The Hindu Business Line : Tuesday, May 31, 2005

Ready to burst
Dark clouds over Thiruvananthapuram skyline as viewed from atop the Meteorological Observatory in the heart of the city. Pre-monsoon showers, accompanied by thunder, have been lashing Kerala for the past two days. ... More

PETROLEUM

IOC chief for equitable sharing of burden of under-recoveries
THE Chairman of Indian Oil Corporation, Mr S. Behuria, on Monday said there was a need for three things to happen. "International oil prices have to come down, which is happening. There should be equitable sharing of the burden of ... More

MIDC plans to foray into gas distribution
THE natural gas distribution sector in Maharashtra will see the emergence of a new player, with the State Government-controlled Maharashtra Industrial Development Corporation (MIDC) planning to foray into gas distribution. To start with, MIDC ... More

POWER

GE to partner NTPC, BHEL for Dabhol project revival
MR Scott Bayman, President and CEO, GE India, announced on Monday that GE Energy would join National Thermal Power Corporation (NTPC) and Bharat Heavy Electricals Ltd (BHEL) to determine a course of action for restarting and completing the ... More

Opposition protest against load-shedding in Mumbai
DEMONSTRATIONS and `rasta roko' were held across Maharashtra by the BJP, in protest against the load-shedding in the State. In Wardha district, demonstrators attacked the local Maharashtra State Electricity Board office.The police detained ... More

TAXATION

Kerala announces tax rates for amusement parks
THE State Government has promulgated an Ordinance fixing the entertainment tax rates that local self-government bodies can impose on amusement parks. The tax will be determined on the basis of the investment and the area it occupies. Parks ... More

TEXTILES

`WTO insensitive to crisis engulfing textile industry'
THE textile and clothing industries worldwide are engulfed in a crisis under the impact of the liberalised trade but the WTO remains `insensitive' to this, the International Textiles, Garment and Leather Workers' Federation (ITGLWF) has ... More

Removal of excise duty for synthetic sector at appropriate time: Chidambaram
THE Union Finance Minister, Mr P. Chidambaram, has assured the textile industry that the Union Government is determined to end fiscal duty distortion still lingering in the industry by removing "at an appropriate time" the compulsory excise duty ... More

States asked to desist from levying sales tax on textiles meant for exports
THE Union Finance Minister, Mr P. Chidambaram, has asked the State Governments to desist from levying sales tax on textile items meant for exports. The Union Minister said that he was ready to make common cause in this regard with textile ... More

WATER

Centre to focus on drinking water supply
KEEPING in view the worsening water crisis, the Centre has decided to focus on the availability, sustainability and quality of drinking water. Worried over depleting groundwater levels, the Government has also decided to take up watershed ... More

PERSONAL PRODUCTS

FMCG goods turn dearer
WITH increasing global oil prices, FMCG companies have been hard put to contain the resultant input cost increases over the last few months. But a combined impact of inflationary pressures and the VAT regime appears to be forcing their ... More

EDUCATION

Karnataka CET results on `R World'
MANGALORE: The results of Common Entrance Test (CET) for professional courses, conducted by the Karnataka State Board, will be available on `R World' data application suite of Reliance India Mobile (RIM) from May 31. To get the results ... More

Revamp engg education to suit IT: Karnik
ENGINEERING education has to be revamped to suit the IT industry and the numerous colleges in the country should not only focus on imparting particular skills, but also on innovation, Mr Kiran Karnik, President of the National Association of ... More

RAI offers two-month course on retailing
THE Retailers Association of India (RAI) is offering a two-month course on retailing that will guarantee a job after the course's completion. According to RAI, applicants must have an HSC or equivalent. The course commences with the first ... More

REAL ESTATE & CONSTRUCTION

Land prices fall flat near Smart City project area
THE controversy generated by the Smart City project in Kochi has eroded real estate prices in and around the project site considerably. "Land prices which were quoting Rs 35,000-40,000 for a cent a year ago has been knocked down by close to 25 ... More

Plea for changes in FDI guidelines in real estate
INDIA Inc on Monday petitioned the Ministries of Finance and Urban Employment and Poverty Alleviation not to levy further taxes on the real estate sector as this would "derail" it and "muzzle its growth-inducing impulses". The Federation of ... More

ALUMINIUM

China swings aluminium market
LATEST data from the International Aluminium Institute and other sources show that aluminium production grew by 3.5 per cent year-on-year in the first four months. It was China driving the growth, accounting for as much as 2,72,000 tonnes of the ... More

NEWSPAPERS & PUBLISHING

Roundtable on media role in Hyderabad
HYDERABAD: The Union Minister for Information and Broadcasting and Culture, Mr S. Jaipal Reddy, will inaugurate a roundtable here on June 1 on `Should there be a Laxmanrekha for news media?' The roundtable will be organised by the Press ... More

WTO

WTO talks: Govt offers new areas for services
Not keen on opening up retail, legal sectors
INDIA'S revised offer on trade in services, under the ongoing liberalisation talks of the WTO, cover a broad spectrum and new areas ranging from advertising, management consultancy, real estate services to architecture and veterinary ... More

SOCIAL WELFARE

AP Govt to put Rs 450 cr in `food for work' scheme
THE State Government will invest Rs 450 crore during the current financial year for the National Food For Work Programme, being implemented in eight districts. Agreeing that there were certain lacunae in the implementation of the Centrally ... More

REGULATORY BODIES & RULINGS

SAT gets two new members
AFTER months of lying vacant, the `member' positions at Securities Appellate Tribunal (SAT) have been filled. Mr Chandan Bhattacharya, former Managing Director, State Bank of India, has been appointed with effect from May 31, according to a ... More

INCOME TAX

ICAI finalises Guidance Note on fringe tax
CORPORATES would soon have guidance on how they should account and disclose the amounts paid towards fringe benefit tax (FBT). The Institute of Chartered Accountants of India (ICAI) has finalised a Guidance Note that requires corporates to ... More

EXPORTS & IMPORTS

Vegoil imports continuing despite losses, lower domestic prices
DESPITE negative margins and unattractiveness of edible oil imports following continued disparity between domestic and international prices, arrivals into the country have not slackened. If anything import volumes are set to rise. It is an ... More

Revision of approval norm for service exports likely
FIRST, the good news for trade and industry: The Finance Ministry has agreed to review the stipulation that requires trade and industry to get approval from the Revenue Department before exporting services. The approval is necessary if the ... More