The Hindu Business Line : Tuesday, December 28, 2004

CEMENT
Cement stocks betting on pricing power
WITH high volume growth leading to a decline in inventory, the fortunes of the cement sector may well see an upswing in the new year. Even as numbers for the December quarter are expected to be below expectations, there is a perception that ... More

ECONOMY
Plan panel pitches for higher gross budgetary support
EVEN as the Union Finance Minister, Mr P. Chidambaram, has to do a dexterous balancing act as he is set to present the Government's book-keeping exercise in exactly a couple of months from now, demand for additional resources through budget for ... More

FOREIGN TRADE
Dollar slide and mounting US trade deficit
The decline in the dollar has been taking place despite the administration's definite preference for a strong dollar. More

PETROLEUM
GAIL to get 29% stake in Tripura National Gas
GAIL India Ltd said on Monday that it will get a stake of 29 per cent in Tripura National Gas Company Ltd (TNGCL), which will undertake retail gas distribution in Tripura. Tripura Industrial Development Corp (TIDC) and Assam Gas Co Ltd (AGCL) ... More

UK interested in joint ventures for methane exploration
REPRESENTATIVES of four UK companies specialising in coal bed methane (CBM) have evinced keen interest in participating in joint ventures for exploration and commercial exploitation of methane gas available in abandoned as well as active ... More

ONGC faces setback in CBM exploration as tech cos back out
ONGC's bid to offer turnkey contracts for exploration, development and commercial production of coal-bed methane (CBM) has suffered a setback. Despite showing an interest during the pre-bid exercise, the technology companies concerned have ... More

PHARMACEUTICALS
COUNTDOWN TO PATENTS REGIME - 2005
Date kept, now for the devil in the detail
INDIA seems to have kept its date with the World Trade Organisation, thanks to Sunday's executive order that lays the road for the product patent regime in the country from January. And while the Government has walked the tightrope of ... More

POWER
Dalmia Cements to consider leasing out thermal power plant
DALMIA Cements Bharat Ltd plans to lease out a 29 MW thermal power plant that it is setting up at Dalmiapuram in Tamil Nadu. It has informed the BSE today that its board of directors will meet on December 28 to consider the proposal to lease out ... More

TAXATION
`Tax structure will be industry-friendly'
THE Union Budget for 2005-06 will usher in an industry and investor-friendly tax structure for the sugar, textile, petroleum and telecom sectors, the Union Finance Minister, Mr P. Chidambaram, said here on Monday. Addressing the 77th annual ... More

VAT white paper draft to be ready by next week — Roadmap for CST abolition already done: Dasgupta
NECESSARY amendments to the draft VAT Bill provisions of all States have been done with the sole exception of Uttar Pradesh (now in the process of carrying out this exercise), and the final draft of the White Paper will be ready by next week for ... More

AP Govt firm on introducing VAT from April 1
THE Andhra Pradesh Government is firm on introducing value-added tax regime from April 1, and is holding a series of meetings all over the State to prepare the trade for the purpose, according to Mr V. Bhaskar, Commissioner, Commercial ... More

CII calls for doubling direct tax revenue by '07
THE Confederation of Indian Industry (CII), in its pre-budget recommendations, has called for doubling direct tax net by March 2007, by including agricultural incomes and greater coverage of professionals and self-employed. The industry ... More

BREWERIES
YEARENDER
Mallya seen gaining ground in liquor industry
THE year that draws to a close saw the domestic liquor industry's long-running script, which featured Mr Vijay Mallya and the Manu Chhabria family as the lead players, falling apart. What might necessitate a change in the storyboard is the ... More

EDUCATION
`More tie-ups between Indian, foreign varsities likely'
THE President of the Manipal Academy of Higher Education (MAHE), Dr Ramdas Pai, has said that more and more foreign universities may link up with Indian universities under the WTO regime, and they may offer foreign degrees to students in India. ... More

Act to govern functioning of NITs on cards
THE Union Government is likely to introduce an Act to govern the functioning of national institutes of technology in the country, according to the Director of National Institute of Technology Karnataka (NITK), Dr S.S. Murthy. Presiding over ... More

IPR
Left protests against Ordinance to amend Patents Act
THE Left parties on Monday reacted strongly against the Government's decision of promulgating an Ordinance to amend the Patents Act barely days after winter session of Parliament ended. In a statement, the CPI (M) said, "The Polit Bureau ... More

SOCIAL WELFARE
No affirmative action on quotas in pvt sector: Chidambaram
THE Government has no intention to legislate "affirmative action" (reservations) in the private sector, the Union Finance Minister, Mr P. Chidambaram, has said here. "All that we are keen is to open a dialogue with industry on this issue," he ... More

EXPORTS & IMPORTS
Electronic goods export to UAE rises 72 per cent
EXPORT of Indian electronic goods to the UAE during 2003-2004 was estimated at $100 million registering a growth of 72 per cent over the year 2002-03, when the export of electronics goods to UAE was $58.11 million. Mr Kamal Vachani, Regional ... More

Upward trend continues in spices export
THE upward trend in spices exports continued with substantial increase, both in volume and value, during April-November from that of the previous fiscal. Probably for the first time, chilli has become the major contributor to the export ... More

Software exports up 30 pc in first half: ESC
COMPUTER software exports including IT enabled services is estimated to have touched Rs 35,000 crore during the first six months of 2004-05, registering a growth of 29.63 per cent according to the Electronics and Computer Software Export ... More

Spices Board plans to check export quality of vanilla
IN a bid to ensure that only standard quality vanilla is exported, the Spices Board plans to evolve a mechanism to check the quality parameters and vanillin content for exportable vanilla. A notification to this effect will be issued soon. This ... More

NATURAL CALAMITIES
RBI package for tsunami-hit States
THE Reserve Bank of India has announced a relief package for the States devastated by the tsunami disaster and has asked banks to immediately initiate the package of measures in calamity affected areas. Banks have been asked to provide ... More

Assocham puts tsunami damage at over Rs 2,000 cr
EXPRESSING deep sorrow and grief over the human causalities due to the tsunami, the president of the Associated Chambers of Commerce and Industry of India (Assocham), Mr Mahendra K. Sanghi has extended appeal to its constituents to come ... More

Where fisherfolks are literally at sea — `None of the vessels insured'
A 10-km stretch of road beyond the fishing harbour at Royapuram in North Chennai gives a sampling of the loss of human lives and property caused by the tsunami that hit Tamil Nadu's shores on Sunday morning. Living along the seashore, the ... More

Death toll rises to 146 in Kerala; relief activities under way — PM to make aerial survey of tsunami-hit areas
THE Prime Minster Dr Manmohan Singh will arrive in Thiruvananthapuram on Tuesday evening as part of his tour of the tsunami-hit areas of south India, says an official press release. Dr Singh is expected to arrive in the city at 4 p.m. on ... More

Banks in AP told to dole out relief
THE State Level Bankers Committee (SLBC) has directed all the banks to initiate immediate relief measures in the tidal wave affected areas of coastal Andhra on a war footing as per Reserve Bank of India guidelines, according to Mr T.S. ... More

Death toll in AP rises to 90; 154 fishermen missing
THE death toll rose to 90 in Sunday's tsunami onslaught on Andhra Pradesh, with 154 fishermen still reported missing. Fishermen have been asked not to go fishing for at least two days as the State monitors the situation. The loss to property ... More

Navy intensifies rescue operations
THE Eastern Naval Command intensified rescue and relief operations along the coast on Monday, the second day after the tsunami wave and earthquake, according to a press release issued by the authorities. As part of the disaster management, the ... More

Apollo Hospitals to aid tsunami victims
HYDERABAD: The Apollo Hospitals Group has announced that it will offer a range of free healthcare services for all those affected by the tidal waves. The hospital group set up a helpline (1600-33-1066) for the needy and those wanting to ... More

Jayalalithaa meets Home Minister, seeks aid — Relief operations stepped up in TN
RELIEF operations have been stepped up in the States affected by Sunday's tsunami (seismic sea waves) that has caused great loss to life and property. The death toll continues to rise and has been put at several thousands, with Tamil Nadu being ... More

Hyundai to decide on fate of deluged cars by Wednesday
HYUNDAI Motor India will take a decision by Wednesday on what it should do with the 1,173 Santro cars that were parked at the Chennai Port for exports and which were drenched in the tsunami (huge seismic sea waves caused by undersea earthquake) ... More

Pawan Hans shifting a copter to Chennai; offers more
IN an effort to facilitate the relief work in the areas hit by the tsunami, Pawan Hans Helicopters Ltd is shifting one more Dauphin helicopter to Chennai. Senior officials told Business Line that while the helicopter, which is stationed ... More

Seeking divine intervention
The fisherwomen of Kotha Jalaripeta in Visakhapatnam going in a procession to the temple of Sea Goddess Gangamma, opposite the Fishing Harbour, to appease the deity with pots containing toddy, turmeric water and neem leaves. ... More

The day after
The fishing harbour limping back to normalcy in Visakhapatnam Harbour on Monday as fishermen go about their business of drying fish.

Tsunami: CII-SR expresses shock
HYDERABAD: The Confederation of Indian Industry (CII- Southern Region) has expressed deep shock and grief at the tragic loss of lives. In a press release here on Sunday, Ms Shobana Kamineni, Chairperson of CII (Southern Region), Mr ... More

Govt asks insurance cos to provide immediate relief
THE Finance Ministry has asked insurance companies to provide immediate relief to victims/their families affected by the devastation caused by Tsunami in the States of Tamil Nadu, Andhra Pradesh, Kerala and Andaman & Nicobar ... More

Geophysicists body to discuss seismicity
The slippages in its plates, have unleashed a massive 8.9 magnitude earthquake, and around 27 after-shocks of over 5.5 magnitude, starting off Sumatra Islands in Indonesia on a quiet Sunday morning to Andaman & Nicobar Islands, a stretch of about More

Cabinet authorises release of Rs 500 cr to calamity fund
THE Union Cabinet today authorised the immediate release of Rs 500 crore to the National Calamity Contingency Fund (NCCF), which will go towards financing relief operations in the tsunami-hit States. The decision was taken at an evening meeting ... More

Tsunami's fury in Kanyakumari district: Jayalalithaa assures assistance
THE Chief Minister of Tamil Nadu, Ms J. Jayalalithaa, has assured that the State Government would render all assistance to the victims of tsunami's fury in Kanyakumari district. The Chief Minister, who visited St Xavier's Church and the Assisi ... More

Karnataka to give Rs 5.5 cr to tsunami-hit States
THE Karnataka Government has announced an assistance of Rs 5.5 crore to the tsunami-affected States in the country. The Karnataka Chief Minister, Mr Dharam Singh, who visited the Surathkal coast, near Mangalore, on Monday told presspersons ... More

Banks respond
BANKS have started making contributions to the Prime Minister's National Relief Fund. Bank of Baroda has donated Rs 5 crore to the fund. "The bank will provide every support to the affected customers so that they can quickly return to their ... More

Tsunami causes Rs 6-lakh loss in Dakshina Kannada
THE total loss in Sunday evening's high tidal waves in Dakshina Kannada district has been estimated at Rs 6 lakh. Ten fishing boats have been damaged due to the waves. The Dakshina Kannada Deputy Commissioner, Mr Aravind Srivastav, told ... More

Tsunami hits Chennai hotels' New Year plans
THE killer Tsunami tidal wave, which hit the coasts of Southern India on Sunday, leaving thousands dead, has also impacted New Year celebration plans. While most of the leading hotels in Chennai have called off their planned New Year parties, ... More

Kerala: Arrangements for water supply in tsunami-affected areas
THIRUVANANTHAPURAM: The State Government has made arrangements to supply drinking water to the tsunami-affected areas of Kerala, says an official press release. Arrangements have also been made to supply drinking water to all the relief ... More

Maditssia mite to relief fund

BPL Mobile employees' gesture

TOURISM
Tsunami impact: No cause for panic, says tourism industry
THE tsunami that swamped Kerala's coastal districts on Sunday has caused deep concern in the State's tourism industry. However, leading hoteliers and tour operators emphasise that there is no need to panic. "All tourists currently holidaying ... More

`Pay attention to eco-tourism'
ALL efforts must be taken to ensure that tourism involves and benefits local communities, Mr Justice K.G. Balakrishnan of the Supreme Court of India, has said. He made this observation while inaugurating a conference on tourism, organised by ... More

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