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Wednesday, April 20, 2005

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INDUSTRY & ECONOMY

OVERSEAS BORROWINGS


ECB access for qualified NGOs
NEW DELHI: Qualified non-governmental organisations engaged in micro-finance can now use the external commercial borrowing window. An announcement to this effect was made in the Union Budget 2005-06 and has now been operationalised. Mr ... More

NON-CONVENTIONAL ENERGY


`Energy efficiency must get due attention'
ENERGY efficiency and renewable energy should receive priority attention of macro-economic planners, according to Prof Malimullah Miyan, Vice-Chancellor, IUBAT University, Dhaka. Inaugurating the two-day workshop organised by the Institute of ... More

ANTI-DUMPING


Paper makers want dumping duty on caustic soda to go
THE Indian Agro & Recycled Paper Mills Association (IAPMA) has sought the removal of anti-dumping duty on caustic flakes and caustic lime, alleging that prices of caustic soda and liquid chlorine have been increased "exorbitantly". It also ... More

COURTS/LEGAL ISSUES


Call to put legal system on the fast track
TECH-savvy foreign lawyers are getting ready to invade the country, and if "we do not modernise our judiciary and fill up vacancies for judges in the various High Courts soon, and equip the Members of the Bar adequately to face this challenge, we ... More

New CESTAT President
MR JUSTICE R.K. Abichandani, a former Judge of the Gujarat High Court, has taken charge as the President of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), a Revenue Department official confirmed. The CESTAT was formerly known ... More

EXCISE AND CUSTOMS


CII lists anomalies in Customs duty structure
THE Confederation of Indian Industry (CII) has said that certain indirect tax provisions introduced in Budget 2005-06 need a review. Though a few anomalies in the Customs duty (in case of aluminium and electricity meters) had been removed in ... More

FOREIGN TRADE


Indo-Pak amity heralds hope on prospects for mutual trade benefits
PAKISTAN President General Pervez Musharraf's three-day whistle-stop schedule in India and his meeting with the Prime Minister, Dr Manmohan Singh, on the sidelines of a one-day cricket match between the two countries , got the attention of the ... More

Assocham spots 9 areas to drive Indo-Pak trade
THE Associated Chambers of Commerce and Industry (Assocham) on Tuesday suggested nine trading areas for the proposed Indo-Pak Joint Business Council to explore setting up joint ventures and providing the legal framework for furthering closer ... More

INFRASTRUCTURE


`Better infrastructure needed to boost Indo-Pak trade'
THE Federation of Indian Export Organisations (FIEO) has called for infrastructural development across the Indo-Pak border (at both the ends) to facilitate increased cross-border trade flows. Both the countries could draw experience from the ... More

PETROLEUM


Oil marketing PSUs lose Rs 1,300 cr in two weeks
UNDER-RECOVERY on account of subsidised LPG and kerosene and price under-realisation on account of petrol and diesel have taken an abnormal toll in 2005-06. During the first fortnight of April, the oil marketing PSUs have lost a total of Rs ... More

M.P. seeks more kerosene
NEW DELHI: Madhya Pradesh on Tuesday sought increase in its allocation of kerosene (SKO) for the first quarter of the current year. In a meeting with the Minister for Petroleum, Mr Mani Shankar Aiyar, the Chief Minister of Madhya ... More

STEEL


Global consumption of finished steel products to cross 1 b tonnes
THE International Iron and Steel Institute (IISI), a global think tank for the steel industry, said on Tuesday that total consumption of finished steel products in 2005 would cross the one-billion-tonne-mark for the first time in ... More

Steel cos urged to focus on R&D to cut down costs
THE bullish phase in the steel industry is likely to last for quite some time and in order to cash in on it the steel producers should cut down costs, according to Mr Y. Siva Sagara Rao, Chairman and Managing Director of Rashtriya Ispat Nigam ... More

SAIL to finalise IISCO corporate plan by May
STEEL Authority of India Ltd is set to finalise a corporate plan for Indian Iron and Steel Company Ltd, latest by May. SAIL sources told Business Line that, apart from finalising the investment requirements, the corporate plan would also ... More

TAXATION


VAT panel not to introduce new rate for 3 months
THE Empowered Committee of State Finance Ministers on value-added tax (VAT) does not favour, for now, the introduction of a new VAT rate between 4 and 12.5 per cent. This position of the VAT panel has been conveyed to the Delhi Government, ... More

Norms laid out for tax rebates on services exports
THE Finance Ministry on Tuesday spelt out the procedures and conditions that service providers needed to comply with for undertaking services exports without payment of any service tax. The revenue department has also prescribed detailed ... More

Ordinance on VAT likely for Kerala SSI units
THE State Government is likely to promulgate an Ordinance to bring in suitable changes in the VAT structure and product schedule favouring the small industries sector, Mr Xavier Thomas Kondody, State President, Kerala State Small Industrial ... More

SSI


Union Bank advances to SSIs up 20 pc
UNION Bank of India's advances to small-scale industries grew by 20 per cent during the financial year 2004-05, to touch Rs 3,765.77 crore. The bank covered 2,247 small-scale industry units under the Credit Guarantee Fund for Small Industries, ... More

PERSONAL PRODUCTS


FMCG meet to discuss faster movement of goods in Mumbai
FMCG and retail industry players will gather in Mumbai on April 21 for an `Efficient Consumer Response' (ECR) meet to discuss how to speed movement of goods, physically and electronically in the FMCG supply chain to benefit consumers. The meet ... More

RADIO/TV


Rajdeep Sardesai forms venture with TV18
MR Rajdeep Sardesai, former Managing Editor, NDTV, and Mr Sameer Manchanda, former Chief Financial Officer, NDTV, have formed a new venture, Broadcast News, in collaboration with the Television Eighteen (TV18) Group to launch television channels ... More

SS Music to waft into US on direct-to-home
SS Music, the Chennai-based music channel, will soon be available in the US on a direct-to-home platform, Mr B. D. Ramesh Babu, President, SS Music, said. SS Music is entering the US market in association with TV Asia, which is North ... More

Cartoon Network, POGO to launch new summer shows
WITH the commencement of summer holidays, Cartoon Network and POGO are gearing up to woo the children. POGO will launch two new Indian productions, M.A.D (Music, Art and Dance) and Bam! Bam! Baam! Gir Pade Hum... while Cartoon ... More

Dish TV offers new DTH package
IN a bid to compete with Doordarshan's free direct-to-home service, the Essel group-promoted Dish TV on Tuesday announced a new package, which does away with monthly subscription fee for various channels. It has launched a new scheme wherein ... More

READYMADE GARMENTS


Lankan team visits Vizag apparel park site
THE State Government is keen on extending all facilities to prospective investors in the proposed apparel park in the Atchyuthapuram mandal of Visakhapatnam district, the Minister for Commercial Taxes, Mr K. Ramakrishna, has said. He was ... More

BIO-TECH & GENETICS


UK to put up strong show at biotech meet in Bangalore
THE British biotechnology sector, the second largest after the US, will put up a strong show at the annual Bangalore Bio 2005 event. A 10-member business delegation is participating in the expo from April 22 to 24. UK biotech companies will ... More

SCIENCE & TECHNOLOGY


Keltec develops GSLV components
STATE-OWNED Kerala Hitech Industries Ltd (Keltec) has developed two major critical components for the Indian Space Research Organisation (ISRO). The components, L40 tanks and L40 contour nozzle thrust chamber, are to be used in the second stage ... More

SOCIAL WELFARE


ESIC defers decision on higher allocation
THE governing board of the Employees' State Insurance Corporation (ESIC) on Tuesday deferred a decision on raising the allocation for workmen and their family members from Rs 750 per insured person per year to Rs 900. The move would have ... More

RURAL DEVELOPMENT


ONGC mite for AP rural growth
ONGC is spending about Rs 60 lakh for socio-economic development initiatives in the Amalapuram-Rajahmundry area every year. Further, out of Rs 1 crore spent annually by the Ravva Project operated by Cairn Energy, ONGC has a share of Rs 40 lakh ... More

STANDARDS & BENCHMARKS


Safety of baby products — Health Ministry under pressure to deliver verdict
THE Health Ministry is under pressure to pronounce its verdict on whether the baby products manufactured by companies such as Johnson & Johnson, Himalaya Drug Company and Emami are safe or not. Top officials in the Ministry said that as the ... More


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Top Stories
CII lists anomalies in Customs duty structure


Oil marketing PSUs lose Rs 1,300 cr in two weeks

Pre-blossom showers cheer up coffee growers — White stem borer still a cause for worry

Global consumption of finished steel products to cross 1 b tonnes

TCS revenue disappoints

In Focus

BHEL Disinvestment
China's revaluation
Dabhol power regenerated
Tracking the rains
Sethusamudram Canal Project
India Inc's overseas acquisition
More

In Depth

Gender Justice
Simple Economics
Tax Talk
More

Looking back
Apr. 10-Apr. 16
Trade policy: EOUs hope for I-T relief

Coal India sets production target of 343 mt for '05-06

Truck rentals slip on VAT confusion

ICICI Group forays into realty — Arm sets up dedicated fund; partners Tishman Speyer

New patent regime — Discovering new challenges

Indian cos going slow on promoting Valdecoxib

Govt may allow 20 pc FDI in FM radio broadcasting

Corporation tax mop-up touches Rs 83,311 cr

FDI enquiries building up for mid-tier realty cos

Petro product sales up 1.2% in March; diesel demand falls

Crude futures slide 9-10 pc at MCX

Power consumers set to get choice of distribution utility — 11 State ERCs issue open access guidelines

Qatar, India sign air services pact; keen to better trade ties

`World trade growth to slow down this year'

National Jute Policy aims to boost exports — Shipments to be increased to Rs 5,000 cr by 2010

Bumper year forecast for South Eastern Rly — Spurt in demand for rakes by sponge iron units

Big FMCG brands regaining lost ground from low-priced warriors

Chinese garments come cheap


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