The Hindu Business Line : Friday, February 06, 2009

INDUSTRY & ECONOMY

PETROLEUM: Reliance, ONGC agree to share drilling rigs
Bid to cut cost, overcome rig shortage. New Delhi, Feb. 5 In a move that could be seen as achieving two objectives with a single effort, hydrocarbon majors Reliance Industries Ltd (RIL) and ONGC have decided to share exploratory facilities such ...

RURAL DEVELOPMENT: Shining in rural India
A BPO in Tirupati town has proved to be a magnet for youngsters from the surrounding villages for whom the job is turning out to be a life-changing experience.. It is a swank air-conditioned office like the several thousands of facilities that ...

TRAVEL & PLACES: Welcome, but...
Are our easily available and long-stay tourist visas encouraging prodigal guests to overstay?. Just after the terror attack in Mumbai, the District Magistrate in Chakia, Uttar Pradesh, ordered 11 foreigners, belonging to four different ...

ECONOMY: ‘India unlikely to get access to ADB’s soft loan window’
ADB to meet increased needs of developing Asian economies. New Delhi, Feb. 5 India and China are unlikely to get access to the interest-free and long-term loans from the Asian Development Bank (ADB) even at this juncture of global financial ...

BUDGET: AP vote-on-account budget hikes power, rice subsidy
Most sectors witness lower allocation. Hyderabad, Feb. 5 Factoring tough global and macro economic conditions, the vote-on-account budget presented in the Andhra Pradesh State Legislature today cut down on plan allocation for various sectors ...

POWER: Kerala plans 3,500 MW additional power generation capacity
Thiruvananthapuram, Feb. 5 The Kerala Government has drawn up a ten-year perspective plan for the power sector that envisages addition of new generation capacity to the tune of 3,500 ...

COURTS/LEGAL ISSUES: HC upholds students’ contention
A division Bench of the Calcutta High Court, comprising Chief Justice, Mr S.S. Nijjar, and Mr Justice Dipankar Datta, on Thursday upheld the contention of students who were unhappy with the marks given to their answer-scripts by examiners. ...

EVENTS: Contest for students on corporate affairs
Dr Lankapalli Bullayya College here has instituted the V.B.V Reddy Award for knowledge in corporate affairs, which is open to all students in all branches in Visakhapatnam, according to a press release. The competition will be conducted from 11 ...

EXCISE AND CUSTOMS: ‘Make Madurai airport a Customs airport’
The Tamil Nadu Chamber of Commerce and Industry has urged for the immediate declaration of Madurai airport as Customs airport. In an appeal to the Union Finance Minister, Mr Pranab Mukherjee, the Chamber has pointed out that with the delay in ...

POWER: Meet on trading in electricity
Annamalai Capital Services (P) Ltd, Coimbatore, is organising a meeting here on Friday on ‘how to buy/sell electricity power through IEX Ltd.’ Mr Rajesh K. Mediratta, Vice-President, Indian Energy Exchange Ltd, New Delhi, will speak ...

REAL ESTATE & CONSTRUCTION: Hiranandani faces penalty, denies land misuse charge
Mumbai, Feb. 5 In what could be the highest penalty imposed on a builder for alleged gross violation of land misuse, the Mumbai Metropolitan Region Development Authority (MMRDA) has recommended to the state urban development department ...

EXPORTS & IMPORTS: Exports likely to fall short of target by $25 b
New Delhi, Feb. 5 The country’s export juggernaut is visibly slowing down. The quick estimates of export receipts for the first 10 months of the current fiscal confirm that the merchandise exports would run substantially short of ...

REAL ESTATE & CONSTRUCTION: Service tax clarification may lower property prices, says CREDAI
Mumbai, Feb. 5 The residential property segment could see a relief in prices of 7-11 per cent following the clarification issued by the Union Finance Ministry on ...

REAL ESTATE & CONSTRUCTION: US-based Indian builder eyes unfinished realty projects
Coimbatore, Feb. 5 A Houston (US) based real estate developer of Indian origin, who is implementing a high-end apartment project in Coimbatore, has zeroed in on taking over stalled realty projects in Chennai and Mumbai to expand his footprint ...

EXPORTS & IMPORTS: ‘Credit for exporters in foreign currency to be dearer’
Mumbai, Feb 5 The Reserve Bank of India on Thursday announced a host of measures to alleviate the problems faced by banks. Among others, the measures include making credit for exporters in foreign currency dearer by 250 basis points, doubling ...

EXPORTS & IMPORTS: Oilmeal exports drop in Jan on poor demand
Chennai, Feb. 5 Oilmeal exports from the country dropped in January on poor demand and emergence of South America as a serious competitor in the global ...

INCOME TAX: Centralised processing centre for I-T returns in Bangalore okayed
New Delhi, Feb.5 The Union Cabinet has approved the proposal of the Income-Tax department to establish a centralised processing centre (CPC) at Bangalore for processing all electronically filed returns in the country and paper returns ...

EVENTS: Sustainable development
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EDUCATION: NIT Karnataka fest to focus on engineering, biz events
Mangalore, Feb. 5 The technical festival of Surathkal-based National Institute of Technology Karnataka (NITK) — ‘Engineer 2009’ — will be held at Surathkal in Mangalore taluk from February 12 to ...

INCOME TAX: I-T Dept looking at past TDS claims of Satyam
New Delhi, Feb. 5 The income-tax department is investigating into various aspects of the Satyam Computer Services scandal including the one on possible fictitious or inflated claim of tax deduction at source (TDS) relating to ...

EVENTS: IFMR biz fest from Saturday
Chennai, Feb. 5 Abhyudaya 09, the annual business festival conducted by the Institute for Financial Management and Research (IFMR), is to be held on February 7 and 8 ...

PEOPLE: U.P. Agarwal is ICAI President
New Delhi, Feb 5 The Institute of Chartered Accountants of India (ICAI) has a new President in Mr Uttam Prakash Agarwal. He assumed office of the President here today. At the council meeting today, Mr Amarjit Chopra was elected as the ...

MEDICAL INSTITUTIONS & HOSPITALS: AIIMS-like body soon in UP, Bengal
New Delhi, Feb. 5 The Cabinet has approved the proposal to set up two medical institutions on the lines of the All-India Institute of Medical Sciences in Uttar Pradesh and West ...

ECONOMY: Food price threat remains serious
Bangalore, Feb. 5 In its third quarter review of monetary policy, the Reserve Bank of India has downplayed the threat posed by persistent food price inflation. It has said that wholesale price inflation, ruling at 5.6 per cent, will moderate ...