The Hindu Business Line : Friday, January 09, 2009

INDUSTRY & ECONOMY

ECONOMIC OFFENCES: Police, CBI waiting for formal complaint
Chennai, Jan. 8 The Andhra Pradesh Police or the Central Bureau of Investigation are probably waiting for a formal complaint to be lodged with them before they can proceed with the investigation against Mr Ramalinga Raju, who confessed ...

ECONOMIC OFFENCES: Issue of cognisable offence being raised
Mumbai, Jan. 8 Several questions are being raised on whether the Satyam Chairman, who admitted to a Rs. 7,000-crore fraud in his company, is guilty of a cognisable offence or not, and if so why he has not been arrested or at least been ...

COURTS/LEGAL ISSUES: US law firms file ‘class-action’ suits against Satyam
Mumbai/New Delhi, Jan. 8 Two US-based law firms - Izard Nobel LLP and Vianale & Vianale LLP - have filed ‘class action’ lawsuits against scam-hit Satyam Computer Services on behalf of investors who purchased the ...

HUMAN RESOURCES: Oil executives strike starts impacting daily life
New Delhi/Mumbai, Jan. 8 The petroleum traders are dreading Friday, as the impact of indefinite strike called by the public sector oil officers is expected to be much more on the consumers than what it has been on ...

INDUSTRY ASSOCIATIONS: A $50-b industry cannot be clouded by ‘misdeeds’ of a few
Nasscom sees additional overheads, delays for vendors. New Delhi, Jan. 8 The IT industry is still coming to terms with the shocking confession by the Satyam promoter, Mr B. Ramalinga Raju, on falsification of company accounts and its ...

ENTREPRENEURSHIP: Women mean business
Snapshots from a book that celebrates eight successful Indian businesswomen.. They broke away from the conventional path and dared to make their own way in a ...

NRIS: Nod soon for overseas Indian professionals to practise here
PM inaugurates Pravasi Bharatiya Divas. Chennai, Jan.8 India will soon allow overseas Indian professionals to practise in India, announced the Prime Minister, Dr Manmohan ...

INFRASTRUCTURE: 6,000 km of road projects by March, says Montek
Public-private partnership model boosts infrastructure projects. Chennai, Jan. 8 By the end of the financial year, about 6,000 km of road projects, that will be executed under the ‘build, operate, transfer’ model, would be bid out, ...

INFRASTRUCTURE: Infrastructure cos eye education space to tackle manpower crunch
NTPC-BHEL and L&T in the lead to set up institutes. New Delhi, Jan. 8 Infrastructure firms are looking to enter the education sector, prompted by a serious shortage of trained executives to oversee their capacity expansion ...

HEALTH: AP Govt backing for health initiatives tied to Satyam
‘Corporate social responsibility bodies in good health’. The Andhra Pradesh Government has assured full support to the public-private health initiatives – EMRI and HMRI – which have ties with the beleaguered Satyam ...

EXPORTS & IMPORTS: ‘Focus now on micro-management of exporters’ specific issues’
Ministry to look at further steps after studying impact of twin packages. Following two relief packages announced on December 7 last year and January 2 for industry including export segments reeling under slowdown, the Commerce Ministry is now ...

POWER: India to sign global pact on nuclear liabilities soon: Shyam Saran
New Delhi, Jan. 8 India has initiated the process of signing an international convention on nuclear liability issues and the matter would be taken up by the Cabinet for a decision ...

NON-CONVENTIONAL ENERGY: Gujarat invites investment in wind power sector
Ahmedabad, Jan. 8 The Gujarat Government has invited investment in the wind power sector with an aim to increase wind power generation in the ...

HOTELS: Conference organisers pick cheaper venues than India
Forced to cut costs in recession heat. Bangalore, Jan. 8 The ‘conference segment’ of the Indian meeting, incentive, conference and exhibition (MICE) market is facing the heat of the economic recession, with organisers and delegates ...

MANAGEMENT: Rammohan Rao quits as ISB Dean
No prior knowledge of ‘shocking revelations’. Hyderabad, Jan. 8 In what can be seen as the after shocks of the Satyam fraud, Prof M. Rammohan Rao, a former independent director on Satyam’s Board, has stepped down as Dean of ...

NRIS: Meeting health, education needs key to growth: Sam Pitroda
Chennai, Jan. 8 India must address the challenge of illiteracy, access to education and healthcare to truly emerge a global power, according to Mr Sam Pitroda, Chairman, National ...

SSI: Karnataka small units seek relief package
Over six lakh registered and unregistered micro and small industries, who form a key link in the State’s industrial scene, are burdened by low offtake of their output because of the economic ...

COAL: Coal imports growing at 17% annually
New Delhi, Jan. 8 Coal imports have recorded a compounded annual growth rate (CAGR) of 17.1 per cent between 2003 and 2008. Simultaneously, exports of coal have come down during this period with a CAGR of (-) 0.1 per cent, according to a ...

NRIS: Fight corruption, Prahalad tells Indian diaspora
Chennai, Jan 8 Describing corruption as the “biggest challenge that is holding development of India back,” noted management guru, Prof. C.K. Prahalad, exhorted the Indian diaspora to stand up and ...

SOCIAL SECURITY: HC sets guideline for dealing with gratuity cases
Chennai, Jan. 8 Proceedings for payment of gratuity under the Payment of Gratuity Act, 1972, must be taken up under that law and not under any other Act, Madras High Court has ...

REAL ESTATE & CONSTRUCTION: Call to take back land allotted to Satyam for setting up SEZ
The Andhra Pradesh Government should immediately annul the allotment of 50 acres of prime land at Kapulauppada village in the vicinity of the city to Satyam Computer for setting up a special economic zone, in the light of the shocking ...

PETROLEUM: Fuel crisis worsens in Mumbai
Mumbai, Jan 8 The indefinite strike by personnel of public sector oil companies has adversely affected road transport in the ...

SSI: Coimbatore industries urged to capitalise on Railway project
Coimbatore, Jan 8 There will be enormous opportunities for the engineering industries in Coimbatore to become suppliers to the railway coach factory to come up at Kanjikode in Palakkad district since Kerala does not have much ...

NRIS: ‘Sense of urgency should guide in building of knowledge network’
Chennai, Jan. 8 There is a window of ten years to make transformational changes in “how we leverage our human resource advantage, our technical and research advantage. This sense of urgency must guide all our actions as we build ...

HUMAN RESOURCES: Smart cards for migrant Indians to be ready soon, says Vayalar Ravi
Chennai, Jan. 8 The smart card for migrant Indian workers will be operational from June 1 this year, according to Mr Vayalar Ravi, Minister for Overseas Indian Affairs. The smart card was earlier announced by the Prime Minister of India, ...

PETROLEUM: No stock
...

READYMADE GARMENTS: Apparel industry presses for relief
In the face of consistent fall in textile and clothing exports during the first eight months of the current fiscal, the garment industry has pitched for a slew of supportive steps including duty drawback rates at 14.65 per cent from ...

ENGINEERING: ‘Machine tool sector needs stronger R&D support’
Bangalore, Jan. 8 Machine tool industry needs to be put on a stronger platform to take advantage of the vast opportunities in the emerging areas such as nuclear, defence, power, aerospace and healthcare through a comprehensive policy support ...

PETROLEUM: HPCL outlets will continue to meet part of demand
Kolkata. Jan. 8 Normalcy in operations of HPCL and private LPG players may help keep the energy lifeline in the eastern region and other parts of the country alive. The officers of HPCL did not participate in the onging strike by PSU oil ...

EVENTS: NRI remittances must go into productive investments
Chennai, Jan 8 Indians living abroad send home a lot of money—it was $ 27 billion in 2007. But where does most of the money go? This was a concern raised by the Union Minister of State for Industry, Dr Ashwani Kumar, and some ...

EDUCATION: Mr R. Viswananthan, a freelance trainer-cum-consultant and retired deputy MD, SBI; Vivekananda College, Chennai
Chennai, Jan . 8 The recent financial tsunami or sub-prime crisis arose because of the presence of too much money and reckless lending behaviour. For better banking, there was a need to strengthen the basic values of the banks through ...