The Hindu Business Line : Saturday, December 13, 2008

INDUSTRY & ECONOMY

ECONOMY: Negative show: Industrial output contracts in October
Industry asks for second stimulus package. New Delhi, Dec. 12 The Index for Industrial Production (IIP) has posted a negative growth of (-)0.4 per cent in October as against a robust 12.2 per cent in the same month last year. However, between ...

ECONOMY: Markets ignore weak IIP data, recover on short covering
Mumbai, Dec. 12 Indian equities tanked on Friday on news of the collapse of the US auto bail-out package, but bounced back to close on a flat note as traders covered their short ...

EXPORTS & IMPORTS: US auto bankruptcy may hurt India’s component exports
New Delhi, Dec. 12 Despite domestic component suppliers to General Motors, Ford and Chrysler ruling out a drastic impact of the rejection of the US auto bail out package, Automotive Component Manufacturers Association (ACMA) estimates that ...

GENDER: ‘AP women SHGs a role model for other States’
CM says pension plan coming from January 15. Visakhapatnam, Dec. 12 The self-help groups of women in Andhra Pradesh have become role models for others to emulate and other States are seeking to replicate it, according to the Chief Minister, Dr ...

ECONOMY: ‘Increased fiscal deficit not a cause for concern’
Stimulating economy should be the priority, says Chidambaram. New Delhi, Dec. 12 Citing Nobel laureate Paul Krugman, the Union Home Minister, Mr P. Chidambaram, said on Friday in the Lok Sabha that India should not worry too much about its ...

PERSONAL PRODUCTS: Durables industry disagrees with IIP figures showing a fall
Says growth so far has been in double digits. New Delhi, Dec. 12 The Index of Industrial Production figure indicating a decline in output of three per cent in the consumer durables sector has taken some companies by surprise. Manufacturers are ...

MINERALS: Kolkata port plea to scrap rly freight discount on iron ore exports
‘Present scheme puts Haldia dock at a disadvantage’. The Kolkata Port Trust is to soon draw attention of the Railway Board, the Ministry of Shipping and the West Bengal Government to the inconvenience caused to the Haldia dock by the ...

ECONOMY: Kerala wants to convert crisis to opportunity, says Minister
State awaits CDS report for rolling out revival package. Kochi, Dec. 12 The State Government is awaiting the report of the Centre for Development Studies for giving a package for industries ailing on account of the economic slowdown, Mr Elamaram ...

CHEMICALS: Chemical industries hard-pressed; ‘edged out of molasses market’
Chennai, Dec. 12 The chemical industries dependent on molasses as a raw material are finding themselves edged out of the market as liquor manufacturers and other high value product producers such as pharmaceutical companies dictate the price ...

PHARMACEUTICALS: NPPA orders 3% cut in drug prices
New Delhi, Dec. 12 The National Pharmaceutical Pricing Authority (NPPA) has ordered a 2.84 per cent reduction in prices of formulation drugs under Government ...

ANTI-DUMPING: Dumping probe into heavy, medium vehicles’ imported parts
Front axle beam and steering knuckle from China. New Delhi, Dec. 12 Continuing its trade defence measure through the armoury of anti-dumping duty, the Commerce Ministry has set off dumping probe into imported front axle beam (FAB) and steering ...

CARS: ‘Ford, GM plants here won’t be hit’
Chennai, Dec. 12 Of the Big Three US automakers, Ford and General Motors have manufacturing plants in India. Both companies have maintained that their Indian operations will not be affected because of the parent ...

INDUSTRY ASSOCIATIONS: IIP figures worry CII; Govt, RBI urged to do more
New Delhi, Dec. 12 The CII has expressed serious concern over the industrial slowdown reflected in the October IIP ...

COAL: Govt may cancel coal block allotments to private sector
New Delhi, Dec. 12 The Centre may cancel the allotments of coal blocks made to private sector companies for captive mines if they are not developed within in a specific time frame, the Minister of State for Coal, Mr Santosh Bagrodia, said ...

AUTOMOBILES: Fall in transport sector output due to demand dip, tight finance
New Delhi, Dec. 12 A slowdown in the demand of vehicles and tight availability of finance are the primary reasons in the production of transport sector declining 6.1 per cent in October from a growth of 9.2 per cent in the same period ...

TOURISM: Exhilarating falls
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ECONOMY: Industrial decline may be steeper, says CMIE
New Delhi, Dec. 12 The Centre for Monitoring Indian Economy (CMIE) is ‘sceptical’ about the latest Index of Industrial Production (IIP) data for October, showing an overall decline of 0.4 per cent year-on-year and 1.2 per cent in ...

REAL ESTATE & CONSTRUCTION: Janapriya, Sun-Apollo form SPV for affordable homes
Hyderabad, Dec. 12 Janapriya Engineers Syndicate and Sun-Apollo, a private equity firm, have formed a special purpose vehicle to develop a satellite township with a focus on ...

PETROLEUM: RPL’s plea for exporting LPG turned down
The Government has turned down Reliance Petroleum Ltd’s (RPL) request for exporting liquefied petroleum gas (LPG) from its soon to be commissioned refinery at Jamnagar. Official sources said the permission was denied as the product ...

POWER: Joint venture for power exchange incorporated
New Delhi, Dec. 12 NTPC Ltd, NHPC Ltd, Power Finance Corporation and Tata Consultancy Services have incorporated their joint venture company to operate a nationwide power ...

ECONOMY: World Bank clears $14-b lending to India for 2009-12
New Delhi, Dec. 12 The World Bank Group has cleared India Country Strategy 2009-12 that envisages lending program of $14 billion for the next three years. The institution’s board discussed the Country Strategy at its meeting in ...

PETROLEUM: ONGC, IOC join hands for exploration, marketing
New Delhi, Dec. 12 ONGC and Indian Oil Corporation Ltd (IOC) have joined hands for mutual co-operation in the fields of oil and gas exploration, production, and ...

CONSULTING: IIM-K seminar on consulting
Kochi, Dec. 12 The Indian Institute of Management, Kozhikode, (IIMK) will be organising its annual seminar on consulting, Crucible, on ...

EXPORTS & IMPORTS: Jute body wants export market aid reintroduced
The Indian Jute Mills Association (IJMA) has urged that the export market assistance be reintroduced to boost the export of jute goods. The scheme was terminated by the Union Ministry of Textiles from April ...

TRAVEL & PLACES: Switzerland joins Schengen area
Switzerland is entering the Schengen area. The Swiss-Schengen visa will be valid to enter the territory of all 25 Schengen member states. The Schengen visa will be as per December 12, 2008 valid for the following 25 countries: Austria, ...

EVENTS: Seminar on global crisis
Cygmax Institute of Management Studies is organising a day long seminar on ‘Global Financial Crisis and its impact of India’ on Saturday. In a press release, Prof O.R.S. Rao, Director of Cygmax Institute, said faculty from ...