The Hindu Business Line : Wednesday, July 13, 2005

Wet spell in northwest to continue for 2 more days
THE ongoing interaction between the prevailing monsoon system and an incoming western disturbance is expected to continue over the next two days bringing fairly widespread to widespread showers over many parts of northwest India. According to ... More

ACCOUNTING STANDARDS

CA employee in accounting firm cannot attest
THE Central Council of the Institute of Chartered Accountants of India (ICAI) has shot down a proposal to allow an employee chartered accountant (CA) in a firm of chartered accountants to undertake attest functions. "After lot of debate, the ... More

ECONOMY

Industrial production rises 10.8% in May
THE Index of Industrial Production for May 2005 stood at 213.0, up 10.8 per cent compared to the corresponding month of the previous financial year, according to an official release. The indices of industrial production shows that the mining, ... More

Kelkar panel's defence report to be out soon
THE Union Defence Minister, Mr Pranab Mukherjee, said on Tuesday that the final report of the Vijay Kelkar committee on the integration of the defence sector and the Indian industry is expected at the end of the month or early next month. In ... More

FOREIGN TRADE

India, US all set to expand high tech trade
INDIA and the US are poised to expand high technology commerce and move out of a sourcing relationship to a business relationship that would raise the demand on the American system, according to a top Government official. Speaking at a US-India ... More

INFRASTRUCTURE

Jebel Ali to help Vizag SEZ
JEBEL Ali Free Zone Area (JAFZA) in Dubai, built around the 11th largest port in the world, will assist the Andhra Pradesh Government in expanding the special economic zone (SEZ) in Visakhapatnam. Jebel Ali is already involved in developing the ... More

PETROLEUM

No differences with India, Iran on pipeline project: Pak
THE over $4 billion Iran-Pakistan-India gas pipeline project seems to be inching towards reality. Pakistan today reconfirmed its commitment to the project, stating that it had no differences with India and Iran over pipeline. It assured that ... More

BPCL wary of stepping into auto LPG filling stations
BHARAT Petroleum Corporation Ltd (BPCL) is aware of the potential of the LPG application in the automotive sector. But, the public sector oil company is in a dilemma in setting up auto LPG filling stations considering the unchecked diversion of ... More

POWER

IDFC offers to refinance SEB dues to PFC\REC
But says discoms must be privatised
INFRASTRUCTURE Development Finance Company Ltd (IDFC) has offered to refinance the dues of State electricity boards and corporations to Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) Ltd. IDFC officials said they ... More

Power play
Shiv Sena activists protesting against the hike in electricity tariff by the Delhi Government in the Capital on Tuesday.

TAXATION

`e-filing has made tax system more transparent'
THE Finance Minister, Mr P. Chidambaram, today said that electronic filing and processing of tax returns have made the tax system more transparent and this in turn would help widen the tax base. Addressing a meeting of the Parliamentary ... More

AP worried over poor VAT collections
One of the reasons for the poor collections could be the feeling of uncertainty with regard to applicable rate of tax. More

SSI

SSI clients of UCO Bank to be rated by Crisil soon
THE rating scheme devised by the NSCI-Crisil combine will now cover borrowers operating in the small-scale sector being assisted by UCO Bank. An MoU to rate the Kolkata-based bank's SSI clients under the scheme will be signed between the bank ... More

FOODS & FOOD PROCESSING

India consumed Rs 41,000-cr junk food in 2003
THE total value of junk food consumed in India in 2003 was about Rs 41,000 crore; of which, rural areas accounted for a little over Rs 22,000 crore. Roughly one could say that the market was split about equally between rural and urban areas, ... More

REAL ESTATE & CONSTRUCTION

Cost building up
Steel unloading in progress at a construction site in Kochi. A study conducted by the Construction Industry Development Council states the construction cost index has recorded a 1.17 per cent rise due to increase in prices of inputs for cement ... More

LEATHER

Leather industry to get tech upgradation fund
THE leather industry is set to see major investments with the Centre sanctioning a Rs 290-crore technology modernisation fund. According to Mr Rafeeque Ahmed, Chairman, Council for Leather Exports (CLE), the fund will be available to all ... More

TEXTILE MACHINERY

China's textile machinery delegation to visit Mumbai, Coimbatore
A TEAM from China's textile machinery manufacturing industry, which is visiting India later this week under the China Texmatech Co (CTMTC), will interact with the members of the Indian textile industry at Mumbai and Coimbatore. The CTMTC ... More

PHOTOGRAPHIC & ALLIED PRODUCTS

World Photography Day
HYDERABAD: The Andhra Pradesh Photographers Association is conducting a contest and photo exhibition to mark the World Photography Day on August 19. It has invited photojournalists working in the State to send a minimum of five photographs ... More

FOREIGN DIRECT INVESTMENT

AP Govt still hopeful of Volkswagen project
THE Andhra Pradesh Government is still optimistic of attracting Volkswagen to set up manufacturing unit at Visakhapatnam despite coming under cloud for its suspicious role in transferring Rs 11 crore in advance to a nominee company - Vasishta ... More

RURAL DEVELOPMENT

Govt confident of raising Rs 6,500 cr for Mission 2007
HAVING allocated Rs 100 crore through Nabard for connecting 10,000 telecentres across the country, the Government today indicated that it would find "ways and means" to meet further fund requirement for Mission 2007, a project aimed at setting up ... More

TRADE & LABOUR UNIONS

Tripartite meet on Bengal tea workers' strike tomorrow
A TRIPARTITE meeting of representatives of the tea industry in North Bengal, State Government officials and trade unions has been convened on July 14 to break the impasse over the ongoing indefinite workers' strike in the tea industry in North ... More

EVENTS

Meet on nano materials at Sivakasi
MADURAI: The Mepco Schlenk Engineering College at Sivakasi in Virudhunagar district is organising an international conference on nano materials, Nano 2005, from Wednesday. According to a press release, the conference organised for the ... More

Trade fairs in Hyderabad from October 6-8
HQ LINK Private Ltd, a Singapore-based organisation, would organise a series of trade fairs in Hyderabad from October 6 to 8, according to Mr C.V. Atchut Rao, President of Federation of Andhra Pradesh Chambers of Commerce and Industry ... More

EXPORTS & IMPORTS

Steel producers feel the heat as Chinese banks dishonour LCs
STEEL manufacturers exporting to China have found that Chinese State-owned banks are going back on their Letter of Credit (LC) commitments. This is a practice increasingly being adopted by Chinese buyers with support from their banks following ... More

Recovery proceedings on DEPB taxation to be put on hold till August 31
THE Central Board of Direct Taxes (CBDT) has directed its field formations to keep all recovery proceedings relating to the issue of taxation of profits from sale of duty entitlement passbook (DEPB) licences in abeyance up to August 31. The ... More

Five commodities emerge top performers in April '05 exports
FIVE commodities, both conventional and non-conventional, accounting for close to 39 per cent of the country's aggregate exports, have emerged as the top performers in exports during the inaugural month of 2005-06. They are transport ... More

Shrimp exports fall sharply post-tsunami
THE country's marine exports have dipped sharply ever since the tsunami struck India's vast coastline. "On the heels of the December 2004 tsunami, according to the most recently compiled statistics, US shrimp imports from India dropped 57 per ... More

Exporters facing risk of unhedged euro exposure
WITH the euro depreciating against the rupee, commodity and diamond exporters to European destinations face the prospect of reduced earnings. Since 2003, exporters to Europe have been invoicing their shipments in euros instead of dollars. The ... More

NATURAL CALAMITIES

Speed up relief, rehab measures for flood victims, urges AP CM
THE Chief Minister, Dr Y.S. Rajasekhara Reddy, on Tuesday directed the official machinery to expedite relief and rehabilitation measures, according priority to contain epidemics, to those affected due to the recent flash floods. Dr Reddy, who ... More

ALTERNATIVE MEDICINES

Training on agri-biz trade
HYDERABAD: The Central Institute of Medicinal and Aromatic Plants (CIMAP), Resource Centre, will conduct a training programme during July 27-29 on `Agribusiness Opportunities in important medicinal and aromatic plants'. In a press ... More

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