The Hindu Business Line : Friday, June 06, 2008

ACCIDENTS
Explosion at Panna-Mukta fields halts production
Mumbai, June 5 A minor explosion at the offshore Panna-Mukta oil and gas fields, jointly held by BG India, ONGC and Reliance Industries, on Tuesday has led to a temporary shut down of the fields. The incident also claimed the life of a ... More

RESEARCH & DEVELOPMENT
Patents do not require big bucks
New Delhi, June 5 Patents do not require big bucks and nor do massive R&D spends necessarily translate into an increase in patent filing. This can be seen from data provided in the latest annual report (2007-08) of the Department of ... More

NRIS
‘Expats remit $26.5 b, higher than combined FII, FDI flows’
More

BUDGET
Centre’s subsidy bill on food may top budget allocation
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ECONOMY
Oil price rise: Govt goes into austerity drive
Advises against wasteful expenditure More

RBI fully geared to fight inflation
No efforts will be spared, says Reddy More

Petro price hike and inflation: Will sales tax rate cuts help?
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ENVIRONMENT
Environment day with a difference
Kolkata, June 5 “Kolkata is after all livable only during a bandh,” – is how Mr K.K. Nevada, President, Bengal National Chamber of Commerce, described the city on the Environment Day, which happened to escape its daily dose ... More

Cochin SEZ's green drive
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‘Citizens want Govt to take responsibility for eco issues’
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Amrita Patel gets environ award
Anand, June 4 The President, Ms Pratibha Patil, conferred on Dr Amrita Patel, Founder Chairperson of the Foundation for Ecological security (FES), Anand, the Indira Gandhi Paryavaran Puraskar on the World Environment Day today, at New Delhi. ... More

FOREIGN TRADE
Myanmar investment pact okayed
The Union Cabinet today gave its approvals for enhancement of the age of superannuation in respect of teaching specialist of Central Health Service doctors from 62 years to 65 years. The enhanced age of retirement would be available to those ... More

HEALTH
Public-private partnership model to tackle HIV
Hyderabad, June 5 Andhra Pradesh is planning to have around 1,200 new clinics that would provide facilities to deliver services for the treatment and prevention of sexually transmitted infections (STIs) and thereby halt the spread of ... More

PETROLEUM
Essar Oil may go cautious on Vadinar unit expansion
Mumbai, June 5 Essar Oil may turn cautious in its implementation of the $6 billion expansion that it has proposed to take up at its 10.5 million tonne oil refinery in Vadinar in the wake of the Finance Ministry striking out refinery units ... More

‘General strike’ peaceful, total
Kolkata, June 5 Today’s 12-hour “general strike” called by the Left Front in West Bengal to protest against the Centre’s decision to hike the prices of petrol, diesel and LPG was “total and spontaneous” ... More

Rest day
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Boat operators’ plea on diesel price hike
Visakhapatnam, June 5 The Visakha Dolphin Boat Operators’ Welfare Association has urged the Union Government to roll back the hike in diesel price as it will adversely affect the fisheries sector, which is already under great ... More

ONGC to supply gas to NEEPCO’s power plant
New Delhi, June 5 ONGC will supply 0.5 million standard cubic metres a day of gas for a period of 15 years to North Eastern Electric Power Corporation Ltd’s (NEEPCO) gas-based power plant coming up at Monarchak in Tripura. ... More

ONGC hires Reliance facility
OIL and Natural Gas Corporation Ltd. (ONGC) has entered into a contract with Reliance Industries Ltd to hire the latter’s single point mooring facility on Arabian Sea off Hazira coast in Gujarat. In a statement issued here, the company ... More

Fuel price hike unavoidable: India Inc
New Delhi, June 5 The Indian industry on Wednesday termed the fuel price hike as “unavoidable” and said that the move would provide some cushion to the under-recoveries of about Rs 550-600 crore a day that oil marketing companies ... More

Against fuel price hike
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POWER
GMR picks China co as engg contractor
Orissa thermal project More

Revamp: Damodar Valley board may consider KPMG proposals
To pave way for public issue More

TAXATION
TN cuts sales tax on diesel
Chennai, June 5 The Tamil Nadu Government has cut the sales tax on diesel by two percentage points representing a relief of about 60 paise a litre to the consumer.According to an official press release, the State Government announced ... More

Dispute resolution scheme for service tax up to Rs 25,000
The Finance Ministry has come up with a dispute resolution scheme as a one-time measure for quick resolution of disputes involving small service tax amounts up to Rs 25,000.However, cases involving non-payment of service tax after ... More

Off the roads
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VAT Panel to meet on June 16
State Finance Ministers are to meet here on June 16 under the aegis of the Empowered Committee of State Finance Ministers on Value Added Tax (VAT). Indications are that the State Finance Ministers would discuss the sales tax rates on petrol and ... More

TEXTILES
‘India’s non-woven sector to grow at 13.3%’
More

EDUCATION
Indian students more aspirational, career focussed: Accenture
Bangalore, June 5 Indian students are seen as more aspirational and career focussed than most of their counterparts across the globe. In a study by Accenture on ‘India Graduating College Seniors Concerned About Job Prospects,’ it ... More

Deemed varsity status for Nitte
The A.B. Shetty Memorial Institute of Dental Sciences, managed by Nitte Education Trust, has been granted the status of deemed university. A press release from the trust said here on Thursday that Nitte University has been formed and declared as ... More

Cabinet approves financing education exchange programmes with US
New Delhi, June 5 The Union Cabinet on Thursday gave its approval to the revised draft agreement between the Centre and the US Government for financing certain education exchange programmes. It also gave its approval for change in ... More

REAL ESTATE & CONSTRUCTION
Hyderabad co's offer for flat owners
More

INDUSTRY ASSOCIATIONS
Rubber merchants’ plea to Kerala Govt on refunds
Kochi, June 5 The Cochin Rubber Merchants Association has urged the Kerala Government to direct the sales-tax authorities to refund the excess amount deposited by the rubber dealers conducting inter-state trade. The Association ... More

KNITWEAR & HOSIERY
e-Readiness centre for Tirupur knitwear cluster to be launched today
Aims to help small and medium enterprises improve competitiveness More

MINING & QUARRYING
NMDC’s project gets clearances
Hyderabad, June 5 NMDC’s new project of Deposit 11B in Bailadila sector of Chhattisgarh has got all the statutory clearances and the mine is under construction. The public sector undertaking has four production units in ... More

IICT, BHP Billiton sign MoU for joint research
Hyderabad, June 5 The Indian Institute of Chemical Technology (IICT) here has signed a Memorandum of Understanding with Australian mining giant BHP Billiton. The understanding with BHP Billiton Innovation, Melbourne, would entail joint ... More

MINERALS
Iron ore offtake may drop 10-15% due to China’s import curbs
Bangalore, June 5 The Federation of Indian Mineral Industries (FIMI) envisages a slowdown in China’s import of iron ore, partly due to constraints from domestic factors like increase in rail freight rate and restriction by ports in ... More

IPR
Unctad to support ‘creative economies’
To facilitate e-platform to market GI products More

EVENTS
Victual reality
A sampling of two food shows More

ENTREPRENEURSHIP
Entrepreneurship training programme
More

EXPORTS & IMPORTS
Pepper exports fetch Rs 213 cr more in 2007-08
Coonoor, June 5 Despite rupee appreciation and unsteady commodity market movements, India regained its prominence in global pepper trade in 2007-08, an analysis of the latest information available with the Spices Board and exporters reveals. ... More

ALTERNATIVE MEDICINES
Two-day convention on Ayurveda in Aug
Coimbatore, June 5 In its bid to take Ayurveda to global and grass root levels, the Arya Vaidya Pharmacy (Coimbatore) Ltd is planning an international convention between August 22 and 24 at the Codissia Trade Fair Complex here.The ... More

ECONOMIC OFFENCES
Cabinet nod for money laundering law
Casinos, full fledged money changers (FFMC), money transfer service providers (MTSPs) such as Western Union and international payment gateways such as Visa and MasterCard would soon be required to take reporting obligations under the Indian ... More