The Hindu Business Line : Tuesday, July 14, 2009

INDUSTRY & ECONOMY

EXPORTS & IMPORTS: Passenger vehicles defy export slowdown
BL Research Bureau The automobile sector appears to be defying the trend of shrinking merchandise exports from India in ...

TAXATION: Insurers get tax notice for overseas reinsurance
I-T Dept says premium taxable as Indian cos are acting as agents. Mumbai, July 13 The Income-Tax Department has slapped notices on general insurance companies asking them to pay tax on premiums paid to ...

INFRASTRUCTURE: TN Govt to invest more in infrastructure
Plans to set up a ‘financial city’ near Chennai. Chennai, July 13 The Tamil Nadu Government plans to invest more in infrastructure development to be ready to exploit industrial investment growth when the economic ...

POWER: PowerGrid may go slow on evacuation line work in AP
Meant for Krishnapatnam ultra mega power project. Hyderabad, July 13 Power Grid Corporation of India Ltd (PGCIL) is likely to go slow on developing the Rs 5,000-crore evacuation line from the 4,000 MW Krishnapatnam ultra mega power project, ...

FOREIGN TRADE: New govts must use trade to resolve India-Pakistan problems
Official annual trade between the two countries is about $2 billion. With new governments in both India and Pakistan, there is a ‘window of opportunity’ once again to improve economic ties and the increased bilateral trade might well ...

TOURISM: Netting the tourists
...

PHARMACEUTICALS: Merck to revise labelling on cervical cancer vaccine
Information on adverse effects to doctors and patients. Mumbai, July 13 Multinational drug-major Merck Sharp & Dohme will revise the labelling on its cervical cancer vaccine Gardasil, after it informs the Indian drug regulatory authority ...

INDUSTRY ASSOCIATIONS: AP industry body takes up cluster development projects
To facilitate funding for target industries. Coimbatore, July 13 Hyderabad-based APITCO Ltd, promoted by a cluster of banks and financial institutions, has taken up seven industrial clusters for development as part of its Business Development ...

HOTELS: Bangalore five-star hotels drop prices
Bangalore, July 13 Corporates which cut down on travel expenses could now take a re-look at hotel stays in the IT capital with tariffs in five-star hotels in Bangalore ...

OVERSEAS INVESTMENTS: All quiet on the Western front: US investors channel less to India
Chennai, July 13 According to data released by the US Bureau of Economic Analysis (BEA), outstanding secondary market investment by American investors in the rest of the world declined from $5.2 trillion to $2.8 trillion over calendar ...

SSI: SIDBI plans to extend re-finance to banks, SFCs
Mumbai, July 13 The Small Industries Development Bank of India (SIDBI) is considering the possibility of extending re-finance to banks and State Finance Corporations (SFCs) at reasonable interest rates for a longer period – three to ...

MINING & QUARRYING: Draft granite policy aims at transparency
Chennai, July 13 The State Government has come out with a draft policy for granite mining aimed at simplifying paper work, preventing legal complications, and enabling efficient exploitation of granite reserves in Tamil Nadu in a ...

PETROLEUM: ONGC to invest $729.43 m in Rajasthan fields
ONGC will invest about $729.43 million in Cairn India operated Rajasthan oilfields, the Petroleum Minister, Mr Murli Deora, informed the Rajya Sabha, ...

INFRASTRUCTURE: Maytas Infra steps up debt recovery efforts
Hyderabad, July 13 With lenders recently approving the corporate debt restructure package, Maytas Infra has stepped up efforts to recover its dues amounting to Rs 450 ...

HUMAN RESOURCES: Unemployment still a problem for US
The US economy is believed to have hit the bottom of the slowdown, according to most economists, said Ms Diane G. Farrell, Member, Board of Directors, Export-Import Bank of the US (US Ex-Im Bank). However, the unemployment problem remains ...

PETROLEUM: Domestic fuel consumption to grow at its slowest
New Delhi, July 13 The domestic fuel consumption is projected to grow by 2.4 per cent to 136.61 million tonnes (mt) in 2009-10 against 133.4 mt in the previous fiscal, said the Petroleum and Natural Gas Minister, Mr Murli Deora, in the ...

PETROLEUM: Reliance Ind producing 31 mscmd from D6 block
New Delhi, July 13 Reliance Industries Ltd (RIL) is currently producing 31 million standard cubic metres a day (mscmd) of gas from its D6 block in Krishna Godavari basin. This information was given by the Minister of State for Petroleum ...

ECONOMY: AP Credit Plan outlay at Rs 55,000 cr
The State-Level Bankers’ Committee (SLBC) has set a credit target of Rs 55,000 crore for 2009-10. This is 18 per cent or Rs 8,000 crore more than last year’s target of Rs 47,000 crore. This includes Rs 32,500 crore for agriculture ...