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INDUSTRY & ECONOMY
PETROLEUM:
No change in price of gas from Reliance’s KG basin block
Despite falling global crude oil prices. New Delhi, Dec. 8 The Government determined price for the sale of natural gas by Reliance Industries Ltd (RIL) from the D6 Block in the Krishna Godavari Basin will remain unchanged despite the steep fall ...
EXCISE AND CUSTOMS:
Railway freight hike may dilute excise relief for cement cos
‘A benefit of 2-3% will be passed on to the consumers’. The much-hyped Government stimulus package for the cement industry was partly nullified by a one percentage point hike in freight rates effected by the Railways ...
EXCISE AND CUSTOMS:
Cenvat rate cut not to cover tobacco products: Finance Ministry
New Delhi, Dec. 8 There is no relief on the wallet for smokers and users of tobacco ...
COAL:
Coal pilferages on the rise as shortages haunt power units
Recovered coal is estimated to be just a fraction of what is stolen. At a time when a coal crisis is walloping the country’s power sector, with over 50 of the 77 thermal stations in the country facing “critical” fuel stocks, ...
EXCISE AND CUSTOMS:
Auto cos, dealers to write off stock losses with excise cut
‘Duty cut might not help sales due to cash crunch’. Mumbai, Dec. 8 The four percentage point excise duty cut across all vehicle categories announced on Sunday could see auto manufacturers and dealers losing at least Rs 250 crore on ...
EXCISE AND CUSTOMS:
Consumer goods unlikely to see price cuts
No visible gains in margins, say FMCG players. Mumbai/Chennai, Dec. 8 The cost of your favourite soap or biscuit brand will not immediately come down, despite the Government announcing a 4 percentage point reduction in the ad-valorem CenVAT ...
EDUCATION:
Hospitality institutes to combine security drills with culinary skills
POST-MUMBAI ATTACKS. Mumbai, Dec. 8 Last week’s terror attack on two luxury hotels in Mumbai has come as an eye-opener for hospitality management ...
CONSUMER ELECTRONICS:
…while durables makers get set to pass on excise cut benefits
It is perhaps the right time for consumers planning to buy durables and appliances to go ahead with their purchases as all durable majors are likely to effect a 1-4 per cent cut ...
WTO:
Keeping Doha going
The move by the WTO Director-General, Mr Pascal Lamy, to call a Ministerial meeting in the middle of this month cannot be aimed at wrapping up the extended negotiations on the Doha Round because there are still strong differences between ...
INFRASTRUCTURE:
Highway developers await stimulus package fine-print
Emphasise need to expedite process so projects gain from it. New Delhi, Dec. 8 Highway developers are waiting for the details of the Government announcement allowing India Infrastructure Finance Company Ltd (IIFCL) to raise funds by issuing ...
CARS:
Cars become cheaper as industry passes on excise cut benefit
New Delhi, Dec. 8 Car makers have been quick in responding to the Government’s announcement of a four per centage point reduction in excise ...
TERRORISM:
Country Club’s gesture
As a mark of respect to the officers who laid down their lives in the recent Mumbai terrorist attack, the Hyderabad-based leisure infrastructure company Country Club (India) Ltd has announced Rs 1 crore as a tribute to the families of the ...
HOTELS:
21,000 Mumbai restaurants plan to ban meal vouchers
Mumbai, Dec. 8 Indian Hotel and Restaurants Association (AHAR) has threatened to ban meal vouchers from its over 21,000 snack and food outlets in Mumbai. A statement from the association on Monday said: Such move could be adopted in the light ...
PETROLEUM:
IOC signs pact with Adani for gas distribution venture
Kolkata, Dec. 8 Indian Oil and Adani Energy Ltd on Monday entered into a memorandum of understandingfor setting up 50:50 city gas distribution joint venture, according to sources. Adani Energy is the gas distribution arm of the ...
ECONOMY:
‘Social infrastructure, local investment, key to development’
CEOs identify priorities for south Tamil Nadu. Madurai, Dec.8 Creation of social infrastructure and confident investment by local entrepreneurs for bold and big investments to follow from outside, are the two necessary factors for the ...
TERRORISM:
‘Amend Arms Act, empower security personnel to reflect the changing role’
Chennai, Dec. 8 The role of the ‘security’ at the gate is changing from that of mere ‘watch and ward’ to a protector of lives and property, and the recent terrorist attacks are accelerating the pace of ...
SCIENCE & TECHNOLOGY:
ISRO seeks Rs 10,000 cr from Centre for first manned mission
Kolkata, Dec. 8 The Indian Space Research Organisation (ISRO) has proposed a funding of nearly Rs 10,000 crore from the Centre for India’s first manned mission in space to take off in the next five to six years, according to sources ...
HUMAN RESOURCES:
‘Perform or be replaced’
Performance-based compensation high on HR agenda. Bangalore, Dec.8 Performance-based compensation, which hitherto has been more a perfunctory function than something that actually distinguished high performing talent from the mediocre, is now ...
INFRASTRUCTURE:
BOA clears 22 SEZ proposals
The Board of Approvals (BOA) on Monday approved 22 Special economic zone (SEZ) proposals including that of Emaar MGF Land in Tamil Nadu and Dr Reddy's Laboratories in Andhra Pradesh. While 19 `formal' approvals were given, three were ...
SCIENCE & TECHNOLOGY:
Corporate giants join hands for India-US research initiatives
Hyderabad, Dec. 8 IBM, Intel, Boeing, Lockheed Martin are among several large corporates supporting joint research initiatives between India and the US in high-tech ...
CARS:
Ford expects turnaround well ahead of utilising full capacity of plants
Bangalore, Dec. 8 The US car maker Ford has said its Indian operations are expected to turn around much before the company utilises the full capacity of ...
PHARMACEUTICALS:
Medicine prices set to come down
Mumbai, Dec. 8 The latest salvo from the Centre to stimulate growth will help bring down the price of medicines made in non-tax-free zones prices by about two per cent. But it also seems to be taking off much of the sheen from ...
COURTS/LEGAL ISSUES:
HC dismisses writ against UP cane support price
Chennai, Dec. 8 The Allahabad High Court on Monday dismissed a writ petition that challenged the state advised price (SAP) fixed by the Uttar Pradesh Government for purchase of sugarcane from the growers during the current crop year that ...
INDUSTRY ASSOCIATIONS:
FAPCCI hails Centre’s stimulus package
Hyderabad, Dec. 8 The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) has welcomed the fiscal measures announced by the Union ...
TEXTILES:
‘No impact’ from duty cut on cotton textiles
New Delhi, Dec. 8 The decision by the Government to abolish the duty on cotton textiles and textile articles has failed to cheer the sector, with industry players describing the move as a superficial exercise with “no impact” or ...
KNITWEAR & HOSIERY:
Knitwear exporters seek more sops
Coimbatore, Dec. 8 While welcoming the measures announced for the textile sector in the first tranche of the stimulus package, the Tirupur Exporters’ Association (TEA) said that it would only partially help the knitwear garment exporters ...
EXCISE AND CUSTOMS:
HC asks excise dept to consider relief plea of GK Steels
Chennai, Dec. 8 The Central Excise authorities have been directed by the Madras High Court to consider the plea of GK Steels (Coimbatore) Ltd for granting concession under the Kar Vivad Samadhan Scheme, 1998, introduced by the Finance Act 21 ...
EVENTS:
Technology expos in Bangalore from tomorrow
Bangalore, Dec. 8 In a clear expression of their belief of Indian economic resilience amidst global meltdown and its huge market potential, a large number of international companies from Germany and other countries have confirmed ...
COURTS/LEGAL ISSUES:
Division Bench differs on bail plea of Ashok Todi
Kolkata, Dec. 8 The Division Bench of the Calcutta High Court on Monday differed in its opinion about granting of bail to Ashok Todi, the accused in the Rizwanur Rahaman unnatural death ...
ELECTRICAL GOODS:
Electrical sector hails stimulus package
The electrical industry has welcomed the Government’s announcement of a fiscal package of Rs 20,000 crore in additional expenditure and four percentage point excise duty cut across ...
ENVIRONMENT:
Environmental Sustainability Index: Sikkim bags second spot
Gangtok, Dec. 8 The Centre for Development Finance (CDF), a non-profit research organisation, has given Sikkim the second position among all the 28 States in its Environmental Sustainability Index (ESI) 2008 ...
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