Airlines
Airbus, HAL in talks for A-380 project
THE Toulouse-based aircraft major Airbus Industrie has carried out a survey of the facilities of Hindustan Aeronautics Ltd (HAL) for its participation in the making of the double-decker Airbus A-380 aircraft.
Banking and Finance
Union Bank of India draws expansion plan
GUWAHATI: The Union Bank of India, with its 43 branches in Assam, has advanced more than 50 per cent of its total deposits up to July 20 this year. Yet the bank cannot take pride in its activities as about Rs 33 crore of its deposits are still unrecovere
d.
DCA tightens screws on nidhis -- No to leasing finance; stricter operational norms soon
IN an effort to further regulate the functioning of nidhis or mutual benefit societies (MBS), the Department of Company Affairs (DCA) is set to stipulate that a company declared as a nidhi or MBS cannot henceforth carry on the business of leasing finance
.
Cement
Bid to expand Bokajan cement unit
GUWAHATI: The State Chief Minister, Mr Tarun Gogoi, met the Union Minister for Heavy Industries in New Delhi and requested him to make the Bokajan Cement Factory in Karbi Anglong district a full-fledged unit under the Union Ministry. The company since it
s inception in 1979 has been producing cement and earning profits.
Corporate
Zee promoters buy back media stocks at cost
THE promoters of Zee Telefilms Ltd (ZTL) have bought back the media stocks, parked earlier with the company, ``at cost'' to bring back Rs 50 crore to ZTL.
Economy
Money laundering Bill may be drafted afresh
THE Government is looking at the option of withdrawing the Prevention of Money Laundering Bill (PMLB) which is pending passage before Parliament, and drafting the entire legislation afresh, following reservations expressed by the Finance Ministry on some
of the crucial recommendations made by the Select Committee.
Call for steps to compete with China
INDUSTRY technology, sectors of mass manufacturing and the IPR-based industry will come under serious pressure with China joining the WTO this November, the Secretary, Economic Affairs Department, All-India Congress Committee, Mr Jairam Ramesh, has said.
`Indian entities' exposure to global capital market down'
INDIAN entities -- comprising banks, public sector and non-bank private sector -- had a reduced exposure in the international capital market during the first quarter of the calendar year.
Fertilisers
Central support sought for fertiliser project
NEW DELHI: The Tripura Government has sought Central support for early setting up a gas-based urea-ammonia project in the State at an estimated cost of Rs 1494 crore to meet the growing fertiliser demand.
Insurance
Srini Raju is MetLife ally -- `Ramalinga Raju not involved'
WITH reference to the report on MetLife insurance published in Business Line on July 29 quoting Mr N. Rangachary, Chairman, Insurance Regulatory and Development Authority (IRDA), Mr Venkatesh Mysore, Managing Director, MetLife India Insurance Co Ltd, cl
arifies that it is Mr Srini Raju, promoter of i-Labs who is picking up a stake in the insurance venture and not Mr Ramalinga Raju of the Hyderabad-based Satyam group as mentioned.
Mutual Funds
Govt under pressure from BJP on UTI issue
THE Government has come under pressure from within its own party ranks on the controversy surrounding the Unit Trust of India.
Petrochemicals
SPIC to abolish Group Corporate Planning unit
SOUTHERN Petrochemical Industries Corporation (SPIC) has decided to do away with its Group Corporate Planning division. In an internal circular, it is said the employees of the division would be absorbed elsewhere in the company.
Petroleum
HPCL defers decision on MRPL stake
THE Hindustan Petroleum Corporation Ltd's (HPCL) board today deferred a decision on its board proposal to buy out the AV Birla group's 37 per cent stake in Mangalore Refineries and Petrochemicals Ltd (MRPL).
Marginal rise in June petro products sales
SALES of petroleum products have shown a marginal improvement of 0.7 per cent in June 2001 against 0.6 per cent negative growth in the same month of the previous year.
Policy
Focus on FII sub-accounts, OCBs
IN April, the Securities and Exchange Board of India (SEBI) released the preliminary investigation report on market manipulation in several scrips, in the run-up to the Budget and spread over the next few days.
Power
KPCL proposes to upgrade Vijayanagar power project
THE State Government-owned utility Karnataka Power Corporation Ltd. (KPCL) has proposed upgrading the planned Vijaynagar power project into a 1000 MW station.
States
Quake-hit Gujarat villagers set a model -- Relocation without dislocation
THE villagers of Moti Chirayi near Bachhao are quite unlike most in the quake-ravaged Kutch district. Six months after the quake, they have decided against awaiting the Gujarat Government intervention in identifying land for relocation.
Affidavit filed in SC for KIOCL mining lease
IN A further twist to the KIOCL issue, the Centre has expressed to the Supreme Court that it is considering a conditional, mining lease for a maximum of five years for the central PSU. This would be confined to the existing broken up areas.
Code of conduct for real estate developers
THE Confederation of Real Estate Developers Association of India (Credai) has released a `self-imposed' code of conduct to be adopted by its members to establish transparency and fair dealing between developers, promoters and builders with their customer
s.
Satellite centre at Kinfra park
THE National Institute of Design, Ahmedabad, has opened a satellite centre at the Kinfra Export Promotion Industrial Park at Kochi to provide valuable inputs required for the growth of industries in Kerala.
`AP committed to abolish child labour'
THE Andhra Pradesh Government is committed to the abolition of child labour in four years and has sought partnership with the industry in the development efforts in a big way, said the Chief Minister, Mr N. Chandrababu Naidu, here.
Drive to settle power theft cases
HYDERABAD: Mr Justice B. Subhashan Reddy, Chairman of the Andhra Pradesh State Legal Authority, has asked the Transmission Corporation of Andhra Pradesh to take the initiative and settle 2,169 cases relating to theft of energy pending in various courts t
hrough Bijilee Adalats.
Stocks
Volumes squeeze, wary brokers haunt BSE board
THE governing board of the Bombay Stock Exchange (BSE) has asked the exchange administration to examine the bourse's financial viability. The exchange is worried over the decline in business volume resulting in lower income in the current year.
2 BSE nominees quit CDSL board
TWO BSE nominees, Ms Deena Mehta and Mr Bhagirath Merchant, have resigned mid-July from the board of directors of the Central Depository Services (India) Ltd (CDSL), a subsidiary sponsored by the Bombay Stock Exchange (BSE). The resignations follow the s
how-cause notice issued by the markets regulator on June 12.
Brokers plan SE-level forums, central union
THE stock broking community is chalking out a master plan to have a unified voice in the functioning of the capital market following demutualisation of the stock exchanges where they will be ripped of all powers in the day-to-day management of the exchan
ges.
Sugar
Maharashtra sugar co-op units bracing for futures trading
THE co-operative sugar industry is slowly gearing itself to a new reality-- the inevitability of futures trading.
Taxation
I-T Forms 13, 15 AA amended
THE Central Government has notified the amendment of Forms 13 and 15 AA of the Income Tax Rules 1962 for obtaining a certificate for deduction at a lower rate under Section 197 of the Income Tax Act 1961.
Telecommunications
More sales tax sops for telecom sector on cards
AFTER a slew of budgetary sops, telecom service providers in the public and private sectors are set to be accorded yet another concession aimed at bringing down costs of goods procured by them in the course of inter-State trade.
Equity structure among JV partners -- RailTel to seek advice of investment bank
RAILTEL Corporation has decided to appoint an investment bank to recommend the equity distribution structure amongst proposed joint venture partners. The move follows indications given by both BSNL and MTNL that they would be interested in a tie-up only
if offered a minimum 26 per cent equity stake in the venture.
