The Hindu Business Line : Friday, December 19, 2008

INDUSTRY & ECONOMY

ECONOMY: Sensex closes above 10,000 on lower inflation, new package
Mumbai, Dec. 18 Fall in inflation figures steeper than the market expectations, reports about the Government considering a second stimulus package and speculation about another rate cut by RBI, boosted sentiments in the stock market on ...

PETROLEUM: ONGC, OIL told not to subsidise crude
Global crude is now lower than the earlier subsidised price. New Delhi, Dec. 18 The Government has told ONGC and Oil India Ltd not to extend any discounts with effect from last week of November to public sector oil marketing companies (OMCs) ...

EXPORTS & IMPORTS: Tyre companies resort to cutting output
Prospects skid on weak demand, cheap imports. Mumbai, Dec. 18 Pushed to the wall by cheap imports from China and tapering demand, tyre manufacturers have decided to cut production to protect ...

AUTOMOBILE COMPONENTS: Auto part makers may consolidate plant operations
To counter sharp drop in offtake from auto companies. New Delhi, Dec. 18 Auto ancillary companies with plants at multiple locations are considering consolidating their operations to cut costs. This is due to the sharp drop in the offtake of auto ...

ECONOMY: Additional demand for Rs 55,604 cr grants tabled
New Delhi, Dec. 18 Food and fertiliser subsidies, pensions for Defence personnel, spend on rural as well as employment guarantee programmes and outgo on technology upgradation fund scheme form a major chunk of the additional expenditure of ...

PETROLEUM: Kandla port invites refineries to set up single-point mooring
Ahmedabad, Dec. 18 With major infrastructure groups eyeing Kutch district of Gujarat to set up crude oil refineries in the near future, the Kandla port has announced setting up of a single-point mooring (SPM) and allied facilities for ...

REAL ESTATE & CONSTRUCTION: Marg in tie-up with Surbana to introduce prefab construction tech
In discussions with Singapore, Malaysian cos to bring in production facility. Chennai, Dec. 18 The Chennai-based Marg Ltd, an infrastructure and real estate development company, has tied up with Surbana International Consultants, Singapore, to ...

WATER: 14 industrial units get award for water management
Hyderabad, Dec. 18 Fourteen industrial units were presented with the National Award for Excellence in Water Management 2008 organised by the CII-Sohrabji Godrej Green ...

ECONOMY: ‘Fall in inflation rate may put growth back on track’
Mumbai, Dec. 18 A lower than expected inflation numbers lifted market sentiments on Thursday and sparked off expectations of a further cut in interest rates by ...

POWER: BGR ties up credit for TN project
BGR Energy Systems Ltd has tied up credit lines to meet its working capital requirements for the execution of the 600-MW Mettur Thermal Power Project in Tamil Nadu with five banks committing a total credit of Rs 2,105 crore. The company said that ...

INDUSTRY ASSOCIATIONS: ‘Gen next business model will emerge from India’
CII proposes TN manufacturing competitiveness council. Chennai, Dec. 18 The business model for the next generation will emerge out of India, says the author, originator and coach of Next Practices, Mr Mark ...

SOCIAL SECURITY: EPFO transfers Rs 4,260 cr to new fund managers
New Delhi, Dec. 18 After appointing new fund managers in August this year, the Employees Provident Fund Organisation (EPFO) has transferred around Rs 4,260 crore to them till the middle ...

ECONOMY: Repeat of Great Depression unlikely: Arvind Subramanian
Chennai, Dec. 18 There is unlikely to be a repeat of the Great Depression of the 1930s in the US ...

EMPLOYMENT: Telephonic employment information service launched
Gramadootha targeting Tier II and III cities, non-IT job seekers. Hyderabad, Dec. 18 Hyderabad-based Gramadootha Technical Services Pvt Ltd announced the launch of a telephonic employment vacancy information service — ...

ENGINEERING: ‘Quality of machine tool products needs to be improved’
Coimbatore, Dec. 18 There is an imperative need to close the gap between the Indian industry’s requirement for sophisticated machine tools and what the Indian machine tool sector is able to produce if the dependence on imports is to ...

WTO: WTO on hold
Given the lack of political consensus currently plaguing the Doha Round negotiations, it would have been surprising if the proposed WTO Ministerial meeting had been held this week. In fact, as much was conceded by the Director-General, Mr ...

TERRORISM: World surprised at maturity of India’s reaction, says Amartya Sen
New Delhi, Dec. 18 India’s mature reaction, post the Mumbai terror attacks, has surprised the world, said renowned economist, Dr Amartya Sen. The Nobel laureate was speaking at an event of the Aspen Institute India (AII), an ...

EVENTS: Shareholder activism gaining ground, says Adi Godrej
Mumbai, Dec. 17 Satyam’s decision to call off its $1.6-billion twin deals highlights the importance of investor activism in India and also questions the role of independent directors on the boards of listed ...

EXPORTS & IMPORTS: Russian ban adds to cashew export woes
Kochi, Dec. 18 Not a single tonne of cashew kernels has been exported to Russia so far during the current year because of the ban on select agricultural products ...

HUMAN RESOURCES: India Inc sees trimming salary increases in 2009: Survey
Bangalore, Dec. 18 Corporate India admits it’s happening. In a Mercer survey of over 100 companies across 20 sectors in the country, companies have conceded that workforce reduction would occur and hiring would become more selective ...

SECURITY: CII Security Forum unveiled
Bangalore, Dec.18 A single national emergency response number throughout the nation, nano-tag embedded electoral IDs to prevent duplication and an integrated system to process information on real-time basis are some of the ideas currently in ...

REAL ESTATE & CONSTRUCTION: Realty cos seek further cut in home loan rates
New Delhi, Dec. 18 Real estate companies on Wednesday asked the Government to cut interest rates on home loans further, extend incentives for home loans of up to Rs 30 lakh, and restructure debt of developers, to boost housing ...

INDUSTRY ASSOCIATIONS: CII to begin skill programme soon in TN
Chennai, Dec. 18 The Tamil Nadu State Council of Confederation of Indian Industry (TN-CII) will soon commence the first batch of the skill development ...

SSI: Andhra Bank cuts rates for MSMEs
Hyderabad, Dec. 18 In order to provide relief to the micro, small and medium enterprises sector, Andhra Bank has announced a reduction of interest rates to micro industries by 100 basis points and small and medium enterprises by 50 basis ...

TEXTILES: Textile industry cut up with Ministry
Chennai, Dec. 18 “Is our Textiles Minister listening, at least now? What is his accountability?” These are very telling statements contained in a background paper presented to the press by the Apparels and Handloom ...

INDUSTRY ASSOCIATIONS: ‘RBI measures yet to make an impact’
Coimbatore, Dec. 18 The slew of measures announced by the RBI to improve liquidity and reduce lending rates have failed to make an impact because of the conservative approach of the public sector banks (PSBs), according to the Indian Chamber ...

SSI: SBI cuts rates for MSMEs
State Bank of India has reduced the interest rates for working capital loans to micro, small and medium enterprises (MSMEs) between 50 and 100 basis points, with immediate effect. With this reduction, micro enterprises and small scale ...

MINING & QUARRYING: Changes in mining allotment policy
The amendments to the Minerals and Metals (Development & Regulations) Act are likely to include a provision that the Centre will allot mining blocks with prior environmental clearance. As of now the Centre allots mining blocks on ...

REAL ESTATE & CONSTRUCTION: DLF Homes super luxury project
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EVENTS: Meet on better biz practices
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