The Hindu Business Line : Wednesday, August 06, 2008

INDUSTRY & ECONOMY

PETROLEUM: Sensex rises 383 in late surge
Mumbai, Aug 5 The fall in crude to below $120 a barrel and the positive opening of the European markets pushed Indian equities to a gain of 2.5 per cent on Tuesday. ...

INVESTMENTS: Private PF trusts may be required to get professional advice
New Delhi, Aug 5 Fund management in private sector provident fund trusts may get a more professional touch on the investment side if a proposal before the Finance Ministry was to find acceptance among policymakers. ...

TAXATION: Crude spike: Oil producers may have to share additional revenues
Panel proposes tax on producers of pre-NELP regime. New Delhi, Aug. 5 Oil producers may have to share the additional revenues earned by them as a result of sharp increase in oil prices, if the suggestions of a high-powered committee headed by ...

STEEL: Raw material security is Tata Steel’s major concern
Will scout for new sources in India, abroad for raw material. Before it acquired a plethora of overseas steel entities, Tata Steel was sitting pretty with captive availability of raw material (mainly coke) to the tune of 60 per cent of ...

ECONOMY: Gold, silver to weaken in 2009 on easing inflation
Demand may wane due to dollar recovery. Mumbai, Aug 5 Given the continued financial market turmoil in addition to geopolitical concerns, inflation fears, weaker dollar and lower US interest rates, the positive market fundamentals for gold ...

TOURISM: 20% dip in Goa tourist arrivals
Global recession, inflation hitting travel industry hard. Panaji, Aug. 5 Faced with a major dip in tourist arrivals over the past several months, particularly foreign tourists, Goa’s tourism industry is poised to debate the need for ...

SOCIAL SECURITY: Coal India plans to set up gratuity funds portfolio
Ropes in LIC to manage Rs 1,500 cr of a total of Rs 2,500 cr. Kolkata, Aug. 5 Coal India Ltd (CIL) is planning to create a portfolio of gratuity funds worth about Rs 2,500 ...

HEALTH: Reddy promises to dispel doubts on ‘Arogya Sri’
Scheme for treatment in corporate hospitals for poor people. Visakhapatnam, Aug. 5 The Andhra Pradesh Chief Minister, Dr Y.S Rajasekhara Reddy, has announced here that there will be a comprehensive debate in the Assembly, when it convenes on ...

PETROLEUM: ‘No parking lots for me post-retirement’
A crossword and Sudoku buff, and a Carnatic music lover, Mr M. S. Srinivasan, is not likely to suffer retirement blues, now that he has bowed out as Petroleum Secretary on July 31. During his tenure, marked by its share of controversies, ...

NON-CONVENTIONAL ENERGY: NTPC, GE Energy, ADB in pact for renewables venture
New Delhi, Aug. 5 State-owned generation major NTPC Ltd has joined hands with the Manila-based Asian Development Bank (ADB), GE Energy Financial Services, Kyushu Electric Power Co and Brookfield Renewable Power to form a joint venture firm to ...

URBAN DEVELOPMENT: Integrated traffic plan for Hyderabad Metro Rail project
Hyderabad, Aug. 5 With the Andhra Pradesh Cabinet giving formal approval to Nava Bharat-Maytas consortium to build the Rs 12,000-crore Hyderabad Metro Rail project, the Greater Hyderabad Municipal Corporation (GHMC) is preparing an integrated ...

METALS: Uncertainty over pricing pulls down metal stocks
Reports that Govt might put pressure on steel cos affect sentiment. Mumbai, Aug. 5 Metal stocks had a weak run on Tuesday on negative news both on the global and domestic fronts. While the Sensex rose 2.63 per cent, BSE-Metal ended the day in ...

INFRASTRUCTURE: Japan to extend Rs 4,100-cr soft loans for five projects
Chennai Metro project to get a slice. New Delhi, Aug. 5 Japan has pledged to extend soft loans amounting to more than Rs 4,100 crore for five projects, including the Chennai Metro project and Hyderabad Outer Ring Road project (phase ...

HUMAN RESOURCES: Minimum wages will be notified soon for sweepers, cleaners in contract system
New Delhi, Aug. 5 In a move that would bring cheers to the scores of workers employed through contractors in private security services that supply watch and ward personnel, and sweepers and cleaners working under contractors, the Centre will ...

FOODS & FOOD PROCESSING: Scheme to help upgrade hygiene, quality of street food
New Delhi, Aug 5 Calling for increased investment in food processing sector, the Minister of State for Food Processing Industries, Mr Subodh Kant Sahai, said the time was right since demand was also growing in a sector that was ...

EXPORTS & IMPORTS: ‘Centre’s move seen supporting large firms’
The Centre’s decision to allow companies with letter of credits (LCs) only to export maize is seen as a move that is supporting large firms. Exporters who ship in smaller lots feel that those who have filed their shipping bills or who ...

ENTREPRENEURSHIP: Entrepreneurship programme

NON-CONVENTIONAL ENERGY: Gujarat Paguthan may get IFC loan for wind power project
Chennai, Aug. 5 Gujarat Paguthan Energy Corporation, which is putting up wind power projects in Gujarat and Karnataka, is likely to get a loan from the International Finance Corporation. The company had earlier tied up debt from the Asian ...

PSU: Navratna status for Shipping Corporation
New Delhi, Aug. 5 The Government has conferred Navratna status on Shipping Corporation of India, making it the 17th member of the elite Navratna club. ...

TEXTILES: Open-end spinning mills come under one body
Coimbatore, Aug. 5 Open-end spinning mills’ associations functioning at Vellakoil, Rajapalayam, Madurai and Udumalpet have decided to come under a united banner – Open End Spinning Mills Association – with Coimbatore as its ...

PSU: AP keen on RINL-NMDC merger
Visakhapatnam, Aug. 5 The Andhra Pradesh Government is keen on the proposed merger of Rashtriya Ispat Nigam Ltd (Visakhapatnam Steel Plant) with the National Mineral Development Corporation (NMDC), as there is synergy between the two public ...

MEDICAL INSTITUTIONS & HOSPITALS: Apollo opens ‘NurseStations’
Taking a cue from the one-minute clinics in the West, Apollo Hospitals group has opened a new service called NurseStations at various Apollo Pharmacies. To begin with, 30 pharmacies in the twin cities would have trained nurses. “These ...

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