Airlines
IA goes all out to make Clinton's travel memorable
INDIAN Airlines (IA) is putting its best foot forward to make the former US President, Mr Bill Clinton's travel within the country a ``memorable experience''.
IA divestment process in crucial phase
THE disinvestment process of Government equity in Indian Airlines enters the crucial stage shortly with at least one of the two known bidders conducting due diligence being asked to complete the process by mid-May.
Automobiles
Visteon to cut 1,800 jobs
VISTEON Corp, the second-largest US automotive supplier, has said it was cutting 1,800 jobs, or 2 per cent of its workforce, as part of a plan to slash costs.
Banking and Finance
IBA seeks restoration of TDS limit on time deposits
THE Indian Banks' Association (IBA) has written to the Ministry of Finance seeking a reversal of the decision to reduce the limit for tax deducted at source (TDS) on interest income from time deposits with banks to Rs 2,500 from the earlier level of Rs 1
0,000.
Cement
Decline in cement output by large units
CEMENT production by large units in the country declined by 0.81 per cent during April-March 2001 to touch 93.45 million tonnes (m.t) as against 94.21 m.t in the same period during the previous year.
Commodities
Coffee auction price levels remain unchanged
PRICE levels at Thursday's Indian Coffee Traders Association (ICTA) auctions remained unchanged since last week. Exporters covered quantities for immediate requirements while domestic traders were inactive. On the whole, there was a slack in demand and a
poor turnout of buyers.
Corporate
Mind Joggers -- the new card game
WhNT to help your employees sharpen their professional skills in the office, on the shop-floor or at a workshop? Mumbai's Continuing Education & Training Centre (CETC) has launched an interesting tool that makes the task that much easier and can be used
effectively even for on-the-job training.
Bharti Enterprises merges 4 group cos -- Picks up BT stake
BHARTI Enterprises has announced the merger of four of its companies - Bharti BT Internet Ltd., Bharti BT V-SAT, Bharti Broadband Services and their holding company Bharti Telespatiale Ltd. - into a single company, to be christened Bharti Broadband Net
works Ltd.
Economy
`Mauritius tops FDI list'
MAURITIUS with a mere 32 projects pushed the US to second place in foreign direct investment (FDI) despite the latter's 110 projects, a study said.
Foreign Trade
`Increasing transaction cost may dent exporters' profitability'
MARKETING is the key to achieve $ 75 billion exports by 2004-05, but one has to watch the transaction cost element closely, according to Mr D. Chakrabarti, Development Commissioner for Falta EPZ.
India, Iran to sign new trade pact during PM's visit -- Exim Bank moots $20-m line of credit
INDIA and Iran will sign a new trade agreement during the Prime Minister, Mr Atal Bihari Vajpayee's visit to Iran next week. The Minister of State for Commerce and Industry, Mr Omar Abdullah, will sign the new trade treaty which aims to push up exports t
o Iran and restructure imports from Iran.
Information Technology
Pointers to IT spending in US
FIRST, the good news: A Morgan Stanley Dean Witter survey of Chief Information Officers (CIOs) in the US has revealed 56 per cent of the CIOs have not yet re-evaluated their IT budget or spending plans within the last month in view of the slowdown and th
e stock market decline.
Rajiv Kaul takes over at Microsoft India
MICROSOFT India has announced the appointment of Mr Rajiv Kaul as Managing Director of the company in place of Mr Sanjay Mirchandani, who has now assumed charge as the Regional Director -- South Asia Region of Microsoft Corp.
Power
NHPC plea on Delhi Vidyut dues
THE National Hydroelectric Power Corporation (NHPC) has asked the Centre to include Delhi Vidyut Board in the list of States from which recovery of outstanding dues is to be made through Central Plan Appropriation (CPA).
MSEB, State differ on subsidy allocation
THE Maharashtra State Electricity Board (MSEB) has asked the State Government for Rs 1,400 crore to make up for subsidy allocation. The amount includes Rs 999 crore compensation for ``loss of liquidity''.
States
Drive to check misuse of used plastics
HYDERABAD: To comply with the Government order banning use of coloured and recycled plastic carrybags for packing foodstuffs, the AP Plastic Manufacturers Association (APPMA) has taken proactive steps such as organising awareness programmes in schools ab
out the hazards of using such plastic material and donating bins for dumping waste plastic bags, bottles and cups.
Action against 25 erring LPG dealers
NEW DELHI: The Government is set to take action against 25 Liquid Petroleum Gas (LPG) distributors in the Capital, which have been found to be run by unauthorised persons in violation of the norms laid down in this regard.
Rs 51 lakh from ICAI for quake victims
NEW DELHI: The Institute of Chartered Accountants of India (ICAI) has presented a cheque of Rs 51 lakh to the Prime Minister, Mr Atal Bihari Vajpayee, as its contribution to the Prime Minister's Relief Fund for rehabilitation of earthquake victims in Guj
arat. -- Our Bureau
Waive excise duty on diesel: Fishermen
MANGALORE: Fishermen's organisations in coastal Karnataka have said that they would have to resort to an indefinite strike if the Centre did not completely waive the Rs 2.64 excise duty on diesel and increase the quota of subsidised kerosene for fisherme
n. The current subsidy in terms of central excise works out to a meagre 35 paise.
Single window system for tourism projects
NEW DELHI: The State, making a strategic comeback on the tourism map, will soon be introducing hassle-free land bank and single window service system for fast-track tourism projects to woo investors to invest in the State tourism industry.
What do you think should be done, Clinton asks NGOs
THE second leg of the former US President, Mr Bill Clinton's visit to Gujarat kept up a frenetic pace on a day which saw some nine non-governmental organisations (NGOs) hold intense parleys with Mr Clinton.
Event planned in San Jose to promote Mumbai, Pune
AN international roadshow named Vision Maharashtra @ San Jose to promote Maharashtra will be held at the Hyatt, San Jose, California, on April 12, 13 and 14.
Stocks
SEBI debars Ketan firms
THE Securities & Exchange Board of India today debarred four stockbroking firms, controlled by Mr Ketan Parekh who is accused in the Bank of India (BoI) pay-order case and now in CBI custody, from undertaking fresh business as a stock broker and merchant
banker till further orders.
Rigging in 5 other company scrips
The Securities & Exchange Board of India (SEBI) has found evidence of price rigging by Mr Ketan Parekh in five companies other than Global Trust Bank.
HC to hear SEBI rejoinder on April 10
THE Bombay High Court is to hear the Securities and Exchange Board of India's (SEBI) rejoinder to the Anand Rathi case on April 10.
CSE to hasten guarantee fund replenishment
THE Calcutta Stock Exchange has initiated moves for quick replenishment of its Settlement Guarantee Fund (SGF). Mr Tapas Dutta, Executive Director of CSE, told Business Line that the payment crisis in three settlements last month had made a net dent of R
s 48 crore.
Investors forum files plaint against GTB
THE Investors Grievances Forum (IGF) on Thursday filed a complaint of insider trading and price rigging against the directors and officials of Global Trust Bank (GTB) with the Economic Offences Wing of the Mumbai Police.
Taxation
ICAI note on assessing scrip market values
THE Institute of Chartered Accountants of India (ICAI), in its recently-published guidance note on audit of banks, has listed four ways to determine the market value of a quoted security.
Service tax assessment criteria to be reviewed
A WHOLE range of issues on service tax - including the criteria and methodology for clamping such a levy - may come up for review following the recent recommendations made by the high level committee on service tax after scrutiny of the Budget proposals
for 2001-02.
Tea
Study on Indian tea's competitiveness on cards
A STUDY on the competitiveness of Indian tea is to be commissioned in a few weeks by the Tea Board at the instance of the Department of Commerce (DoC) in the Union Commerce and Industry Ministry. An established consultancy firm is to be mandated by the T
ea Board to undertake the study.
Telecommunications
BSNL to decide on tech for cell service soon
BHARAT Sanchar Nigam Ltd (BSNL) will decide in the next two months as to whether to stick to the C-DoT (Centre for the Development of Telematics) technology or opt foreign technology for its proposed commercial cellular telephone services.
Spectrum auctioning for basic services ruled out
THE Government has ruled out spectrum `auctioning' for basic telecom services as demanded by a section of the industry.
Textiles
TN textile unions hopeful of wage accord
With the State Labour Commissioner convening a conciliatory meeting on Friday to discuss the issue of textile workers' wage revision, major workmen's unions are expecting an early settlement.
Garment industry proposes 1 pc `textile panel cess'
THE garment industry has proposed a one per cent `Textile Committee Cess' as an alternative to the 16 per cent excise duty that was levied on the industry in the Budget.
More garment varieties to be freed of quotas
THE third stage integration under the agreement on textiles and clothing (ATC) scheduled for the year 2002 will release more garment categories presently under quota restraint into quota-free items with effect from January 1, 2002.
