Accountancy
The accounting standards hurdle in cross-border deals
INDIAN accounting standards differ in as many as 25 areas as compared to that of international accounting standards (IAS), according to a global survey.

Agriculture
Plan to grow herbs in kitchen gardens
THE Foundation for Revitalisation of Local Health Traditions (FRLHT) is preparing an action plan to promote growing of medicinal plants in one to five million kitchen home gardens in Trichy, Namakkal and Salem districts of Tamil Nadu.

Airlines
No decision yet on FDI cap in civil aviation
THE Ministry of Civil Aviation has not taken a final decision on the cap on foreign direct investment (FDI) inflows in the domestic aviation sector.

Banking and Finance
Bank of India board okays sale, hive-off of 3 subsidiaries
BANK of India has decided to either sell or merge with itself three of its subsidiaries, BOI Finance Ltd, BOI Mutual Fund and BOI Asset Management Company.

IDBI shareholders approve bonus issue
THE shareholders of Industrial Development Bank of India (IDBI) on Tuesday approved the issue of bonus shares in the ratio of 3:5 (three shares for every five held).

SBH defers IPO, plans Rs 125-cr bonds issue
DEFERRING its much-awaited initial public offer (IPO) once again, State Bank of Hyderabad (SBH) has now firmed up plans to privately place subordinated debt bonds for an amount of Rs 125 crore, increasing its tier-II capital.

Cartoon
Cartoon
I've tied up with an American dotcom. They liked my expertise in brick and mortar site building and the cheap labour costs.

Cement
Increase in prices of cement `inevitable' -- Formation of cartel in AP denied
THE Vice-Chairman and Managing Director of India Cements Ltd (ICL), Mr N. Srinivasan, said that an increase in the price of cement was inevitable given the escalation in the cost of production over the past few years.

Commodities
$ trading at pepper exchange may be delayed
COMMENCEMENT of dollar-denominated trading at the International Commodity Exchange (ICE) for pepper is likely to be delayed by at least two months since an acceptable solution to certain suggestions made by the prospective members, both domestic and inte rnational might require more deliberations between the parties involved.

Corporate
IDBI raises $100 m in syndicated loan
INDUSTRIAL Development Bank of India (IDBI) has said it has raised $100 million (nearly Rs 470 crore) in the international markets. It said that the deal set a benchmark for international borrowings for future Indian issuers as the issue was priced very competitively.

Bagasse-based power plant in UP -- Avant-Garde to do project study for Balrampur Chini
SUGAR major Balrampur Chini Mills Ltd (BCML) has appointed Chennai-based Avant-Garde Engineering & Consultants to prepare a feasibility report for its proposed 15 MW bagasse-based power plant in Uttar Pradesh. The project is estimated to cost around Rs 6 0 crore.

Iffco's bond issue oversubscribed
NEW DELHI: The Rs 150-crore maiden bond issue of the Indian Farmers' Fertiliser Cooperative Ltd (Iffco) has been over-subscribed almost three times. Iffco's unsecured redeemable promissory note offering has garnered a total subscription of Rs 437 crore.

MICO plans third buyback
MOTOR Industries Co Ltd (MICO), a majority-owned subsidiary of the Bosch Group of Germany, is planning a third open offer for buyback of shares later this year. The company has just completed its second tranche of share buyback.

Beeyu tea factory in Nilgiris
BEEYU Overseas Ltd, which has been in tea export business for the past several years, has set up a modern tea factory attached to its acquired tea estate at Doddabetta in Nilgiris.

Scrap dividend tax: BSE
REDUCTION, if not abolition, of corporate dividend tax, deployment of pension funds in equities, increase in investment ceilings in equities by the State-owned insurance companies and banks and development of retail debt market top the wish-list of the B ombay Stock Exchange (BSE).

Morepen Lab in pact with Swiss company
THE Delhi-based Morepen Laboratories Ltd today announced a technology and marketing joint venture with the Swiss company, DiaMed AG. Morepen will have exclusive marketing rights in India for DiaMed Optimal Rapid malaria test kits and ID Micro Typing Syst ems for blood group serology.

Guj Ambuja raises $100 m through FCCB issue
MUMBAI: Gujarat Ambuja Cements Ltd (GACL) has raised $100 million through an issue of foreign currency convertible bonds (FCCB). The issue has a coupon of one per cent with a maturity period of five years.

Mahindra Intertrade to market branded products
MAHINDRA Intertrade Ltd (MIL), the wholly owned trading subsidiary of Mahindra & Mahindra Ltd (M&M), today announced its entry into the marketing of branded products, taking over of the marketing and distribution of LEGO toys in India.

ICICI appointed OA for Madras Petrochem
ICICI has been appointed as the operating agency by the Board for Industrial and Financial Reconstruction (BIFR) for Madras Petrochem Ltd (MPL).

Essar Steel turns corner -- 4:5 rights issue of Rs 267 crore
MUMBAI: Essar Steel Ltd has registered a net profit of Rs 15.08 crore for the third quarter of 2000-2001 against a net loss of Rs 116.05 crore in the year-ago period.

FIPB sits on Gesco GDR
THE Finance Ministry is of the view that the approval for the proposal to issue GDRs by the Mumbai-based Gesco Corporation Ltd should be subject to the condition that the GDRs cannot be converted into underlying shares.

Wishing 'em well in their chosen jobs
``BE a patch, not a hole; be a bridge, not a hurdle,'' he tells his class of 20-somethings, all of them employees of HDFC Bank who have been listening to him since morning. And, as the turn of phrase gets tossed around in the audience, he prepares to bel t out the next slice of wisdom, distilled as it is from the 1,000-plus training sessions he has had with the cream of corporates.

Sanjay Bhatnagar quits Enron
Mr Sanjay Bhatnagar has quit the multinational Enron Corporation, company officials confirmed here today.

Particle board units want uniform taxes on raw material
THE Particle Board Manufacturers' Association (PBMA) has opposed the new differential and discriminatory tax structure currently being applied to the industry based on the raw material used in the manufacture of various types of particle boards.

ICICI Venture picks up 30 pc in online portal
ICICI Venture, the technology incubator fund of the ICICI, has picked up a 30 per cent equity stake, for an undisclosed amount, in fund4idea.com, an online investment banker for knowledge initiatives.

Dunlop to get extra funds from Chhabria
THE ongoing `holding operation' in Dunlop India Ltd's (DIL) two manufacturing units -- Sahaganj in West Bengal and Ambattur in Tamil Nadu -- is likely to get a boost as Mr M.R. Chhabria is believed to have agreed to inject additional funds to help the ma nagement overcome, to some extent, its working capital problem.

Rs 15-cr NGEF VRS plan okayed
A RS 15-crore voluntary retirement scheme was approved on Tuesday for 1,500 employees of NGEF, the ailing State enterprise.

Courts
SC ruling on unfair labour practice
THE appeal under the Maharashtra Recognition of Trade Unions and Prevention of Unfair Labour Practices Act, 1971 (MRTU & PULP Act) is dismissed on the ground that the complaint was not maintainable.

Economy
India branch of IFA sets up tax academy
THE India branch of the International Fiscal Association (IFA) has set up a tax academy -- `IFA International Tax Academy' -- to undertake research and studies on international tax issues, tax management and tax administration.

`Append commodities codes system with amended CST Act'
THE national-level conference of Commercial Taxes Commissioners from States held here has opined that the proposed amendment of the Central Sales Tax (CST) Act presents an ideal opportunity for the introduction of a Uniform Commodity Nomenclature, Classi fication and Coding (UCNCC) mechanism for inter-State and intra-State taxation in the country.

Foreign investment `depends on Indian industrial policy' -- Mr Yoshihiko Saeki, President of Jetro
For Japanese businessmen, especially those engaged in small and medium-sized enterprises (SMEs), India still remains a country where doing business is difficult. A decade into liberalisation, Japanese investors still fear that far from making profits in Indian operations, they may lose money.

Telang's contemporary relevance
ORIGINAL propositions in economics which defeat the common-sense view are not very common. Ricardo's two propositions, one on the effect of a rise in general wages on prices, and the other on comparative advantage, are deemed as flashes of a genius. Assu ming that aggregate money supply in the macro world is constant, a rise in the wage rate reflected in a rise in the share of wages in national product, according to Ricardo, does not cause a general rise in prices.

It's the same old India for Japan biz
EVEN after a decade of liberalisation and further second generation reforms on the cards, the perception of the Japanese businessmen on doing business in India has not changed. In particular, the Japanese small and medium-sized enterprises (SMEs) still v iew India as a far-flung country where entering into business ventures is risky and difficult. This is owing to the lurking fear that, far from earning profits, there are chances of losing money.

Editorial
When the doctor is sick...
THERE IS SOME irony in that a specialist body set up to decide the fate of sick corporate entities should itself face the prospect of being wound up. That is the predicament confronting the Board for Industrial and Financial Reconstruction (BIFR), the ag ency set up to adjudicate on corporate sickness.

Fast track
FIIs shine on tech scrips
FRONTLINE technology sector stocks have had a good fortnight riding on the highest-ever FII monthly net flows since the latter's advent in 1993. FII inflows have been the highest-ever for any single month, touching nearly $701 million till January 22.

Financial Performance
Ballarpur Ind net, turnover up
NEW DELHI: Ballarpur Industries Ltd (BILT) has reported a turnover of Rs 390 crore during the quarter ended December 31, 2000, representing a growth of more than 27.5 per cent over Rs 305.82 crore achieved in the same period, the previous year.

Deepak Nitrite
PUNE: Net sales of the Pune-based Deepak Nitrite Ltd has increased by 17.36 per cent during the third quarter ended December 31, 2000. Sales for the quarter stood at Rs 50.77 crore against Rs 43.26 crore recorded in the same period, the previous year.

Gujarat Narmada net rises
AHMEDABAD: BHARUCH-BASED Gujarat Narmada Valley Fertilizers Company (GNFC) has returned a net profit of Rs 28.62 crore for the third quarter of the current fiscal, a sharp rise of 47 per cent from Rs 19.34 crore in the previous year.

Havell's India sales, net up
NEW DELHI: Havell's India has announced a total sales of Rs 42.09 crore for the third quarter of the current fiscal, a growth of 53.89 per cent over Rs 27.44 crore in the corresponding period of the previous year.

Kalyani Steels
The Pune-based Kalyani Steels Ltd has recorded net sales of Rs 45.40 crore for the quarter ended December 31, 2000, over Rs 25.91 crore in the previous year period.

LMW net dips 40 pc in Q3
COIMBATORE: Lakshmi Machine Works Ltd's (LMW) net profit slipped by 40 per cent to Rs 3.63 crore during the third quarter of the current fiscal, over the previous year period.

Nicholas Piramal net up 19.5%
MUMBAI: Nicholas Piramal India Ltd has reported a 19.50 per cent increase in net profit at Rs 13.42 crore in the third quarter ended December 31, 2000, as against Rs 11.23 crore in the corresponding period last year.

Hindalco Q3 net rises 11 pc
MUMBAI: Hindalco Industries Ltd has ended the October-December 2000 quarter with a 11-per cent increase in net profit at Rs 170 crore as against Rs 152.7 crore in the year-ago period.

Zicom Electronic's net rises 91 per cent
MUMBAI: Zicom Electronic Security Systems has announced a net profit of Rs 1.31 crore, showing a growth of 91 per cent over the net profit of Rs 0.68 crore in the previous corresponding quarter.

Indal Q3 net rises 119 pc
INDIAN Aluminium Company Ltd (Indal), an Aditya Birla group outfit, has recorded a 119-per cent rise in net profit at Rs 30.7 crore for the third quarter compared to Rs 14 crore recorded during the corresponding period of the previous year. The volume of sales rose by 18 per to about Rs 325.3 crore (Rs 276.8 crore).

ACC builds on cement prices
Associated Cement Companies Ltd (ACC) to notch up a net profit of

Global Tele net up 111 pc
GLOBAL Tele-Systems has reported a net profit of Rs 57 crore during the quarter ended December 31, 2000, registering a 111-per cent growth from Rs 26.9 crore registered in the corresponding quarter in the previous year.

BPL net slips in third quarter
BANGALORE: BPL Ltd's third quarter net profit has slipped to Rs 20.05 crore from Rs 28.01 crore in the same quarter last fiscal. The gross sales slumped to Rs 508.29 crore from Rs 616.49 crore.

Hind Motors Q3 loss higher at Rs 33.48 cr
HINDUSTAN Motors Ltd has recorded a higher net loss of Rs 33.48 crore during the third quarter to December 31, 2000 of the current fiscal. In the corresponding period of 1999, the company had registered a lower net loss of Rs 11.73 crore. The board of di rectors of the company met in New Delhi on Tuesday and took on record the unaudited third quarter financial results.

NIIT net up 61.07 pc
NIIT Ltd has clocked a profit after tax of Rs 29.83 crore in the first quarter ended December 31, 2000, registering a growth of 61.07 per cent over Rs 18.52 crore it earned in the corresponding quarter last year.

TVS-Suzuki Q3 net down at Rs 16.18 cr
TVS-SUZUKI Ltd has reported a lower net profit of Rs 16.18 crore for the quarter ended December 31, 2000, as against Rs 19.61 crore for the corresponding quarter last year.

JK Ind Q3 net down 48 pc
NEW DELHI: JK Industries Ltd (JKI) has reported a 48.08 per cent decline in the net profit for the quarter ended December 31, 2000 to Rs 4.05 crore as against a net profit of Rs 7.80 crore recorded in the same period during the previous year.

Marico Ind net up 30 pc
MUMBAI: Marico Industries Ltd has ended the October-December 2000 quarter with a 30-per cent rise in profit after tax at Rs 10.12 crore as against Rs 7.78 crore in the year-ago period.

Jindal Strips Q3 net up
MUMBAI: Jindal Strips Ltd has ended the third quarter of 2000-2001 with a marginal increase in net profit at Rs 19.56 crore from the year-ago's Rs 19.18 crore.

VisualSoft Q3 net zooms 174% at Rs 20.6 cr
VISUALSOFT Technologies has recorded a total income of Rs 41.65 crore and a net profit of Rs 20.64 crore for the third quarter ended December 31, 2000, as against a total income of Rs 18.69 crore and a net profit of Rs 7.52 crore for the corresponding pe riod last year.

Tata Infomedia Q3 net at Rs 3.22 cr
MUMBAI: Tata Infomedia Ltd has announced a net profit of Rs 3.22 crore for the third quarter ended December 31, 2000, which is marginally higher than the net profit of Rs 3.06 crore for the previous corresponding quarter.

Pentagon Global Q3 net up
CHENNAI: Pentagon Global has reported a net profit of Rs 2.31 crore, on a total income of Rs 8.93 crore for the third quarter ended December 31, 2000, compared to a net profit of Rs 8.70 lakh on a total income of Rs 1.03 crore for the same quarter last y ear. This represents over 2,500 per cent increase in net profit.

Foreign Trade
Karnataka CM to visit UAE next month
A HIGH-power delegation from Karnataka, headed by the Chief Minister, Mr S.M. Krishna, is likely to visit the UAE in February and formalisation of some partnerships, particularly with organisations in Abu Dhabi, is expected during the visit, according to a senior official of the Federation of Karnataka

Impact
Titan Industries: At last real glitter?
INDICATIONS that the jewellery business -- Tanishq -- of Titan Industries may make some profit in the current fiscal may infuse positive sentiment into the stock in the short term.

Gujarat Ambuja: Roping in cash support
THE Gujarat Ambuja Cements' completion of a convertible bond offering in the international markets may be a positive from a long-term perspective.

Aptech: Technology mentor
THE move of Aptech to strengthen its presence in the e-learning business may be viewed favourably by the markets.

Inflation Watch
Inflation Watch
THE annual rate of inflation measured in terms of the wholesale price index (WPI) on a point-to-point basis remained unchanged at 8.16 per cent for the latest recorded week ended January 6, 2001. Thus, the WPI-based inflation rate has ruled above the eig ht per cent mark for the fifth consecutive week.

Information Technology
More IT-oriented jobs on cards, says Naidu
THE Andhra Pradesh Chief Minister, Mr N Chandrababu Naidu, has said he would aim at creating one million jobs, in the public and private sectors, over the next five years by promoting wider application of IT.

Schoolnet site-building contest for students
FOR the first time in the country, an inter-school Web site development contest, Schoolnet Website Contest 2000, is being organised by Schoolnet India across ten cities.

Adobe to invest $50 m in R&D
DESKTOP publishing major, Adobe Systems Inc, will invest up to $50 million in research and development (R&D) activities in India over a period of five years, the President and CEO, Mr Bruce Chizen, has said.

Oasis Infotech, CoD tie up for e-learning
OASIS Infotech Ltd, a Hyderabad-based software technology solutions company engaged in multimedia, e-learning and banking solutions, has announced a strategic alliance with Centre for Organisation Development (CoD) to offer specialised management develop ment programmes to the corporate clients and various other initiatives in the areas of human resource, organisational behavior and organisational development.

Adobe eyes e-governance
ADOBE Systems Inc, the second largest desktop software product maker after Microsoft, has expressed interest to join hands with the Ministry of Information Technology (MIT) in the latter's e-governance initiatives in the country.

Aztec to restructure into 3 business units
AZTEC Software and Technology Services Ltd, the Bangalore-based software solution provider for the Net-centric economy, is restructuring its business into three strategic business units.

Aptech to take majority stake in US firm
APTECH Ltd has announced that it will take 37.5 per cent in a Silicon Valley, e-learning solutions company, which would make it the largest stake-holder in the company.

InterX to go global
BANGALORE : InterX, the UK-based start-up, is planning to leverage its existing tie-up with Genisys Software to market its products worldwide.

Borland changes to Inprise Corp
BANGALORE : Borland Software Corporation has announced that the company has completed its name change from Inprise Corporation, a company release said.

Matrix Info eyes S-E Asian market
KOLKATA: Having bagged the coveted ISO 9001:1994 quality standards certification from Bureau Veritas Quality International, Matrix Infosystems Ltd has identified South-East Asia as a major growth area for its financial services software business.

`Develop low-cost IT tech indigenously'
THE West Bengal Chief Minister, Mr Buddhadeb Bhattacharjee, has stressed upon the imperatives for developing indigenous and low-cost IT technology and applications. Such technology and applications should provide direct benefit to the people at large, he said in an address to the sixth annual exhibition of Computer Association of Eastern India (Compass) here.

Colour lasers from Epson
Epson India Pvt Ltd has launched a new range of colour lasers, Epson AcuLasers, in the Indian market. According to the company, AcuLasers are targeted at small and medium enterprises, large corporate houses and medium business segments.

Siemens launches C35i WAP phone
Siemens has unveiled the C35i the ``only WAP-enabled mobile phone offering the highest value for money in the Indian market.'' It includes entertainment features such as ``picture messaging'' and ``calling faces'' games and a ringtone melody composer.

Future-ready Home PCs from HP
Hewlett Packard India has announced a new range of ``future-ready'' HP Pavilion Home PCs. According to the company, the new range is among the first to offer the latest Universal Serial Bus (USB) technology and is also broadband Internet ready, allowing users to leverage broadband technology -- DSL or cable -- as soon as it is made available in India.

Kodak unveils RFS 3600 film scanner
Kodak Professional has introduced the RFS 3600 film scanner which, the company claims, delivers high-quality scans from both negative and positive 35mm film, including black and white.

Going for gold
Be it youngsters fresh out of college or old-timers in the middle of a career, what everybody's looking for is a good break in software. Should you go for it?

Paying thru your mouse!!
EVER since the convenience of shopping online became the talk of the town, your fingers itched to click your purchases into the shopping cart. But it was all you could do to restrain yourself, as nagging doubts crept in to your thoughts over the security and reliable processing of your credit card information. Then you heard that the payment gateway solution providers were the Messiahs to your worries. But who are they and what do they do?

Chilling a piece of hot news
SUDDENLY, it seems like the world of business, and high-tech in particular, is headed down the tubes. There is a wealth of negative sentiment out there, to such an extent that even real good news is overwhelmed by negative perceptions in the market. The market is ``very turbulent'' these days, says a top enterprise software analyst. ``Most people are doing what you would expect them to do in such an environment: Get out and stay out.''

A lease of life
MENTION the word ``biotechnology'' and the average person gets a little nervous and apprehensive because biotechnology is not an easy industry to define with all its ``hocus pocus'' of scientific jargon. Biotechnology is now beginning to hit its stride t o offer new and exciting therapies that no longer just treat a symptom, but can possibly provide long-term therapeutic benefits and maybe some day a cure for some diseases.

Conveying a belt lesson
ADAM Smith irrevocably revolutionised and changed our approach to work with his principle of division of labour. His classic example of the advantages of specialisation in the making of a pin continues to be quoted even today and the underlying principle is the premise of organisation structures designed on functional lines.

Selling the e-bazaar
The Internet has transformed the way companies go about their business. In 2000, the total value of B2B (business-to-business) e-commerce was estimated at $210 billion, accounting for over 78 per cent of all e-commerce transactions. By 2004, the figure i s projected to increase to $2.2 trillion, accounting for 88 per cent of all e-commerce transactions.

Module melody
IF THE 1960s saw assembly coding, the 1970s and 1980s saw the procedural approach to software development. The 1990s tended towards object-oriented programming and the new millennium is going a step ahead to bring in componentware orientation.

Chanelling change
MUKESH Gupta runs a fairly successful law firm in Mumbai. He employs around 12 people. Around a year ago, he bought PCs for his staff, networked the machines and attempted to quicken the pace of work and increase efficiency. The objectives were largely m et, but not without hassles.

TIP-OFF
If you are the kind that spends enough and more time banging away at the keyboard, you might like to take advantage of some keyboard shortcuts.

Eye 4 I
RinkWorks is an ever-growing collection of features that will keep you in splits for hours. There are several sections devoted to, among others, movies, humour, puzzles and hobbies.

Cyber Quest
1. What did Rod Canion, Bill Murto and Jim Harris found in 1982?

Netting a Catch
Screen capture tools, which create a picture of the desired screen in a particular format, are available dime a dozen on the Internet.

IT in Andhra Pradesh
The Andhra Pradesh Government's initiative in getting Infosys to Hyderabad deserves appreciation. But the Government and its officers have to continue with a similar level of enthusiasm and cooperation until the Infosys Development Centre is established.

Infrastructure
Infrastructure industries clock 7.7 pc growth in April-Dec
THE six infrastructure industries namely electricity, coal, steel, crude petroleum, petroleum refinery products and cement have registered a growth of 7.7 per cent in the first nine months of the current fiscal (April-December 2000).

Miscellaneous
Immigration to OECD countries on the rise
THE Organisation for Economic Cooperation and Development (OECD) has said that immigration flows to advanced countries continue to increase, with Germany and the US remaining the major receiving countries in absolute terms.

NET DISPLAY
A tableau of `Internet cafe' at a Republic Day rehearsal in the Capital on Tuesday.

`Moral' fiat from Wild West Texas
MORALITY is the in-thing now. Bush is in the White House and all is well with the world. No longer will the world be entertained by Monica Lewinskys and the like, for character is one of the overriding principles that the younger Bush is going to stand b y -- at least that is what the world has been told for now.

Pharmaceuticals
Bilcare set to enter US, European markets
WITH an ISO 9002 Certification and the recently acquired DMF (Drug Master File) registered with the USFDA (US Food and Drug Administration) for its flagship division, Bilcare, the Pune-based Bhandari Industries Ltd, medicine packaging suppliers, is all s et to launch its entry into the US and European markets.

Plantations
Tobacco economy needs holistic approach
IT is unfortunate that a section of the tobacco growers in Andhra Pradesh turned violent and stormed the Tobacco Board office in Guntur because they were aggrieved that some growers had violated the court order declaring a crop holiday for tobacco for a year.

Policy
Chinese policy
On January 2, the Chinese President, Mr Jiang Zemin, said the peaceful reunification of Taiwan with the mainland was one of the three tasks of its government in the new millennium.

Politics
Making waves the wrong way
IF YOU can't beat them, join them, seems to be the resolution made by the Congress(I) President, Ms Sonia Gandhi. Hence, perhaps, her visit to the Kumbh Mela for a semi-snan at the sangam of the Ganga, Yamuna and the mythical Saraswati.

Bush takes charge
I AM sure that many who watched the inaugural in Washington on the TV would have been deeply moved by the peaceful, disciplined, civilised and orderly manner in which the entire proceedings for the change of guard at the White House were conducted. There they were -- Mr Bill Clinton and Mr Al Gore, the outgoing President and Vice-President, with their spouses -- smiling and at ease, received cordially by Mr George Bush, without a trace of rancour or bitterness.

Power
Govt to help MSEB pay DPC Nov bill
THE Maharashtra Government will give Rs 90 crore to help the electricity board (MSEB) pay its dues to Dabhol Power Company (DPC), a senior State Government official said today. This is the second time the State Government has been forced to step in to he lp MSEB with payment to Enron.

Shipping
`Continue loan interest subsidy scheme'
THE decision of the Shipping Ministry to discontinue with the loan interest subsidy scheme (LISS) for acquiring inland water barges has generated waves of discontent among a section of the barge operators in Kerala.

To facilitate corporatisation -- Port trusts Act to be amended
THE Union Cabinet is set to take up a proposal to amend the Major Port Trusts Act, 1963, which will grant legal sanction to the Government to corporatise the major ports that are covered under the Act.

Dahej chemical port opening tomorrow
THE country's first liquid chemical port at Dahej in Gujarat will be inaugurated on January 25 by the Union Minister of Shipping, Mr Arun Jaitley.

Gujarat Adani Port sets sights high
GUJARAT Adani Port Ltd (GAPL) at Mundra has set itself the target of 119 million tonnes of cargo handling with a berthing length of 4,000 metres by 2027. GAPL, during the last one year, handled 12 Panamax vessels of 70,000 dwt each with the port handling two Panamax vessels simultaneously for unloading coal.

States
Naidu plea on Godavari projects
HYDERABAD: The Chief Minister, Mr N. Chandrababu Naidu, has requested the Centre to declare Inchampally and Polavaram projects on river Godavari as national projects and take up their implementation under a time-bound programme. The two projects involve technical, environmental and inter-State matters.

Law soon to protect unorganised sector
MANGALORE: THE State Government is considering promulgating a law in the coming budget session of the Assembly ostensibly to `protect the interests' of workers in the unorganised sector, according to the Labour Minister, Mr A.M. Hindasgeri.

NID satellite centre at Kochi
KOCHI: The National Institute of Design, Ahmedabad, will set up a regional satellite centre at Kochi for effective dissemination of design knowledge and to meet the pressing needs of the industry.

Knitwear fair in Tirupur
COIMBATORE: An exclusive fair on key accessories and raw materials required by the knitwear industry is to be held in Tirupur in March.

NGO to oppose leather fair
CHENNAI: The Vellore Citizens Welfare Forum (VCWF), the group which had filed the case in the Supreme Court against tannery pollution in Vellore district, has decided to oppose the India International Leather Fair on account of continued pollution by tan neries.

SBI gesture
CHENNAI: State Bank of India, Chennai Circle, donated a sum of Rs 5.2 lakh to `Krupa--Dayananda B.D. Goenka Seva Trust', for acquiring a van for transportation of sick and mentally retarded students to hospitals for treatment.

IDFC to assist solid waste management projects
THE Infrastructure Development Finance Co Ltd (IDFC) has decided to assist municipal solid waste management projects. It has contributed to both the equity and debt of one such project in Lucknow, and is looking at another project in Maharashtra.

Poompuhar exhibition in Mangalore
IN an attempt to popularise the `traditional' arts and crafts of Tamil Nadu, the Tamil Nadu Handicrafts Development Corporation Ltd - Poompuhar - has organised a week-long exhibition of its ware in Mangalore.

Review Leather Complex plot terms: Tanners
CITY-BASED tanners, who took possession of the plots of land at the Calcutta Leather Complex (CLC) last week, have decided to ask for a review of the terms and conditions of acceptance of the plots, as spelt out to them by the State Commerce and Industri es Department.

ASCI to be consultant to Bengal power regulator
THE West Bengal Electricity Regulatory Commission (WBERC) has appointed the Hyderabad-based Administrative Staff College of India (ASCI) as its consultant.

AP to involve cos in contract farming
IN a strategy paper for integrated development of agriculture and allied departments, the Andhra Pradesh Government has charted out a route map which includes contract farming by roping in corporates by developing fallow and degraded forest lands, post-h arvest management mechanism, consolidation of land holdings, development of cold storage banks and ensure cost-effective production mechanism.

Stocks
One lakh scrips transacted in one deal
CHENNAI: One lakh shares of Balaji Industrial Corporation Ltd were transacted in a single deal at the Madras Stock Exchange on Monday, at Rs 115 per share.

NSE to go slow on index options
THE National Stock Exchange (NSE) has decided to postpone trading in index options till a certain degree of market comfort is achieved, Mr Ravi Narain, Managing Director, NSE, has said.

CSE adopts new tech for trading system
THE Calcutta Stock Exchange (CSE) has put into operation an upgraded hardware and software, at a cost of Rs 8 crore.

Key IT scrips ensnared in web of losses
EQUITIES ended in positive territory for the eighth successive session on Tuesday at the Bombay Stock Exchange (BSE). The Sensitive Index of the BSE ended 0.69 per cent, or 29.58 points higher at 4,296.69 points.

LYONS RANGE
KOLKATA: THOUGH equity prices generally finished on an upward trend at close on the Calcutta Stock Exchange on Tuesday, new economy shares posed a divergent picture.

SEBI tightens norms for brokers' pool accounts
IN a bid to completely phase out the balances in the brokers' pool account, the Securities and Exchange Board of India (SEBI) today announced a three-pronged measure to ensure that settlement is made directly to investors.

Sugar
Pak industry campaigns against Indian sugar
EMBITTERED over rising sugar imports from India, the Pakistan Sugar Mills Association (PSMA) has launched a vigorous campaign against it on health grounds.

Taxation
ICAI moots taxing of all services
THE Institute of Chartered Accountants of India (ICAI) has recommended that all services barring the health services provided by government-aided hospitals and educational services provided by government-aided schools be brought under the service tax net .

Soft drink makers want spl excise duty withdrawn
FACED with sales growth stagnating at six per cent in the last two years and a cumulative loss of Rs 800 crore up to December 2000, the soft drinks industry has sought ``equitable removal'' of the special excise duty (SED).

`Exempt fully raw material in VAT regime'
THE New Delhi-based Manufacturers, Packers and Traders Association has suggested that raw material used in manufacturing should be completely exempted in a prospective value-added tax (VAT) regime.

Tax management
This refers to the article `Tax deferment option for employees under study', Business Line, January 11).

Technical Analysis
Restricted movement
THE bulls dominated Tuesday's proceedings initially. Towards the end, the index closed a few points below the high with a marginal gain. The bullish sentiment prevailing in the market continued on Tuesday also.

Technology
ISRO ties up with Karnataka -- GIS-based models for development, e-governance
THE Indian Space Research Organisation (ISRO) and the Karnataka Government have come together to work out GIS-based urban and rural models for development and e-governance.

Low cost oil-extraction gadgets
FOR the country's growing agro-based industry, two main requisites are a good storage and preservation infrastructure and low-cost gadgets that will ensure that the desired products are cost-effective and competitive in the marketplace.

HAL developing indigenous cyro engine for GSLV
HINDUSTAN Aeronautics Ltd is developing an indigenous cryo engine for ISRO's GSLV project. The engine likely to be tested by the end of this year.

Telecommunications
Tax breaks proposed for long-distance telephony
THE Finance Ministry is considering a proposal to extend tax breaks to national long distance operators (NLDO) following a recommendation made by the Department of Telecommunications (DoT).

MTNL to look beyond Delhi, Mumbai circles
MAHANAGAR Telephone Nigam Ltd (MTNL) plans to extend its presence to other cellular circles apart from Delhi and Mumbai where its services will be launched shortly.

Transport
CIWTC staff await revival package
NEARLY 2,400 employees and officers of the Central Inland Water Transport Corporation (CIWTC) await an early Cabinet approval of the rehabilitation package already cleared by the Shipping Ministry.

Tyres
Truck, bus tyre output recover
TRUCK and bus tyre production in the country staged a smart recovery in November 2000 to touch 7.62 lakh tyres after having registered a production level of 6.57 lakh tyres in the previous month. Production level in this category stood at 7.33 lakh tyres in November 1999.

Source:Business Line