The Hindu Business Line : Tuesday, June 08, 2004

CLIMATE & WEATHER
Monsoon to remain active in Kerala
A RAMPAGING post-onset `pulse' of the southwest monsoon inundated vast tracts of land in north Kerala at the end of three days of incessant rain that left at least 15 dead, including eight on Sunday in a car accident in the midlands. The ... More

ECONOMY
Govt to ensure stable tax regime: Kalam
Growth rate pegged at 7-8 pc; FII, FDI to be encouraged
PUTTING his official seal on the broad policy framework for the United Progressive Alliance (UPA) Government, the President, Dr A.P.J. Abdul Kalam, today said that the Congress-led coalition would target an annual growth rate of 7-8 per cent ... More

`Govt to give more teeth to panchayat bodies'
IN an effort to ensure all-round development of the rural sector, the President, Dr A.P.J. Abdul Kalam, on Monday said that the Government would ensure that funds for all poverty alleviation and rural development programmes would go directly to ... More

Kalam lays stress on infrastructure
EMPHASISING the Government's thrust on creation of world-class infrastructure, the President, Dr A.P.J. Abdul Kalam, today laid stress on the "encouraging expansion of roads, ports, airports, railways, water supply and sanitation." ... More

Kalam's speech echoes sentiments of CMP
THE President, Dr A.P.J. Abdul Kalam's address to the joint sitting of Parliament predictably unfurled the agenda of action the new United Progressive Alliance (UPA) Government led by the Prime Minister, Dr Manmohan Singh, had broadly outlined in ... More

ENVIRONMENT
`Conservation lapses cost Kerala dear'
THE Fisheries Minister, Prof K.V. Thomas, has said that lapses in environment conservation have resulted in severe drought in the State, which boasts of 44 rivers. Speaking after inaugurating a public meeting organised to mark the World ... More

Coca-Cola, CII in tie-up
HYDERABAD: Coca-Cola Company, in association with Confederation of Indian Industry (CII) and Andhra Pradesh Technology Development and Promotion Centre (APTDC), has launched an initiative for collection of used PET bottles for recycling. ... More

EXCISE AND CUSTOMS
For goods not under MRP-based assessment — Budget may introduce excise levy at `first point of sale'
The move, according to official sources, would help bolster revenues from a host of pharma and textile items, whose brand value and other `intangibles' are currently not captured during excise assessment. More

PETROLEUM
Rajbandh fire: Panel to scrutinise safety norms
THE safety norms as laid down by the Oil Industry Safety Directorate (OISD) for various oil installations in the country may come up for a review in the light of the devastating fire at Rajbandh depot of Indian Oil Corporation in West Bengal. ... More

POWER
Itochu-BHEL set to bag next stage of Bakreswar thermal project
THE ITOCHU-Bharat Heavy Electricals Ltd (BHEL) combine has emerged as the sole bidder for the Rs 1,480-crore second stage of the Bakreswar Thermal Power Plant (BKTTP). State Power Department sources said that orders for the main plant package ... More

STEEL
The magic of steel, with a `warm touch'
COLD steel wants to show its warm heart and has hired an advertising agency reputed for its creativity, to carry the message nationwide. "This is not some cold infrastructure industry that operates in some place I don't know of. This is a warm ... More

TAXATION
Ministry rejects industry demand for refund of State-level levies
THE Commerce Ministry has virtually rejected the industry demands for reimbursement of all State-level local levies through the existing duty neutralisation schemes of the Union Government. The Ministry has also advised the industry to drive ... More

SSI
Karnataka: Sick SSIs asked to submit info
MANGALORE: The Kanara Small Industries Association (KSIA), Mangalore, has asked the sick small-scale industrial (SSI) units to send their names and details to the Association. A press release by its President, Mr Jayaraj Pai, said ... More

WATER
Stress on water conservation
MANGALORE: Water trading is not a good sign for future, says Mr Sreekrishna Padre, water conservationist from Kasaragod of Kerala. He was delivering a lecture on "Rain harvesting-Why and how?" at the World Environment Day celebrations ... More

COAL
SCCL turnaround lauded
HYDERABAD: The turnaround story of Singareni Collieries Company Ltd (SCCL), a loss-making State public sector undertaking, won appreciation at the seventh CEOs conference, held here by the Indian Institution of Industrial ... More

RADIO/TV
Radio industry group meets I&B Minister
REPRESENTATIVES from the radio industry met the Information and Broadcasting (I&B) Minister, Mr S. Jaipal Reddy, on Monday to discuss the problems faced by the industry. Millennium Mumbai Broadcast's Win 94.6 went off air on April 29, while ... More

CARS
Car recalls happen in India too, but discreetly
THE next time you receive a call from your car dealer requesting you to drive down to the workshop for a free service, check out whether they plan to replace any component of your brand new car. You might drive back thanking the dealer for ... More

AUTOMOBILE COMPONENTS
India may slip in auto component exports — Rising steel prices play spoilsport
RISING steel prices may just put a dent in the competitiveness of Indian auto component in the global market. Two main factors are responsible for the industry's plight. These are the unstable and growing prices of key inputs besides the ... More

PAPER, BOARD & NEWSPRINT
Notebook prices likely to go up
According to the retail booksellers in North Mumbai, besides increase in paper price, which has gone up by Rs 2 per kg, other costs in making books have also gone up. More

INDUSTRY ASSOCIATIONS
Chambers hail economic agenda
INDIA Inc has welcomed the unveiling of the economic agenda of the new Government by the President, Dr A.P.J. Abdul Kalam, and said that it would a go a long way in assuaging the fears and apprehensions of the business and investor community. ... More

KNITWEAR & HOSIERY
Hosiery producers petition Chidambaram on CST amendments
IT'S not just textile producers from the decentralised powerloom industry who are hoping for good news from the Finance Minister on their oft-repeated demand against the Cenvat duty. Their counterparts in the cotton hosiery industry, too, have ... More

NEWSPAPERS & PUBLISHING
IHT issue: Govt to file caveats in High Courts
THE Information and Broadcasting (I&B) Ministry will file caveats in the Andhra Pradesh High Court and the Delhi High Court in anticipation of a stay petition filed by Midram Publication Private Ltd, which prints the International Herald Tribune More

FOREIGN DIRECT INVESTMENT
FDI proposals for Mohali industrial township, park cleared
THE Finance Minister, Mr P. Chidambaram, on Monday approved two foreign direct investment (FDI) proposals worth Rs 550 crore on the recommendations of the Foreign Investment Promotion Board (FIPB). The two project proposals, according to an ... More

RURAL DEVELOPMENT
UK co to encourage jatropha farming in wastelands
"Cultivation of jatropha in wastelands will to a large extent relieve the unemployment problem in rural pockets." More

INDUSTRIAL POLICY
New definition for medium-scale sector finalised
THERE will be a clearly demarcated "medium-scale sector" soon, with the Ministry of Small-Scale Industry (SSI) having given its stamp of approval to the Small Industries Development Bank of India's (SIDBI) proposal for a new definition for medium ... More

CONVERGENCE
Mukesh discusses convergence with Jaipal Reddy
RELIANCE Industries Ltd's Chairman and Managing Director, Mr Mukesh Ambani, on Monday met the I&B Minister, Mr S. Jaipal Reddy, to discuss convergence, a key business area for the group. With Reliance Infocomm laying over 120,000 km of info ... More

EVENTS
ACMEE to be held in Chennai from June 10-14
ACMEE 2004, which will showcase developments in technology and help industries market their products, will be held here between June 10 and 14. Organised by the Ambattur Industrial Estate Manufacturers' Association (AIEMA) and the AIEMA ... More

In Thiruvananthapuram today

INCOME TAX
Do not treat financial derivative transactions as speculative: ICAI
THE Institute of Chartered Accountants of India (ICAI) has urged the Finance Ministry to clarify in the Income-Tax law that all financial derivative transactions in the nature of hedging would only be treated as normal business transactions and ... More

EXPORTS & IMPORTS
RBI eases overseas lending norms for exporters
EXPORTERS have been permitted to grant higher trade related loans from their exchange earner's foreign currency (EEFC) account to their overseas importer customer without an overseas bank's guarantee. The Reserve Bank of India has raised the ... More

ECONOMIC OFFENCES
UAE comes down on terror finance, money laundering
THE UAE is taking concerted action against money laundering and terrorist-related financing with the drafting of a new law on counter-terrorism. It has also successfully registered over 100 hawaladars following a regulation issued last year ... More