PETROLEUM
New system of petro price revision likely
THE Government has hinted that the existing fortnightly revision of petrol and diesel prices may be replaced by a new system that involves monthly or quarterly revisions. Petrol and diesel prices, in keeping with the current practice of fixing ... More

Kochi Refineries project may be delayed due to high price bids
THE high price quoted by bidders in response to the global tender floated by Kochi Refineries Ltd for setting up the Rs 623-crore crude oil receipt facilities here has forced the company to go for alternate methods to implement the project. This, ... More

`ONGC investment plan intact': Dharam Singh
BANGALORE: ONGC's Rs 25,000-crore investment plan in Karnataka is intact, the Chief Minister, Mr Dharam Singh, has said. He said that there is no diversion of the project and the Prime Minister had assured him of this in response to a ... More

PHARMACEUTICALS
Pharma cos target niche areas for higher margins
IT'S all about discovering a niche. The highly competitive nature of the pharmaceutical market is forcing companies to look at speciality and niche segments, especially those that offer higher value and margins. And it's different strokes for ... More

`Breaking' patents — Effective use of compulsory licensing
In the light of the Doha Declaration and the bold Brazilian initiative to break the patent of several HIV/AIDS medications, the Government should provide for effective compulsory licensing which, exercised cautiously, has the power to remedy most of the problems relating to access and pricing of drugs. Doing so would be a great show of political will in implementing the legitimate flexibilities available under the WTO. More

POWER
BHEL thermal sets achieve record generation
BHARAT Heavy Electricals Ltd-built thermal sets achieved a record generation of 214.92 billion units in the first eight months of the current fiscal against 204.48 billion units in the same period last year. In the same period, ... More

IDBI funding for power projects
MUMBAI: IDBI Ltd has sanctioned Rs 1,500 crore for funding power projects this year. The financial institution has sanctioned Rs 9,000 crore towards various infrastructure projects so far this year, compared with Rs 7,500 crore ... More

PM for multi-faceted approach to energy pricing
THE Prime Minister, Dr Manmohan Singh, on Tuesday said the Government would adopt a multi-faceted approach towards pricing of energy resources, including auto fuel, LPG, kerosene and electricity aimed at efficient and rational use of energy ... More

NTPC mulls power trading exchange
A SPOT market for electricity trading could be on the anvil soon. The National Thermal Power Corporation (NTPC) has appointed the Nordic Power Exchange as consultant for the establishment of an IT-enabled power trading system and a nationwide ... More

Inter-State transmission — CERC to revise open access regulations
THE Central Electricity Regulatory Commission (CERC) has said it would revise regulations on open access in inter-State transmission for enabling smoother trading of power between States. As part of the consultation process with various ... More

Japanese power company keen on investing in AP
JAPANESE company Marubeni has expressed interest in investing in power sector in Andhra Pradesh. Mr Yasukuni Enok, Ambassador of Japan, requested the Chief Minister, Dr Y.S. Rajasekhara Reddy, to consider the proposal from the Japanese company ... More

TAXATION
Indirect tax collections up 11.7 pc in April-Nov
THE Centre's indirect tax collections for the period April-November 2004 surged 11.73 per cent to touch Rs 1,02,553.25 crore as against Rs 91,790.21 crore recorded during the same period in the previous financial year. While customs duty ... More

TEXTILES
`Textile enterprises must focus on customer relationship'
WITH the shift in the dynamics of textile businesses towards buyers-market orientation, the textile enterprises especially those run on traditional lines need to change focus on marketing with emphasis on customer relationship management, ... More

`Cotton mill workers facing hardships'
COTTON spinning mills workers around Madurai and the southern districts are in dire straits, the National Textile Workers Union affiliated to the Indian National Trade Union Congress has claimed. The General Secretary of the Union, Mr K.S. ... More

Weaving a patent
Weavers handling yarn at Pochampally village in Nalgonda district in Andhra Pradesh on Tuesday. Pochampally is one of the 31 villages in 20 States identified by the Centre to promote rural tourism. The famed `ikkat' designs and silk sarees of ... More

TYRES
Plea to scrap special excise duty on tyres for replacement market
Tyres made for the replacement market currently attract 16 pc basic excise duty plus 8 per cent special excise duty. More

RADIO/TV
Dish TV hopes to rope in Star, Sony
DISH TV, Zee Group's DTH operation, has approached Star and Sony for providing their channels on its DTH platform. "`We sincerely hope that in the spirit of regulations they will positively respond within a period of 30 days as provided in the ... More

FOODS & FOOD PROCESSING
New director for National Institute of Nutrition
DR BHATTIPROLU Sivakumar, has been appointed as the Director of the National Institute of Nutrition (NIN), one of the biggest institutes under the Indian Council of Medical Research (ICMR). He will also head the Food and Drug Toxicology ... More

INDUSTRY ASSOCIATIONS
CII to build networking platform for Indian Americans
IN order to tap the Indian American community, the Confederation of Indian Industry (CII) has set up a group called the CII Council on Indian Americans, which would provide a networking platform. The council would work towards creating a ... More

BIO-TECH & GENETICS
Bio-informatics institute ties up with Sun Micro
THE Institute of Bio-informatics, Bangalore, a non-profit organisation engaged in research in genomics, proteomics and bio-informatics, has announced a technical collaboration with Sun Microsystems to strengthen its activity for providing ... More

SCIENCE & TECHNOLOGY
India Science Lab plans expansion
THE India Science Laboratory (ISL), which carries out critical research to complement the automotive giant General Motors' (GM) research programmes in the US, will be scaling up its strength from the current 40 to 100 by the end of next year. ... More

FOREIGN DIRECT INVESTMENT
Investment panel gets down to business
THE newly constituted Investment Commission, headed by the Tata group Chairman, Mr Ratan Tata, will set up meetings with domestic industrial houses and large overseas companies to secure a "certain level" of investments every year. As per the ... More

EVENTS
3-day home textile trade expo in Karur
THE first-ever technology and allied products exhibition for the home textiles industry will be held in Karur between December 17 and 19. The three-day tradeshow being organised by the Tirupur-based event management firm Quadrant Media and ... More

TN Chamber fair to focus on indigenous products
THE trade and industry fairs in the city seek to provide more than just maximum exposure and market for indigenous products. They are now more value-added with focus and guidance into the future. The eighth `Chamber Trade Fair 2005' for 18 ... More

EXPORTS & IMPORTS
Vegoil imports slow down
NOVEMBER witnessed an expected slowdown in imported vegetable oil arrival due to availability of indigenous oils from the kharif-harvested oilseeds. The 3.2 lakh tonnes (lt) imported last month comprised mainly 1.69 lt of soyabean oil; 1.06 lt ... More

Exports rise 26 pc in November
CONTINUING its consistent good run, the country's exports grew by 25.91 per cent in dollar terms in November with the cumulative export growth for the period April-November, 2004 logging a robust 24.02 per cent at $46,393.61 million than the ... More

New agencies to certify metallic scrap imports
THE Government on Tuesday released a new list of authorised agencies for inspection and certification of metallic scrap imported into the country. The new list has been announced on account of the recent revision in the import policy on ... More

Carotenoid norms on crude palm oil imports may go
THE Union Government may do away with the minimum 500 mg per kg carotenoid specification currently applicable on imported crude palm oil (CPO) for it to attract 65 per cent basic customs duty, as against the 75 per cent charged on refined ... More

Exporters hit by new interpretation of tax rules
BUSINESS at export houses across industries in Mumbai is taking a beating with the Mumbai Income-Tax Department's interpretation of Section 80HHC under the Tax Exemption Rules. According to the Federation of All-India Textile Manufacturers' ... More

TOURISM
Pondy Tourism plans 360-degree campaign
PONDICHERRY Tourism is all set to project Pondicherry as the most happening holiday destination. The tourism body recently kicked off a 360-degree campaign, which includes a series of below-the-line activities, cross-promotions, PR activities, ... More