Financial Daily from THE HINDU group of publications
Saturday, July 23, 2005
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INDUSTRY & ECONOMY

CLIMATE & WEATHER


Monsoon trough's eastern end reverts to Bay of Bengal
THE eastern end of the monsoon trough has reverted to the sea mouth after descending from the Himalayan foothills in anticipation of the cyclonic circulation expected to take shape over the northwest Bay of Bengal within the next 48 hours. The ... More

NON-CONVENTIONAL ENERGY


SHG in TN establishes biogas plant for power generation
THE Amma Women self help group in Melapatti village in Kadmalaigundu-Mayiladumparai union in Theni district has successfully launched a 10-cubic-metre capacity biogas plant for generation of power, 3.5 kW per hour, using night soil. The ... More

ECONOMY


Plan panel concern over decline in public investment
The Prime Minister has set up a 10-member Group of Ministers headed by the Finance Minister to work out an alternative decision-making process on investment, and to recommend measures required to address bottlenecks and ensure expeditious decisions. More

Rise in food prices pushes up inflation
THE annual wholesale price index-based inflation rose to 4.14 per cent in the week ended July 9, from the previous week's 4.09 per cent. The spurt in the year-on-year inflation is largely due to an increase in food prices, according to data ... More

FOREIGN TRADE


`India to blame for rising farm goods prices in Pak'
POTATO prices in Pakistan have trebled in the last two months and Islamabad is blaming India for this. New Delhi is being held responsible for the rise in the prices of onion, tomato and garlic also. The reason for Islamabad blaming New Delhi ... More

HEALTH


Chandra Naidu assails Govt for `inept handling' of tribal health issues
THE Telugu Desam Party president and former Chief Minister, Mr N. Chandrababu Naidu, on Friday accused the Government of being "grossly indifferent" to the plight of Girijans dying of diseases by the hundreds in the agency (tribal) area of ... More

INFRASTRUCTURE


Cos to boycott Bangalore IT.in
`Last year's promises have not been kept and no progress has happened on the infrastructure front.' More

PETROLEUM


GAIL board clears equity participation in Ratnagiri Gas
THE Board of Directors of GAIL (India) Ltd on Friday approved an equity contribution of Rs 500 crore in Ratnagiri Gas and Power Private Ltd (RGPPL), a 50:50 joint venture between GAIL and NTPC for taking over the assets of the Dabhol Project. ... More

Gas pipeline project to be made safe of all risks, says Aiyar
THE Petroleum Minister, Mr Mani Shankar Aiyar, on Friday said that the negotiations for the Iran-Pakistan-India gas pipeline project are going on as per schedule. The whole exercise is to make the project safe from all risks, he said. While ... More

BPCL mulls petrochem feedstock production at Bina refinery
BPCL is considering production of a range of petrochemical feedstock at the proposed refinery at Bina in Madhya Pradesh. While the detailed feasibility report is expected to be ready in August, the six-million-tonne refinery is expected to ... More

IOC awaits Govt nod to offload stake in ONGC
INDIAN Oil Corporation (IOC) is still awaiting the Government's approval to offload the company's stake in Oil and Natural Gas Corporation (ONGC). According to IOC sources, the company has been making a request to the nodal Ministry, which is ... More

PHARMACEUTICALS


TN pharma dealers seek Act amendment
THE Tamil Nadu Pharmaceutical Distributors Association has demanded that the Narcotic Drugs and Psychotrotic Substances Act be amended facilitating inspection of pharmaceutical dealers by drug inspectors only. At its executive committee ... More

Yuan effect: Drug cos to feel the pinch?
THERE may not yet be a crease of worry on the forehead of Mr Satish Nachane, Managing Director of Aarti Drugs Ltd, currently on a business tour in China. But having heard of the Chinese currency yuan's revaluation on Thursday, even before his ... More

PLASTICS


Plastic units in Bengal poly park
KOLKATA: About 30 small plastic units are expected to start operations in the poly park developed by the West Bengal Industrial Development Corporation. The corporation, which has started procurement of land directly from owners, expects ... More

POWER


NTPC plans to set up power plants linked to coal mines
WITH a view to overcoming the shortage of coal supply in the long term, NTPC, the country's largest consumer of coal and the largest power producer, has decided to go for integrated projects that involve the setting up of pithead power plants ... More

TAXATION


Clubs registered as cos cannot claim service tax waiver
CLUBS registered as companies under the Companies Act would not be entitled for the service tax exemption that would otherwise be available for bodies established under a law by Parliament, a top Finance Ministry has clarified. "We had sought ... More

TEXTILES


Yuan change: No major benefit seen for textile exporters
It was unlikely that major buyers would be moving base to India because of yuan appreciation. It would require an appreciation of 10-15 per cent to have buyers rethinking outsourcing strategies. More

RADIO/TV


Discovery's travel channel carves out urban niche
DISCOVERY Travel and Living has ensconced itself among urban upscale television viewers in the country. The channel, which was launched in India in October 2004, has been able to catch the attention of urban viewers primarily because of its ... More

EDUCATION


Vivekananda College pact with Nichi-In
THE Ramakrishna Mission Vivekananda College, Chennai, has entered into an agreement with Nichi-In Biosciences, an Indo-Japan joint venture, for collaborative research in microbial biotechnology and environment safety, according to a press ... More

FOODS & FOOD PROCESSING


F&B sector upbeat on rising urban demand: Assocham
FOOD and Beverages sector is on the upturn after a sluggish growth, giving 50 per cent returns to investors in the current fiscal, thanks to the rising urban demand and well designed market strategies of companies, revealed the Associated Chamber ... More

REAL ESTATE & CONSTRUCTION


KSHB seeks reduction in Hudco's refinance rate
THE Kerala State Housing Board (KSHB) has requested the Housing and Urban Development Corporation (Hudco) to bring down the interest rate on its refinance loans. This would help the board reduce the interest on its housing loans, the Revenue ... More

LEATHER


Step up value-added leather product exports: Kamal Nath
THE Indian leather industry should step up its exports, particularly value-added leather products to $7 billion in the next five years from the current $2.3 billion so that the country's leather exports would account for at least five per cent of ... More

MINERALS


Centre reviewing iron ore export policy
'Exports may be 25-30 pc lower this fiscal'

EVEN as the Government is reviewing the export policy on how much of iron ore should be allowed to go out of the country, informed sources in the Government told Business Line that exports could be 25 per cent to 30 per cent lower this ... More

NEWSPAPERS & PUBLISHING


`Asian print media on growth path'
The National Readership Survey figures are very heartening for newspapers in India, particularly the numbers emanating from small towns where readership is increasing. More

FOREIGN DIRECT INVESTMENT


AP getting back money from Volkswagen
THE Andhra Pradesh Government is set to get back 2 million euros (about Rs 11.67 crore), with the German automotive major Volkswagen AG deciding to account for the illegal withdrawals made by its former employee. The carmaker also expressed ... More

RURAL DEVELOPMENT


Rural youth in Vizag to be trained in apiculture
THE Visakhapatnam divisional office of the Commissioner for Khadi and Village Industries is undertaking 15-day training courses in bee-keeping and honey extraction for rural youth and women in the villages and also at the extension centre at ... More

Top priority for irrigation, farmers' issues: YSR
THE State Government will strive to bring in overall development in rural areas with special thrust on irrigation projects. Addressing the two-day District Collectors' Conference at Jubilee Hall today, the Chief Minister, Dr Y.S. Rajasekhara ... More

INCOME TAX


Unhurried on the fringe
R. Anand on the delay in intimating the extension of FBT payment More

NSDL authorised to receive annual information returns
THE Finance Ministry has specified National Securities Depository Ltd (NSDL), including its TIN facilitation centres, as an authorised agency for receiving annual information returns. The Income-Tax Department relies on these returns to enlarge ... More

Chidambaram for `measured response' to market swings
THE Union Finance Minister, Mr P. Chidambaram, said here today that the uptrend on BSE Sensex and Nifty were reflections of the current potential of India's economy. Referring to the BSE that hit an all-time high today, he asked the market ... More

EXPORTS & IMPORTS


Lanka pepper quality comes under scrutiny
THE quality of pepper being imported from Sri Lanka has come under scrutiny from the trade as the shipments value is far below the current prices in the global market. According to trading sources, Sri Lanka pepper is being imported at ... More

TOURISM


Rlys planning `village-on-wheels' scheme in South
THE Indian Railways is planning to introduce `village-on-wheels' trains in the three southern states, according to the Union Minister of State for Railways, Mr R. Velu. In an informal chat with presspersons on the sidelines of the inauguration ... More

Misty woods
A tourist enjoying mist on Munnar hills in Idukki distirict. Munnar is on of the most popular tourist destinations in the State for tourists from North India and abroad. The Centre and the State Government are launching many tourism development ... More

ECONOMIC OFFENCES


Black money in the bank
T. C. A. Ramanujam discusses a case about the banking of unaccounted money More


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Top Stories
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Focus on customer insight, ad agencies told

Yuan change: No major benefit seen for textile exporters

Chidambaram for `measured response' to market swings

Metal sector may benefit from yuan revaluation

Food & beverage income pushes IHCL net up by 164 pc

In Focus

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

Gender Justice
Simple Economics
Tax Talk
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Looking back
Jul. 10-Jul. 16
Lankan pepper imports taking toll on local trade

Ministry expects 25 pc growth in textile exports

Free trade pacts turning a tool to dump spices

Even chances for a `break monsoon'

PMO working on pharma policy

Oil installations sitting ducks for hurricanes

Five commodities emerge top performers in April '05 exports

India consumed Rs 41,000-cr junk food in 2003

Shrimp exports fall sharply post-tsunami

Car sales marginally down in June

FM radio: Govt fixes net worth norm

FDI in real estate bogged down by ambiguity in norms: FICCI survey

Garment exporters grapple with tax, DEPB problems

LNG transportation — Shipping Ministry to counter move to relax charter norms

Global uncertainties have increased, says RBI Governor

Petrol dealers drop strike plan

Rogue Bay system seen delaying `break monsoon'

Indian textile exporters plan to sell their brands abroad

Price stability, prime concern for RBI


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