The Hindu Business Line : Friday, December 12, 2008

INDUSTRY & ECONOMY

ECONOMY: Global auto majors accelerate pace of sourcing components from India
New Delhi, Dec. 11 The cost pressures building up for global auto companies during the current economic slowdown could well be an advantage for India. Those who have been using the country as their component sourcing base say that they will ...

SSI: Union Bank chalks out revamp package for SMEs
100 specialised branches for small, medium sector. State-owned Union Bank of India has decided to throw a lifeline to distressed micro, small and medium enterprises (MSMEs) facing the brunt of the domestic and global economic ...

ECONOMY: Infrastructure growth slows down to 3.4% in Oct
New Delhi, Dec. 11 The infrastructure sector slowed down further in October with the index for the six core sector industries posting a growth of 3.4 per cent against 4.6 per cent in the corresponding period ...

EXPORTS & IMPORTS: Sugar industry split over raw sugar import norms
Cooperative mills want curbs to go, ISMA opposes it. New Delhi, Dec. 11 The Indian Sugar Mills Association (ISMA) has opposed any relaxations in the existing advance license (AL) scheme allowing duty-free imports of raw sugar linked to white ...

ECONOMY: Second stimulus package on the cards
Focus on engg & farm sectors, refinance facility for exporters. Even as the beleaguered domestic industry has not been satisfied with the fiscal stimulus package announced on Sunday, the Union Commerce and Industry Minister, Mr Kamal Nath, ...

GEMS & JEWELLERY: Diamond biz hopes to regain sparkle this Xmas
Gujarat units begin to reopen on expectation of increased demand. Ahmedabad, Dec. 11 Severely affected by the global economic meltdown, continuously declining demand and increase in workers’ wages, the local diamond units, some of which ...

CO-OPERATIVES: NCDC allocates Rs 350 cr to Kerala for 2008-09
Funding to co-op projects in State at all-time high. Thiruvananthapuram, Dec. 11 The National Cooperative Development Corporation (NCDC) has made a tentative allocation of Rs 350 crore as developmental assistance to Kerala ...

ECONOMY: RBI chief calls for ‘significant’ policy action to tackle crisis
Extends Rs 9,000-cr line of credit to National Housing Bank, Exim Bank. Kolkata, Dec. 11 The government and the Reserve Bank of India need to take “significant” steps to counter the “significant crisis”, Dr D. Subbarao, ...

FOREIGN TRADE: India woos Spanish investment
New Delhi, Dec.11 There is huge investment potential in India in the next few years in modernisation of highways, railways, power sector, telecommunication and urban infrastructure, India has told ...

BOOKS: Scholastic bullish on books market in India
New Delhi, Dec. 11 “India is one of the fastest growing markets in Asia, and in three-four years it should be the number one market in Asia,” said Mr Frank Wong, President, Scholastic Asia. Scholastic, the world’s ...

TERRORISM: Indian Hotels gets Rs 25 cr in insurance claims
Mumbai, Dec. 11 The Indian Hotels Company on Thursday received Rs 25 crore in insurance claims arising out of the terror attack on the Taj Mahal Hotel, ...

POWER: Scope exists for pvt participation within present Atomic Energy Act
Tiruchi, Dec. 11 Indian private sector companies need not wait for an amendment of the Atomic Energy Act to participate in the development of nuclear power in India. They can well do that within the framework of the existing Act — ...

PETROLEUM: HPCL Kolkata gas supply plan hits hurdle
Kolkata, Dec. 11 Hindustan Petroleum Corporation Ltd’s (HPCL) plans to enter the city gas distribution in Kolkata through acquisition of controlling stake in State government controlled Greater Calcutta Gas Supply Company (GCGSC) and ...

MINERALS: Rlys may reduce freight charges for iron ore export traffic
New Delhi, Dec 11 The Railways may reduce freight charges on iron ore export traffic even further, Mr Shri Prakash, Railway Board Member (Traffic) indicated ...

ENVIRONMENT: Will financial crisis impact environmental issues?
Hyderabad, Dec. 11 Will the recession in the US economy impact on environment funding and shift focus from ...

HUMAN RESOURCES: ‘Slower hiring pace by Indian employers’
The global slowdown seems to be impacting the hiring plans of employers in India with only 19 per cent employers having positive recruitment plans in the next three months, according to a Manpower Employment ...

ECONOMY: ‘Growth lower than forecast but good’
Kolkata, Dec.11 India’s growth continues to remain good though it might be lower than what had been forecast for the fiscal, Ms Usha Thorat, Deputy Governor, Reserve Bank of India, said here ...

CONSUMER ELECTRONICS: Samsung drops prices on LCD, home appliances
New Delhi, Dec. 11 Samsung has reduced the prices of LCD televisions and home appliances. It has effected price cuts ranging from Rs 500 for a 22” LCD model to Rs 10,000 for a Samsung 52” LCD ...

BOOKS: Remembering MS
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LOTTERY: Lottery sales set to reach Rs 500 crore
The sale of Kerala Government lottery tickets is set to reach Rs 500 crore in the current year, according to the Finance Minister, Dr Thomas ...

COURTS/LEGAL ISSUES: ‘Convene meet on pending land acquisition cases’
Chennai, Dec. 11 Following filing of large number of cases by the Tamil Nadu Housing Board pertaining to land acquisition, and these proceedings were circumscribed by procedural aspects of the Land Acquisition Act, the Madras High Court ...

BIO-TECH & GENETICS: Lifetime award for biotechnologist
Prof. G. Padmanaban, biotechnologist and former director of the Indian Institute of Science, has been named for the 2008 Lifetime Achievement Award as part of the awards given to biotechnology industries and personalities by ...

AUTOMOBILES: Cut in ad valorem cenvat rates welcome relief to auto industry
Input costs too have moderated. A four percentage point reduction in the ad valorem cenvat rates is a welcome relief to the auto industry, which has been reeling under a slowdown since early 2007. The decline in volumes, which first started with ...

EDUCATION: USIEF info centre in Manipal
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EVENTS: Indexpo 2008 at Madurai
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PETROLEUM: MCX posts record volume in crude
Aided by the volatile crude oil prices, MCX posted a record volume of 16.68 million barrels on Thursday. The total turnover was Rs 1,266 crore. The previous record was of 14.78 million barrels registered on December 2, 2008. Average open interest ...