Airlines
Thai Airways decision on Indian operations soon
THAI Airways International is to decide soon on whether it should operate more flights to Delhi or start a new service to Mumbai.
Automobiles
Maruti talks fail again
TALKS between the agitating employees and the management of Maruti Udyog Ltd (MUL) have failed yet again on Thursday.
Banking and Finance
Bank forum calls strike on Dec 21
THE United Forum of Bank Unions (UFBU), the body of nine unions of bank employees and officers, has given a call for a nationwide bank strike on December 21 to protest against the Banking Companies (Acquisition & Transfer of Undertakings) and Financial I
nstitutions Laws (Amendment) Bill 2000 introduced in Parliament on Wednesday.
Commodities
Export duty gets under leather industry skin
EVEN while the leather industry is preparing to put its best foot forward for the India International Leather Fair, there is a controversy brewing over the export duty imposed on semi-finished leather.
Corporate
Revamp, reshuffle at RPG group
MAJOR organisational changes have been made by the Rs 6,500-crore RPG group. The changes were announced by the group Chairman, Mr H.V. Goenka.
Tata Power board to meet on Petrodyne buy
THE board of Tata Power Company Ltd will meet on December 20, to consider a proposal from Tata Industries Ltd to fully acquire Tata Petrodyne Ltd.
Industry agrees to spruce up data collection mode
INDUSTRY would strive for further strengthening its research and data collection capabilities at the `micro level' to generate ``high quality and wide-ranging'' data that are needed for justifying Government's intervention against unfair imports inflicti
ng material injury to domestic industry.
Nusli Wadia wants exit route for all in hostile bids
MR Nusli Wadia, chairman, Bombay Dyeing and Manufacturing Company Ltd, has suggested that all shareholders be provided with an exit route in instances of an `hostile takeover'.
Boards okay Bisnauth merger with Eveready on 4 for 3
THE boards of The Bisnauth Tea Company Ltd and Eveready Industries India Ltd in their respective meetings today approved a scheme of amalgamation of Bisnauth with Eveready with retrospective effect from April 1, 2000.
Mysore Lamps up for sale
THE Karnataka Government has decided to float a global tender to sell the Mysore Lamp Works Ltd. (MLW), a sick State public enterprise, which has run up an accumulated loss of Rs 47 crore.
Courts
Non-appearance before ED an offence under FERA: HC
THE Madras High Court has held that non-appearance before the Enforcement Directorate on summons would amount to disobedience warranting action under Section 56 of the Foreign Exchange Regulation Act, 1973.
Economy
Bengal Govt proposes to increase non-tax revenue
IN a belt-tightening measure before the close of fiscal 2000-01, the West Bengal Government is planning a slew of measures aimed at increasing non-tax revenue through hikes in mineral concession fees, royalties and stamping of weights and measures. The S
tate Government has also announced some economy measures.
Information Technology
Computer literacy: It's a huge market out there
WITH various State Governments going on an overdrive to promote computer literacy, especially among school children, yet-another booming market has sprung up for companies in the IT education business.
HCL Perot hopes for Rs 600-cr turnover -- IPO in early 2002
HCL Perot Systems (HPS), a 50:50 joint venture between Perot Systems Corporation and HCL Technologies, has said its turnover will touch Rs 600 crore by the end of next year.
Infrastructure
Infrastructure financing agencies may get I-T sops
THE Finance Ministry is considering a proposal to allow agencies financing infrastructure projects to float bonds and raise funds at a cheaper cost by providing tax breaks to investors subscribing to these bonds.
Mutual Funds
Sundaram Newton revamps brokerage structure
SUNDARAM Newton Mutual Fund has revamped brokerage structures for select schemes, following feedback from some of its distributors. The new structures, to be effective from December 15, would relate to Sundaram Growth Fund, Sundaram Balanced Fund and Sun
daram Tax Saver.
Power
IMG report on power sector soon: Minister
THE inter-Ministerial group set up by the Union Power Ministry will soon come out with its report, which will be a blueprint as well as a white-paper on the country's power sector, the Union Power Minister, Mr Suresh Prabhu, has said.
Loan rate cut impact on tariff marginal: DPC
THE cut in interest rates on loans to the Dabhol Power Corporation (DPC) is unlikely to reduce the tariffs charged to the Maharashtra State Electricity Board (MSEB).
Gujarat allocates Tapti gas to Kribhco's power project
THE Gujarat Government, which has been granted an in- principle allocation of 2.25 mmscmd of gas from the Tapti fields by the Ministry of Petroleum and Natural Gas, has reallocated the same to Kribhco. According to sources in the Ministry of Energy, the
gas has been earmarked for the 615-MW dual fuel power project being put up by the newly registered Kribhco Energy Ltd (KEL).
Crisil appraises financial viability of WBPDCL, WBSEB
CREDIT Rating and Information Services India Ltd (Crisil) is evaluating the financial viability of two State-controlled power agencies -- West Bengal Power Development Corporation Ltd (WBPDCL) and West Bengal State Electricity Board (WBSEB).
IOC plans to double Savli power plant capacity
INDIAN Oil Corporation Ltd plans to double the capacity of its proposed 500 MW power plant at Savli in Gujarat.
States
Chennai Trade Centre to be opened in Jan
THE Chennai Trade Centre, a permanent exhibition centre coming up at Nandambakkam on the outskirts of Chennai, is expected to be inaugurated on January 31, 2001, coinciding with the annual leather fair.
Stocks
Bull charge at cement counter
THE bullish sentiment in the cement sector pushed up the share prices of many cement companies on the bourses even as major stock indices fell today. Cement stocks rose as many companies resorted to a substantial product price hike over the last few week
s. But the analysts have a word of caution, as the trend may not last too long.
Bank stocks turn lukewarm
THE euphoria of the latest bank merger appears to be wearing off. Bank stocks, which had been climbing all week, already seem to be running out of steam generated by the merger of Bank of Madura with ICICI Bank. Talk that many other old private sector ba
nks were sitting ducks for prowling predators too had fuelled interest in bank scrips.
NSE.IT launches WAP-enabled trading
NSE.IT today launched WAP-enabled stock trading for the first time in the country.
Telecommunications
Postal staff strike declared illegal
THE ten-day-old strike by employees of the Postal department has been declared illegal by the Government. The postal federations have been on indefinite strike since December 5.
Sterlite Optical setting up plant in India -- Shifting headquarters to US
IN a two-pronged move to grow its international presence, Sterlite Optical Technologies Ltd (SOTL) announced today that it is setting up a greenfield 10-million km optical fibre plant in India and shifting its headquarters to the US.
Sterlite mulls acquisition in US, Europe
STERLITE Industries (India) Ltd is considering acquisition of primary copper capacities in the US and Europe as a means to maintain 50-60 per cent growth in its copper business, Mr Anil Agarwal, Chairman of the Sterlite group, said.
GAIL, PowerGrid sign MoU to hire out bandwidth
GAS Authority of India Ltd (GAIL) and Power Grid Corporation of India (PowerGrid) have signed a memorandum of understanding (MoU) for leasing out bandwidth capacity of their combined telecom network to various telecom operators.
Textiles
TN weavers worried over fall in demand for grey fabrics
THE uptrend in cotton and cotton yarn prices on the one-hand and the slowing down in demand for grey fabrics at the other have put the weavers in Tamil Nadu in a tight spot.
`Good response to TUF scheme'
THE Union Textile Minister, Mr Kashiram Rana, has said the Technology Upgradation Fund (TUF) scheme launched in 1999 is benefiting a large number of powerlooms in the country.
