Airlines
Airbus, Boeing ready to meet IA's re-bid deadline
DESPITE not having received the official letter from Indian Airlines asking for revised financial bids, the two major aircraft manufacturers - Airbus and Boeing - have expressed confidence of meeting the December 21 deadline.
Automobiles
Maruti may hike prices by 3 pc
MARUTI Udyog Ltd is raising car prices, most likely from January 2002, citing increase in its input costs, highly placed company sources said on Thursday.
Cigarettes
Keep cigarettes out of VAT, says TII
THE Tobacco Institute of India (TII) has sought a hike in basic customs duty on cigarettes to 150 per cent, retention of specific excise duty, withdrawal of the 15 per cent excise surcharge and exclusion of cigarettes from the proposed value-added tax re
gime.
Panel moots high import duty on cigarettes
A PARLIAMENTARY Standing Committee has recommended that the import duty on cigarettes be raised to the maximum admissible level of 150 per cent at the WTO-bound rate to discourage its use and also to prevent the country from becoming a dumping ground of
foreign cigarettes.
Corporate
Arvind Mills unveils American strategic initiative
ARVIND Mills Ltd (AML) has announced its new strategic initiative to vertically integrate its textile business in North and South America by offering the full portfolio ranging from fabric to garments.
Nestle set to make ice-cream splash
NESTLE India Ltd's much-awaited foray into the domestic ice-cream market may be getting closer to taking final shape.
Dr Morepen acquires `Burnol' for Rs 8.9 cr
MOREPEN Laboratories has acquired the `Burnol' brand through its fully owned subsidiary Dr Morepen, from Reckitt Piramal Ltd, for a consideration of Rs 8.95 crore.
CII summit to focus on industry morale
CII's flagship Partnership Summit 2002, a three-day event that begins on January 10 here, will focus on building industry morale during globally uncertain times.
SWC moves CLB to shift office
SHAW Wallace Co Ltd (SWC) has filed an application before the Company Law Board (CLB) seeking permission to transfer its registered office from Wallace House, 4 Bankshal Street, Kolkata-1 to Mumbai.
Lodha is new FICCI chief
THE Federation of Indian Chambers of Commerce and Industry (FICCI) on Thursday ushered in a new team for the year 2001-02, with Mr Rajendra S. Lodha, Senior Partner of accounting and consulting firm, Lodha & Co, as the President.
Gucci `no' to Indian leather
THE Gucci group has decided to avoid `any future contact with the Indian leather industry'' until the abuse of animals is stopped.
Economy
Mauritius to work with SEBI, RBI to check fund misuse
IN an apparent bid to avoid friction with Indian regulators and protect its interest as an offshore investment `base', the Mauritius Government on Thursday promised increased transparency about entities based in that country.
Plea to ease curbs on PF investments
THE Employees Provident Fund Organisation (EPFO) has approached the Ministry of Finance for relaxation of prescribed investment guidelines so that it enjoys greater flexibility in investment operations. The fund is keen on maximising returns for its memb
ers.
Striving for a world without slums
FORMING coalition against terrorism or for development being the name of the game post-September 11 and post-Doha of WTO, there is an alliance that predates these coalitions - essentially for ameliorating the lot of the disadvantaged slum population a
cross the developing world.
`Govt taking steps for speedy justice system'
THE Union Minister for Law, Justice and Company Affairs, Mr Arun Jaitley, has said that several steps are afoot to put in place corrective measures for an expeditious judicial delivery system.
Foreign Trade
Maran for revival of NZ aid programme
THE Union Commerce and Industry Minister, Mr Murasoli Maran, on Thursday urged the visiting New Zealand Commerce Minister, Mr Paul Swain, to restore the special aid ENZA programme, which has been under implementation since 1997 for the development of the
apple industry in Himachal Pradesh.
Hotels
Hotel Ashok VRS to follow Gujarat model
THE Lalit-Suri promoted Bharat Hotels Ltd will have to model its voluntary retirement scheme (VRS) for the employees of Hotel Ashok, Bangalore on the Gujarat pattern.
No New Year cheer for hotel industry
THE New Year holidays may not bring the much-required breather for the Indian hotel industry, which is still reeling under the impact of `black Tuesday'.
Information Technology
Comprehensive strategy for IT in 10th Plan: PM
THE Prime Minister, Mr Atal Bihari Vajpayee, on Thursday said the Government would implement a comprehensive strategy for hardware, and software in the 10th Five-Year Plan beginning next year.
Infrastructure
Sops sought for Intl. airport in AP
THE Andhra Pradesh Government and the GMR Vasavi-Malaysia Airport Holdings Berhard (MAHB) consortium, the chosen developers of the greenfield Hyderabad international airport project, are awaiting the Central Government nod for certain concessions to go a
head with the project.
Management
AIMA-ICFAI business meet
THE All-India Management Association (AIMA) proposes to organise the fifth Directors' Conclave in Hyderabad on December 11 in collaboration with the Institute of Chartered Financial Analysts of India (ICFAI).
Power
Enron sacks India staff
ENRON today confirmed that it is retrenching all remaining employees of the Dabhol Power Co as well as of Enron India Pvt Ltd. Altogether, Enron employs about 200 personnel in India.
Focus on renewable energy sources, says Prabhu
THE Union Power Minister, Mr Suresh Prabhu, on Thursday stressed the need to shift from the current energy mix and develop alternate renewable energy sources.
IOC to review investments in 3 projects
INDIAN Oil Corporation Ltd is reviewing investments in three major projects including its Paradip, Panipat and Koyali refineries because of shrinking margins in a dull refining market.
`PowerGrid projects ahead of time'
POWER Grid Corporation of India Ltd (PGCIL) is implementing all of its transmission projects ahead of schedule, according to the Chairman and Managing Director, Mr R.P. Singh.
States
Customs agents' body flays CCTL tariff
THE Chennai Customs House Agents' Association has alleged that neither they nor other associations connected with the shipping trade were consulted by the Chennai Container Terminal Ltd (CCTL) while adopting the procedures and fixing the tariff concernin
g the Chennai port's container terminal.
Kerala plans four Chinese model industrial development zones
ESTABLISHMENT of four Chinese model``industrial development zones''(IDZs) in various parts of the State is one of the major initiatives envisaged in the new industrial policy of the Kerala Government.
Taxation
Corporate tax collections down 5.4 pc in Apr-Nov
THE Centre's direct tax collections grew by around nine per cent during the first eight months of the current fiscal to touch Rs 44,009 crore as against Rs 40,412 crore in the same period last year.
Telecommunications
Reliance, BSNL forge interconnect pact -- 30:40:30 formula for revenue sharing
RELIANCE Telecom has signed a three-way interconnect agreement with Bharat Sanchar Nigam Ltd (BSNL) over sharing of the revenue from long-distance calls made in all the 18 circles where it holds licences to offer basic telecom services.
Terrorism
Bin Laden - An agent or Western double-agent?
MOHAMMAD AFROZ was watching television in a London airport lounge on September 11, when news of the bombing of the World Trade Center began to come in. Soon afterwards, his early morning flight to Manchester was cancelled.
Textiles
Seminar on textile industry planned
COIMBATORE: A SEMINAR on future prospects of textile industry will be organised jointly by various textile promotional bodies in Komarapalayam on December 14.
58 textile mills closed during Apr 2000-Aug '01
THE Government has said that 58 cotton and man-made fibre textile mills have been closed in the period, April 1, 2000 to August 30, 2001 due to a host of reasons including obsolete technology and increase in the cost of inputs.
