The Hindu Business Line : Thursday, July 12, 2007

ECONOMY
Let us applaud the RBI
The rupee has been allowed to appreciate in tune with demand and supply, and the gains are immense. The strong rupee will spur demand. Consumption rises when interest rates fall. Rising supply and demand together induce growth. It is clear, therefore , that the RBI is on course to winning its battles robustly, and the central bank deserves a salute, says . More

Moody’s assigns stable rating for Indian banks
Robust macroeconomic environment continues to bolster financial performance More

FOREIGN TRADE
Turkey seeks Indian investments
New Delhi, July 11 Turkey has selected India as a strategic partner to accelerate the growth of the country, said Mr Alpaslan Korkmaz, President and Chief Executive Officer, Investment Support and Promotion Agency of the Republic of ... More

INFRASTRUCTURE
InKEL taking up 4 projects this year
More

PETROLEUM
MRPL examining alternatives for benchmarking Cairn’s crude
Looking for non-Indonesian crude basket proposed by Cairn-ONGC More

GSPC mulls overseas arm for exploration abroad
Has interests in 8 blocks in Australia, East Timor, Egypt, Yemen More

TAXATION
REACTIONS OF THE BIG 4 TO THE MORGAN STANLEY VERDICT
Need for ‘safe harbour’ provisions
Safe harbour rules provide the circumstances in which the tax authorities would automatically accept transfer prices. More

Two lessons for policymakers
The decision affords the much desired stability and consistency, in relation to the vexed question of PE arising in specific circumstances. More

Will front-office operations be impacted?
The concept of ‘software PE’ appears to be novel. The OECD Commentary says that, in certain circumstances, a server could constitute a PE. More

‘Right’ arm’s length approach
MNCs need to structure their inter-company assignments with care, taking into consideration the nuances of the Supreme Court’s order in the Morgan Stanley case, says Mr Amitabh Singh, tax partner, Ernst & Young.The reference is ... More

Morgan Stanley decision lays down guiding principles
Taxability of captive BPO operations More

SSI
Development Credit Bank foraying into microfinance
Plans to double its SME lending to 70% in one year More

TERRORISM
Moving on
More

FOODS & FOOD PROCESSING
Taking root
Organic foods is an emerging segment in retail that hopes to leverage the burgeoning health-consciousness among consumers. More

REAL ESTATE & CONSTRUCTION
‘Customer preferences guide flooring patterns’
Developers prefer to use environment-friendly products More

INDUSTRY ASSOCIATIONS
FICCI initiative on affirmative action
New Delhi, July 11 In a bid to give a fillip to its affirmative action initiative, industry body FICCI has constituted committees to facilitate upliftment of the backward classes.Mr Onkar S. Kanwar, Chairman and Managing Director of ... More

GENDER
Women employees to form majority at Radhakrishna Foodland
Mumbai, July 11 Mumbai-based Radhakrishna Foodland is planning to replicate the Wal-Mart model in terms of tilting its balance towards recruiting a majority of women employees. Having served as General Manager retail operations at ... More

FOREIGN DIRECT INVESTMENT
Kerala, UAE form joint working group
Thiruvananthapuram, July 11 Kerala and the United Arab Emirates (UAE) have formed a joint working group to identify industrial and commercial projects in the State to which investments from the UAE can be attracted.The idea of a joint ... More

INCOME TAX
Rejection of tax returns without enclosures?
Though there is no official instruction or circular from the tax authorities that Form-16 or other certificates must accompany the income-tax return, field staff in the Department have not been accepting returns without the enclosures such as ... More

NATURAL CALAMITIES
Floods worry Nilgiris tea producers
Coonoor, July 11 The flood situation in Rajasthan, Gujarat and Maharashtra is causing concern to tea producers of the Nilgiris on the eve of the auctions of the Coonoor Tea Trade Association (CTTA) on Thursday and Friday with a huge volume ... More