caustic soda, from China and South Korea. Caustic soda is an inorganic ... More


Solid gains seen for cement cos
Compared to a negative growth of one per cent during 2000-01, the domestic cement industry registered a growth of 8.5 per cent during the last fiscal. More


Ministry firm on States' debt swap formula
THE Finance Ministry has decided not to recommend any changes in the original debt-swap formula of allowing States to retire high-cost debt of around Rs 1,00,000 crore over the next four years. The decision has been taken after consulting the ... More

Oct 18 meeting of CMs with PM on State finances crucial
Outstanding debt of the States, which was 18.62 per cent of GDP at the end of 1993-94, rose markedly to 23.39 per cent by the end of 2001-02 (revised estimate) More


Scottish co offers tech for bio-degradable carry bags — Negotiations on with Kolkata co
HAVE you heard of plastic bags buried in landfills degrading naturally and disintegrating? Scottish company Luibeg International Commodities, which holds the licence for the technology to make and market this product in India, is in the ... More


Irish team to boost trade, investment
THE Irish Minister for Trade and Commerce, Mr Michael Ahern, is here leading a delegation drawn from 27 Irish companies to promote greater trade and investment ties between Ireland and India. Addressing a press conference on Monday, he said ... More

CII launches Web page on India and EU
THE Confederation Indian Industry (CII) has launched a Web page on India and the European Union (EU) which will provide relevant information about the economy, the investment climate in India and the EU, besides policies and procedures governing ... More


L&T, IPCL among 8 interested in chemical terminal at JN port
The proposed terminal will have a capacity to handle nine million tonnes cargo - three million tonnes LNG and six million tonnes chemicals — per annum. It will comprise one LNG berth, 2 offshore berths and tank farms, and other facilities in an area of 50 hectares to be reclaimed. More


`LNG policy in 3 months'
THE Government policy on liquefied natural gas (LNG) is expected to be ready in the next three months, according to the Petroleum Secretary, Mr B.K. Chaturverdi. Speaking to reporters on the sidelines of the third `International Symposium on ... More


Appellate ruling on sales tax may see fall in drug prices
LAST month, a judgement passed by the Karnataka Appellate Tribunal put a long-standing issue in the pharmaceutical industry to rest. This is also likely to see a drop in prices of medicine to the end-customer. The controversy arose from the ... More


FICCI to hold global tax meet on new concepts
TAXATION has come to be recognised the world over as not merely a device for raising resources for the Government, but as an important tool for development of the economy, according to the Federation of Indian Chambers of Commerce and Industry ... More


More quota to be released in ready goods system
THE Cotton Textiles Export Promotion Council (Texprocil) will release additional quantities to the fourth-quarter FCFS-ready goods quota schedule to be opened on October 10. According to a release here, in line with a directive of the Ministry ... More


Essar bags TN water scheme contract
MUMBAI: Essar Constructions Ltd, a part of the Essar group, has bagged a Rs 43-crore contract for developing a combined water supply scheme in Madurai and Theni districts of Tamil Nadu. According to a release, the Tamil Nadu Water and ... More


Coal India production, offtake rise
COAL India Ltd (CIL) has recorded a six per cent growth in production and four per cent growth in offtake during the first six months of the current financial year. While the company surpassed its production target of 128.22 million tonnes ... More


  • Gahlaut elected FAI Chairman


    APCO experience to be vital input — Revamp package on cards for 3 more apex handloom co-ops
    THE Union Textiles Ministry is contemplating restructure packages for the apex handloom societies in the States of Karnataka, Uttar Pradesh and Madhya Pradesh, based on the experience gained in Andhra Pradesh. The Ministry had funded a Rs ... More


    Bracing for quota-free regime — Tirupur exporters talk to TUs on new challenges
    IF the opening up of markets has thrown up new opportunities for textiles and clothing companies in Tirupur region, the induction of modern machines has brought its share of problems for the exporters. The Tirupur exporters who have to face the ... More


    Continental Coffee wins Nizam Sugars unit bid
    CONTINENTAL Coffee Ltd has emerged as the preferred bidder for the Mombojipally distillery of the Nizam Sugars Ltd. The company's bid of Rs 7 crore was the highest among the three in the race, according to the Cabinet Sub-Committee ... More

    SBI Caps bullish on SCI divestment
    THE Government's renewed commitment to the disinvestment process, as is evident from the recent signals from the Prime Minister, will have an immediate impact on Shipping Corporation of India, which is expected to come up soon for ... More

    Sell-off problems: Uma Bharti blames lack of communication
    LACK of communication between the nodal Ministry in-charge of disinvestment of public sector undertakings (PSUs) and the concerned administrative Ministries has led to confusions and, as a result, controversies, according to the Union Minister ... More


  • EPF redresses grievances


    `Professionalise family business'
    MADURAI: Families should devise their own codes of conduct to avoid breakdown in family-owned organisations as there is no blueprint available, said Mr M.V. Subbiah, Chairman, Confederation of Indian Industry National Committee on ... More


    Gold jewellery exports up 36% in first half
    IN the first half of the current fiscal 2002-03, gold jewellery sector has marked a substantial growth with exports rising by 30.36 per cent in dollar terms and 36 per cent in rupee terms, according to figures released by the Gems and Jewellery ... More


    `Response to travel mart encouraging'
    THE response to the Kerala Travel Mart 2002 (KTM) and the National Boat Show was far beyond expectations; they would bring not only more tourists to Kerala but greater investment and revenue, according to Mr T. Balakrishnan, Tourism ... More


    PF Dept to attach assets of defaulting employers
    THE Provident Fund (PF) Department has decided to act tough on defaulting establishments by attaching properties towards recovery of PF dues. The department is now contemplating more stringent action like "arrest and detention of employers in ... More

    CSE probe: Police find proof of hawala deals
    THE Kolkata police, now investigating into the affairs of the Calcutta Stock Exchange in connection with the March 2001 payment crisis, has found conclusive evidence of transfer of money through the hawala route. The police, said Mr Soumen ... More

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