Financial Daily from THE HINDU group of publications
Wednesday, March 22, 2006
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INDUSTRY & ECONOMY

OUTSOURCING


`Outsourcing' outdated in era of globalisation: Chidambaram
The word `outsourcing' has become outdated, as the concept is undergoing change, said the Finance Minister, Mr P. Chidambaram, here today. Speaking at a seminar — `XIII All India Managerium'— organised by the Aligarh Muslim ... More

BUDGET


Maharashtra scraps stamp duty on non-local brokers
Transactions relating to sale and purchase of shares More

Budget to help sustain GDP growth: FICCI
In its post-Budget memorandum, industry chamber FICCI said the economy's impressive growth would be sustained with the Budget proposals, which have emphasised stability in fiscal management. However, the chamber has noted that though exports ... More

Parliament approves Union Budget
Mr Chidambaram said excise duty reductions in certain identified sectors were justified to boost demand and facilitate capacity addition. More

Maharashtra to hike taxes
Liquor, cable TV, four-wheelers to cost more More

CII welcomes restraining fiscal deficit within 3 pc
Bangalore metro project, funds for urban infrastructure hailed More

CEMENT


AP CM's appeal to cement makers
The Andhra Pradesh Chief Minister, Dr Y.S. Rajasekhara Reddy, has urged the members of the AP Cement Manufacturers' Association (CMA) to supply cement at substantially reduced prices for the weaker section housing programme, Indiramma. At an ... More

COURTS/LEGAL ISSUES


Judicial probe ordered into land allotments in twin cities
The Chief Minister, Dr Y.S. Rajasekhara Reddy, has ordered a judicial enquiry into the exemptions and allotment of vacant land under the Urban Land Ceiling Act in and around the twin cities of Hyderabad and Secunderabad. The announcement of ... More

ECONOMY


`Orissa let down by its intelligentsia'
The main reason (for Orissa's backwardness) is lack of proper planning in development of some sectors. Those participating in the decision-making process don't have a clear vision. — Mr D. K. Mohanty, Lecturer in Political Science at Rayagad a Women's College More

Asset prices worry RBI
`A central bank has no means of knowing if asset prices are indeed inflated. Its primary responsibility is to be vigilant about the health of the financial system'. More

Normal monsoon likely
45 pc probability that neutral conditions will prevail More

FERTILISERS


Coromandel open offer to Ficom
Coromandel Fertilisers Ltd, which had entered into a share purchase agreement with the promoters of Ficom Organics Ltd recently to acquire controlling stake in the company, on Monday made an open offer to the Ficom shareholders ... More

FOREIGN TRADE


London Mayor invites Indian investment
The Lord Mayor of London A.D. Brewer has sought further liberalisation of services, mainly financial and legal services, to inject competition and spur growth, while addressing a conference organised by FICCI here. ``I realise there are issues ... More

HOTELS


IT, financial services driving Hyderabad hospitality market
Highest occupancy rates recorded, says Crisil study More

INFRASTRUCTURE


IDFC, Feedback launches infrastructure initiative
To promote private-public partnerships in infrastructure More

PETROLEUM


New LPG rate in AP
The rate of the LPG cylinder in Andhra Pradesh is expected to be around Rs 280 per cylinder from April 1, following the tax relief the State Government proposes to pass on to the consumer. At present the rate per cylinder of ... More

Gas grid could come up along 4 major AP corridors
Given the demand-supply mismatch and the huge gas find in the KG-basin region, the Andhra Pradesh Government, through strategic partners, plans to develop a gas pipe grid along four major dense corridors of the State. These corridors would be ... More

PHARMACEUTICALS


Ranbaxy buys auto-injector patent from Senetek
More

POWER


Govt pins hopes on surplus power from captive units
The Government expects around 5,000-6,000 MW of surplus power from captive units that can be fed into the grid to mitigate peaking shortages over the next five years or so. Speaking at a workshop on captive power, the Power Secretary, Mr R. V. ... More

Godawari Power fixes IPO price at Rs 70-81
Godawari Power and Ispat Ltd, formerly, Ispat Godawari Ltd, is entering the capital market with a public issue of 86,95,000 equity shares of Rs10 each through 100 per cent book building process. The subscription opens on March 28 and closes on ... More

CERC appointment
The Central Electricity Regulatory Commission (CERC) has appointed Mr Pradeep S. Mehta, Secretary General, Consumer Unity and Trust Society (CUTS), as Member of the Central Advisory Committee (CAC). He would advise the Commission ... More

TAXATION


NHAI to invite bids for electronic toll systems
National Highways Authority of India (NHAI) plans to invite bids next week for automation of 14 toll plazas as a pilot project. The automated payment systems would co-exist with manual payment systems in those stretches. "We would be inviting ... More

SSI


SIEMA to coax Coimbatore pump units to go for BIS marking
The SSI units that are manufacturing pump-sets without BIS markings have been motivated to fall in line with the Government requirement. Govt urged to extend deadline up to Sept 30 More

WATER


Precious drops
WOMEN IN TRIBAL AREAS trek long distances to fetch water from streams. The situation is no different at Killoguda, near Araku, a well-known tourist destination in Visakhapatnam district. The tribal population suffers from several water-borne ... More

COAL


Coal India wins case on explosives supply
Coal India has won a legal battle in the Calcutta High Court over a case pertaining to a contract for supply of explosives. A Division Bench of the High Court comprising the Chief Justice, Mr V.S. Sirpurkar, and Mr Justice A.K. Mitra on Tuesday ... More

RADIO/TV


TRAI seeks views on interconnect regulation
In order to amend the interconnect regulations for broadcast and cable services, the Telecom Regulatory Authority of India (TRAI) has issued a consultation paper seeking views on issues related to piracy, transmission of signals and definition of ... More

Showcause notices to TV channels for airing surrogate ads
Airing surrogate advertisements More

EDUCATION


Global education fair next month
Education Worldwide India Fair is being organised in April with participations from over hundred overseas institutions. Taking part in the fair are consultants of institutions of countries such as Singapore, the UK, the US, ... More

`Financial markets catalyst to economy'
Offer womenfolk higher earning potential with big career opportunities More

REAL ESTATE & CONSTRUCTION


Ozone Group to develop integrated township
The Rs 600-crore Ozone Group, a Bangalore-based property developer, has acquired 43 acres of land in the city. The Rs 300-crore deal is to develop an integrated township with over 2,000 apartments, an IT park and a shopping mall comprising ... More

Tantia Constructions IPO soon
Tantia Constructions Ltd (TCL), an infrastructure company based in Kolkata, is coming out with an IPO of 42,50,000 equity shares of Rs 10 each through 100 per cent book building process. The issue opens on March 27 and closes on March 31, with ... More

PAPER, BOARD & NEWSPRINT


Paper traders' body seeks clarification on excise duty cut
The Federation of Paper Traders' Association (FPTA) has urged the Finance Ministry to clarify whether the reduction of excise duty from 16 per cent to 12 per cent on paper and paper products as announced in the Union Budget for 2006-07, was for ... More

KNITWEAR & HOSIERY


Removal of duty on EPCG imports sought
Knitwear exporters from Tirupur have sought the removal of the countervailing duty incidence on imports covered under the export promotion capital goods (EPCG) scheme. The recent Union Budget proposal has led to imposition of 4 per cent ... More

SCIENCE & TECHNOLOGY


ISRO to outsource satellite production
More

CERAMICS


German body for closer ties with ceramic sector
The Indian office of the German Engineering Federation (VDMA) finds a potential for closer cooperation among German ceramic manufacturers and their counterparts in India in the foreseeable future. This is the finding of the federation following ... More

FOREIGN DIRECT INVESTMENT


`Insurance FDI cap hike vital for growth'
The Association of British Insurers (ABI) has said that the Indian Government's proposal to hike the insurance foreign direct investment (FDI) cap from 26 per cent to 49 per cent is vital for the growth of the Indian insurance ... More

RURAL DEVELOPMENT


AP: MFIs adopt conduct code
To aid SHG-bank linkage plan More

Crisil reaffirms MFI ratings in Krishna dist
Notwithstanding the decision of local administration of Krishna district in Andhra Pradesh to close down some branches of micro finance institutions (MFIs), Crisil has reaffirmed its ratings on the fixed deposit programmes of Share Microfin Ltd ... More

HUMAN RESOURCES


Wadia group plans to start cargo airline
May start institute to train technical staff More

EVENTS


`High investment, innovation key to growth'
More

CONSUMERISM


Telecom billing to be audited every year
Authority puts in place guidelines to address complaints More

EXPORTS & IMPORTS


Cost of complying with EU standards high, says FICCI
Indian exporters to the European Union (EU) are finding it increasingly difficult to comply with the EU's product and process standards, according to the survey carried out by the Federation of Indian Chambers of Commerce and Industry (FICCI).. ... More

PEOPLE


FAI southern region chief
The Fertilisers and Chemicals Travancore Ltd (FACT) said today that its Chairman and Managing Director, Dr G.C. Gopala Pillai, was elected Chairman of the Fertiliser Association of India (FAI) Southern Region. The election was ... More



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