Airlines
IA cuts fares on select routes
INDIAN Airlines (IA) has revised downwards its fares on Mumbai-Chennai, Goa-Mumbai, Mumbai-Kolkata, Mumbai-Bangalore and Ahmedabad-Bangalore sector from June 28.
AI looks forward to `healthy growth'
AIR India is progressively introducing 11 additional flights from Gulf stations to various Indian destinations and the total departures from Gulf points would increase from 84 to 96 flights per week by mid-July, according to a senior airline official.
Banking and Finance
Kamath cites squeeze on ICICI spreads
THE ICICI Managing Director and CEO, Mr K.V. Kamath, today said that it is difficult to maintain high profitability in the current economic conditions.
Cement
Cement industry sees 7-8 pc growth rate
THE cement industry is expected to grow at a rate of seven to eight per cent during the current financial year, according to the Cement Manufacturers Association (CMA).
Chemicals
Dumping duty on caffeine, theophylline recommended
THE Designated Authority in the Commerce Ministry has recommended imposition of definitive anti-dumping duty on imported theophylline and caffeine from the 15-member European Union.
Corporate
Batata-BPL `close' to finalising merger deal
Birla-AT&T-Tata Cellular (BATATA) and BPL are close to finalising a mega merger deal in an effort to create the largest cellular entity in the country, with a total subscriber base of over 18 lakhs.
B.K Modi denies talks with Chatterjee
DR B.K. Modi, one of the promoters of Modi Rubber Ltd, on Tuesday said he had not opened up talks with either Mr Purnendu Chatterjee of the George Soros Group or any other investor in the battle for gaining control in the tyre company.
Shell group backs out of Nocil deal
SHELL group has backed out from the deal to pick up majority stake in the Mafatlal group firm National Organic Chemical Industries Ltd (Nocil), jeopardising the company's restructuring plan.
Global shoe fair opens tomorrow
OVER 150 exhibitors from across the country and abroad would display their wares at the Ninth Delhi International Shoe Fair being held here from June 28 to July 1.
1:4 rights from Sun Earth Ceramics
SUN Earth Ceramics has announced a rights issue in the ratio of one share for every four shares held.
DCA panel to deal with sexual harassment cases
NOW it is the Department of Company Affairs' (DCA) turn to be conscious of the problems faced by its women employees.
BIS expects water licences at 130
JUST days before the Health Ministry's extended deadline for packaged water cans to sport ISI labels runs out by June-end, the Bureau of Indian Standards (BIS) said it expects to clock about 130-odd licences in this category.
Courts
Lankan Minister seeks cooperation in courts computerisation
THE Sri Lankan Minister of Justice, Mr Batty Weerakoon, sought the cooperation of the Indian Government for computerisation of their courts.
Economy
CII urges Pak to accord MFN status to India
THE Confederation of Indian Industry (CII) has urged Pakistan to accord the Most Favoured Nation (MFN) status to India and reciprocate India's gesture of granting MFN status to Pakistan.
Financial Performance
Essar Steel net loss down at Rs 345.91 cr
ESSAR Steel Ltd has ended with a net loss of Rs 345.91 crores for the year ended March 31, 2001, as against a net loss of Rs 581.24 crores in the earlier year.
India Cements net up at Rs 48.15 cr
INDIA Cements Ltd has registered an increase in both income from operations and net profit in 2000-01 over the previous year.
Health
Anti-drugs day in Kolkata
Children demonstrating the end result of taking drugs by wearing skull masks on the `Anti-Drugs Day' in Kolkata on Tuesday
Information Technology
L&T-JTC team bids for phase-2 of Tidel Park
LARSEN & Toubro and JTC of Singapore have proposed to the Tamil Nadu Government that they will jointly execute the second phase of the Tidel software park here rather than the Government itself putting it up.
PSU
Rs 116-cr recast package for inland transportation
THE Union Cabinet has approved a Rs 116.22-crore package of reorganisation for the Central Inland Water Transport Corporation (CIWTC), Kolkata. The four-year package will provide budgetary support in the initial two years.
Policy
Cabinet clears Competition Bill
THE much-awaited Competition Bill was okayed by the Union Cabinet today.
Cabinet Secy tenure may be extended
THE extension of tenure of the Cabinet Secretary, Mr T.R. Prasad, by another two years is imminent with the Union Cabinet approving the amendment of the appropriate rules to allow the same.
Power
HC rejects DPC writ on MERC's jurisdiction
THE Mumbai High Court has dismissed DPC's writ petition challenging the Maharashtra Electricity Regulatory Commission's (MERC) jurisdiction over its dispute with MSEB.
SEB dues: Meet narrows down issues
SEVERAL State Chief Ministers and Power Ministers have narrowed down the outstanding issues on the prescription offered by the Expert Committee report on one-time settlement of State electricity board dues to the Central power sector undertakings (CPSUs)
.
KPCL against sharing revenue from sale to HT customers
KARNATAKA Power Corporation Ltd (KPCL) has opposed sharing of revenues with another utility in the State for direct sales to High Tension (HT) customers.
Ministry accepts Eastern States' stance on Tala power
THE Union Power Ministry has finally accepted the position held by the eastern region on allocation of power to be generated by the Tala hydro electric project in Bhutan.
Decision to pull out of Tala project -- Britain tells India it can do little to influence NGC
THE British Government has turned down the Indian Government's request to intervene and persuade National Grid Company Plc (NGC) against pulling out of the race for the Rs 1,200-crore Tala transmission project.
States
TN Chamber plea to Madurai Corporation
THE Tamil Nadu Chamber of Commerce and Industry has appealed to the Madurai Corporation not to go ahead with its proposal to clamp a blanket ban on sale and use of `one time use' plastic materials in Madurai.
Stocks
Fun time for media shares
MEDIA and entertainment stocks are in the limelight once again on the bourses with volumes and share prices of companies such as Mukta Arts, Balaji Telefilms, Crest Communications and Tips Industries have been rising steadily over the last 4-5 weeks.
Sugar
AP's bid to privatise co-op sugar mills raws good response
KAKATIYA Cement, Sugar and Industries Ltd, Gokak Sugars Ltd, Rajashree Sugars, Madhav Sugartech, Delta Paper Mills, Indira Sugars and Sujala Pipes are among over 20 companies which have evinced interest in the privatisation process of four more co-operat
ive sugar mills in Andhra Pradesh.
Sugar mills in Maharashtra flays monthly release policy
SUGAR mills in Maharashtra are up in arms against the Centre's existing monthly release policy, which they allege is `arbitrary' and unduly favours the factories in North.
Telecommunications
DoT seeks vacation of HC order on limited mobility
THE Government has appealed to the Chennai High Court seeking a vacation of its order to maintain status quo on the issue of limited mobility. This was disclosed by the Union Minister for Communications, Mr Ram Vilas Paswan.
Textiles
Garment exporters: Hard to keep their shirts on
HOW does it matter to Shanmugavelu in Ambattur that John Smith in downtown Washington is not buying himself some new clothes this summer?
Privatisation of AP coop spinning mills -- HC directs bidders to pay up 25 pc sale proceed
FOLLOWING an Andhra Pradesh High Court directive which has given a go ahead for the sale of the cooperative spinning mills, the Public Enterprises Department has now asked the three chosen bidders to pay up 25 per cent of the sale proceed.
PDEXCIL seeks Govt intervention to end weavers strike
THE Powerloom Development and Export Promotion Council (PDEXCIL) has called upon the Centre and the Tamil Nadu Government to come forward to solve the problems of the powerloom weavers who have stopped working for the last one week in major weaving centr
es in western part of the State.
