Financial Daily from THE HINDU group of publications
Saturday, February 11, 2006
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INDUSTRY & ECONOMY

CLIMATE & WEATHER


La Nina conditions intensifying in the Pacific region
A La Nina event recurs every three to five years; the last one occurred in 2000-2001 and was a weak episode. More

BUDGET


Kerala Budget: Sales tax dept computerisation
THIRUVANANTHAPURAM: An allocation of Rs 10 crore has been made for computerisation of the Sales Tax Department. This will be used for procurement of computers, networking of offices and check posts and for data entry of 70,000 returns ... More

Kerala: No new taxes in deficit Budget
WITH the elections to the State Assembly round the corner, the United Democratic Front (UDF) Government in Kerala has presented an annual budget for 2006-07 that proposes only certain changes in the value-added tax (VAT) system, but no new ... More

Kerala Chambers hail Budget
THE trade and industry in the State has generally welcomed the Kerala Budget 2006-07, saying that it contains various developmental proposals with special focus on agriculture and rural development. Describing the budget as a progressive one, ... More

ECONOMY


NCAER pegs GDP growth at 7.8 pc — `Inflation, stocks had good run'
The Business Confidence Index for the period October-December at 151.4 is the highest level since November 1994. More

Manufacturing slowdown clips industrial growth to 5% in Dec `05
A SHARP dip in manufacturing growth, coupled with slowdown in the mining and electricity sectors, pulled down industrial growth to 5 per cent in December 2005, compared to a strong 8.9 per cent growth recorded during the corresponding year-ago ... More

Cheaper manufactured items contain inflation
Wholesale Price Index up at 196.4 points
Rates up for cottonseed (13 pc), raw silk (9 pc) & raw rubber (8 per cent)
Prices down for sunflower (7pc); eggs & fodder (4 per cent)
More

ELECTRONICS


Assocham tells electronics industry to pull up its socks
ONLY about half the demand of around Rs 100,000 crore in the electronics component sector is met by ``production'' undertaken locally, industry chamber Assocham has said and added that the electronics industry needed to pull up its socks to stay ... More

FOREIGN TRADE


Assocham, Serbian body sign MoU to boost trade
THE Association of Chambers of Commerce and Industry and the Serbian Chamber of Commerce havesigned a memorandum of understanding to provide a platform for industries of both countries to explore business opportunities. The MoU was signed in ... More

HEALTH


Apollo Hospitals plans mobile service in rural areas
APOLLO Hospitals would soon launch a mobile service in rural areas to screen people for cardiac problems and cancer. Equipped with the necessary equipment, the vans would be fanned out from various sites of Apollo Hospitals that have cancer units ... More

Savings-linked general insurance plans on cards
THE market could soon see the introduction of a host of savings-linked general insurance products. The National Insurance Academy is designing a series of such innovative products for companies such as General Insurance Corporation of India, UTI ... More

INFRASTRUCTURE


`Infrastructure is in a mess, no more expansion plans in Bangalore'
Miffed over the deteriorating infrastructure in Karnataka, global engineering giant Siemens AG has decided to freeze all expansion plans in the State. "There will be no more expansion plans in Bangalore. Our business expansion will not happen ... More

PHARMACEUTICALS


Pharma products may have Hindi labels
PHARMACEUTICAL companies may just have to change their packaging with the Ministry of Chemicals and Fertilisers asking them to label the products in Hindi and English. The Ministry has already written letters to various industry bodies asking ... More

It's now pharma stocks' turn to attract investors
AFTER sugar, tea and engineering sector, it's the pharmaceuticals that is drawing investors' attraction. Stocks led by Cipla Ltd, Dr Reddy's Laboratories, Sun Pharmaceuticals, Matrix Laboratories, Ranbaxy Laboratories and Torrent ... More

USP centre launched
HYDERABAD: The Indian centre of United States Pharmacopoeia (USP) would enable Indian pharmaceutical manufacturers to be closer to the US in terms of business and manufacturing standards. "Both countries can gain from mutual cooperation ... More

POWER


Maharashtra Govt tells utilities to chalk power saving measures
THE Maharashtra Government has asked all energy utilities supplying power to Mumbai region to prepare a plan for power saving measures. "We want to reduce the power consumption by 20 per cent for next four months, in view of the power crisis ... More

Siemens plans local tie-ups to bid for mega thermal projects
SIEMENS intends to tie up with local partners for bidding for the proposed mega thermal generation stations of 4,000 MW in the country. Speaking to newspersons today, the Siemens India Managing Director, Mr Jurgen Schubert, said: "We will pitch ... More

NTPC, Tata Power, APGenco to perk up operations of less efficient plants
The three will act as "lead partners" of SEBs and deploy their employees at the SEB stations for bringing in better management practices aimed at improving overall operational efficiency.
While the national average PLF for thermal stations was aro und 66 per cent last year, the trio of NTPC, APGenco and Tata Power have been operating stations at much higher efficiency levels.
More

SSI


`Get rated, access cheaper loans'
LARGE companies mop up money at rates close to 7 per cent. For small and medium-scale enterprises, banks charge 12-13 per cent interest. This gap of nearly 6 percentage could soon narrow to around 3 if small companies opt for credit rating, ... More

COAL


Railways set to exceed 280 mt coal traffic target
INDIAN Railways will exceed the targeted coal traffic of 280 million tonnes (mt) in the current fiscal, according to Mr A.K. Maitra, Executive Director, Rail Movement, Rail Board. Addressing a seminar on coal organised by Coaljunction here, Mr ... More

RADIO/TV


Sharing of signals: TDSAT asks MTV to negotiate with Dish TV
THE Telecom Disputes Settlement Appellate Authority (TDSAT) has asked MTV to enter into negotiations with ASC Enterprises promoted direct-to-home (DTH) platform, Dish TV, for sharing of signals of MTV and Nickelodeon. Dish TV had approached ... More

EDUCATION


`Handling success harder than handling failures'
HANDLING success is harder than handling failures, according to Dr Surinder Kapur, Chairman and Managing Director of Sona Koyo Steering System Ltd. Addressing students and faculty members of the Department of Management Studies, IIT Madras, Dr ... More

`Train teachers in geo-informatics'
HYDERABAD: Dr K. Radhakrishnan, Director of National Remote Sensing Agency, has called for efforts to update geography teachers on the latest developments in geo-informatics and spatial applications. Delivering the keynote address after ... More

Anil Ambani group to set up infotech varsity in Bengal
THE Anil Dhirubhai Ambani Group (ADAG) on Friday entered into a memorandum of understanding (MoU) with the West Bengal Government for setting up Dhirubhai Ambani Institute of Information & Communications Technology at Kalyani near here. The .. More

Mangalore varsity convocation today
THE 24th annual convocation of Mangalore University will be held at Konaje in Mangalore taluk on February 11. Speaking to newspersons on Friday, Prof K.M. Kaveriappa, Vice-Chancellor of Mangalore University, said that Dr C. Rangarajan, Chairman ... More

GEMS & JEWELLERY


Gem & jewellery sector may get trading hub status — To beat competition from Dubai, Shanghai & other centres
THE Department of Commerce is working on providing an enabling environment for converting the country's processing hub status for gem and jewellery into a trading hub so that competition from Dubai, Shanghai and other centres could be met head-on ... More

BIS plans to recognise 35 hallmarking centres
Selected entrepreneurs will be given a one-time financial incentive of 15 per cent of the cost of the machinery. More

BIO-TECH & GENETICS


Hyderabad biotech chapter launched
THE Indus Entrepreneurs on Friday announced the launch of the Hyderabad Biotech Chapter, at the second day of BioAsia 2006. This chapter will work in synergy with the Indian School of Business and Ernst & Young to promote promising ... More

Five more biotech parks in offing in AP
ENTHUSED by the success of biotechnology parks in Hyderabad and Pune, the Department of Biotechnology (DBT) proposes to set up at least five more modern biotech parks across the country in the next couple of years. Addressing newspersons at ... More

MINING & QUARRYING


National mining policy to be ready in 3 months
THE national mining policy will be finalised in three months for exploration and exploitation of mineral wealth to boost the economy, the new Union Minister of State for Mines, Mr T. Subbarami Reddy, has said. He told newspersons here, during ... More

CINEMA


Indian touch to US box office-hit
Rhythm and Hues India worked on the project from the beginning. It worked on various research and development tasks, and artists from various teams were brought in as the production tasks started ramping up. More

PRINTING


Printing ink industry wants uniform customs duty
PRINTING ink industry is seen augmenting its turnover on the back of a strong growth in its user industries such as newspaper, flexible packaging and publishing. At present, the turnover stands at Rs 1,200 crore. Printing ink requirement from ... More

FOREIGN DIRECT INVESTMENT


Naxalism may deter FDI flow into developmental projects: Report
Risk exposure greater in pockets where Naxalites have joined tribals

Naxalite movement is going through a defining moment in its existence with its expanding influence and advanced military capabilities such as mobile guerrilla warfare.
Many of the potential investment destinations, particularly for the extractive industry and core infrastructure sectors, are situated in Naxalite-affected areas, making it unviable for commercial operations
More

INCOME TAX


Taxpayer vs tax deductor
T. C. A. Ramanujam on the issue of fixing responsibility for failure to deduct tax at source More

IT raids on Roopal Panchal's premises
INCOME-TAX authorities have raided different premises of Ms Roopal Panchal and her associates, the key accused in the recent Initial Public Offering (IPO) allotment scam. "We have raided the premises (of Roopal Panchal) today. We are looking for ... More

EXPORTS & IMPORTS


Edible oil imports drop 21 pc to Rs 5,818 cr in April-Nov
The total import of sensitive items for the period April-November 2005 stood at Rs 10,756 crore (Rs 12,452 crore), a 13.6 per cent decline. More

NMCC for phased reduction in customs duties, suggests 12.5% VAT on all imports
THE National Manufacturing Competitiveness Council (NMCC) has suggested that import duty reductions should be done in phases so that Indian industry could get time to readjust itself to the trend of low import duties. Significantly, the ... More

TOURISM


Cabinet Secy told to review charges levied on foreigners
THE days of foreigners being asked to pay more for entry into monuments, staying in hotels and travel within the country could be numbered. The Prime Minister, Dr Manmohan Singh, has asked the Cabinet Secretary to review the discriminatory ... More

ECONOMIC OFFENCES


Anti-money laundering software market set for bigger growth
THE recent IPO allotment scam seems to have provided a shot in the arm for anti-money laundering (AML) software providers, who are gearing up to meet what is increasingly in demand from potential users. The AML market, the size of which is ... More



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Top Stories
Ural India to start assembling unit for trucks soon — 2nd auto unit in 64 years at Uttarpara


Edible oil imports drop 21 pc to Rs 5,818 cr in April-Nov

NCAER pegs GDP growth at 7.8 pc — `Inflation, stocks had good run'

Manufacturing slowdown clips industrial growth to 5% in Dec `05

`Get rated, access cheaper loans'

Anti-money laundering software market set for bigger growth

Oil exploration in Nigeria — ONGC looking at Korean tie-up

In Focus

Infrastructure woes stare IT sector
IPO Scams
FDI in retail sector
Dynamic Tirupur
Surging Sensex
Gold scaling new highs
More

In Depth

Gender Justice
Simple Economics
Tax Talk
More

Looking back
Jan. 29-Feb. 4
India seeks FDI that can generate employment — Assures to put 'best foot forward' to help investors

Exim Bank moots policy interventions to boost demand for vanilla

IRDA seeks review of health cover products

Carbon trading: 20 Indian projects registered at UN panel

VAT implementing States' tax revenues up 15.8% in April-Dec

Transfer pricing audits — Govt unlikely to do away with `secret comparable' practice

Creating energy security priority area: Murli Deora

Ministry moots 51% FDI in agri-business

NMDC divestment: Govt seeks EoI from merchant, investment bankers

As global majors strengthen presence — Indian cement industry logs highest growth in output

Gem & jewellery exports surge to $17 b in 2005

Over 45 pc dip in Nov-Jan vegoil imports

Crisil, ICRA to offer IPO grading services — Fitch to `wait and watch'

Deora hints at relief for oil cos in Budget

Mallya hits out at UK whisky body for lobbying against Indian-made liquor

Oil Ministry hopes to get contracted 5 mt LNG from Iran — But talks for additional 2.5 mt may be tough

Antrix-EADS Astrium team to build satellite for Eutelsat

`Growth in manufacturing sector key to generating employment'

Soyameal exports may top 22 lakh t by March-end

Govt set to garner Rs 1,100 cr from FM radio privatisation



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