ECONOMY
Consensus on CMP reached — Left against hire and fire, seeks to widen negative list on privatisation
Left parties had also expressed their opposition to the use of the word "flexibility" for managements in labour policies. More

ADB team in Kerala to review MGP progress
A TWO-MEMBER team of the Asian Development Bank (ADB) arrived here for a mid-term appraisal of the Modernising Government Programme and fiscal reforms, which the multilateral lender is sponsoring in the State. The appraisal is significant, ... More

Maharashtra pinning hopes on doles from Centre
If only the State had time for some consultations, the Centre's mind would have been known. Now, the budget "has to be done in anticipation" and the NCP-Congress being in the Government at the Centre and the State "may make a difference." More

FOREIGN TRADE
Bengal exploring scope for more trade via Nathula, Fulbari
The Siliguri-Jalpaiguri Development Authority has taken up a number of projects such as the third bridge over Mahananda river and a truck terminal at Fulbari and Matigara. More

HEALTH
Delays hit clinical trials of India-specific AIDS vaccine
ANOTHER cycle of delays has pushed clinical trials on the India-specific AIDS vaccine being developed by the International Aids Vaccine Initiative (IAVI) to the end of 2004 or early-2005. Even though the project has identified three vaccine ... More

PETROLEUM
Rising prices in global markets — Oil companies' loss put at Rs 3,000-cr in two months
PSU oil marketing companies claim to have lost close to Rs 3,000 crore on petrol and diesel sales and LPG under-recoveries in April and May, thanks to spiralling international crude oil prices but static domestic retail rates. Indian Oil ... More

POWER
Even as Reliance wins supply contract — GAIL offers to transport gas to NTPC plants
GAIL's offer comes at a time when there is regulatory uncertainty in the gas business. More

Mangalore power project — Nagarjuna brings down tariff to Rs 2
THE Nagarjuna group has brought down the levellised tariffs for power to be generated from its proposed 1015-MW project near Mangalore. Sources said here that the tariffs would be among the lowest for any green field thermal project in the ... More

Power sector stocks cheer up
THE stock market is trying to revalue power sector stocks in the changed political scenario. The valuations last week took a knock over apprehensions that power sector reforms may slow down. The new Union Power Minister's initial assurance, ... More

Rains inflate KSEB kitty
THE Kerala State Electricity Board is to make a saving of an estimated Rs 40-45 crore a month during May, June and July following stoppage of drawing high-cost power from the thermal plants in view of the good rains in catchment areas, senior ... More

TAXATION
`Pending tax cases will be speeded up'
A DAY after the portfolio allocation stand-off in the United Progressive Alliance (UPA) Government got resolved, Dravida Munnetra Kazhagam (DMK) nominee Mr S.S. Palanimanickam took charge as the Minister of State for Finance. Mr Palanimanickam ... More

Assocham moots Service Tax Act
THE Associated Chambers of Commerce and Industry (Assocham) has suggested a separate self-contained Service Tax Act in the forthcoming Budget, after incorporating the present governing provisions and with additions in missing areas as to make it ... More

WATER
Minister explains move for Vizag water project review
THE Congress Government will review the Visakhapatnam Industrial Water Supply Scheme, meant to divert 5 tmc ft of the Godavari water to meet the needs of local industries and people, ``with the objective of providing drinking water to people at ... More

EXIM POLICY
Kamal Nath to hold talks with exporters on Exim policy
THE Commerce and Industry Minister, Mr Kamal Nath, would interact with the exporting community here on Thursday as part of his Ministry's efforts towards formulating an Export-Import policy for 2004-05. After taking charge as Commerce ... More

BREWERIES
Lack of freezers puts TN beer industry growth in the cold
THE absence of freezers across many State-run retail shops in Tamil Nadu could spoil the beer industry's froth this summer. Brewers are bracing for a nearly 40 per cent sales drop in the month of May in the State, the country's third largest ... More

RADIO/TV
Balaji Tele to boost regional sponsored programmes
The television software company plans to expand its basket of sponsored programmes on regional channels and gradually derisk the business. During the current quarter, the company launched one show each on Gemini TV (Telugu) and Surya TV ... More

EDUCATION
Jamshedpur XLRI alumni meet on Saturday
MAINTAINING a tradition that goes back several years, the Jamshedpur-based XLRI will hold one of its alumni meets here on May 29. The gathering will be part of a series planned across the country and abroad in Bangalore, Chennai, Delhi, ... More

MEDICAL & SURGICAL EQUIPMENTS
Taiwan woos medical equipment cos
Speaking at the Confederation of Indian Industry, Mr Thomas Chang, Director, Taipei World Trade Centre, who is leading a 7-member delegation from Taiwan Medical Equipment industry, said that as the island's population has more money to spend on ... More

REAL ESTATE & CONSTRUCTION

PAPER, BOARD & NEWSPRINT
Madras paper merchants seek concessions
THE Madras Paper Merchants' Association has urged the Tamil Nadu Government to reduce sales tax on paper and boards, and do away with the resale tax and entry tax. Through a press statement, the association has asked that the sales tax on paper ... More

INDUSTRY ASSOCIATIONS
Simplified exit route vital for cos opting to delist: FICCI
PERTURBED by the current delisting procedures, corporate sector has pitched for a simplified norm for listed companies to exit from a stock exchange. The Capital Market Committee of Federation of Indian Chambers of Commerce and Industry, headed ... More

PHDCCI for scrapping of controls on movement of agricultural goods
THE PHDCCI on Wednesday called for the need to do away with the controls on movement of agricultural commodities across States as a step towards creating a free market. The Chamber, in a release today, said the agricultural sector was ... More

BIO-TECH & GENETICS
TCS consortium working on bio-suite
THE bioinformatics division of the Tata Consultancy Services, part of a consortium, is working on a `bio-suite' software that supports cluster computing required for high-end processing work in the areas of life sciences research, drug discovery ... More

DISINVESTMENT
No need for SCI privatisation: Baalu
THE Minister for Surface Transport, Mr T.R. Baalu, has stated that he was not in favour of privatising Shipping Corporation of India (SCI), but supported the proposal for introduction of tonnage tax for the shipping industry. Mr Baalu also ... More

FOREIGN DIRECT INVESTMENT
Maran promises relook on FDI in telecom — Rules out privatisation of BSNL, MTNL
PROMISING a relook on the issue of increasing foreign direct investment (FDI) in telecom, the Minister of Communications and IT, Mr Dayanidhi Maran, on Wednesday ruled out privatisation of public sector telecom units BSNL, MTNL and the ... More

RURAL DEVELOPMENT
Study planned to formulate model for rural self-employment projects in Karnataka
THE Justice K.S. Hegde Institute of Management (JKSHIM) at Nitte in Udupi district is planning to formulate a model for self-employment programmes in rural areas. In this regard, the Indian Council for Social Science Research (ICSSR), New ... More

`Priority for jobs to rural youth to prevent migration'
THE newly appointed Minister for Small-Scale, Agro and Rural Industries, Mr Mahavir Prasad, has said that he would endeavour to put an end to migration of people from rural to urban areas, provide jobs to youth in villages, including those in ... More

TRADE & LABOUR UNIONS
Trade unions draw up charter of demands
SENSING that their voice could now influence policy making at the Centre under the new political formation, leading trade unions today drew up a charter of demands for inclusion in the United Progressive Alliance's (UPA) Common Minimum Programme ... More

CII calls for meeting to resolve Chennai terminal strike
THE Confederation of Indian Industry (CII) has called for a quick settlement to the strike at the Chennai Container Terminal (CCTL). According to a press a release, the CII (Southern Region), said the deadlock between the workers and the ... More

Trade hit by Chennai terminal strike
The port trust should initiate regular interactive meetings between CCTL, chambers and user associations. More

EVENTS

EXPORTS & IMPORTS
UPASI to revive plea for curbs on duty-free pepper import
THE United Planters' Association of Southern India (UPASI) will urge the Union Commerce Ministry to remove the anomalies in the existing Exim Policy, which allows duty-free import of pepper from Sri Lanka and also imports from other origins for ... More

ECONOMIC OFFENCES
CoD team in Mangalore to probe `rice scam'
A TEAM of Corps of Detectives (CoD), headed by Dr P. Ravindranath, DIG, Economic Offences, has reached Mangalore to probe the "rice scam". The team is being briefed by the local police officials about the raids conducted on several godowns in ... More

PEOPLE
Plan panel member resigns
THE Planning Commission Member, Dr K. Venkatasubramanian, resigned from his office after completing four years of service. As per the convention, he tendered his resignation to the Prime Minister, Dr Manmohan Singh, on Monday. When contacted, ... More