Airlines
United Air withdraws services from India
THE US carrier United Airlines, has withdrawn its operations from India following the terrorist attacks in the US, even as major international carriers reported near normalcy in operations between their home base and North America.
Ministry may seek funds for IA fleet expansion
THE Ministry of Civil Aviation is likely to approach the Finance Ministry for release of funds for the much-awaited fleet expansion plan of Indian Airlines (IA).
Thai Airways to start Mumbai-Bangkok services
THAI Airways International is to start a thrice-a-week service on the Bangkok-Mumbai-Bangkok sector from October 30.
`No plans of coming back in foreseeable future'
THE US carrier, United Airlines (UA), has no plans of coming back to India in the foreseeable future. ``We have no plans of coming back to India in the foreseeable future,'' the General Manager (India), Mr Michael J. Purchon, told Business line.
Economy
Of mango kernels and bottled water
``DID you see the expression on their faces,'' my companion asks as our car winds down the serpentine roads of the Kashipur block in Orissa.
Environment
Breather for biodiversity plan creation
THE time-period for the development of the National Biodiversity Strategy and Action Plan (NBSAP), through a participatory process, has been extended by six months till June 2002.
Food & Dairy Products
Model supply-chain for food processing formulated
THE National Task Force on Food Processing (NTFFP) has laid out a supply-chain management structure ``that combines models of corporates like Hindustan Lever Ltd (HLL) and ITC, Cola-majors like Coke and Pepsi and co-operative success stories like Amul fr
om the Gujarat Co-operative Milk Marketing Federation (GCMMF) and `Safal' from the National Dairy Development Board (NDDB).''
Foreign Trade
Dumping duty on phosphoric acid
THE Finance Ministry has imposed definitive anti-dumping duty on all imports of phosphoric acid (technical grade) from China.
Forex
Rupee rallies after a sharp dip
THE Indian currency plunged to a lifetime low of 48.43 to the dollar today, before recovering sharply to end the day at 47.82/83, as the forex market moved in tandem with the equity and bonds markets.
Hotels
Dark clouds looming over travel, hospitality sectors
THE gloom is yet to set in. The travel and hospitality industries are uncertain as the first rush of cancellations roll in. But all will depend on how this week's lead story will play itself out.
Information Technology
Software cos may consider buyback
SOFTWARE stocks in the country have plunged so low since the US World Trade Centre attack that many companies' market capitalisation has now sunk below their cash reserves, making it attractive for them to start buying back their own stock, said analysts
.
Policy
President's nod for 10 Bills
THE President, Mr K.R. Narayanan, has given his assent to 10 Bills. The Bills are -- the Indian Council of World Affairs Bill, 2001, the Repealing and Amending Bill, 2001, the Trade Unions (Amendment) Bill, 2001, the Pre-Natal Diagnostic Techniques (Regu
lation and Prevention of Misuse) Amendment Bill, 2001, the Influx from Pakistan (Control) Repealing (Repeal) Bill, 2001, the Indian Medical Council (Amendment) Bill, 2001, the Sugarcane Cess (Validation) Repeal Bill, 2001, the Indian Universities Repeal
Bill, 2001, the Auroville (Emergency Provisions) Repeal Bill, 2001 and the Government of Union Territories and the Government of National Capital Territory of Delhi (Amendment) Bill, 2001.
Power
Dabhol issues 2 preliminary termination notices to MSEB
DABHOL Power Company today confirmed that it has issued two new Preliminary Termination Notices (PTNs) to the Maharashtra State Electricity Board (MSEB).
`Unpaid' bills: DPC invokes sovereign guarantees
DABHOL Power Company has invoked Government of India counter-guarantees for the April, May and June 2001 bills totaling Rs 381 crore.
SSI
New SSI policy on the anvil
A GROUP of Ministers is studying a report on evolving a new policy covering the tiny, medium and small-scale industries and a formal policy decision is expected by December.
States
Poignant images
Karuna Mother Theresa Home children carrying placards on a peace march in Bangalore on Monday for children whose parents were killed in the US attack.
Lab in AP to conserve endangered species
The Centre for Cellular and Molecular Biology (CCMB), located at Hyderabad is setting up LaCONES -- a Laboratory for Conservation of Endangered Species at Attapur near the Nehru Zoological Park, Hyderabad, in partnership with the Department of Environme
nt and Forests, Andhra Pradesh and the Nehru Zoo.
Stocks
Sensex falls into deep trench
STOCK prices, across the board, dropped like nine pins today apparently ``completing the full eight-year circle'' pushing down the benchmark indices to near eight-year low. The mayhem was attributed to largescale selling by the foreign institutional inve
stors (FIIs) which were seen repatriating funds expecting uncertainty on how the USA markets would behave after they reopened on Monday.
Rs 20-cr penalty mooted for market offences
THE Government has proposed a hefty penalty of over Rs 20 crore or three times the amount involved in the offence committed in capital market offences, as part of the proposed changes to the SEBI Act.
`Steps on equity meltdown may not show results now'
THE measures being proposed by the Government to stem the meltdown in the equity markets might give respite but only in the long-term, say analysts and dealers.
SEBI-RBI panel meet today
THE SEBI-RBI standing technical committee will meet in Mumbai tomorrow to discuss introduction of margin trading in the Indian stock market and the guidelines for it.
`SEBI has no objection to CSE, BSE merger'
THE Securities and Exchange Board of India (SEBI) has no objection to the proposal for a merger of the Calcutta Stock Exchange (CSE) with the Bombay Stock Exchange (BSE).
SEBI sets risk norms for individual stock futures
THE SEBI advisory group on derivatives on Monday put out strict risk containment measures for introduction of individual stock futures which included cap on trading members and clients level positions.
Taxation
Kargil-type surcharge being contemplated
THE Government is looking at the option of a Kargil-type surcharge as part of the contingency plan to counter the impact on the economy arising out of a possible US retaliation on terrorists.
Terrorism
Most Americans watched TV for WTC news: Study
THE horror of it all is still etched in the mind - the image of the toppling tower, the image of the crashing tower, the image of the rubble, rubble as high as a ten storey building, people running away from the crashing tower in the streets of Manhattan
, silent people holding up photographs of their loved ones - and all of these were reinforced by television with images of the second airplane crashing into the tower from different angles shot by professionals, amateurs and tourists. Video dominated the
reporting of the attack more than anything else - not newspaper photographs or reports, not radio or television reporting or commentary.
Villain of world peace
Activists of the Indian National Sikh Youth Forum burning a cut out of Osama bin Laden, in the Capital on Monday, protesting against terrorist attacks on the World Trade Centre and Pentagon.
Textiles
Export quota for garment categories not fully used
EXPORT entitlements for several garment categories including a few popular knitwear items meant for Europe and the US markets have gone abegging in the FCFS (first-come-first-served) quota that was opened for allocation last week by the Apparel Export Pr
omotion Council (AEPC).
