The Hindu Business Line : Tuesday, December 04, 2007

NRIS
2 banks cut FCNR, NRE deposit rates
Mumbai, Dec 3 Bank of Baroda and Dena Bank have cut interest rates on FCNR (B) and NRE deposits with immediate effect. In the case of FCNR (B) deposits for both Bank of Baroda and Dena Bank, the interest rates on dollar deposits of ... More

CONSUMER ELECTRONICS
Pioneer bets on in-car entertainment market
New Delhi, Dec. 3 Car-entertainment major Pioneer Corporation is riding piggyback on the buoyant car market in India. The company is upbeat about its growth prospects in the Rs 1,200 crore in-car entertainment market and has launched car ... More

ECONOMY
MNCs, Indian cos to invest Rs 1,62,079 cr in Rajasthan
Leading Indian and multinational companies have pledged a total investment of Rs 1,62,079 crore during the just-concluded ‘Resurgent Rajasthan partnership summit’ in Jaipur. Aimed at transforming the desert State into an ... More

‘Asian markets will feel the heat from US slowdown’
New Delhi, Dec. 3 The slowdown in the US economy may have less impact on the Indian GDP growth rate but Asian markets have not yet decoupled themselves from the world’s largest economy according to Mr Stephen S. Roach, Chairman, Asia, ... More

Centre on course to meet fiscal deficit target, say economists
Slippage in revenue deficit seen More

Through the magnifying glass
The Indian economy and equity markets continue to be resilient. Third quarter growth dipped only slightly to 8.9 per cent compared to 9.3 per cent in Q2. True, the same period last year saw double digits, but the ‘sacrifice’ is ... More

Biz confidence of India Inc bounces back
NCAER survey shows 8-point increase in confidence in second quarter More

ENVIRONMENT
FICCI says no to carbon tax concept
New Delhi, Dec. 3 While suggesting sector specific measures that would encourage Indian companies to adopt technologies that reduce green house gas (GHG) emissions, industry body FICCI today spoke out against the idea of levying a carbon tax ... More

FOREIGN TRADE
India must do a China in Africa
More

Indo-Czech trade set to cross $1 billion this year
‘The scope for growth is far higher’ More

FIEO workshop in Mangalore
Federation of Indian Export Organisations (FIEO) will conduct a workshop on ‘Growth opportunities and emerging trends in international trade’ in Mangalore on December 10. A press release said here on Monday that the workshop ... More

INFRASTRUCTURE
‘Poor infrastructure hinders building centres of excellence’
Fragmented market also cited as reason More

PETROLEUM
Moody’s lowers IOC outlook to negative; RIL stable
Mumbai, Dec. 3 Moody’s Investors Service on Monday changed the outlook on the Baa2 issuer rating of Indian Oil Corp Ltd (IOC) to negative from stable, while affirming the stable outlook for the Baa2 issuer and senior unsecured rating of ... More

PHARMACEUTICALS
Kerala warns druggists
Thiruvananthapuram, Dec. 3 The Government will take stringent action against pharmaceuticals and distributors who refused to supply drugs to the retail outlets of the State Civil Supplies Corporation.The Minister for Food and Civil ... More

TEXTILES
SIMA calls for uniformity in power cut schedule
Capacity utilisation loss in textile mills may go up More

SSI
Symantec upbeat on SMBs
Coimbatore, Dec. 3 Symantec India is gung ho about the business prospects in the Small and Medium Business (SMB) space.With 54 per cent of the IT spend in the country coming from the small and mid-sized businesses, this market is ... More

TRAVEL & PLACES
UK visa centres closed from Dec 7-11
New Delhi, Dec. 3 The UK Visa Application Centres operated by VFS Global across India will be closed from December 7 to 11. The centres will, however, be open from 9 a.m. to 2 p.m. for passport collection only during the closure period. ... More

REAL ESTATE & CONSTRUCTION
UAE realty firm Rakindo announces $5 b investments
New Delhi, Dec 3 A Rs 10-crore home ($2.5 million ) in a 400-acre Marina on the Bay of Bengal, just an hour’s drive from Chennai could be up for the taking in a few years. It will come up along with a miniport, and be developed as a ... More

SCIENCE & TECHNOLOGY
CCMB to host meet on genes
Hyderabad, Dec. 3 The Centre for Cellular and Molecular Biology (CCMB) will organise a three-day international symposium on ‘Dissecting the role of genes and environment in complex disease’ here from December 6. The ... More

MINERALS
Assocham sees scope for more mineral reserves discovery
Kolkata, Dec. 3 Recoverable reserves of some of the key minerals in the country between 1970 and 2000, except for bauxite, have not shown any significant increases. Analysing the reasons for this, a joint study by Assocham and KPMG ... More

DISINVESTMENT
RINL board okays 25% stake sale
5% to go to employees, 20% to public More

FOREIGN DIRECT INVESTMENT
Multi-product SEZs may be allowed to buy more land
Relaxation in ceiling to happen on a case-to-case basis More

RURAL DEVELOPMENT
Create urban opportunities for rural India: Mani Shankar Aiyar
Call for participatory development, inclusive governance More

INCOME TAX
More I-T assessees drive up net direct tax collections
The Centre’s direct tax revenues continue to be buoyant, with net collections recording 44.85 per cent increase during April-November 2007 at Rs 1,45,053 crore, as compared to collections level of Rs 1,00,135 crore during the same period ... More

EXPORTS & IMPORTS
Old orders buoy export growth by 36% in Oct
Hedging for currency-induced setbacks helps; trade deficit widens More

Small spinners: Curb cotton export
More

Firms owned by Rubber Board to export RSS 1 sheets
A meeting of the Rubber Producers Societies presided over by Mr Sajen Peter, Chairman, Rubber Board, decided to export the RSS 1 sheets produced by them through the companies owned by the Rubber Board considering the low interest for the grade ... More