The Hindu Business Line : Tuesday, October 23, 2007

FOREIGN TRADE
FICCI against free trade pact with China now
New Delhi, Oct 22 Industry chamber FICCI has suggested that India should neither enter into an FTA with China, nor grant it ‘market economy status’ for the time being. The chamber has said that the idea of a full-blown free ... More

Chidambaram to visit Norway
The Union Finance Minister, Mr P. Chidambaram, will be on a three-day visit to Norway from October 23. During his visit, Mr Chidambaram will hold bilateral discussions with his counterpart, Ms Kristin Halvorsen. The two ministers ... More

Free trade pact with Asean by ‘next month’
India is hopeful of striking a deal with Asean on a free trade agreement (FTA) by next month, according to the Commerce Secretary, Mr G.K. Pillai. “The differences have been more or less sorted out. The main differences are only ... More

Italy sets aside €10 m to boost trade ties with India
India is the focus country at the Rome festival, partly due to the fact that the Italian Government has decided to show special interest in India this year, setting aside a €10-million package to promote trade activities between the two ... More

INFRASTRUCTURE
Adanis’ Mundra Port IPO may raise Rs 1,500 cr
The Adani Group-promoted Mundra Port and Special Economic Zone Ltd (MPSEZL), currently developing the country’s largest privately-run, multi-commodity hub here, plans to raise Rs 1,500 crore for a modern infrastructure behemoth in ... More

PETROLEUM
ONGC Mittal acquires 30% in exploratory block in Turkmenistan
New Delhi, Oct. 22 ONGC Mittal Energy Ltd (OMEL), the joint venture between ONGC Videsh Ltd (OVL) and Mittal Investment Sarl (MIS), has acquired 30 per cent participating interest (PI) in an exploratory block in offshore Turkmenistan in ... More

PHARMACEUTICALS
Pharma body plea to cut interest on shipment credit
Hyderabad, Oct 22 Pharmexcil, the apex body of pharmaceutical export companies, has appealed to the Union Government to reduce the rate of interest on pre-shipment and post-shipment credit to exporters, in the wake of appreciation of rupee ... More

GTZ signs pact to aid pharma SMEs
Continuing its focus on supporting ‘Pharma clusters’ in India, GTZ, the German Technical Cooperation, has signed a memorandum of understanding (MoU) with the Drugs & Pharmaceuticals Manufacturers Association (DPMA) here. ... More

STEEL
Posco has no plans to shift location: CM
The Orissa Chief Minister, Mr Naveen Patnaik, on Monday said that Posco had no plans to shift its 12 million tonne per annum capacity steel project from Jagatsinghpur district of the State.Talking to presspersons here, Mr Patnaik said ... More

TAXATION
Powers for tax recovery officers
The Finance Ministry has passed on certain powers of an income-tax assessing officer to the tax recovery officer (TRO) in the I-T department. A TRO has been given power to rectify the mistakes apparent from the face of record regarding tax ... More

TEXTILES
Textile seminar to focus on need for global vision
The Confederation of Indian Industry (CII), Southern Region, in association with the Southern India Mills’ Association (SIMA), is organising the annual textile event –‘Comptex 2007’ – on October 26 and 27 at The ... More

WATER
Growing menace
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CARS
Hybrids: Toyota wants import norms eased
Tokyo, Oct. 22 Toyota Motor’s Indian subsidiary has asked the Government to consider relaxing norms for import of hybrid cars such as Prius.An official with Toyota Kirloskar Motor Company told Business Line that ... More

FOODS & FOOD PROCESSING
Food processing biz lures global pvt equity players
‘Cos are recording higher growth rate from this sector’ More

REAL ESTATE & CONSTRUCTION
Sunteck gets Rs 140 cr from Kotak realty fund
Mumbai, Oct. 22 The Mumbai-based Sunteck Realty Group, on Monday said it would receive a significant investment of Rs 140 crore from Kotak Alternate Opportunities (India) Fund to part finance its expansion plans. Sunteck Realty said ... More

Mantri sees Hyderabad, Chennai driving realty boom
Firming up plans for township, hotel projects More

Building workers seek welfare benefits
Mangalore, Oct. 22 The Karnataka State Building and Other Construction Workers’ Federation has said that building workers are not getting the benefits they are entitled for, in spite of rules to provide various benefits to them. ... More

INDUSTRY ASSOCIATIONS
IACC Karnataka office-bearers
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HUMAN RESOURCES
Kerala is a mini-Gulf for migrant workers
A PARADOX OF SORTS More

EVENTS
Animation day in Pune tomorrow
Pune, Oct 22 The Mahratta Chamber of Commerce Industries and Agriculture (MCCIA) jointly with ASIFA (Association of International Du Film D’ Animation)is organising the International Animation Day in Pune on October 24.The objective is ... More

2-day quality meet from Nov 1
The 15th annual quality summit will be held here on November 1 and 2 in the backdrop of India Inc having made a deep impression in the global market with its improved quality and in pursuit of consolidating its preferential patronage for ... More

EXPORTS & IMPORTS
Chilli exports set to surge, monopolise EU markets
April-Aug shipments at 88,000 t More

Risk policy for tobacco exports on cards
New Delhi, Oct. 22 The Commerce Ministry has agreed to examine the possibility of having a special risk policy for tobacco exports through Export Credit Guarantee Corporation (ECGC) and also a specialised institute for spices technology for ... More

Floor price may replace ban on rice exports
Commerce Ministry plans minimum shipment price of $450 More

TOURISM
SilkAir’s direct Coimbatore service
In a move that would give a boost to tourism in South East Asia and to travel to the US from western Tamil Nadu and parts of Kerala, SilkAir, the regional airline arm of Singapore Airlines, will launch direct flights between Coimbatore and ... More

Monsoon tourism
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ECONOMIC OFFENCES
Gutkha unit: Duty evasion alleged
New Delhi, Oct. 22 The Central Excise department has registered a case against Som Sugandh Industries Ltd, a gutkha manufacturer, for alleged excise duty evasion by its kundli unit. The searches conducted at the factory premises and ... More