Agriculture
Wheat quota shipment date extended to Aug 31
IN yet another sop to wheat exporters, the Commerce Ministry has further extended the last date for shipment of the 2000-01 export quota up to August 31. This is over and above the earlier extended deadlines of May 31 and June 30 granted to exporters to
physically ship the 50 lakh tonnes wheat export quota allocated for 2000-01.
Airlines
ICAO moves to curb `air rage'
THE International Civil Aviation Organisation (ICAO) is deliberating on various mechanisms aimed at combating the problem of unruly passenger behaviour on board civil aircraft.
Appointment of Gogoi as AI MD cleared
THE Appointment Committee of the Cabinet has approved the appointment of Mr J.N. Gogoi, as Managing Director of Air India (AI) for a period of three months from May 25, 2001.
Shareholder pact for AI sale finalised
THE Cabinet Committee on Disinvestment today approved the shareholders agreement and the share purchase agreement for the sale of Air India (AI).
Corporate
Indal acquiring stake in Annapurna Foils
ANNAPURNA Foils Ltd (AFL) has informed the BSE that Indian Aluminium Co Ltd (Indal) is the process of acquiring the equity stake of its existing promoters, as directed by the Appellate Authority for Industrial and Financial Reconstruction (AAIFR).
Universal Studios plans theme park in India
HOLLYWOOD has finally woken up to Bollywood. After the Bollywood inspired Moulin Rouge set the screens in the West afire, it is now the turn of the Los Angeles-based Universal Studios to set its sights on Indian soil.
Fresh bid for DD Metro slot attracts 3 cos -- Star, Sony stay away again
PRASAR Bharati's fresh invitation of bids for the prime time slots on Doordarshan Metro has attracted only three companies - Sri Adhikari Brothers, Pritish Nandy Communications (PNC) and Prachar Communications, with biggies like Star and Sony staying awa
y.
Jindal Photo plans Fujifilm plazas in 10 cities
JINDAL Photo Films Ltd (JPFL) has announced plans to launch 150 Fujifilm Picture Plazas in ten select cities starting July 2001.
Courts
Advocates welfare fund Bill in monsoon session
IN a bid to fulfill the long-felt demands of the advocates that the Centre should enact a common law on Welfare Funds, the Centre has decided to enact the Advocates Welfare Fund Act, 2001.
Economy
Dumping probe initiated on acrylic yarn from Nepal
THE Designated Authority in the Commerce Ministry has initiated anti-dumping investigation into imported acrylic yarn from Nepal in response to a petition filed by the affected domestic units.
My arrest will impact investor morale: Maran
THE Union Commerce and Industry Minister, Mr Murasoli Maran, today expressed concern over the impact of his arrest on investor morale and attracting foreign investment into the country.
Mutual Funds
UTI chief quits, Vassal in charge -- Package for exiting US-64 investors
THE Government on Wednesday set in motion a series of damage-control measures, following the US-64 fiasco by forcing the exit of the UTI Chairman, Mr P.S. Subramanyam, followed up by a directive to the UTI management to work out a scheme to provide liqui
dity to retail investors, during the six-month period when the sales and repurchase window will be closed.
Plan to revamp UTI board of trustees
THE purge in the Unit Trust of India is now expected to cover its board of trustees with a revamp planned shortly.
UTI staff taken by surprise
FOR Unit Trust of India (UTI) employees, Wednesday was not just another day at office. They were taken by surprise when, on coming to office, they came to know that their Chairman, Mr P.S. Subramanyam, had been asked to resign.
Panel to select new chairman
THE Government is expected to kick off the process of the selection of a new Chairman for the Unit Trust of India, involving a search committee.
Despite US-64 fiasco -- People continue to prefer Govt schemes
WITH the US-64 fiasco looming large over the country's financial spectrum, and a general feeling of being cheated, the common man feels that even now it is better to repose faith with the Government as far as your hard-earned money is concerned because o
thers are far worse.
Dealing room `bandh'
THE dealing room at Unit Trust of India (UTI) was completely closed today. The apparent reason: the head of the department, Mr Man Mohan Kapur, Executive Director, was not present.
What went wrong probe on cards
THE Finance Ministry is now planning to initiate a fact-finding exercise to find out what went wrong in the running of the various schemes of the UTI, especially, its flagship scheme- US 64, according to the Minister of State for Finance, Mr. Balasaheb V
ikhe Patil.
Pharmaceuticals
Nicholas Piramal, Reckitt Benckiser dissolve venture
NICHOLAS Piramal India Ltd (NPIL) and Reckitt Benckiser India Ltd (RBIL) have dissolved their joint venture company Reckitt Piramal Ltd. However, a strategic alliance will remain between the two companies.
Politics
Karunanidhi not to `politicise' arrest
THE former Tamil Nadu Chief Minister, Mr M. Karunanidhi, today said he did not wish to politicise the issue of his arrest, but wanted it to be viewed in the context of violation of human rights.
Power
TNSEB detects power theft
CHENNAI: The State Electricity Board has detected a case of power theft by a biscuit factory near Coimbatore by tampering of the power meter.
Karnataka not to guarantee for Power Fin, REC loans
TWO central public sector undertakings, the Power Finance Corporation (PFC) and the Rural Electricification Corporation (REC), have been told that future loans would not be guaranteed by the Karnataka Government.
Bengal to seek ADB funds for Sagardighi power project
THE West Bengal Government is planning to tap the Asian Development Bank (ADB) for funds for the proposed 2000 MW thermal power project at Sagardighi in Murshidabad district.
State agri Ministers to meet to discuss power-based issues
THE Union Power Ministry is convening a meeting of State Agriculture Ministers to study the pricing of electricity for farmers, installation of efficient pumpsets and to evolve a mechanism for implementing Government policies.
States
AP Govt chosen for ESRI award
HYDERABAD: The State Government has been chosen to receive a ESRI Inc, special achievement award for adopting and successfully implementing a geographical information system in the State.
Rating of Kolkata civic body bonds based on '98-99 actuals
CREDIT Analysis & Research Ltd's in-principle ``AA (SO)'' rating to Calcutta Municipal Corporation's Rs 50-crore non-convertible redeemable bond issue is based on actual CMC figures pertaining to fiscal 98-99, and not on estimates related to subsequent y
ears.
Coimbatore excise, tax collection exceed target
Revenue collections -- both Central excise and income-tax -- of the Coimbatore Commissionerate surpassed the target for the fiscal ended March 2001.
Stocks
Preventing `punching errors' -- SEBI for new checking system
REACTING sharply to `punching errors' in various stocks over the past two days, the Securities and Exchange Board of India (SEBI) today called for the immediate introduction of an order verification system by the bourses.
`Punching error' continues -- NSE deactivates two terminals
`PUNCHING errors' plaguing the market for the past three days in a row today prompted the National Stock Exchange (NSE) to deactivate the trading terminals of two of its members.
Funds flow from Ketan entities to Kolkata brokers to be probed
THE Joint Parliamentary Committee (JPC) probing the stock market scam is likely to focus on the funds flow to Kolkata brokers from Ketan Parekh entities during its interrogation scheduled to take place on July 10, according to informed sources.
Telecommunications
TRAI asks BSNL to pass on reduced rates to operators
THE Telecom Regulatory Authority of India (TRAI) today reconfirmed its earlier ruling that BSNL should make applicable its reduced tariffs on intra-circle calls to inter-network calls to ensure ``non-discrimination'' and a level playing field for cellpho
ne users.
