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Saturday, June 25, 2005
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INDUSTRY & ECONOMY

CLIMATE & WEATHER


Central India gets monsoon showers
WEATHERMEN watching activity in the Bay of Bengal have received further indications that the low-pressure forecast for next week is well on course, and may even surprise by maturing a few hours earlier than predicted. Speaking to Business ... More

NON-CONVENTIONAL ENERGY


IEA sees big prospects for biofuels
WITH oil prices at over $50 a barrel, biofuels have received renewed attention and have led to a surge in new bio-energy activity in industrialised and developing countries. A huge amount of investment is flowing into both production and ... More

CEMENT


`Cement, best performing sector'
CEMENT and asbestos products emerged as the best performing sector for 2004-05 in terms of market capitalisation gains among the 23 sectors tracked by the Associated Chambers of Commerce and Industry Eco Pulse Study. The sector recorded a ... More

ECONOMY


Cabinet nod for GDN headquarters in India
THE Cabinet on Thursday approved the establishment of Global Development Network (GDN) as an international organisation with its headquarters in Delhi. GDN is a global network of research and policy institutes working together to address the ... More

Infrastructure, agriculture will unleash `Global India': Shourie
We need to face the world with more confidence, and not swing between euphoria and depression, says Mr Arun Shourie. More

External debt up 7.2 pc
THE country's external debt increased 7.2 per cent to $120.9 billion at the end of December 2004, against $112.8 billion at end-December 2003. At the end of December 2002, external debt was $105.4 billion. A status report on the country's ... More

Gas price hike may increase input costs for power, steel cos
THE input costs for the fertiliser, power, steel and petrochemical sectors may go up following the decision to increase the ceiling price of natural gas. The new gas prices come into force from July 1. The Petroleum Ministry has recently ... More

Inflation rises marginally to 4.33 pc
THE annual wholesale price index (WPI) based inflation rose to 4.33 per cent during the week ended June 11, from 4.22 per cent the week earlier. The rise in inflation is mainly due to higher prices of eggs, fruits and vegetables, according to ... More

AP: Investment proposals pegged at Rs 17,609 cr
THE State Government received investment proposals to the tune of Rs 17,609 crore, from 339 large and medium industries during the financial year 2004-05. In addition to these, about 68 investment proposals from 46 units with an investment of ... More

EXCISE AND CUSTOMS


Centre's directive on excise duty — Small pharma entrepreneurs at the crossroads
TWENTY-FIVE years after being in the business of making medicines, Mr P.K. Gupta, a medium-enterprise entrepreneur, is at the crossroads again. Does he shift his manufacturing unit from Haryana to Baddi in Himachal Pradesh - the latest Mecca ... More

PETROLEUM


Rise in raw material price will not hit our margins: GAIL chief
GAIL (India) Ltd is confident that its profit margins would not get affected despite the rise in raw material or feedstock prices. The rise in input cost, which is expected to be Rs 800 crore per annum, is being caused due to the cap on the ... More

IOC gets board nod to acquire stake in Singapore co
THE board of directors of Indian Oil Corporation has accorded an in-principle approval to the company's proposal to pursue the opportunity for acquisition of equity stake in an oil and gas enterprise based in Singapore. IOC has informed the ... More

POWER


India, EU energy meet on June 29
OFFICIALS of India and the European Union will meet here on June 29 to discuss bilateral co-operation in the field of energy. The meeting follows the decision taken at the India-EU summit in Hague last November to set up a bilateral energy ... More

TN chamber seeks cut in power tariff for industrial users
THE Tamil Nadu Chamber of Commerce and Industry has urged the State Government to bring down the power tariff for industrial consumers to enable them to become competitive. A delegation of the chamber, led by its President Mr S. Rethinavelu, ... More

Deficit in power distribution cos — Karnataka opts for management contracts over divestment
FACED with low valuation of distribution circles Karnataka has opted for management contracts instead of outright divestment. Sources said this was the only option since all the four distribution companies were in chronic deficit. There was ... More

AP to seek additional gas supply for IPPs
THE Chief Minister, Dr Y.S. Rajashekhara Reddy, has complimented the Centre for agreeing to the State proposal to refer coal price to the Tariff Commission. The State now plans to seek the Centre's support for additional gas allocation for ... More

TAXATION


AP fears more revenue losses due to VAT
THE State Government fears that the revenue losses on account of the value-added tax implementation would further shoot up, with the Union Government deciding to reduce the reimbursement slab to States. Though the Union Government initially ... More

Directorate to ensure speedy VAT refunds in AP
HYDERABAD: Commercial Taxes Department of Andhra Pradesh has set up a Refund Directorate to speed up the refund mechanism, a key component of the value-added tax system. "The whole system hinges on an effective refund mechanism. Keeping ... More

SSI


Codissia to have Excise help centre
THE Central Excise Commissionerate here will set up its help centre in the premises of the Coimbatore District Small-scale Industries Association (Codissia) here. The centre will start functioning from July 1 and it will be manned by a ... More

SME Bill `is biased in favour of large units'
REPRESENTATIVES from small and tiny industries associations have condemned the Small and Medium Enterprises Development Bill, 2005, and demanded that it be scrapped. The Bill, which has been put together without dialogue or discussions with ... More

COAL


South Eastern Coalfields to develop 26 virgin coal blocks
TO maintain its top position among the subsidiaries of Coal India Ltd (CIL), Bilaspur-based South Eastern Coalfields Ltd (SECL) has decided to develop at least 26 virgin coal blocks in its command area. The company has identified the blocks, ... More

RADIO/TV


TV news channels battle to get hotter — Distribution key to growth of channels
SOME time ago, In-Time, the news division of Incablenet, went off air. Officials at the cable television company said the decision to close down the news division was primarily because of the financial unviability of such an operation. In-Time ... More

Foreign news channels to get year-long licence
FOREIGN channels such as BBC or CNN seeking uplinking permission for live reporting will now get some reprieve. Unlike earlier, when uplinking clearances were given on a temporary basis for covering important events, the Government has decided to ... More

I&B Ministry reviews NDTV share transfer plan
NDTV promoters Mr Prannoy Roy and Ms Radhika Roy's proposal of gifting 15 per cent stake in the company to daughter Tara Roy, a non-resident Indian, is being reviewed by the nodal Information and Broadcasting (I&B) Ministry. The Ministry has to . More

Programme on animal survival instincts
CRIS Cruz, a professional diver, was in a boat off the east coast of Thailand when the tsunami struck. As the sea become more and more rough, Cruz noticed a school of dolphins jumping in front of the boat, and realised that he would have to ... More

COSMETICS


Cosmetics may come under new labelling norms
AFTER the controversy surrounding the Johnson & Johnson baby oil, the Government is likely to make it mandatory for manufacturers of cosmetics such as lipsticks, soaps, fairness creams, beauty oils and shaving products to adhere to new labelling More

GEMS & JEWELLERY


Diamond jewellery expo at Vizag
VISAKHAPATNAM: Ganjam Nagappa and Son Private Ltd, Bangalore, is holding a three-day diamond jewellery exhibition here from July 1 at the Taj Residency. Mr Arun Gupta, Assistant Manager (Marketing), said at a press meet here on Friday ... More

INDUSTRY ASSOCIATIONS


Hartals in Kerala wreaking havoc: CII
PROTEST for a cause is necessary for the healthy survival of democracy. However, hartals and bandhs should not be organised at the cost of economic growth and suffering of the people, the Kerala chapter of CII has said. The CII said bandhs and ... More

SOCIAL WELFARE


Bill to enable banks to file returns on foreign contributions
THE Government may mandate commercial banks to file returns with the Union Home Ministry on all foreign contributions flowing into the accounts held by NGOs and other associations. The main objective behind such an exercise is to ensure better ... More

`Bill is aimed at decentralisation'
NGOS and other associations receiving foreign contributions can look forward to a more decentralised administrative structure under the new legal framework being planned for the FCRA. Mr Shivraj Patil, Union Home Minister, said: "The Bill that ... More

AP to renew accident cover
HYDERABAD: The Andhra Pradesh Government has decided to renew `Apathbandhu', the accident insurance scheme, for one more year commencing from October 2, 2005 in favour of ICICI Lombard. According to an official release, the insurance ... More

TOURISM


Tourism industry upbeat on domestic, foreign travel
More Indians are travelling abroad, much more than inbound travellers. During 2003, the number of Indians going abroad was 5.3 million but this grew to 6.2 million in 2004 according to provisional estimates showing a growth of 15.2 per cent. More


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Top Stories
GM India seeks FIPB nod to pay royalty to GMDAT


`Cement, best performing sector'

Satyam brand is worth over $1 b

Rubber plunges below Rs 60-mark

Free water for farming may not last: Montek

Tourism industry upbeat on domestic, foreign travel

Cabinet nod for GDN headquarters in India

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
Jun. 12-Jun. 18
Tyre producers may import 70,000 t rubber

Monsoon getting into action mode

CPI(M) formalises policy on economic agenda — `FDI okay only if it enhances country's productive capacity'

`India unfazed by US opposition to Iran gas pipeline'

Wheat tops Rs 7,500/t; imports may be dearer

Textile exports to US down in April

`SMEs may be hit if interest rate cap on export credit is hiked'

Exports register 22% growth in May

W. Australian apple growers moving processing to Chennai

RBI panel for hike in foreign currency export credit rates

SSI production up 8 pc, exports rise 21 p c

Trade to GDP ratio tops 25 pc

NTPC plans to produce 50 mt coal by 2010

BoI, SIDBI tie up to boost credit to SMEs

US co explores options for fly ash export from India

Coal India plans to augment production by 20 million t annually


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