The Hindu Business Line : Friday, February 22, 2008

DOUBLE TAXATION TREATIES
Pact with Luxembourg to avoid double taxation okayed
New Delhi, Feb. 21 The Cabinet Committee on Economic Affairs (CCEA) on Thursday gave its nod for the double taxation avoidance agreement with the Grand Duchy of Luxembourg.The agreement would stimulate the flow of capital, technology ... More

BUDGET
Pharmaceuticals: Hopes on R&D, tax incentives
The prospect of greater regulation of drug prices in the domestic market, a depreciating dollar and pressure on pricing in large markets such as the US, has left the Indian pharmaceutical industry at the crossroads. In the last nine ... More

Metal stocks surge on Budget expectations
Steel makers hope for export duty hikes on iron ore More

Encourage investment in pension schemes
It is important to address the need to significantly enhance the tax benefit available under Section 80 CCC (i) for investments made in pension. At present the deduction for Section 80CCC for pension schemes has been clubbed with in the overall ... More

COURTS/LEGAL ISSUES
Fresh PIL against book fair at Salt Lake stadium
Kolkata, Feb. 21 A fresh public interest litigation (PIL) has been filed in the Calcutta High Court by an advocate challenging holding of Book Fair 2008 at Salt Lake Stadium from March 1 to March 10. In the petition, it has been stated ... More

HEALTH
AP to launch mobile healthcare services in rural areas
The Government of Andhra Pradesh will launch a ‘Fixed Day Health Service’ scheme (FDHS), and a mobile health vehicle service to provide healthcare services in rural areas. It has accordingly signed a Memorandum of Understanding ... More

British Biologicals launches product for reducing cholesterol
British Biologicals announced on Thursday the launch of cholesterol-reducing nutrition support using an Austrian company’s ingredient, Benecol a natural plant extract. Introduced under the brand name Colred Benecol, the new product is ... More

INFRASTRUCTURE
Bangalore’s new airport gears up for Rs 2,500-cr expansion
Bangalore, Feb. 21 Even as the new Bengaluru International Airport is almost set for flight on March 30, its promoters are gearing up for round 2: expansion worth around Rs 2,500 crore over the next three years. The airport project that ... More

Bring software tech parks holiday scheme on par with SEZ
In the run up to Budget 2008, existing themes continue to dominate the IT/ITES industry wish list. Continuation of the tax holiday for software technology park (STP) units beyond 2009 is a key concern area for the industry, particularly ... More

PSU
Govt to clear wage dues of 12 PSUs staff
New Delhi, Feb. 21 The Government has released wages and other allowances that are due to employees of 12 public sector firms, including Andrew Yule and HMT. The Cabinet Committee on Economic Affairs on Thursday approved the proposal ... More

POWER
Kerala to get 122 MW from NTPL
Kerala will get 122 MW power from the proposed thermal project being established by NLC-Tamil Nadu Power Ltd (NTPL), joint venture between Neyveli Lignite Corporation and the Tamil Nadu Electricity Board.The Electricity Minister, Mr ... More

STEEL
Auto components industry reels under steel price hike
Rising rupee, Chinese imports also add to its woes More

TAXATION
Effective advance pricing agreement mechanism needed
The Indian Government has begun serious deliberations on introducing the Advance Pricing Agreement (APA) programme in India. An APA is a binding contract between a taxpayer and the tax authority under which the two parties agree on the ... More

WATER
Alternative ways to reuse water
Coimbatore, Feb. 21 Industrial water consumption in the country at present stands at about 40 billion cubic metre or 8 per cent of the total freshwater available and is estimated to double in the next two decades, due to globalisation and ... More

Veolia Water ties up with Doshion
Veolia Water Solutions & Technologies, a European company in the business of water treatment, has announced a joint venture with an Ahmedabad-based water management company, Doshion Ltd. The new venture, Doshion Veolia Water ... More

COAL
East Coast Rly’s coal loading remains suspended for fifth day
Strike at Talcher mines continues, stocks depleting More

RADIO/TV
Govt, DTH players to discuss interoperability of set-top boxes
‘Using technology as an entry barrier not a solution’ More

Radio sector seeks service tax cut
The radio industry is expecting the Finance Minister to announce a cut in the service tax and lowe income tax rate for the sector in the forthcoming Union Budget. Sharing his wish list with Business Line, Mr Tarun Katial, Chief ... More

EDUCATION
Usha Martin Academy launched
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MEDICAL INSTITUTIONS & HOSPITALS
MedPlus clinical referral laboratory
MedPlus Health Services, which runs a network of 280 pharmacies across the country, is planning to set up a clinical referral laboratory (CRL) soon. Besides catering to the needs of other diagnostic laboratories, the CRL would take advantage of ... More

PIMS, US varsity in pact
Prathima Institute of Medical Sciences, Karimnagar, has entered into a Memorandum of Understanding with School of Medicine, Southern Illinois University, US, for student exchange and faculty training. Speaking to newspersons after signing the MoU ... More

REAL ESTATE & CONSTRUCTION
‘Green’ homes to earn carbon credits
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HDIL agreement with Mack Star
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KNITWEAR & HOSIERY
Tirupur exporters highlight issues affecting growth
Memorandum submitted to Parliamentary panel members More

FOREIGN DIRECT INVESTMENT
SKIL Infra’s FDI proposal referred to CCEA
New Delhi, Feb. 21 The Foreign Investment Promotion Board (FIPB) is learnt to have referred to the Cabinet Committee on Economic Affairs (CCEA) a proposal by SKIL Infrastructure Ltd entailing additional foreign investment of up to $50 million. ... More

RURAL DEVELOPMENT
Cabinet approves two financial inclusion funds
New Delhi, Feb. 21 To provide low-cost credit to low income groups and weaker sections under its financial inclusion programme, the Government today cleared setting up of two funds with a corpus of Rs 500 crore each. The Cabinet on Thursday ... More

EVENTS
Kerala Ministers want old and new industries treated equally
Even as it focuses on sectors such as food-processing, textiles and IT for its growth, Kerala must also work to modernise and professionalise its traditional industries, said the State Industries Minister, Mr Elamaram Kareem. ... More

EXPORTS & IMPORTS
‘Export target will be realised’
Kottayam, Feb. 21 The target to export 50,000 tonnes of rubber this year will materialise said Mr Sajen Peter, Chairman, Rubber Board. Addressing a meeting of the exporters convened at the Rubber Board, he hoped — as the exporters had ... More

Interest subvention on export credit: CCEA clears additional Rs 500 cr
New Delhi, Feb. 21 Providing export credit at lower rates to exporters would cost the exchequer about Rs 800 crore this fiscal. Under the interest subvention scheme, where the Government steps in by picking up a part of the interest ... More

ECONOMIC OFFENCES
Pact with Russia to combat illicit narcotics trafficking
The Cabinet on Thursday gave its ex-post-facto approval for the bilateral agreement signed on November 12, 2007, at Moscow between India and Russian Federation on co-operation to combat illicit trafficking in narcotics, psychotropic substances ... More