The Hindu Business Line : Wednesday, July 02, 2008

NRIS
‘Many Gulf Indians in debt trap’
Kochi, July 1 Accompanying a major proliferation of the sources of credit in the UAE, payment defaults and cases against defaulting Indians have also been on the rise. While the main sources of loans continue to be banks that charge up ... More

Corporation Bank hikes NRE rates
Corporation Bank has increased the rate of interest on NRE term deposits with effect from July 1. A bank release said here on Tuesday that the interest rate on NRE term deposits has been increased to 3.31 per cent (3.16 per cent) for a tenure of ... More

AUTOMOBILES
Auto cos post higher sales in June
New Delhi, July 1 Domestic auto companies managed to report higher sales despite interest rates and the looming threat of inflation on consumer’s pocket. Beating all the macro economic blues for the third consecutive month of ... More

ECONOMY
Sensex drops below 13,000 as markets take a beating
Host of negatives dampen sentiment; Nifty down to 3,869 More

Rupee loses 30 paise to the $
Mumbai, July 1 The rupee continued its downward trend and closed 30 paise lower against the dollar, due to fears of high oil price and pullout by FIIs from the domestic stock market. The Sensex lost 500 points today and global oil ... More

Fuelling a diesel crisis
More

EXCISE AND CUSTOMS
Excise duty on pan masala
Excise duty on pan masala would now be based on production capacity with effect from July 1 this year. Hitherto, an optional scheme existed for payment of excise duty on the basis of compounded levy for pan masala and gutkha. The new mandatory ... More

FOREIGN TRADE
COMMODITY COMMENTARY
‘Indian entrepreneurs in Sri Lanka flouting spirit of FTA’
Mumbai, July 1 Some of the Free Trade Agreements (FTAs) the country has got into in recent years have resulted in unintended adverse consequences, primarily because of non-application of mind at the time of negotiations and signing of the ... More

HEALTH
Ambulance Access has dial-in service
Thiruvananthapuram, July 1 The not-for-profit ‘Ambulance Access for All’ has launched its ‘Dial 1298 for ambulance’ service in Alappuzha and Kottayam districts. Initially, five ambulances will be operated in each ... More

INFRASTRUCTURE
AP plans another infrastructure investment corridor
Hyderabad, July 1 The Andhra Pradesh Government is proposing to create an infrastructure investment corridor between Hyderabad and Machalipatnam. According to official sources, the proposed corridor will cover a distance of ... More

Ascendas scouts for more investment opportunities
To develop 4 SEZs in the country; eyeing new areas, including logistics More

PETROLEUM
Airlines divided on raising fares
Federation will take a decision on the issue soon More

Oil cos losing over Rs 700 cr a day on fuel sales
New Delhi, July 1 With the global crude prices rallying above $140 a barrel mark, the public sector oil marketing companies (OMCs) are feeling the pressure on their profitability. The combined revenue loss of the three OMCs – ... More

Fuel shortage continues for second day in Chennai
Chennai, July 1 Even as the Chief Secretary of Tamil Nadu, Mr L.K. Tripathy, gave assurances that effective steps had been taken to ensure enough availability of petrol and diesel at retail outlets, many petrol bunks in the city continued to ... More

High fuel cost may impact CV, car sales: Ratan Tata
‘Year ahead will be a year of major challenges’ More

POWER
Is the Govt skilfully cornering the Left?
“All that I want”, the Prime Minister, Dr Manmohan Singh, is reported to have said on the sidelines of a book release function on June 30, “is the authority to proceed with the process of negotiations through all stages like ... More

STEEL
Goa mine owners upset over hike in iron ore export duty
More

TEXTILES
Ban on cotton exports sought
The Confederation of Indian Textile Industries today demanded that the Government should ban export of cotton exports till December-end and allow duty free import of cotton to bring down cotton prices. The Vice-President of the confederation, Mr ... More

Textile industry to hold rally in Erode today
Coimbatore, July 1 The Textile Industries Joint Action Committee (TIJAC), Erode, will organise a rally and public meeting in Erode on Wednesday to demand that the Central and State Governments take immediate steps to save the ... More

COAL
17 cos submit expression of interest to develop Coal India mines
List includes Reliance Natural, Essar Mineral, Rio Tinto More

EDUCATION
MG varsity book release
A s part of the silver jubilee celebrations of the Mahatma Gandhi University, the Department of Printing and Publishing is organising a function at Baselius College here on Wednesday for the release of the first academic book published under ... More

FOODS & FOOD PROCESSING
Chamber seeks package for processed food industry
Indian Chamber of Commerce and Industry has called upon the State Government to announce a special package of assistance, incentives, support and know-how for setting up processed food industries as well as export promotion. As the ... More

REAL ESTATE & CONSTRUCTION
India rises in real estate transparency index
More

Tata arm to develop, lease out centres to TCS
Software firm plans to add 30,00 seats More

INDUSTRY ASSOCIATIONS
Oil market tightness to continue, says energy body
Demand in key energy markets to prolong: IEA More

NEWSPAPERS & PUBLISHING
Death and obliteration
One hundred years ago, in the cold wastes of Siberia, the sky was suddenly lit up by a blinding flash which was followed by some milliseconds of eternity. When the momentary cataclysm was over, the landscape had changed beyond recognition. It is ... More

RURAL DEVELOPMENT
Nabard preparing scheme for Sivaganga
Madurai, July 1 The National Bank for Agriculture and Rural Development (Nabard) is preparing a comprehensive development programme for the Sivaganga district. Speaking to Business Line on the sidelines of the foundation ... More

EXPORTS & IMPORTS
COMMODITY COMMENTARY
Is ban on cotton export justified?
Mumbai, July 1 The domestic cotton textiles industry has in recent weeks intensified its efforts to get cotton exports banned. From its own perspective, the industry may be justified in demanding a prohibition on exports as internal prices ... More