The Hindu Business Line : Wednesday, October 04, 2006

NRIS
NRE deposit rates cut
Karnataka Bank Ltd has revised interest rates on its NRE and FCNR (B) deposit schemes with effect from October 1. A bank release said here that interest rate on NRE term deposits has been reduced to 6.30 per cent (6.41 per ... More

NON-CONVENTIONAL ENERGY
Chennai port to set up wind farm
The Chennai Port Trust plans to set up a wind farm in southern Tamil Nadu at a cost of Rs 75 crore, according to a senior port trust official. The port trust will issue a tender shortly for the project, which would be the firstof its kind. The ... More

ECONOMY
Flatter US yield curve ahead?
Voices predicting a US recession are growing louder by the day. Their view has been buttressed by the rash of weak data on several fronts - housing, jobs, consumer confidence (though it has picked up in the latest survey), business activity, ... More

Budget that deceived to impress
The neither loud nor flashy Budget left reform enthusiasts unimpressed. But the results after six months are impressive. They are proof that managerial Budgets that are based on breakeven analysis and profit planning will deliver growth and fiscal di scipline, say G. RAMACHANDRAN and R. VIJAY SHANKAR. More

ENGINEERING
`Engg services promise $750-b opportunity'
Mr B. Ramalinga Raju, Chairman of Satyam Computer Services, has said that the engineering services promised an opportunity of $750 billion globally for Indian IT solutions and services companies. The scope of business processing outsourcing too ... More

INFRASTRUCTURE
S'pore-India SEZ near Chennai soon
A new project to attract investment from Singapore-based companies into Chennai, a Singapore-India Economic Zone, is under consideration, according to Dr Balaji Sadasivan, Senior Minister of State for Foreign Affairs. In a brief interaction ... More

PETROLEUM
Indian Oil pays Rs 1,460-cr total dividend
IOC has declared dividend for 40 consecutive years. More

ONGC may soon resume operations in Sunderbans
The schedule to be finalised after re-deployment of drill-ship More

POWER
MERC hikes tariff for REL, Tata Power
Reliance users to shell out 7.5% more More

TAXATION
New Tamil portal on VAT
The Tamil Nadu Minister for Commercial Taxes, Mr S.N.M. Ubayadulla, inaugurated the first Tamil portal for value added tax (VAT), www.tnvat.com, designed by the city-based VAT and service tax ... More

Clarity on charity under service tax law
The latest among the circulars on www.servicetax.gov.in is about the word `charitable' used in the definition of `club or association service'. The circular clarifies that any exemption received under ... More

RADIO/TV
Internet radio on mobile phone
Users can access 100,000 radio stations around the world More

REAL ESTATE & CONSTRUCTION
Rs 15-cr entertainment mall coming up at Pune
Wonder Funkey, a three-storied family entertainment mall, would be opened in Pune on October 7. The 55,000-sq.ft entertainment mall is situated on the Mumbai-Bangalore highway and has simulators, video amusements, sound and light amusements, ... More

INDUSTRY ASSOCIATIONS
EFTA keen on free trade pact
The European Free Trade Association (EFTA) is keen on forging a free trade agreement (FTA) with India. The Permanent Secretary of State, Ministry of Foreign Affairs, Iceland, Mr Gretar Mar Sigurdsson, said that India represented 0.4 per cent of ... More

KNITWEAR & HOSIERY
Tirupur body to ink pact with Microsoft India for ICT
More

PACKAGING
A box to store stuff away from kids
Pharmaloc can be used to keep medicines, matchsticks, nails etc More

EVENTS
Seminar on tax credits
A one day seminar on tax credits, service tax and transfer pricing is being organised by the Sub-Chapter to the Indian branch of the Netherlands-based International Fiscal Association (IFA), here on Thursday. Chartered ... More

INCOME TAX
ICAI guidance note on fringe benefits audit
The Revenue Secretary, Mr K.M. Chandrasekhar, on Tuesday released a guidance note on audit of fringe benefits under the income-tax law. The Institute of Chartered Accountants of India (ICAI) has prepared this guidance note, which could be used by ... More