The Hindu Business Line : Tuesday, April 03, 2007

NRIS
LVB cuts dollar deposit rates
Lakshmi Vilas Bank has effected a downward revision in interest rate on FCNR dollar and NRE deposit with immediate effect. The interest rate on FCNR (B) dollar deposit has dipped marginally from 4.99 per cent to 4.97 per cent ... More

Banks trim NRE rates
State Bank of India and Union Bank of India have revised interest rates on FCNR (B) deposits effective April 1, with Bank of Baroda following from April 3. Union Bank of India and Bank of Baroda have also revised interest rates ... More

Andhra Bank cuts NRE rates
Andhra Bank has revised interest rates on Non-Resident (External) term deposits with effect from April 1, 2007. According to a release issued here on Monday, the interest on NRE term deposits between one year and above and less ... More

ECONOMY
`Two-pronged growth strategy for Kerala vital'
While there have been changes for the better in Kerala over the past 50 years, this growth is not sustainable either economically or socially, said the State Finance Minister, Dr T.M. Thomas Isaac. The State needs to evolve a strategy of ... More

$125-b export target for '06-07 fiscal may not be hit
Feb growth slows down to 8%; cumulative exports in April-Feb at $109.1 b More

Gujarat annual Plan pegged at Rs 16,000 cr
`Panel to hold consultation on 11th Plan shortly' More

West Bengal's credit-deposit ratio at 65%
West Bengal's credit-deposit ratio has recorded an increase by 5 percentage points over March 2006 to 65 per cent, a press release issued by United Bank of India has said. A State Level Bankers' Committee Meeting, held on March 31, reviewed ... More

Orissa keen on investments in `non-metallurgical sectors'
State hopes to facilitate job creation More

COMMODITY COMMENTARY
China commodity demand continues to grow
No sign of slowdown visible More

EXCISE AND CUSTOMS
Bangalore zone customs mop-up tops Rs 5,000 cr
The Bangalore Customs Zone, covering the Commissionerates of Bangalore, Mangalore and Cochin, has crossed the Rs 5,000-crore mark of revenue collection for the fiscal 2006-07, surpassing the target of Rs 4,540 crore. The zone with Rs 5,004-crore ... More

FOREIGN TRADE
NEW ACCORD
The Karnataka Chief Minister, Mr H.D. Kumaraswamy, exchanging documents with the Minister-President, State of Bavaria (Germany), Mr Edmund Stoiber, after signing a memorandum of understanding for co-operation in various fields, at a function in ... More

HOTELS
Appu Hotels plans 10 more units in TN
Appu Hotels Ltd that owns Le Royal Meridien, a five-star deluxe hotel in Chennai, plans 10 hotels across the State in another three to four years. "Of the ten, two or three will be in the five-star category and the rest will be in the ... More

INFRASTRUCTURE
AP CM okays Srikakulam jute park proposal
The Chief Minister, Dr Y.S. Rajasekhara Reddy, has responded favourably to the proposal put forward by the Federation of Andhra Pradesh Industries (FAPI) to set up a jute park on 150 acres and has instructed the District Collector of Srikakulam ... More

PETROLEUM
`ONGC's Mahanadi gas find confirmation soon'
DGH team assessing find for extent and full potential of gas deposits More

POWER
Lanco denies misrepresentation in Sasan bid document
The Lanco Group Chairman, Mr L. Madhusudhan Rao, has denied any misrepresentation in the Lanco-Globeleq combine's bid document submissions for the Sasan Ultra Mega power project. "There has been no misrepresentation in our bid submissions... ... More

TNEB earns Rs 273 cr selling surplus power
Barter deal with Haryana for 300 MW More

Mumbai city faces load shedding
Mumbai city is likely to face load shedding of at least one hour in the near future. Currently, the power shortage is 400 mw and it is likely to increase to 550 mw in the coming days, said Mr Prasad Menon, Managing Director of Tata Power Co Ltd. ... More

TAXATION
2 years of VAT: Uses, misuses and unfulfilled promises
Two years after the implementation of VAT in Andhra Pradesh, the Government is quite happy with the revenues showing significant growth but traders and experts complain that there is a lot to be done to meet the promises made. The Commercial ... More

Panel to finetune VAT system in AP
In a bid to finetune the two-year-old VAT regime in Andhra Pradesh, the Government has constituted a high-powered committee to review the status and suggest measures to further improve the system. Mr Konathala Ramakrishna, Minister for ... More

SSI
Seminar on SMEs
The Hyderabad Management Association, in association with Madras Management Association, will organise a daylong seminar on `SMEs - Engines for growth and employment' here on April 3. Mr V.B. Shankar, Former President of ... More

SSI sector growth at 8.87%
The Union Minister for Small Scale Industries and Agro and Rural Industries, Mr Mahabir Prasad, urged the States to take the benefit of the package for the SSI sector announced by the Centre recently. Inaugurating a conference jointly ... More

COAL
Coal India mulls new profit-sharing model
Consultants to help frame contracts with equipment suppliers More

EDUCATION
IIM-A gets Skoch Challenger Award for academic excellence
These awards are independently instituted by Skoch Consultancy Services More

Varsity for need-based syllabi
Anna University, Coimbatore, is organising an interactive session with industrial organisations in Coimbatore as part of its efforts to formulate need-based new courses and syllabi to be offered by the University from the coming ... More

`Education institutes not opposed to quota'
Implementation of quota system More

AP set to emerge as hub of premier tech institutions
`There will be fruitful industry-academia interaction as they will take up innovative projects.' More

IISc joins hands with Texas Instruments
The Bangalore-based Indian Institute of Science (IISc) has become the first university outside US to join Texas Instruments' premier research network of the top four leadership universities in the world. IISc joins the likes of Georgia ... More

Library modernisation plan
The New Delhi-based EMPI Business School, together with leading library educationists, has drawn a roadmap for modernisation of libraries and information centres to meet the requirements of the emerging knowledge society. The ... More

REAL ESTATE & CONSTRUCTION
Real estate expo to showcase 2,000 projects
Over 2,000 projects will be showcased at a four-day real estate expo to be organised here by the Maharashtra Chamber of Housing Industry from April 5. Developers from Mumbai, Thane, Pune, Bangalore, Nashik, Kochi, Hyderabad, Chennai, Nagpur, ... More

Realty loans turning sticky for banks
EMI defaults on the rise; tenures get stretched More

IPR
Appellate Board, Chennai operational now
The Government has appointed Mr S. Chandrasekaran as the Technical Member (Patents) of the Intellectual Property Appellate Board, Chennai. With Mr Chandrasekaran having assumed the charge from Monday, the Appellate Board has become operational. ... More

RURAL DEVELOPMENT
Shri Kshetra Dharmasthala plans new projects
Education, rural welfare to be focus More

EVENTS
SAARC — in search of a larger identity
A South Asian identity could emerge as a result of SAARC and its multidimensional activities. More

Goa ad awards fest receives over 3,200 entries
Over 2,000 delegates expected on April 20-21 More

EXPORTS & IMPORTS
Hyundai bullish on Getz Prime
Hyundai Motor India Ltd (HMIL) on Monday said that it had set a target of 30,000 units for its newly launched Getz Prime, in the domestic market. However, for the European market, where the company claims to have sold this model the most, it is ... More