The Hindu Business Line : Tuesday, August 31, 2004

EMPLOYMENT
GoM to study job quotas in private sector
THE Government today constituted a Group of Ministers (GoM) to examine, among other things, the issue of `affirmative action' in the private sector. "The GoM will examine all dimensions of the issue of affirmative action, including ... More

CLIMATE & WEATHER
Soil moisture has a role in rainfall: Study
INDIA is among those land masses, which feature "hot spots" where soil moisture may strongly affect rainfall during the northern hemisphere summer. According to preliminary findings of the latest National Aeronautics Space Administration ... More

ANTI-DUMPING
Dumping duty on PVC paste resin recommended
THE Designated Authority in the Commerce Ministry has recommended the imposition of definitive anti-dumping duty on imported PVC Paste Resin from the European Union, South Korea and Saudi Arabia. As the injury margin capable of inflicting ... More

Dumping probe on NBR imports from EU, Mexico, Brazil
DOMESTIC users of acrylonitrile butadiene rubber (NBR), a synthetic rubber, may now be required to pay more for their import consignments from certain countries. The Designated Authority has initiated an anti-dumping probe on NBR imports from the ... More

ECONOMY
RBI may dip into forex kitty to combat inflation
THE Reserve Bank of India may tap the foreign exchange reserves to combat inflationary pressures, if necessary. Indicating this, the RBI in its annual report for 2003-04, released today, said: "The comfortable level of foreign exchange ... More

Our policies the best to boost economy: Bush
WITH Republicans in Democratic territory in New York for the start of their political convention today, the major contenders for the November 2 showdown are focussing on the economy and jobs even if there is a feeling that this area has not been ... More

ENGINEERING
EEPC appoints A.F. Ferguson to chart out medium-term strategy
The initiative is being taken up to make Indian engineering exports more competitive in the scenario of more FTAs and RTAs emerging. More

ENVIRONMENT
Kerala PCB serves closure notices on 109 units
The State Pollution Control Board issued notices last week to 109 industrial units for flouting the Hazardous Waste Rules. The SPCB has asked 32 units to close down immediately. More

FERTILISERS
Increase subsidy or we will close down, DAP units tell Govt
THE Phosphoric Acid Consumer Group (PACG) headed by the Tata Chemicals Managing Director, Mr Prasad Menon, has informed the Government that di-ammonium phosphate (DAP) producers plan to close down their operations if the Government does not ... More

FOOD & DAIRY PRODUCTS
Pav to be dearer from Sept 11 in Mumbai
ABOUT 2,000 small and medium bakeries in the city will increase pav/slice bread prices by 25 per cent with effect from September 11, 2004 following increase in major raw materials prices - maida, according to a joint statement issued by the ... More

FOREIGN TRADE
Italy sees big scope in agro-based industries
ITALY is keen on having collaborations with Indian companies in the fields of information technology and agro-based activity. Dr A. Armellini, Ambassador of Italy, has said that his country would like to focus on these two areas. Italy found ... More

India, Thailand sign pact for early harvest scheme
INDIA and Thailand on Monday signed a protocol to implement the early harvest scheme (EHS) under the framework agreement on free trade area (FTA), which was flagged off by the Commerce Ministers of both countries last year. The key elements of ... More

PETROLEUM
Crude price rise pressuring margins: BPCL
BHARAT Petroleum Corporation Ltd has said in spite of recent duty cuts by the Union Government, current prices of petroleum products would be inadequate to cover costs if international oil prices continue to rise. "Major increases in ... More

ONGC to invest Rs 25,000 cr in Karnataka — Signs MoU to develop SEZ at Mangalore
OIL and Natural Gas Corporation (ONGC) has signed an MoU with the Karnataka Government and the Kanara Chamber of Commerce and Industry (KCCI) to develop a coastal special economic zone (SEZ) at Mangalore and invest close to Rs 25,000 crore ... More

ONGC to finalise contracts to set up CBM units
OIL and Natural Gas Corporation will finalise turnkey contracts for setting up facilities for production of coal-bed methane (CBM) by November this year. The company has already prepared a roadmap for a Rs 10,000 crore investment in six coal ... More

French consultant to get $103-m for ONGC marine surveys
OIL & Natural Gas Corporation has awarded $103 million for a marine survey project to the French consultant Compagnie Generale de Geophysique (CGG), a CGG news release said. The contract entails acquisition and onboard processing of a series ... More

OVL acquires 55 pc stake in Australian offshore block
THE state-owned Oil and Natural Gas Corporation has signed a pact with Canada's Antrim Energy to buy its 55 per cent stake in offshore exploration block in offshore Australia. The deal was signed by ONGC's overseas arm, ONGC Videsh Ltd, last ... More

TAXATION
States to raise VAT composition scheme limit to Rs 1 crore
STATE Governments have agreed to raise the limit of the optional composition scheme under the proposed value added tax (VAT) regime from the earlier agreed Rs 40 lakh to Rs 1 crore. The main purpose of a composition scheme is to enable the ... More

TEXTILES
Textile sector will gain from abolition of MFA, says RBI
INDIA has the potential to be a major beneficiary of the phasing out of the multi-fibre agreement (MFA) but the textile industry needs to develop skills and upgrade technology to take advantage of the opportunities, the Reserve Bank of India said ... More

SSI
Seven banks to tie up with SIDBI
For VC fund, rating venture
SEVEN of the country's leading public sector banks are set to propel the Small Industries Development Bank of India (SIDBI) to its next orbit in funding the growth of the small and medium sector. The tie-ups with the banks, which are in an ... More

Single law soon for SSIs, says PM
THE Prime Minister, Dr Manmohan Singh, has said that it would be the endeavour of his Government to create a positive environment in which the "animal spirits" of private enterprise would be unleashed to usher in a new era of entrepreneurial ... More

Foundry parks coming up near Coimbatore
The foundry parks being established at the initiative of the member units may be a first in the category. More

Maditssia plea to Kalam
MADURAI: The Madurai District Tiny and Small Scale Industries Association (Maditssia), in a memorandum submitted to the President Dr A.P.J. Abdul Kalam, during his visit to the city recently, has urged him to initiate measures to expedite ... More

WATER
Packaged water alright, but is it genuine?
FOR every one licensed manufacturer of packaged drinking water in the State, there are two unlicensed manufacturers, estimates the Bureau of Indian Standards. Karnataka has about 70 licensed packaged water makers under its control but there ... More

COAL
Ports hit by drop in coal arrivals from Talcher
THE sharp drop in the arrival of thermal coal at Paradip port from the Talcher mines of Mahanadi Coalfields Ltd has thrown up myriad problems, not only for Paradip port - for which thermal coal is a major component of traffic - but for ... More

RADIO/TV
TRAI plans to digitalise cable TV system
IN a bid to improve the quality of television signals and to enable transmission of more channels on the same spectrum, the Telecom Regulatory Authority of India (TRAI) is considering to digitalise the entire cable TV system. But the regulator ... More

EDUCATION
Educomp's Smart Class model for US schools
DELHI-based eLearning company Educomp Datamatics Ltd is all set to introduce its year-old integrated technology programme — Smart Classroom — to schools in the US. For the pilot project, schools have been selected across ... More

South Australia woos students from India
THE South Australia's Minister for Further Education is beginning a four-city tour from Tuesday to promote joint education, research and training links with Indian institutions. The delegation from four universities and led by the Minister, Ms ... More

Bengal allowed to run DNB courses in medical colleges
THE Union Health Ministry has allowed West Bengal to run Diploma of the National Board (DNB) courses in private and Government medical colleges in the State. Dr Surjya Kanta Mishra, West Bengal Health Minister on Monday at a meeting at the ... More

GEMS & JEWELLERY
Sparkle seen continuing in diamond sector
"The current financial year ending March 2005 will be another good year for the diamond industry with positive economic indicators for the global economy," said Mr Kirtilal Doshi, the Chairman of Shrenuj & Company Ltd. Addressing the 22nd ... More

Hallmarking scheme seeing traction
The BIS is also focussing on the gold hallmarking scheme through independent hallmarking labs recognised by the BIS and has so far got 780 jewellers selling under the BIS license. The scheme has seen considerable traction in the West and ... More

INDUSTRY ASSOCIATIONS
Extension of Cenvat credit for inputs sought
THE draft Cenvat Credit Rules 2004, if accepted, may burden the FMCG majors such as P&G and HLL, and their marketers into paying more taxes. According to the Federation of Indian Chambers of Commerce and Industry (FICCI), the draft rules need . More

Export inputs must be made available at competitive rates: Chamber
THE PHD Chamber of Commerce and Industry (PHDCCI) on Monday called for the need to make export inputs available at competitive rates for transforming India into a global trading hub. "The National Foreign Trade Policy (NFTP) must address the ... More

PAINTS
Rising crude prices — Paint industry's burden may fall on consumers
ANY further rise in crude oil prices may prompt Indian paint companies to consider a price hike, especially in the decorative segment of the business. Almost all of the raw materials used by the paints industry have a direct co-relation to ... More

SOCIAL WELFARE
State DWCRA, SHGs awarded
THE `Best State Award' has been presented to the members of the Development of Woman and Child in Rural Areas (DWCRA) and Self Help Groups (SHG) of Andhra Pardesh at a National Craft Mela (SARAS) in Jaipur recently, an official release said here ... More

EVENTS
`Interaction with industry will help new tech development'
THE Director of the National Institute of Technology Karnataka (NITK), Prof S.S. Moorthy, has said that interaction with industry will benefit the academia in developing new technologies and applications. He was delivering the keynote address ... More

Jute fair opens in Kochi
KOCHI: The Jute Manufacturing Development Council of India (JMDC), the national agency responsible for promotion of jute, is organising a `Jute Fair' and an exhibition-cum-sale of eco-friendly jute products here from August 30 to ... More

EXPORTS & IMPORTS
Coffee exports taper off on low stocks
COFFEE exports are likely to be on a low-key until December on lack of stocks and domestic buyers outbidding exporters. "Coffee exports are expected to be slow till the arrival of new crop in December. Also, exports were higher in the first ... More

EU to allow duty-free basmati imports
IMPORTS of traditional varieties of Indian basmati rice will be allowed duty-free in the European Union (EU) market from September 1. Under the terms of latest `Rice Agreement' concluded by India with the European Union (EU), the EU has ... More

TOURISM
Madurai tourism potential `untapped'
CII takes steps to put out brand `Madurai' as a gateway to culture and heritage in the international arena. More