Accountancy
Member moves DCA over ICWAI accounts
L'AFFAIRE ICWAI has taken a sudden turn with a Bangalore-based member engaging a law firm to highlight the alleged irregularities in the annual accounts of the institute for 1999-2000.
Airlines
Global flight engineers AGM on Nov 25 in Mumbai
THE Annual General Meeting (AGM) of the International Flight Engineers Association (IFEO) for 2000 will be held during November 25-27 in Mumbai.
Automobiles
ICRA warns of possible shake-out in car industry
INVESTMENT Information and Credit Rating Agency (ICRA) has warned of an impending shake-out in the domestic passenger car industry. The rating agency has said that the industry is likely to witness consolidation among the dozen car manufacturers currentl
y in operation.
Banking and Finance
Bank bill keeps future divestment option open
THE Bill to enable pruning of the Centre's stake in public sector banks below 51 per cent would also pave the way for future disinvestment of Government holding in the banks.
Chemicals
Dumping duty on imported soda ash recommended
THE Designated Authority in the Commerce Ministry has recommended the imposition of preliminary anti-dumping duty on imported sodium hydroxide commonly known as soda ash from the US, Japan, France, Iran and Saudi Arabia.
Coal
Strike hits coal mines in Bengal, Jharkhand
ACTIVITY came to a virtual halt in the mines of Eastern Coalfields Ltd, Bharat Coking Coal Ltd and Central Coalfields Ltd in West Bengal and Jharkhand on the first day of the three-day industry-wide strike today. The strike call was given by the CITU-aff
iliated unions and was actively supported by Maoist Coordination Centre.
Corporate
ICI to sell polyurethane, paints businesses
ICI India Ltd is proposing to sell its polyurethane business to a wholly-owned subsidiary of Huntsman Corporation of the US or its affiliates to be incorporated in the country.
Courts
HC ruling set aside in gift tax case
COULD release of the rights of an assessee in the assets of a firm in which he was a partner, for a consideration less than the market value of his share, amount to a gift within the meaning of the Gift Tax Act, 1958?
Economy
Centre implementing scheme on disaster management
A CENTRAL sector scheme on natural disaster management is under implementation and apart from the established National Centre for Disaster Management, the Central Government is extending assistance to the States for setting up of disaster management faci
lities at State levels, the Minister for Rural Development, Mr M Venkaiah Naidu, said.
Foreign Trade
`Roadshows, fairs to boost ties with Asean vital'
INDIA should focus on maintaining and promoting good relations with the member states of the Association of South East Asian Nations (ASEAN) and follow up on the existing initiatives, the Confederation of Indian Industry (CII) has said.
`Safeguards against trade diversions via SAPTA'
THE Commerce Secretary, Mr Prabir Sengupta, has dispelled doubts of the domestic industry about trade diversion from third countries exploiting the SAARC preferential trading arrangement (SAPTA), stating that the Rules of Origin were framed in such a way
as to ensure that ``such trade diversions do not take place.''
Information Technology
NIIT rejigs to reach Rs 10,000-cr turnover
NIIT Ltd has recast its organisational structure with a view to achieving a turnover of Rs 10,000 crore within six years.
Raising doubts in the US over IT skills import
THE recent enactment of a bipartisan legislation by the US Congress increasing the cap on the issuance of H-1B visas from 1,15,000 to 1,95,000 has caused a groundswell of opinion in the American labour market against `imported' techies' even as it has b
rought about significant changes in the business parameters of body-shopping entities in India.
Construction Portal expands base in AP
CONSTRUCTION Portal Pvt Ltd (CPPL) is expanding its base in Andhra Pradesh, with the launching of its product, `indiaConstruction.com, India's first B2B construction portal, in Vizag.
Infrastructure
Pant unhappy with private response to infrastructure
THE Deputy Chairman of the Planning Commission, Mr K.C. Pant, expressed serious concern over the response of the private sector to the various initiatives of the Government in the development of infrastructure sector.
Petroleum
Oil cos to bear brunt of roll-back
PUBLIC sector oil marketing companies are set to bear the entire brunt of the roll-back in LPG and kerosene prices announced on Sunday.
`Petronet project fate hangs on NTPC offtake'
THE 5 mmtpa Petronet LNG project at Dahej is not likely to be commercially viable unless National Thermal Power Corporation (NTPC) agrees to buy gas for its four proposed gas-fired 650 MW-each projects at Anta, Auraiya, Kawas and Gandhar from the LNG pro
ject, according to the Gaz de France President and Chief Executive Officer, Mr Pierre Gadonneix.
Power
PM to inaugurate WEC executive assembly
THE Prime Minister, Mr A.B. Vajpayee, will inaugurate the executive assembly of the World Energy Council (WEC) here on Wednesday.
States
Kerala bid to woo Gulf investors
THE Kerala Government has offered a slew of projects to potential investors from the Gulf countries.
President to unveil Kerala Labour Agenda
THE President, Mr K.R. Narayanan, will formally unveil the Labour Agenda, a slew of projects proposed to be implemented by the Kerala Government with a view to stimulating the labour sector and ensuring the welfare and development of workers in the State
.
Awareness programmes for rural farmers
AFTER a week-long `soul-searching mission' conducted as part of the 47th All-India co-operatives' week -- which commenced on the birth anniversary of Pandit Jawaharlal Nehru on November 14 and ended here on Monday -- members and office-bearers of various
agricultural co-operatives decided it was high time they took stock of the fate of farmers in the new economic regime.
Stocks
CFRS shares firm up
MOST of the 15 stocks that would go in for carry forward in rolling settlement (CFRS) from tomorrow (Tuesday) staged a smart rally today. These shares surged on the back of availability of CFRS on T+5 basis, a mechanism to carry forward speculative posit
ions without taking delivery.
In-transit shares -- SEBI to regulate traffic
THE Securities and Exchange Board of India (SEBI) is likely to take a view to resolve the issues arising from the incidence of shares ``in-transit''.
Taxation
Special allowances of Army personnel exempted from I-T
THE Finance Ministry has acceded to the demands of armed forces to grant full income-tax exemption on a host of special allowances drawn by them. The exemptions will be with retrospective effect from May 1, 1999.
Technology
Another ISRO deal with Intelsat on the cards
ISRO expects to clinch its second deal soon with prime client Intelsat for leased capacity on its future satellite.
Textiles
Threshold for TUFS loan lowered to Rs 25 lakh
THE Small Industries Development Bank of India (SIDBI) has relaxed the norm relating to the threshold limit for direct term loan assistance under the textile technology upgradation fund scheme (TUFS).
