The Hindu Business Line : Saturday, August 09, 2008

SC okays forest clearance for Posco, Sterlite projects
Sterlite to pay 10% profit or Rs 10 cr, whichever is more, for tribal welfare. New Delhi, Aug. 8 In a significant ruling that may boost the morale of the investing community, the Supreme Court on Friday gave its go ahead for diversion of ...

Cabinet nod for Punjab & Sind Bank equity rejig
New Delhi, Aug. 8 Punjab & Sind Bank (PSB) may soon be able to tap the capital market through an initial public offering (IPO) at a reasonable premium, with the Union Cabinet on Friday giving its nod for restructuring its equity capital. ...

Mr Pramod Kumar Rastogi, ... BSE drops plan to acquire stake in NMCE
Mumbai, Aug. 8 The Bombay Stock Exchange on Friday dropped its plans to pick up a stake in the Ahmedabad-based National Multi Commodity Exchange (NMCE), after it had signed an agreement to do so. ...

Banks face audit burden on farm loan reimbursement
IBA takes up issue with Government. Mumbai, Aug. 8 Even as the Government is gearing up to disburse the first tranche of farm loan reimbursement by September 30, banks are facing a new problem, which could delay the entire ...

‘Rakhi’ bonds courier cos with consumers
Mumbai, Aug. 8 When physical distances keep loved ones apart, festivals become occasions to express emotions. And courier companies are doing their bit, designing innovative gift packs to bridge distances and to be part of the festive ...

More glitter in paper gold
Flaunting one’s jewellery is fraught with danger. Ask the chastened lady denizens of Chennai in particular who have displayed this hazardous proclivity that presents them as sitting ducks even to the greenhorn thief on the prowl. ...

Area under most kharif crops still lags behind
Revival of monsoon could see coverage improving. Chennai, Aug 8 Kharif crop prospects seem to be a little gloomy with acreage under most crops still lagging behind compared with the progress made during the corresponding period last year. It ...

Steel prices may continue to be under pressure
Lower demand in industrialised nations to impact rates. Mumbai, Aug 8 For a variety of reasons, the market outlook for steel does not appear positive. ...

Is inflation-adjusted tax system feasible?
With inflation rate running in double digits since the last two months, and with not signs of it falling in the near term, an issue that needs to be looked at consideration is whether the Income-Tax Act should be indexed for ...

Interest rates on credit cards set to go up
No alternative as cost of funds has gone up, say banks. Hyderabad, Aug. 8 If you are a frequent user of credit card, you better think twice before swiping it. ...

Power crisis looms large as key thermal stations starve for coal
NTPC warns of shutdowns if supplies don’t improve. New Delhi, Aug 8 The coal shortage situation that has been brewing across the country’s thermal power stations has taken a turn for the worse, with at least six major thermal power ...

Markets this week
In the absence of earth-shattering news, markets on Monday turned lacklustre and moved in a range to finish with a slender loss of 78 points in the BSE at ...

New urea policy fixes floor price at $250 a tonne
New Delhi, Aug. 8 Paving the way for increasing indigenous production of urea, the Government on Friday announced new import price parity (IPP) linked subsidy policy for production of additional urea by the domestic manufacturers over and ...

Banks act tough on 2-wheeler inventory funding
New Delhi, Aug. 8 Banks are not going slow just on retail financing of two-wheeler loans, but are also being tough with dealers on inventory funding. ...

Fresh ‘low’ presages rains into next week
Thiruvananthapuram, Aug 8 Northwest and adjoining west-central Bay of Bengal off the Orissa and West Bengal coasts is on Friday hosting the latest of the ‘low’s that beat forecasts by a full day. ...