AUTOMOBILES
$300-m global vehicle testing facility proposed
THE Ministry for Heavy Industries has placed before the Planning Commission a proposal to set up a $300 million international testing facility for vehicles. The Secretary to the Ministry, Mr Naresh Narad, told a meeting between the Government ... More

Auto sector urged to tap outsourcing market
THE Deputy Prime Minister, Mr L.K. Advani, on Thursday asked the automobile industry to play a far more effective role to boost the growth of the Indian economy. "If the Government and the private sector synergise more, the feel good factor can ... More

ECONOMY
Regional disparities on decline in AP: Study
The study states that industrial development has been faster in the agriculturally backward regions such as South Telangana, Rayalaseema and North Coastal Andhra than in the agriculturally developed region like South Coastal Andhra. More

Industrial backwardness in Kerala due to obsolete technology: Expert
BACKWARDNESS of industry in Kerala could be attributed to backwardness of industrial technology, according to a leading social scientist. This line of reasoning emphasises technological backwardness as a crucial fact of Kerala's industrial ... More

Ministry not too worried about 6-pc inflation
EVEN though wholesale inflation crossed the 6-per cent barrier to touch a 35-week high of 6.09 per cent, Finance Ministry officials on Friday sought to underplay the phenomenon. Speaking to presspersons on the sidelines of a conference on ... More

Better than expected fiscal, revenue situation seen
DESPITE the tax cuts and reductions in customs duties announced in the recent `mini-Budget,' the fiscal and revenue deficit situation for the current year is likely to be better than estimated, according to Dr Y.V. Reddy, Governor, Reserve Bank ... More

Kerala Governor for vigil on fiscal front
THE State Government will `never again' allow irresponsible financial behaviour to jeopardise the developmental agenda. The Government has learned a lot from the fiscal crisis that it was faced with towards the end of the last decade, said the ... More

EXCISE AND CUSTOMS
Excise duty goes on computer hardware items
THE Finance Ministry has scrapped the 16 per cent excise duty applicable on manufacture of microprocessors for computers (other than motherboards) and storage devices - hard disk drives, floppy disk drives, CD-Rom drives. With this move, ... More

FOREIGN TRADE
`Multilateral trading system is best hope'
MR Jean-Rene Fourtou, Chairman, International Chamber of Commerce (ICC), said that further trade liberalisation would favour stronger economic and social development and thus help in creating a more stable and peaceful world. Speaking at the ... More

Singapore Economic Development Board plans to open office in Mumbai
AS part of its initiative to woo Indian companies to invest in Singapore, the Government of Singapore has decided to open an office of the Singapore Economic Development Board in Mumbai. Mr Lee Hsien Loong, Deputy Prime Minister of Singapore, ... More

India, Israel resolve to promote bilateral economic relations
INDIA and Israel have resolved to take the bilateral economic relations to a new height while expressing satisfaction at the healthy growth in two-way trade, which had grown from less than $200 million in 2002 to over $1.5 billion in 2003. Both ... More

HEALTH

INFRASTRUCTURE
New road project to connect all major cities
THE Government has launched another Rs 40,000-crore project to connect all major cities by four-lane highways that are not covered under the National Highways Development Project (NHDP). Christened Pradhan Mantri Bharat Jodo Pariyojana ... More

PETROLEUM
ONGC to file `red herring' draft prospectus
THE public offer of sale of the Government's 10 per cent equity or about 14.2 crore equity shares in the Oil and Natural Gas Corporation (ONGC) is expected to see a split of 50 per cent to institutional investors; 25 per cent to retail and 25 per ... More

PHARMACEUTICALS
Prices of 3 drugs raised, 2 cut
THE National Pharmaceutical Pricing Authority (NPPA) on Friday revised the prices of some bulk drugs — asprin, analgin, carbamezapine, doxycycline Hcl and spironolactone. While the prices of asprin, analgin (both analgesics) and ... More

`India to be a major player in drug R&D'
AMERICAN media was full of stories on fears of technological invasion from Japan once upon a time, today US papers are filled with reports and fears of outsourcing of jobs to India and the technological developments there." Stating this, the ... More

Mashelkar wants overhaul of drug sector
THE drug and pharmaceutical industry and the existing regulatory framework need a quick and thorough restructuring to meet the global challenges thrown up by the post-2005, product-patent and World Trade Organisation-driven era. According to ... More

RADIO/TV
CAS: Stakeholders readying responses to TRAI note
THE Telecom Regulatory Authority of India (TRAI) consultation note on the conditional access system (CAS) has set the ball rolling with various stakeholders - broadcasters, cable service providers and the broadcasters - working out their ... More

EDUCATION
IIM activities must be India-centric: Joshi
INDIAN Institutes of Management (IIM) must be accountable to the Union Government and the people of India and their research activities should be India-centric, according to the Union HRD Minister, Dr Murli Manohar Joshi. While addressing the ... More

IIM-Kozhikode annual fest from Jan 23
THE Indian Institute of Management, Kozhikode, is organising its annual management festival between January 23 and January 25 at Kozhikode, where students from other management institutes, including IIMs, XLRI, etc are expected to participate. ... More

LEATHER
Italian delegation visits Kolkata leather complex
A SIX-MEMBER Italian delegation led by the Industry and Handicrafts Minister of Tuscani, Italy, visited the Kolkata Leather Complex today. While the Minister's visit was cloaked in the cover of reciprocity (the West Bengal Chief Minister, Mr ... More

NEWSPAPERS & PUBLISHING
`Elected members cannot hold themselves above critical review'
SPEAKERS at a seminar led by the former Supreme Court Judge Mr K.T. Thomas felt that Parliament and State legislatures should clearly define their privileges in the interest of the democracy. The elected members cannot hold themselves above ... More

FOREIGN DIRECT INVESTMENT
FDI cap for scientific, tech magazines hiked to 100 pc
THE Union Cabinet has liberalised foreign direct investment (FDI) in the print media by raising the cap in scientific and technical companies to 100 per cent from the existing 74 per cent. However, companies would have to take the Foreign ... More

Cabinet defers decision on FDI hike in telecom
THE Cabinet has once again deferred a decision on hiking the foreign direct investment (FDI) limit in the telecom sector from the existing 49 per cent. Although the proposal to hike the FDI limit to 74 per cent (exclusively for investments made ... More

Chambers hail move to hike FDI in banking, oil sectors
THE apex chambers of commerce and industry have welcomed the decision of the Union Cabinet to further liberalise the foreign direct investment (FDI) sectoral cap in the banking and petroleum sector. Welcoming the move, the President of the ... More

EVENTS
Business Line Corporate Quiz tomorrow
"THE Hindu Business Line Corporate Quiz" on business and industry is to be held on January 18 (Sunday) at Hotel Taj Coromandel, Chennai. Rotary Club of Madras will organise the quiz, and at stake would be prizes worth over Rs 2 lakh. ... More

EXPORTS & IMPORTS
Foodgrain exports to continue
EXPORT of foodgrain is here to stay and the Government will continue to explore newer markets in the global area, a Union Food Ministry official said on Friday. "There are bottlenecks in foodgrain exports. It is being attended to with the help ... More

TOURISM
Deccan Odyssey chugs out on maiden journey
WITH its lush, resplendent interiors and modern services like air-conditioned restaurant, conference car, gym and a business centre, Deccan Odyssey, India's latest luxury train, was flagged off by the Prime Minister, Mr Atal Bihari Vajpayee, at ... More

PEOPLE
PM releases stamp of Nani Palkhivala
A COMMEMORATIVE postage stamp of the late jurist Nani Palkhivala was released by the Prime Minister, Mr Atal Bihari Vajpayee, at a function here on Friday that was organised by several entities including the Nani Palkhivala Memorial ... More