The Hindu Business Line : Saturday, June 14, 2008

TN will encourage offshore wind projects
Chennai, June 13 The Tamil Nadu Government will encourage the establishment of offshore and near-shore wind turbines to augment power supply, according to Mr S. Machendranathan, Chairman, Tamil Nadu Electricity Board.Wind energy has ... More

LOTTERY
‘Centre’s stand will help online lotteries’
The Centre’s move to impose a blanket ban on lotteries is a ploy to bring back online lotteries, according to Kerala Finance Minister, Dr Thomas Isaac.He said here on Friday that the State Assembly had passed a legislation banning ... More

CEMENT
Cement output down in May
Mumbai, June 13 Cement output in May fell marginally to 14.89 million tonnes (mt) against 15.02 mt in April, according to data available with Cement Manufacturers’ Association . The ban on exports has resulted in oversupply in ... More

ECONOMY
Inflation at 8.75%, hits 7-year high on dearer primary goods
Estimates do not factor in the retail fuel price hike More

Bond prices fall by 40 paise
Mumbai, June 13 Bond prices tumbled by around 40 paise for the second consecutive day as domestic inflation soared to 8.75 per cent and triggered fears of another rate hike.The 8.24 per cent-10 year-2018 benchmark paper opened at Rs ... More

EXCISE AND CUSTOMS
Export duty on long steel products hiked
New Delhi, June 13 In its continuing inflation-busting efforts, the Centre has raised the export duty on long steel products used in construction and infrastructure projects from 10 to 15 per cent, alongside clamping a flat 15 per cent ad ... More

INFRASTRUCTURE
Work on Jeedimetla industrial estate may begin by year-end
Hyderabad, June 13 The Andhra Pradesh State Financial Corporation (APSFC) expects to begin work on the development of a multi-purpose industrial estate by the end of 2008 on 271 acres of land provided by the State Government near Jeedimetla on ... More

‘AP coastal corridor, SEZs disastrous’
The National Fishworkers’ Forum (NFF) has condemned the proposal of the Andhra Pradesh Government to build a coastal industrial corridor from Srikakulam to Kakinada and beyond as “utterly destructive” to the livelihood of ... More

Infrastructure works at Ambattur industrial estate in progress
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Goa to recall all lands allotted to SEZs
Panaji, June 13 In a significant decision, in tune with the State Government’s earlier decision to scrap the controversial Special Economic Zone (SEZ) projects, the Goa Industrial Development Corporation (GIDC) on Friday resolved to ... More

PLASTICS
‘Petrochem cos must maintain availability of plastics’
Kolkata, June 13 Indian Plastics Federation on Friday urged primary producer of petrochemical products like Reliance, GAIL and Haldia Petrochemicals to maintain availability of plastics in the domestic market and refrain from abrupt increase ... More

SSI
SBI to float private equity fund for SMEs
We will take a call on rates after a week or two: Bhatt More

Dax Networks eyes SMB sector
Coimbatore, June 13 Networking major Dax Networks is eyeing the small and medium business sector for growth. Its Chief Operating Officer, Ms Sudha Jagadish, and Chief Technology Manager, Ms Subashini Prabhakar, said the company’s focus ... More

EDUCATION
New Horizons India invests Rs 100 cr in strategic biz unit
New Delhi, June 13 New Horizons India Ltd, a joint venture of New Horizons Worldwide and the Shriram Group, has announced that it has set up a new strategic business unit ‘Knowledge Horizons’ to deliver innovative, customised ... More

Dual MBA-CFA programme
The ICFAI University, Tripura, has announced the launch of the MBA-CFA dual degree programme designed to “prepare students with the skills, knowledge and strategic perspectives required to become business leaders.” The dual degree ... More

Sterlite, Tuticorin port launch coastal livelihood project
Sterlite Industries (I) Ltd (SIIL) in association with Tuticorin Port Trust (TPT) has launched a ‘Coastal Livelihood Project’ for 2008-09 to promote the technical skills among coastal youth in Tuticorin.The Rs 15-lakh ... More

REAL ESTATE & CONSTRUCTION
Aliens gets nod for 30-storey project
Aliens Group, a property developer, has received the Hyderabad Urban Development Authority (HUDA) approval for the construction of a 30-storey residential project at Gachibowli near here. Christened Aliens Space Station 1, the project is coming ... More

INDUSTRY ASSOCIATIONS
Model compliance code for industry associations likely
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SCIENCE & TECHNOLOGY
DAE maps out ‘clusters’ of Fast Breeder Reactors
Lines up at least four units to be constructed by 2020 More

FINANCIAL MARKETS
AP to set up Credit Guarantee Trust for SC, ST
Hyderabad, June 13 The Andhra Pradesh Government will form a Credit Guarantee Trust, which would help in providing guarantees for scheduled caste and scheduled tribe entrepreneurs in the State. Rs 1,000-cr ... More

FOREIGN DIRECT INVESTMENT
Deutsche Bank stake buy among 13 FDI proposals cleared
New Delhi, June 13 Deutsche Bank’s plans to acquire up to five per cent stake in the Delhi Stock Exchange for Rs 13.47 crore, and another by steel major ArcelorMittal India to convert operating company into operating-cum-holding company ... More

HUMAN RESOURCES
Workman is entitled to gratuity even if he had participated in strike: High Court
Chennai, June 13 The Coimbatore Murugan Mills, which was taken over by the National Textiles Corporation following its sickness, has been directed by the Madras High Court to pay to one of its workmen the amount lying in deposit with the Asst ... More

Learning centre for child labourers
Monsanto, the agrochemical giant, has teamed up with the Kurnool-based non-governmental organization, Voluntary Organisation of Rural Development Society (VORDS) to start a learning centre to offer formal and informal education to children at ... More

EVENTS
India to host diamond conclave
India is hosting the fifth inter session of the Kimberley Process Certificate Scheme (KPCS) beginning from 17 to 19 June 2008 here. Delegates from about 35 countries are expected to attend the three-day conclave to take stock of the progress ... More

The bankers’ bonhomie
JIBES AND ADVICE TOO More

EXPORTS & IMPORTS
India should export some wheat, rice
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Exports of rice handed to Customs before ban allowed
New Delhi, June 13 The Centre has permitted export of non-basmati rice in specific cases where the consignments were handed over to Customs authorities before the ban on exports came into force from March 31 this year. This is being ... More

ECONOMIC OFFENCES
Corruption in Asia-Pacific can impede development goals: UNDP report
‘Exploitation-linked corruption hitting the poor hardest’ More

PEOPLE
New Director-General for FAI
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