The Hindu Business Line : Saturday, November 03, 2007

NRIS
OBC revises FCNR deposit rates
Oriental Bank of Commerce (OBC) has announced changes in interest rates on foreign currency non resident (FCNR) deposits on all maturities from one to five years for US dollars, British pounds, euro, Australian dollar and Canadian dollar ... More

AWARDS & HONOURS
Awards at analytica Anacon
Hyderabad, Nov. 2 The Indian Analytical Industry (IAI) has selected 10 top business executives from the instruments industry for the ‘Hall of Fame 2007’, awards. Mr S. Tyagarajan, Chairman of Spinco Biotech and Mr D.J. Rao, ... More

AUTOMOBILES
eBay Motors upbeat on eastern region
Kolkata, Nov. 2 eBay Motors India Pvt Ltd, the online B2B motors marketplace of eBay portal, is bullish on pushing up sales volume in eastern India, which has emerged as the fastest growing market for it. The region is expected to account ... More

CEMENT
Higher price realisations help cement cos in Q2
Prices have risen 4% quarter-on-quarter More

COURTS/LEGAL ISSUES
Large-scale trials of GM crops: SC issues notice to GEAC
Hyderabad, Nov. 2 The Supreme Court of India has asked GEAC (Genetic Engineering Approval Committee) to respond to the contempt plea moved by Ms Aruna Rodrigues and others on the permission given to large-scale trials for GM crops.The ... More

ECONOMY
For growth, depend both on agriculture, industry: Stiglitz
To ensure sustainability of economic growth, countries would have to depend both on agriculture and industry. For, it is not feasible to leverage only on agriculture for sustained economic growth, according to Prof Joseph Stiglitz, US Nobel ... More

Three loan agreements signed with World Bank
Total assistance amounts to $944 million for three projects More

‘Emerging economies have to be vigilant’
Mumbai, Nov. 2 In a globalised world, emerging market economies may be more vulnerable to shocks originating in developed economies and this would therefore call for extreme vigilance on the part of policy makers, said Mr T. T. Mboweni, ... More

India to import more crude oil from Africa
To meet its growing domestic demand, the country is planning to import nearly 38 per cent more crude oil from the region in the next three years. The Petroleum Secretary,Mr M. S. Srinivasan, said"We are enhancing the levelof engagement with ... More

EXCISE AND CUSTOMS
Disturbing trends to the fore in vegoil market
Tariff value freeze leads to loss of revenue More

PSU
Finance Ministry opposes writing off BHPV’s loans
Merger with BHEL likely to be delayed More

PETROLEUM
Govt plans to allow 49% foreign holding in PSU refineries
New Delhi, Nov. 2 The Government proposes to allow 49 per cent foreign investment in public sector oil refineries, in commodity exchanges, and in Credit Information Companies (CIC). In the civil aviation sector, foreign direct investment up to ... More

Decision on oil price issue next week
New Delhi, Nov. 2 The Government plans to take a decision on the petrol and diesel price issue by next week. The options being explored by the Government to combat the rising crude prices include a marginal hike in retail selling price of ... More

PHARMACEUTICALS
Pharma policy: GoM meet put off
New Delhi, Nov 2 The Group of Ministers reviewing the Pharmaceutical Policy 2006 cancelled its meeting scheduled for Friday. On the agenda was the presentation of the Ministry of Chemicals and Fertilisers on the details of the policy which ... More

POWER
FMC nod for MCX promoter to prune stake
Mumbai, Nov. 2 FMC has approved Financial Technologies (India) Ltd. (FTIL) proposal to bring down its holding in Multi Commodity Exchange of India to 38 per cent. “There are some 6-7 firms that are interested in picking up stake ... More

TEXTILES
Ministry alive to garment exporters’ woes: Vaghela
The Government has released about Rs 600 crores to clear arrears of terminal excise duties and CSTreimbursement — Mr Shankersinh Vaghela More

‘Recast tech fund scheme will trigger investments’
Coimbatore, Nov 2 The Centre has finally come out with the revamped technology upgradation fund scheme (TUFS). The restructured TUFS provides sector-specific thrust that includes encouraging new investments in technical textiles, ... More

RADIO/TV
Hello FM to tune in Coimbatore
The Coimbatore station of Hello FM, from Malar Publications Ltd, will go on air from November 5. Coimbatore is the fifth station in its network after Chennai, Madurai, Tirunelveli and Thoothukudi. According to Mr Rajeev Nambiar, COO, Hello FM, ... More

INX Network to launch 9X channel
Mumbai, Nov. 2 The INX Network is poised to launch its flagship Hindi general entertainment channel — 9X— this festive season. Ms Indrani Mukerjea, Founder and Group Executive Director, INX Media Pvt Ltd, said: “9X, ... More

EDUCATION
Toonz Group looks to open animation schools abroad
Thiruvananthapuram, Nov. 2 The Toonz Group, which operates ‘Toonz animation academies’ across the country, is looking at starting animation training schools in China, Sri Lanka, Thailand and other parts of Asia. ... More

Dubai college setting up KPO centre in Hyderabad
Hyderabad, Nov 2 The Dubai-based eTQM College will set up a Content & Software Development Centre (CSDC) in Hyderabad.The college, a Government of Dubai entity, had entered into an agreement with C&K Management for co-operation ... More

MEDICAL INSTITUTIONS & HOSPITALS
Metropolis, Star Clinics tie up
Chennai, Nov. 2 Metropolis Health Services, a chain of diagnostic centres with a presence across the country, has tied up with Star Clinics, a primary healthcare clinic chain present in Kerala and Tamil Nadu, to set up labs/sample collection ... More

REAL ESTATE & CONSTRUCTION
Fiat sells Kurla property to IKG for Rs 608 cr
Mumbai, Nov 2 Fiat India Pvt Ltd on Friday said it had sold its 53-acre Kurla property to IKG Associates, an IL&FS-affiliated entity, for Rs 608 crore.The company said that the sale was in continuation of the ongoing consolidation ... More

Nursing exits with nostalgia
“Thes baras pahle Yogi Nagar nahin tha; pura jungle tha; jungle se dar nahin lagta tha; abhi motor gadion se dar lagtha hai (Yogi Nagar was a forest some 30 years ago; we were not afraid of the jungle; now, we are ... More

INDUSTRY ASSOCIATIONS
Assocham demands cut in interest rates
‘Huge FII flow likely after Fed rate cut’ More

CII flays frequent hartals in Kerala
Kochi, Nov. 2 Protest is brewing in the industrial circles in Kerala over the frequent hartals called by various political parties and trade unions, as it is affecting the economic growth of the State. The Confederation of Indian ... More

KNITWEAR & HOSIERY
Tirupur exporters hail scheme’s clearance
Coimbatore, Nov 2 Tirupur Exporters Association (TEA) has welcomed the clearance of the Technology Upgradation Fund Scheme (TUFS) by the Ministry of Textiles.The association has also appreciated the Centre for providing, besides the 5 ... More

FOREIGN DIRECT INVESTMENT
Mail Today among Rs 211.66-cr FDI plans cleared
New Delhi, Nov 2 The Finance Minister, Mr P Chidambaram, has approved 12 foreign direct investment (FDI) proposals involving investment inflow of Rs 211.66 crore. The approvals are based on the recommendations of the Foreign Investment ... More

Japanese FDI expected in auto, chemicals sectors
Japanese investment in India should touch $5 billion in the next three years, according to Mr Sanjay K. Thade, Director in the Department of Industrial Policy and Promotion, Government of India.Speaking at an “Investment Promotion ... More

49% FDI cap in domestic airlines to remain
New Delhi, Nov. 2 International airlines will have to wait a bit longer for picking up a stake in domestic airlines. The Government has decided not to raise the cap of 49 per cent in the foreign direct investment through the automatic ... More

EVENTS
Florex India 2007 opened
Pune, Nov 2 Florex India 2007, a three-day international floriculture exhibition, began on Friday. Talking to presspersons, Mr Navneesh Sharma, Deputy General Manager, APEDA, said this is the first initiative of flower growers, both ... More

Realty conclave in Kochi
More

BL Club guest lecture in Vizag
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Management meet today
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INCOME TAX
Unique achievement by a 100-year-old taxpayer
New Delhi, Nov 2 Mr F.D. Engineer, aged about 100 years, resident of Secunderabad in Andhra Pradesh, filed his income-tax returns on July 31, and paid due taxes. An official release said that the Finance Minister has personally ... More

EXPORTS & IMPORTS
Ministry alive to garment exporters’ woes: Vaghela
The Government has released about Rs 600 crores to clear arrears of terminal excise duties and CSTreimbursement — Mr Shankersinh Vaghela More

Auto components imports surge, exports dip
‘Raw material imports costlier than finished product’ More

TOURISM
The harbingers
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ECONOMIC OFFENCES
Harshad Mehta’s RIL shares: Court defers sale
Mumbai, Nov. 2 The Special Court trying the 1992 securities scam has deferred the sale of 24 lakh Reliance Industries shares belonging to the estate of the late Harshad Mehta and has asked the custodian to have a re-look at the modalities of ... More