The Hindu Business Line : Tuesday, November 04, 2008

INDUSTRY & ECONOMY

ALUMINIUM: Aluminium output cut unlikely to stem price fall
Fall in demand, rise in production cost hold price up. Mumbai, Nov. 3 Despite the sharp cut in global production, aluminium availability is expected to be in surplus till 2009. In the first half of 2008, the metal was in surplus of 7.59 lakh ...

EXPORTS & IMPORTS: Coffee exporters bet on more orders as stocks dip
Volatile currency movement forces buyers to go slow. Bangalore, Nov. 3 Coffee exporters are hopeful of order pick-up in coming months as stocks decline even as the recessionary trends cast a shadow on global consumption. Current order books for ...

ECONOMY: Sept export growth slows to 10.4%; imports rise 43.3%
Trade deficit zooms to $59.7 billion in first half. The country’s foreign trade front appears to present a gloomy picture at the mid-point of the fiscal year with export growth having slowed down to 10.4 per cent in September 2008, while ...

ENGINEERING: Tech fund for engg units sought
Formation of special economic zone also favoured. Coimbatore, Nov. 3 The Indian Chamber of Commerce and Industry, Coimbatore, has urged the Central Government to launch a Technology Upgradation Fund (TUF), on the lines of TUF for the textile ...

GEMS & JEWELLERY: India seeks suspension of 25% tolerance measure in rough diamonds
Price differential between source country price, value in recipient countries. New Delhi, Nov 3 India today sought a suspension of the extant 25 per cent tolerance measure or price differential between the source country export price and the ...

TEXTILES: Textile units shutting, laying off workers
Major US retailers cutting orders for winter apparels. New Delhi, Nov. 3 With a bevy of US textile retail chains going belly-up, and other large American retailers closing down stores, Indian textile and garment exporters are bracing up for an ...

TOURISM: Australia continues to be hot destination for Indians
Mumbai, Nov. 3 While the overall international arrivals to Australia might have remained flat for the year ended August 31, 2008, when compared to last year, tourists from India continue to flock to the ...

REAL ESTATE & CONSTRUCTION: Crossings Infra plans 2 commercial projects in Delhi region
New Delhi, Nov. 3 Crossings Infrastructure, a special purpose vehicle promoted by seven real estate companies to develop 360 acre-integrated township project ‘Crossings Republik’ in Delhi NCR, on Monday announced two ...

POWER: Teesta group to change protest strategy
Gangtok, Nov. 3 After completing a marathon 500 days of relay hunger strike against the mega hydel power projects in North Sikkim, Affected Citizens of Teesta (ACT), which is spearheading the protests, is soon expected to change their strategy ...

ALTERNATIVE MEDICINES: Call for collaborative research in medicinal use of natural products
Hyderabad, Nov 3 Research in medicinal applications of natural products is a team work and there is a need for greater collaboration between the nations in furthering the knowledge of natural products, according to Prof Geoffrey A. ...

EXPORTS & IMPORTS: Iron ore exports down to a trickle
Chennai/Mumbai, Nov. 3 Iron ore exports from the country have been reduced to a trickle. Shipments from the country dropped 81 per cent in October compared with the same period a year ago on fall in demand from China and glut in the ...

EXPORTS & IMPORTS: Plea to check malpractices in poppy seeds imports
Kochi, Nov. 3 The Centre is said to be losing over Rs 300 crore since January 2007 due to heavy under-invoicing and other allegedly fraudulent methods used in importing poppy seeds into the country. Hence, the trade has urged the Union ...

SOCIAL WELFARE: Workers, ex-staff become owners of Garware Nylons unit
Jt venture co to be formed to make corrugated boxes. Pune, Nov. 3 The depositing of a demand draft of Rs 92.90 lakh at the Mumbai High Court today, the last in a series of payments totalling Rs 6.01 crore for land and property bought at a public ...

MINING & QUARRYING: Keep investing abroad, India Inc told
Mumbai, Nov. 3 Even as many corporate houses are squeezed for funds, Mr Ashwani Kumar, Minister of State for Commerce and Industry, advocated that companies should take advantage of the attractive valuations and invest part of the profits made ...

STEEL: Stainless steel cos seek duty relief
‘Hike import duty on stainless HR flat rolled products’. Mumbai, Nov 3 It now appears to be turn of the stainless steelmakers to seek duty relief to escape being swamped by cheaper imports from China, Korea ...

EXPORTS & IMPORTS: Tea exports set to touch 210 m kg
Bangalore Nov. 3 Strong demand from emerging markets such as Egypt, Russia and Pakistan would see tea exports grow to about 210 million kg this year, according to the United Planters Association of South ...

URBAN DEVELOPMENT: Chamber plea on Mangalore plans
The Kanara Chamber of Commerce and Industry (KCCI) has sought a comprehensive master plan for Mangalore, keeping in mind the growth potential for the next four or five ...

ENVIRONMENT: 61-year-old on 1,030-km run for the environment
Kochi, Nov. 3 Dr George Thomas, a 61-year-old mathematician, inventor, professor and philanthropist, on Monday embarked on a 1,030-km run for the environment from Kanyakumari across various cities, towns and villages in ...

TAXATION: Entertainment tax on amusement parks in TN is legal: HC
Chennai, Nov. 3 The Madras High Court has held that theme/amusement parks in the State were liable to pay entertainment tax on collections for entry of public. Their challenge to the TN Entertainment Tax Amendment Act 32 of 1998 and plea ...

PETROLEUM: ATF prices further down; no word on fares cut
New Delhi, Nov. 3 The price of aviation turbine fuel (ATF) is set to fall by more than Rs 2,000 a kilolitre in the four metros. This follows the public sector oil companies implementing the Government decision to abolish the 5 per cent ...

LABOUR REFORMS: Crushing drudgery
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SCIENCE & TECHNOLOGY: Moon gazing
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INDUSTRY ASSOCIATIONS: ‘Wrong signals won’t help’
New Delhi, Nov. 3 The FICCI President, Mr Rajeev Chandrasekhar, said on Monday that the RBI Governor should not send out the wrong signals when there is a crisis of ...

KNITWEAR & HOSIERY: Tirupur exporters plea to extend VAT relief to low tension units
The Tirupur Exporters’ Association (TEA) has appealed to the Government to extend reimbursement of VAT on diesel purchases to low tension ...

AUTOMOBILES: Govt hopeful of turning Kolkata into auto hub of East
Kolkata, Nov. 3 Chinese investments in the automobile sector can play a role in developing West Bengal as an automobile hub for eastern India, said Mr Sabyasachi Sen, State Commerce and Industry Secretary, here ...

STEEL: Steel duty cut: Marginal difference to outlook
Move could benefit JSW Steel. The Government’s decision to withdraw the 15 per cent export duty on steel products may help make Indian steel products more competitive in the export markets, even as steel prices have corrected sharply and ...

INFRASTRUCTURE: Sungudi weavers set for a change
The National Bank for Agriculture and Rural Development has auctioned Rs 25 lakh to weavers of the Madurai Sungudi saris for establishing a ‘tie and dye’ cluster. The allotment would enable the setting up of a common facility ...