Banking and Finance
RBI loan to Centre up by Rs 5,369 cr
LOANS and advances provided by the Reserve Bank of India (RBI) to the Central Government has increased by Rs 5,369 crore to touch Rs 12,430 crore for the week ended November 16, compared to Rs 7,061 crore in the previous week, as per the weekly data prov ided by the RBI.

Cement
Shiva Cement capacity hike awaits banks, FIs nod
THE Rourkela-based Shiva Cement Ltd is waiting for the final nod from a consortium of banks and financial institutions to go ahead with its capacity expansion programme.

Commodities
Resurgence likely in gold investment
IN a ground-breaking study of private investment in gold, Gold Fields Mineral Services (GFMS) has pointed out that ground has now been set for a potential resurgence in gold investment as factors that undermined investment in the last few years have larg ely waned.

Platinum group metals under pressure
INDUSTRIAL demand contraction has hit the platinum group metals (PGM). The platinum market is forecast to be in deficit with demand rising 4.9 per cent this year, nearly matching an increase of 5.5 per cent in supply, according to an interim review of th e PGM markets released by refiner Johnson Matthey recently.

Corporate
Finolex to expand capacity at its Ratnagiri plant
FINOLEX Industries has initiated a Rs 10-crore expansion plan to increase manufacturing capacity of PVC pipes at its Ratnagiri plant. The expansion programme, to completed within nine months, would increase the capacity by 16,000 tonnes, according to Mr P.P. Chhabria, Chairman, Finolex group.

PepsiCo gets new corporate logo
THE corporate logo of PepsiCo Inc has undergone a change and the new logo reflects the recent merger of the three different businesses - Gatorade, Pepsi Cola International and Tropicana International - to form PepsiCo Beverages International (PBI).

Murugappa group to focus on insurance, IT
THE Rs 3,900-crore Murugappa group, which is in the process of restructuring, will focus on information technology, financial services business and insurance, apart from agri-business, Mr M.A. Alagappan, the group's Vice-Chairman and Director - Strategy, said here today.

M&M, NIIT out; Hero Honda, HCL in
MUMBAI: The Bombay Stock Exchange has changed two scrips in its sensitive index (BSE-Sensex).

Indian experience whets apetite for Thomas Cook
UNLIKE many other MNCs, for Thomas Cook, the world's third largest travel group, focus on bottomline and not enhancement of equity stake, is the route to business growth in India, Mr Stefan Pichler, Chairman & CEO, Thomas Cook AG, has said.

Non-core is Haden core
WHAT do auto major Ford India Ltd, the prestigious Indian School of Business (ISB) in Hyderabad, multinational Saint Gobain Glass India Ltd and home-grown pharma biggie Dr Reddy's Laboratories have in common? For one, all are located on sprawling facilit ies with a built up area running into several lakh square feet. This apart, the other link that connects these institutions is Haden, the integrated facilities management company that manages most of the non-core operational areas of these organisations.

Dominos to hike foreign holding
INTERNATIONAL fast food chain Dominos Pizza India Ltd has received Government approval for expanding its capital base and to increase the foreign equity holding from 25.1 per cent to 27.74 per cent through preferential allotment.

`No need for law on corporate governance'
THE management's actions should be accountable and above board to provide good corporate governance. It is not necessary to have a legislation in this regard, according to Mr S. B. Mukherjee, Union Minister of State for Chemicals & Fertilisers.

Economy
`Lucid legal system key to attract more FDIs'
SPEAKERS at the international conference on "Law & economic change: ushering in an era of liberalisation'' have unanimously stressed on the need to rationalise various laws and make them effective and efficient.

Environment
Soil test report rings warning bells at CLC
A SOIL test report at one of the plots at the Calcutta Leather Complex (CLC) has thrown up a few disturbing findings, sending warning bells among tanners who are required to relocate to this complex as per the order of the apex court.

Foreign Trade
South Africa seeks mineral partners
THE South African Government is keen on partnering with Indian entrepreneurs in the country's minerals business, specifically with the purpose of boosting the growth of its "black economic empowerment''(BEE) companies.

Slowdown must be tackled jointly: Lamy
AN economy as resilient as India's calls for sustained efforts to integrate it to global trends, reduce costs and become globally competitive, Mr Pascal Lamy, Trade Commissioner of the European Union, said here on Saturday.

Forex
Limit on Re, foreign currency swap raised
IN another move, perceived by financial markets as inching towards full float of the rupee, the Reserve Bank of India today raised the limit on foreign currency rupee swap operations that banks can undertake on an unmatched basis to $25 million.

Forex reserves up $211m
FOREX reserves have risen by $ 211 million to touch $ 46.469 billion for the week ended November 16, 2001, as compared to $ 46.258 billion in the previous week, as per the weekly data released by the RBI.

Travellers' forex procedure eased
PERSONS going abroad on private travel or tours need not get the endorsement of foreign exchange dealers on their passport for the exchange released, according a press release from the Reserve Bank of India.

Health
WHO initiates tobacco-free sports' campaign
THE United Nations World Health Organisation (WHO) has teamed with many of the world's sports governing bodies to launch a campaign to free sports from all forms tobacco - from consumption and exposure to second-hand smoke to tobacco advertising, promot ion and marketing.

Peerless Hospital gets ISO 9002
KOLKATA: Peerless Hospital and B K Roy Research Centre here have received ISO 9002 certification, according to a press release. The 300-bed hospital, founded in 1994, has specialised facilities such as knee-joint replacement, nucleaus cochlea implant and continuing ambulatory peritoneal dialysis. -- Our Bureau

Information Technology
Cellnext deploys platform for Aircel
NEW DELHI: Cellnext Solutions Ltd, the Escorts group wireless IT company, has partnered with Aircel Ltd to deploy mobile lifestyle servcies in Tamil Nadu. These services have been tailor-made to suit the preferences of south Indian consumers.

`Focus on IT hardware'
INDIA would lose its pre-eminent position in IT software if the hardware industry is not given enough attention, the Karnataka Minister for Information Technology, Prof B.K. Chandrashekhar, has said.

`Turn slowdown into opportunity'
THE downturn in information technology should not cause any serious despair instead it should be used to make an introspection for re-positioning the industry with clear marketing strategies to project its potential for outsourcing for the international market. Coupled with this, the IT industry should set clear roadmap for meaningful diversification into product base with new applications.

Miscellaneous
Ruled by heart, a head for style
ANAND Jon has this very simple rule take advantage of the now; live, dont just exist. Thats the man, the designer. But ask him what Anand Jon the brand stands for and he smiles before declaring functional luxury. Listen to the audience and then blow the m away with what you have, he says.

Policy
Panel finalised for investor fund
THE Government has finalised the setting up of a 15-member committee to administer the Investor Education and Protection Fund (IE&PF).

Power
New NTC Director (Finance)
COIMBATORE: Mr P.P. Natarajan has taken over as Director (Finance) of National Textile Corporation (Tamil Nadu and Pondicherry) subsidiary.

Shipping
Privatisation of ailing shipyards urged
THE Expenditure Reforms Commission set up by the Government has recommended the privatisation of the country's ailing shipyards, Dredging Corporation of India, closure of CIWTC's shipbuilding and repair activity.

States
Neeru-Meeru project evaluation completed
HYDERABAD: The Engineering Staff College of India (ESCI) has completed a consultancy project on evaluation of quality and quantity of work undertaken under the ambitious Neeru-Meeru phase-II of the Andhra Pradesh Government.

'Rise in CPI would hit industries in Kolkata'
THE Indian Chamber of Commerce (ICC) has, in a recent representation to the Union Labour Minister, Mr Sharad Yadav, expressed concern over the ''unprecedented and extremely abnormal'' rise in the Consumer Price Index (CPI) numbers for industrial workers of the Calcutta centre for July and August 2001.

DVB takes distribution path in reform road-map
THE Delhi Government on Friday issued the terms of privatisation of power distribution in the Capital, which has attempted to avert the mistakes committed in the privatisation experience in Orissa.

AP Govt mulls tariff cut for HT users
The Andhra Pradesh Major Industries Minister, Mr K. Vidhyadher Rao, has hinted at the possibility of reworking the power tariff for the high tension (HT) industrial segment, particularly keeping in view the recessionary trend in the industry.

Jharkhand calls for more private invts
THE newly created State of Jharkhand, which is a year old, has received projects proposals worth Rs 600 crore in the recent months, the state Chief Minister, Mr Babulal Marandi, has said.

Steel
Tata Steel SA project `in 30 months'
TATA Iron and Steel Company has finalised the location for its 120,000 tonnes per annum ferro chrome project in South Africa, Mr B. Muthuraman, Managing Director, has said here.

Stocks
Mehta fears erosion of SEBI reputation
THE Securities and Exchange Board of India (SEBI) is worried with the Securities Appellate Tribunal questioning its powers under Section 11b of the SEBI Act.

Source:Business Line