The Hindu Business Line : Tuesday, August 08, 2006

CLIMATE & WEATHER
Rains claim 52 lives in Maharashtra; flood alert in Gujarat
Heavy rains claimed 52 lives and more than one lakh people were shifted to safe places following floods triggered by rains in Marathwada region of Maharashtra over the last 48 hours. The authorities have put on high alert 178 villages on the ... More

NRIS
FCNR deposit rates hikes
Karnataka Bank Ltd has revised interest rates on FCNR (B) deposits for various maturities with effect from August 1, according to a bank release here. The revised rates for one year to less than two years are 5.04 per cent (5.01 ... More

LVB hikes RFC $ deposit rates
While increasing the interest rate on RFC $ deposit for tenure of less than six months, the Karur-based Lakshmi Vilas Bank has reduced the interest rate on NRE and FCNR (B) deposits across all slabs with effect from August 1. ... More

NON-CONVENTIONAL ENERGY
Sugar stocks up on hopes of ethanol pricing issue
Oil companies and the sugar industry have been at loggerheads More

ECONOMY
Oil price hike unlikely despite soaring crude price
Despite the Indian crude basket touching $73.56 a barrel on August 4, oil marketing companies are unlikely to go in for any immediate revision of retail oil prices. The Government had earlier taken an in-principle decision to allow the ... More

FOREIGN TRADE
Tajikistan invites Indian industry
Hydropower, coal mining, lighting industry, food and agro-processing, construction materials and tourism are some of the areas where India and Tajikistan can engage profitably, said the President of the Republic of Tajikistan, Mr Emomali S. ... More

POWER
Mankulam project finds mention in UN report
The Mankulam mini-hydel project in Idukki district, jointly implemented by the Unido Regional Centre for Small Hydro Power based here and the Mankulam Grama Panchayat, has found mention in a report by UN-Energy. UN-Energy is the principal ... More

STEEL
POSCO reduces land area for steel mill
Bid to minimise displacement of people from thickly-populated villages More

Steel execs to go on indefinite hunger strike over wages
The Steel Executives Federation of India (SEFI), at a recent meeting, has decided to go for an indefinite hunger strike at the corporate headquarters of Steel Authority of India Ltd from August 11. According to a press release issued by SEFI, ... More

TAXATION
TN Govt plans to introduce VAT Bill in current session
Tax incentives to industries to continue under the new regime More

TN sales tax revenue at Rs 3,846.3 cr
The State's sales tax revenue during the first quarter (April-June) in 2006-07 was Rs 3,846.29 crore with the total revenue of Rs 4,705 crore. Some of the other major revenue sources are Central sales tax Rs 506.04 crore; entry tax on vehicles ... More

TEXTILES
Textile Ministry for extending TUFS beyond 2007
Final decision in consultation with Finance Ministry More

Garment fair from Aug 12
The Garment Manufacturers and Wholesalers Association (GMWA) is organising a two-day garment fair for manufacturers, dealers and retailers during August 12-13, here. This is the eighth consecutive edition of the Garments Fair Hyderabad being ... More

`Textile industry must emulate China in labour, infrastructure'
Study team finds more avenues for the two countries to work together More

TERRORISM
`Indo-US nuclear deal on track'
More

`LTTE certainly wants peace'
Certainly LTTE wants it. The question is how much it is willing to compromise politically in terms of the power it wields. — MR JEHAN PERERA, MEDIA DIRECTOR, NATIONAL PEACE COUNCIL, COLOMBO More

EDUCATION
ICICI Lombard ties up with AI
ICICI Lombard General Insurance Company has tied up with Air India to offer discounts to students travelling abroad for higher education. This tie up would enable students, who are having a valid Air India ticket, to avail themselves of the ... More

BEVERAGES
Colour backdrop
GENIE IN THE BOTTLE: A painter putting a new coat of colour on a soft drink billboard in Kolkata on Monday. Soft drink companies are facing allegations of a high level of pesticide mix in their bottled drinks. ... More

IPR
`Plant Varieties Act is farmer-friendly'
To safeguard IPRs of breeders and scientists More

EVENTS
Seminar on partnership with Africa
The Confederation of Indian Industry (CII) is organising a seminar on `India-Africa Project Partnership-Showcasing Opportunities', here on August 9 to understand the business opportunities that exist in Africa. The seminar would be addressed ... More

INCOME TAX
SIB's tax saving deposit scheme
South Indian Bank has launched a fixed deposit scheme, called `Sib Tax Gain 2006', which will offer tax savings options to customers. This follows the recent Government notification, which has included fixed deposits in the list of savings ... More

EXPORTS & IMPORTS
Tamil Nadu flour mills offered Australian wheat at $220
Customs duty makes purchase by millers unviable; spot prices rise More

Oilmeal exports slip in July
Oilmeal exports slipped in July by 21 per cent to 1.80 lakh tonnes (lt) compared with the same period a year ago. However, shipments from the country remained positive for the first four months of the fiscal. According to the ... More

Wheat imports gather steam
Imports of wheat have begun to gather steam with over 1.5 lakh tonnes being discharged at various ports currently. While 62,000 tonnes of wheat, part of the second tender contracted from AWB by STC, is being offloaded at Mundra port in Gujarat, ... More

ECGC signs MoU with NSIC
Export Credit Guarantee Corporation of India Ltd (ECGC) has signed a memorandum of understanding with National Small Industries Corporation (NSIC) for marketing export credit insurance products through its service network. ... More

ECONOMIC OFFENCES
Pathak panel probe — Loose ends, grey areas
The conclusions of the Justice R. S. Pathak Inquiry Authority in the oil-for-food scandal suffer from inner contradictions. The report could have been more convincing and thorough than it actually is, says B. S. RAGHAVAN. More

Pathak report: Natwar provided political contacts
`No material to show Mr Natwar Singh derived any benefits' More