The Hindu Business Line : Wednesday, November 12, 2008

INDUSTRY & ECONOMY

PSU: Deposit funds with public sector banks, PSUs told
Stop inviting bids from banks to park surplus cash: Chidambaram. New Delhi, Nov. 11 The Finance Minister, Mr P. Chidambaram, is understood to have once again told cash rich central public sector enterprises (CPSEs) to stop inviting bids from ...

EXPORTS & IMPORTS: Oct excise revenues fall 8.7% as slowdown bites
Customs receipts too dip in Oct; April-Oct collections rise 15%. New Delhi, Nov. 11 The Centre’s excise duty revenues declined 8.7 per cent in October 2008 to Rs 9,399 crore compared with Rs 10,293 crore recorded in the same month last ...

ECONOMY: Sensex sheds 700 points on economic worries
Mumbai, Nov. 11 Heavy profit booking after a two-day gain of more than 800 points hammered the benchmark index – the Sensex—down by almost 700 points ...

EMPLOYMENT: Sweden easing immigration rules to allow more workers
Longer stay on temporary work permit likely. Mumbai, Nov. 11 Indian labourers aspiring for a foreign job now have a better chance to land one in ...

REAL ESTATE & CONSTRUCTION: Real estate sector seeks ‘stimulus package’
Easier FDI, ECB norms, rescheduling of loans urged. New Delhi, Nov. 11 The real estate sector has petitioned the Government to ease foreign direct investment and external commercial borrowing norms and formulate a policy for rescheduling of term ...

EXPORTS & IMPORTS: Iron ore exports dip 22% in July-Oct
Kolkata, Nov. 11 Between July and October this year, iron ore exports through the country’s major ports dropped by more than 22 per cent vis-À-vis the same period last ...

ECONOMY: A high price to pay for food
Bangalore, Nov. 11 In 2006-07, rural India, as a whole, paid Rs 9.82 for a kg of cereals and urban India paid ...

ECONOMY: The agriculture-rural paradox
“India lives in its villages” is a motherhood statement, just as much as the corollary maxim that treats Indian culture as synonymous with agriculture. It is, therefore, natural that policymakers are chided for their ...

NON-CONVENTIONAL ENERGY: Karnataka to declare renewable energy policy to bolster sector
Focus on mini-hydro, solar and biomass sources. Bangalore, Nov. 11 Karnataka Government will be announcing its renewable energy policy for increasing capacity in ...

TOURISM: LTC gives a boost to tourism in North-East
Central Govt employees entitled to free air travel to N-E states. Kolkata, Nov. 11 The tourism industry in the North Eastern States of India and Darjeeling has received a much needed boost from the special Leave Travel Concession (LTC) package ...

REAL ESTATE & CONSTRUCTION: Gujarat to create 25,000 hectares land bank
Looks to attract investors for solar, wind projects. Hyderabad, Nov. 11 The Gujarat Government is now in the process of creating a land bank of about 25,000 hectares aimed at helping new investors expedite their projects, according to the State ...

STEEL: Steel Ministry for re-imposition of import duty
Hyderabad, Nov. 11 The Union Steel Ministry has written to the Finance Ministry again for the re-imposition of import duty on ...

HEALTH: Health cover for Sabarimala pilgrims
...

PETROLEUM: PM rules out immediate cut in fuel prices
Onboard PM’s Special Aircraft, Nov. 11 Ruling out an immediate reduction in petrol and diesel prices, the Prime Minister, Dr Manmohan Singh, has said the Government will wait till public sector oil companies break-even on fuel sales ...

FOREIGN TRADE: ‘Partner country’ status for Pak in India International Trade Fair
New Delhi, Nov. 11 The country’s ‘flagship exhibition’ showcasing India’s diversified industrial prowess and technological excellence through the India International Trade Fair (IITF) would be inaugurated here by ...

TAXATION: Clubs can’t be taxed under TN Luxuries Act: HC
Chennai, Nov. 11 Clubs in Tamil Nadu can’t be taxed by Government under the TN Tax on Luxuries Act, 1981, the Madras High Court has ...

KNITWEAR & HOSIERY: Tirupur exporters fear 30% dip in turnover
Tirupur, Nov. 11 Exporters in this knitwear town, who have for some months now, been apprehending a slowdown because of the global economic turmoil, now confirm at least a 30 per cent drop in export turnover ...

POWER: Shinde hopeful of more investments in power sector
New Delhi, Nov. 11 With electricity becoming an exchange traded commodity, higher amount of investments would flow into the power sector. This was stated by the Power Minister, Mr Sushil Kumar Shinde, , at the inauguration of the ...

METALS: Metals hammered a day after recovery
China stimulus package worked only for one day. Kolkata, Nov. 11 Metals, miners and metal-related stocks on Tuesday slumped after Monday’s recovery on a sentimental boost provided by announcement of long-term stimulus package ...

EXPORTS & IMPORTS: Export blues
Given the financial crisis and the looming recession in the West, it is hardly surprising that India’s exports in October suffered a setback. After five years of fairly robust growth, the contraction this October could upset targets for ...

HUMAN RESOURCES: ‘Sops for airlines to protect jobs’
On board PM’s Special Aircraft, Nov. 11 The Prime Minister, Dr Manmohan Singh, has defended the move to give concessions to cash-strapped private airlines saying the bailout was not to help the rich but to save ...

NATURAL CALAMITIES: NDMA plans study on urban flooding
Hyderabad, Nov. 11 The National Disaster Management Authority (NDMA) plans to undertake a Hyderabad flood impact framework ...

MINERALS: Ore exports to Japan, S Korea may fetch Rs 2,500 cr
New Delhi, Nov. 11 The premier trading house, MMTC, secured higher price realisation for export of iron ore from Japan and South Korea for the current fiscal albeit maintaining the same level of volume ...

PETROLEUM: Oil Ministry official may be examined in RIL-RNRL case
Mumbai, Nov. 11 A secretary-level officer from the Union Ministry of Petroleum and Natural Gas could be cross-examined before the divisional bench of the Bombay High Court on Friday in the ongoing RIL versus RNRL gas ...

PSU: PMO rejects Rashtriya Ispat Nigam, NMDC merger proposal
Hyderabad, Nov. 11 The proposed merger of Rashtriya Ispat Nigam Ltd (RINL) and National Mineral Development Corporation (NMDC) has been rejected by the Prime Minister’s ...

PETROLEUM: ONGC Videsh to make final offer for Imperial in 28 days
New Delhi, Nov. 11 With last of the necessary approvals in place ONGC Videsh Ltd (OVL), the overseas investment arm of ONGC, is now ready to cover the last leg to acquire LSE-listed Imperial Energy Corp Plc. A senior official told ...

GEMS & JEWELLERY: Diamonds are for ever!
Coimbatore, Nov. 11 For those who would like to evaluate the quality of their diamond jewellery from a reliable third party, an opportunity is presenting itself in Coimbatore with Kirtilal Kalidas Jewellers (P) Ltd organising a week ...

HUMAN RESOURCES: ‘Skilled workforce available in southern dists of TN’
Madurai, Nov. 11 Skilled workforce is available in the southern districts and industries should participate in the job fairs organised to identify them, urged Mr Thangam Thennarasu, Minister for School Education, here ...

STEEL: Output cuts may slash volumes for steel cos
Realisations already down sharply. With user industries in trouble, several steel companies in the domestic and international arena have resorted to production cuts to prune output to adjust to the likely decline in ...

PETROLEUM: Oil PSUs get Rs 22,000-cr oil bonds
The Centre has issued oil bonds to the tune of Rs 22,000 crore to three public sector oil marketing companies as compensation towards estimated under-recoveries on account of sale of sensitive petroleum products during the current financial ...

HEALTH: Karnataka doctors on strike
A round 4,500 doctors working for Health and Family Welfare Department in Karnataka have launched an indefinite strike to press their charter of demands. They are demanding salary hike on par with their counterparts in Medical Education. ...