Airlines
Airlines baiting foreign-bound pupils
ACROSS the country, the brightest and best are packing their bags, learning to eat with fork and spoon, and reading books on Western etiquette. Like the migratory birds that come this way, once a year, the great Indian migration starts around this time o
f the year.
Air Sahara to draw up new business plan -- Fresh look at fleet route expansion
AIR Sahara (AS) proposes to draw up a new business plan which will entail a fresh look at fleet and route expansion and strategies to capture a larger portion of the domestic market at its board meeting which is scheduled to be held shortly.
Banking and Finance
Banks promise support to UTI
EIGHT large nationalised banks have assured liquidity support to Unit Trust of India (UTI) to tide over the redemption pressure on US-64.
Commodities
End-use certification for industrial-grade palm oil -- Questions remain over Customs bond
EXACTLY three months after Business Line exposed certain loopholes in the customs tariff (BL April 13, 2001) whereby a few importers have been able to get away with clearing what they describe as ``industrial grade palm oil'' and pay a low rate of duty _
35 per cent ad valorem, against 75 per cent prescribed for edible grade palm oil _ the Ministry of Finance has woken up to the realities of the situation.
Corporate
Corporate debt recast package finalised
THE Government and the Reserve Bank of India (RBI) have finalised the corporate debt restructuring (CDR) system under which a Rs 20-crore floor limit has been set for aggregate exposure of banks and financial institutions (FI) for a corporate to be enter
tained for restructuring.
Colgate Palmolive to pay special dividend
COLGATE Palmolive (India) Ltd today announced a special one-time dividend of Rs 4.75 per share.
Zee goes interactive to hog frame
TIRED of all the game shows. Go for the interactives which now are set to become a reality. Come August and Zee's brand new interactive show `Aap Jo Bole Hai To Hai, Aap Jo Bole Naa To Naa' will go on air, in a bid to give rivals Star and Sony a run for
their money.
Saregama Broadcast to set up studios, equipment
AS part of its plans to tap the business potential offered by private radio channels, Saregama Broadcast Software (SBS), a division of Saregama India, proposes to set up studios and equipment as part of the package for running the radio stations on behal
f of the clients.
Usha to offload 49 pc in Koshika to NRI
THE Usha group has decided to offload 49 per cent of its stake in Koshika Telecom to US-based NRI, Mr. Chiranjiv Kathuria, and his associates for $ 120 million.
Industry to present views on managerial remuneration today
THE Government has convened a meeting with representatives of industry on Thursday to thrash out various contentious issues on payment of managerial remuneration by companies.
`Yaadein' distribution
MUMBAI: Mukta Arts Ltd has informed BSE that it has contracted the Domestic Theatrical rights of Yaadein, with various distributors in their respective territories (except Mumbai) for a total amount of Rs 8.44 crore.
Courts
Writ against master plan for Chennai dismissed
THE Madras High Court has held that it was not possible to consult each and every one in regard to the finalisation of the master plan for Chennai; notice in the dailies and publicity through other media can only be given and one has to act as per law.
Economy
Reversing the slump
Now that the euphoria and despair -- in that order -- over the Vajpayee-Musharraf summit has died down, it's high time that the BJP-led NDA Government switched off its `diplomatic exercises' mode and got down to the more serious and immediate business of
correction of the economy.
Financial Performance
Tata Steel Q1 net falls 80 pc on slowdown
TATA Steel has ended the first quarter of 2001-2002 with an 80 per cent decline in net profit at Rs 20.80 crore as compared to Rs 101.40 crore in the year-ago period.
Foreign Trade
DGFT tells States to boost exports
MANY of the States in the country seem to be hesitating to promote exports in a major scale on the fear that they would lose income since the entire earnings on exports were not shared by the Centre with the State Governments, according to the Director-G
eneral of Foreign Trade, Mr N.L. Lakhanpal.
Health
ILO project on HIV\AIDS at workplace
IN response to the fact that 23 million workers worldwide are living with HIV\AIDS and there are 3.5 million in Asia alone, the International Labour Organisation will be launching a Code of Practice in the workplace and a special project on it in India o
n Thursday.
Hotels
Indian Hotels in talks with SIA arm for joint venture
INDIAN Hotels Company Ltd (IHCL) today informed that it is in negotiations with Singapore Airport Terminal Services Ltd (SATS) to form a new joint venture company that will handle IHCL's air catering business.
Information Technology
Maars Software merger with Mascon Global off
THE proposed merger between of the Chennai-based Maars Software International Ltd and Mascon Global Ltd has been called off.
Speed Post via Speednet
INDIA Post will soon be launching Speednet, a Web-based track and trace package for Speed Post.
Miscellaneous
David come to town
`Goli' soda, the bottled drink with a marble stopper, for long a rural favourite, is increasingly seen at Bangalore street corners holding its own against the onslaught of majors such as Cola-Cola, Pepsi. Priced at Rs 3, it is offered as an instant conco
ction of wholesome herbs such as ginger, pepper, fresh lime etc.
Mutual Funds
UTI holding in HFCL at 12.42 pc
UNIT Trust of India, as on June 30 this year, held 97,91,814 shares of Himachal Futuristic Communications Ltd (HFCL) out of the company's total issued and paid-up capital of 7,88,22,155.
PSU
Govt to earmark 6.31 pc stake for CMC staff -- Prospective partner to get only 51 pc
IN a shift from its earlier proposal, the Government is now planning to earmark 6.31 per cent of its stake in CMC Ltd to the company's employees and divest only 51 per cent to a strategic partner through the disinvestment route.
Pharmaceuticals
Clinical trial norms on cards
THE Drug Controller General of India (DCGI) is expected to come out with a set of norms to monitor clinical practices for drug research in the country.
Policy
Reforms panel for abolishing 82 posts
THE Expenditure Reforms Commission (ERC) has recommended abolition of 82 posts in four Government departments, including fertilisers, chemicals and petrochemicals, petroleum and steel, merger of the fertilisers department with that of chemicals and petro
chemicals, closure of sick PSUs under these departments and abolition of the post of Additional Secretary in the Petroleum Ministry.
Cabinet okays Mineral Bill's introduction in Parliament
THE Union Cabinet today approved the introduction of the Offshore Areas Mineral (Development and Regulation) Bill 2001 in Parliament. The Bill provides for regulation and development of mineral resources in the territorial waters, continental shelves and
exclusive economic zones of India.
Power
Dabhol files SLP in apex court
DABHOL Power Company (DPC) today filed a Special Leave Petition (SLP) in the Supreme Court challenging the jurisdiction of the Maharashtra Electricity Regulatory Commission (MERC) to resolve its dispute with the State electricity board, DPC spokesperson
has confirmed.
Are SEBs unviable or are they weighed down by social costs?
DIVERSE views were expressed by experts in the power sector at the inaugural session of a national seminar on `Draft Electricity Bill - 2000' being organised here.
Meet on power management
POWER Grid Corporation of India Ltd (PGCIL) and the Federation of Indian Chambers of Commerce and Industry (FICCI) are organising a two-day international conference on `Global participation in Indian national grid, energy management and convergence' on A
ugust 17 in Mumbai.
States
Kerala Govt announces tax concessions
THE Finance Minister, Mr K. Sankaranarayanan, has announced concessions totalling Rs 15 crore in the proposals contained in the revised Kerala Budget for 2001-2002.
Plea against extending Kudremukh mining lease
WITH exactly a week's time left for the Kudremukh Iron Ore Co's mining lease, environmentalists here have said any extension of the lease would be illegal.
Plea for international convention centre in Hyderabad
THE need for providing a convention facility in Hyderabad with the help of the private sector to attract international conferences involving thousands of delegates was stressed here at a meeting of the India Convention Promotion Bureau (ICPB) on Wednesda
y.
SSI decry TNEB directive
MADURAI: The small-scale sector here is concerned at the recent directive of the Tamil Nadu Electricity Board (TNEB) to pay an additional current consumption deposit (ACCD) before July 20.
Local body poll results an eye-opener for TDP
SIMMERING discontent seems to be brewing within the ruling Telugu Desam Party circles in Andhra Pradesh over the party's poor performance in the local body elections.
Steel
Steel Ministry closes down Hyderabad office
THE Steel Ministry has downed shutters on the Office of the Regional Development Commissioner for Iron and Steel (RDCI&S) located here with effect from July 1.
Telecommunications
Spectrum pricing -- DoT challenges jurisdiction of appellate tribunal
THE Department of Telecommunications (DoT) has challenged the jurisdiction of the Telecom Dispute Settlement Appellate Tribunal (TDSAT) on matters relating to the spectrum charges.
Fourth cell licence for VSNL -- Cell operators may move to get stay vacated
A COUPLE of private cellular operators are likely to challenge yesterday's interim order of the Bombay High Court which restrained the Government from making a final decision on the award of the fourth cellular operator licences.
