The Hindu Business Line : Saturday, May 05, 2007

CLIMATE & WEATHER
Summer rains bring no cheers to cardamom planters
Though there had been some summer showers last month in the cardamom growing regions, they do not seem to be enough to revive the plants, damaged by the unprecedented five-month long dry spell from mid-November last year. An estimated 30-50 ... More

NRIS
City Union, Doha Bank tie up
City Union Bank has entered into an `e-remittance' service agreement with Qatar-headquartered Doha Bank QSC. The agreement envisages electronic remittance of funds by NRI clients of CUB (in West Asian countries) to designated ... More

Karnataka Bank hikes NRE, FCNR deposit rates
Karnataka Bank has increased interest rates on its NRE and FCNR(B) deposit schemes with effect from May 1. A bank release said here on Friday that the interest rate on NRE deposits has been increased to 5.30 per cent (5.22 per cent) for tenure ... More

BUDGET
Parliament passes Finance Bill
Parliament on Friday passed the Finance Bill 2007, with the Rajya Sabha approving the Bill through a voice vote. The Lok Sabha had passed the Bill on Thursday after incorporating 37 amendments moved by the Government. Meanwhile, the Finance ... More

COURTS/LEGAL ISSUES
Restricting Tribunal's power of staying demands is unjust
The Tribunal is an important judicial forum and to restrict its power in the matter of grant of stay of demand during the pendency of appeals before it, is a serious intrusion in its functioning. More

HC ruling on TNEB fixing different scales
The only point urged by petitioners was that there should be equal pay for equal work. More

India joins Hague Conference
India's membership to the Hague Conference on Private International Law was given Cabinet approval on Thursday. The inter-Governmental organisational works towards the unification of rules of private international law, by finding ... More

ECONOMY
Plan panel favours viable strategy for farm growth
Meeting on May 14 to draw a roadmap for 11th Plan More

Secure energy sources vital for economic growth: Pranab
`Recent upsurge in Indo-US relations has caught everybody's attention' More

`Business confidence low in Jan-March quarter'
Tighter monetary conditions may have triggered fall: NCAER survey More

FOOD & DAIRY PRODUCTS
`Higher excise relief will help keep biscuit prices in check'
Positive impact on industry; to provide level playing field More

FOREIGN TRADE
`India, Pak must promote SAFTA'
Pakistan and India have a responsibility to promote the South Asian Free Trade Agreement (SAFTA) for the development of the region, said Mr Shahid Malik, Pakistan High Commissioner to India. While addressing the members of the PHD Chamber of ... More

Nathula deals: Daily ceiling for trader enhanced to Rs 1 lakh
A day after the start of the second season of trade through the Nathula border point between India and China, local traders have something to cheer about. The Union Government has decided to raise the daily ceiling on trade, thus meeting one of ... More

India, Pak for reciprocal banking services
The Reserve Bank of India (RBI) and the State Bank of Pakistan (SBP) have reached an understanding on granting permission for opening two branches of banks from India and Pakistan in each other's country on a reciprocal basis. The specific ... More

INFRASTRUCTURE
Infrastructure: Pass through status for VCF investments
The Union Finance Minister, Mr P. Chidamabram, on Friday said that pass through status would be available to venture capital funds (VCFs) investing in entities setting up specified infrastructure facilities, including roads, highway projects, ... More

PSU
United Electrical makes profit
All PSUs in electrical sector back in the black More

POWER
Bill on DVC management recast
In an effort to broad base the Damodar Valley Corporation management, a legislation providing for inclusion of professionals and experts in the company was moved in the Lok Sabha today. The Damodar Valley Corporation (Amendment) ... More

Model desalination plant
THE DESALINATION PLANT at Kavaratti Island in Lakshadweep, set up by the National Institute for Ocean Technology, Chennai, has become a model for the country. This plant makes about 1.2 lakh litres of pure water a day by boiling seawater in ... More

TEXTILES
Textile stocks remain stable despite rising rupee
More companies paying attention to domestic retail More

EDUCATION
American school set up in Kolkata
After New Delhi, Mumbai and Chennai, it is the turn of Kolkata now to have an American school, named American School Kolkata (ASK), for children with foreign passports and immigrant status as determined by the Ministry of External Affairs. The ... More

FOODS & FOOD PROCESSING
MTR Foods sees no big impact
MTR Foods says the announcement by the Finance Minister, Mr P. Chidambaram, that ready-to-eat (RTE) packaged foods would be exempted from excise duty (as against 8 per cent duty earlier) will not have a "big impact" on the company. According ... More

REAL ESTATE & CONSTRUCTION
In4velocity develops Web-based application for realty sector
Domain-centric software connects all business processes More

MINERALS
Goan exporters welcome duty cut on iron ore
The Goan iron ore exportes have welcomed the decision of the Union Finance Minister, Mr P. Chidambaram, to partially reduce the Customs duty on iron ore fines with Fe content up to 62 per cent to Rs 50 a tonne from Rs 300. A spokesman of the ... More

INCOME TAX
Irritants in the new income-tax forms
While income-tax isn't new, effective mid-May, we are to have new tax forms, called the ITR series. "Over the last few years, the taxman has been attempting experiments both in lawmaking and return forms for filing tax returns, but not all ... More

`Doubtful if employers would think of FBT recovery on ESOP'
"In addition, the employers will have to go through the hazard of claiming it as revenue expenditure under the umbrella section 37(1) of the Income-Tax Act. More

ALTERNATIVE MEDICINES
Prospects for herbal product exports brighten
Export inspection certification programme likely soon More