The Hindu Business Line : Saturday, July 14, 2007

CEMENT
TN will import cement for holding price line
The Tamil Nadu Government will import cement to curb the rise in its price, the Higher Education Minister, Mr K. Ponmudy, said here on Friday.Mr Ponmudy and the Electricity Minister, Mr N. Veerasamy, held a second round of talks with ... More

INFRASTRUCTURE
BIAL may pilot rail link to Devanahalli airport
Bangalore International Airport Ltd is ready to invest in and be a partner in providing an express rail link from the city to the airport site at Devanahalli, according to its CEO, Mr Albert Brunner. The BIAL board has approved the ... More

PETROLEUM
GSPC more than doubles capex budget
To be mostly invested on KG basin find More

POWER
KSEB tariff hike issue
The proposed reforms of the Kerala State Electricity Board (KSEB), which include hike in tariff for industrial units, would render several industries in the State unviable besides dissuading prospective investors from investing here, according to ... More

SSI
Oriental Bank to focus on priority sector
Kolkata, July 13 Burdened by the poor record in priority sector lending in eastern region, Oriental Bank of Commerce (OBC) held here a meeting of all the 44 branch heads in the region covering West Bengal, Sikkim and Assam to firm up ... More

RADIO/TV
Sahara One to launch Hindi channel
Sahara One Media and Entertainment will be launching another Hindi General Entertainment Channel. However, the saas-bahus on this one will speak an alien tongue. The international programming, novelas, sitcoms, adventure ... More

EDUCATION
ISB in tie-up with Singapore biz school
Hyderabad, July 13 The Centre for IT and the Networked Economy (CITNE) at the Indian School of Business (ISB) here, and the School of Information Systems (SIS) at the Singapore Management University (SMU), entered into a Memorandum of ... More

REAL ESTATE & CONSTRUCTION
Maytas Properties chalks big plans
Hyderabad, July 13 Maytas Properties, which has three notified IT SEZs and a host of realty projects under its belt, has set an ambitious target to develop 35-40 million sq ft area across the country in the next 3-5 years. In the three IT ... More

Real Estate Bank plans 3,000 franchisees
Hyderabad, July 13 The Bangalore-based Real Estate Bank of India (REBI), which is positioning itself as a ‘one shop’ step for real estate services, plans to invest up to Rs 25 crore in the next one year to open around 3,000 ... More

INDUSTRY ASSOCIATIONS
MCC for step-up in capital investment in agriculture
Kolkata, July 13 Merchants Chamber of Commerce (MCC), affiliated to Assocham, has chalked out an action programme to draw the Government’s attention to some of the critical issues facing Indian agriculture sector. The Chamber has ... More

READYMADE GARMENTS
Relief package: Garment exporters may recover some losses
More

SCIENCE & TECHNOLOGY
Seminar on use of space tech in farming
There is a need for greater use of space technologies in farming and agro-processing to make agriculture sustainable, economical and cost-effective, according to Mr P. Chengal Reddy, Chairman of the Federation of Farmers’ Associations in ... More

MINERALS
Kerala to come out with mining policy
More

CINEMA
Adlabs, UTV testing waters in Tamil film industry
Keen on Kamal Hassan’s ‘Dasavatharam’ distribution deal More

FOREIGN DIRECT INVESTMENT
FDI cap review on the cards
New Delhi, July 13 The Government is likely to complete the review of direct and indirect holding of foreign direct investments caps (in all sectors) by the end of this month. Official sources indicated that the entire exercise, ... More

WTO
EU, US will monitor liquor duty decision
Association urges States to act in ‘non-discriminatory manner’ More

RURAL DEVELOPMENT
Rural telephony project 2 years ahead of schedule
New Delhi, July 13 The Government’s rural telephony project under the Bharat Nirman programme is set to achieve its targets two years ahead of schedule. The Prime Minister, Dr Manmohan Singh, chaired a meeting on Thursday to review the ... More

CITI-CDRA intensifies activities in Vidarbha
Mumbai, July 13 The Confederation of Indian Textile Industry’s Cotton Development and Research Association (CITI-CDRA) are implementing Front Line Demonstrations (FLD) in Vidarbha for the third consecutive year with assistance from the ... More

EVENTS
Worry about efficiency, not currency: Narayana Murthy
Chennai, July 13 “Why should we (the industry) worry about things that are not in our control? We need to worry about matters we can control such as how to become more relevant to the customer and improving work efficiency,” Mr ... More

INCOME TAX
Refund banker scheme
The Central Board of Direct Taxes (CBDT) plans to extend the refund banker scheme to Chennai, Kolkata, Mumbai and Bangalore from September 30. At present, the scheme is operative in Delhi and Patna. Under the scheme, a scheduled bank is ... More

I-T collection to touch Rs 87,570 cr this fiscal
The income-tax collection is likely to rise in the current fiscal to touch Rs 87,570 crore from Rs 82,510 crore last year, according to industry body Assocham. The number of income-tax payers will jump from 25 million to 30 million. By ... More

Chidambaram to address I-T Chief Commissioners
The Union Finance Minister, Mr P. Chidambaram, will inaugurate the 23rd Conference of Chief Commissioners and Directors General of Income Tax on July 17. An official release said that the two-day conference would deliberate on ... More

EXPORTS & IMPORTS
Centre defends wheat import contracts
‘Prices not very high in the current new context’ More

TN will import cement for holding price line
The Tamil Nadu Government will import cement to curb the rise in its price, the Higher Education Minister, Mr K. Ponmudy, said here on Friday.Mr Ponmudy and the Electricity Minister, Mr N. Veerasamy, held a second round of talks with ... More

Q1 vehicles exports grow at slower rate
It’s not just the domestic segment where the auto industry is witnessing a slowdown, even the export market is growing at a lower pace with sales growth figures for the first quarter of 2007-08 turning out to be lower compared to the ... More

Duty drawback rates for 2007-08
The Finance Ministry has announced the new All Industry Duty Drawback rates for 2007-08 which have undergone significant changes in line with changes in inputs, duties etc. The rates have been revised upwards on most products. ... More

TOURISM
SOTC offers Malaysia package
Tourism Malaysia has tied up with SOTC to present a two-day event called ‘The Great Malaysia Holiday Bazaar’ starting July 14. The three nights Magnificent Malaysia package priced at Rs 16,999 includes accommodation, breakfast, Indian ... More

ECONOMIC OFFENCES
‘Engineering’ tax evasion
Tax avoidance is legally and morally right. This has been judiciously recognised for decades. Even in the famous McDowell and Co. Ltd. v. CTO (154 I.T.R. 148), the majority view was that tax planning may be legitimate provided it is within the ... More

PEOPLE
‘Silver Elephant’ presented
Mr M. Ramachandran, Secretary, Ministry of Urban Development, was presented the ‘Silver Elephant’ award by the President, Mr A.P.J. Abdul Kalam. The award was given in recognition of his contribution to the growth of Uttarakhand as ... More