The Hindu Business Line : Friday, June 12, 2009

INDUSTRY & ECONOMY

PETROLEUM: Reliance, Essar Oil keen on lifting Cairn’s Mangala crude
In talks with Petroleum Ministry. Hyderabad June 11 Private refiners such as Essar Oil and Reliance are in talks with the Petroleum Ministry and Cairn Energy to lift a portion of Cairn’s Mangala crude in Rajasthan, which is expected to ...

BUDGET: Pranab asks States to quickly resolve pending issues on GST
New Delhi, June 11 The Union Finance Minister, Mr Pranab Mukherjee, on Thursday urged all the Chief Ministers and Finance Ministers of States to “expeditiously” resolve the pending issues concerning goods and services tax ...

EMPLOYMENT: Belgaum fair: Entry-level jobs unaffected by slowdown
About 1,160 of the 9,000 job seekers that participated in a ‘Livelihood Mela,’ organised at Belgaum walked away with permanent job offers on Sunday ...

PHARMACEUTICALS: Feb pharma exports up 36.7%
Export of pharmaceutical goods grew by 36.7 per cent in February 2009 at Rs 3,269 crore compared with Rs 2,391 crore in year-ago period, according to data released by Pharmaceuticals Exports Promotion Council (Pharmexcil). In dollar terms, ...

FERTILISERS: Sailesh Mehta re-elected Chairman, FAI, Western region
Mr Sailesh C Mehta, Vice-Chairman and Managing Director, Deepak Fertilisers and Petrochemicals Corporation, was re-elected Chairman of The Fertilisers Association of India (FAI) — Western Region for 2009-10 at the 49th annual meeting of ...

ECONOMY: States seek relaxation in fiscal deficit ceiling for 2009-10
States today sought relaxation in the ceiling of the fiscal deficit they can run up in 2009-10 so that they can spend more on infrastructure and social programmes. Their demand on more leeway for increased social and infrastructure ...

POWER: Karnataka Power takes SPV route for interstate project
Bangalore, June 11 The state-owned Karnataka Power Corporation (KPCL) has taken the special purpose vehicle route for implementing the 1,200 MW interstate power ...

PHARMACEUTICALS: India asks China to take action on fake drugs issue
Spurious drugs from China have ‘Made in India’ tag. The Indian Commerce Ministry has told the Chinese Ambassador in India to take action against those who were selling fake drugs in Africa under “made in India” ...

CLIMATE & WEATHER: Delayed monsoon may hit sugarcane yield
Pune, June 11 The yield of sugarcane in Maharashtra during the 2009-10 crushing season may be hit in case of a further delay in the onset of ...

NATURAL CALAMITIES: Fresh, restructured loans for cyclone victims in Bengal
Kolkata, June 11 Banks in West Bengal are planning to provide fresh loans and restructure existing loans of the people affected by the recent cyclone Aila, which hit the State on May ...

TAXATION: New TDS scheme is impractical: MCCI
Chennai, June 11 The Central Board of Direct Taxes (CBDT) recently brought in a few changes in relation to ‘tax deduction at source’, which, according to the Madras Chamber of Commerce and Industry (MCCI) is “impractical ...

GEMS & JEWELLERY: Jewellery exports getting back some shine
Mumbai, June 11 Gem and jewellery exports seem to be on the revival path. Gold jewellery exports in May registered a growth of 158 per cent at Rs 3,911 crore against Rs 1,513 crore in April. In dollar terms, jewellery exports were up 160 ...

AUTOMOBILES: Revival focus
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EVENTS: Sharing ideas
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AUTOMOBILE COMPONENTS: Ambattur auto units seek help from Italy via CII-UNIDO
Chennai, June 11 Auto component manufacturers in the Ambattur Industrial Estate have sought the Italian Government’s support for investments and technology through a United Nations Industrial Development Organisation (UNIDO) ...

TAXATION: Goa cuts luxury tax
Panaji, June 11 The Goa Government has restructured the rates and consequently reduced luxury tax to give a major boost to the tourism sector facing adverse impact of ...

STEEL: Revival to start by year-end, says OECD Steel Committee
Mumbai, June 11 The global steel market stands battered by economic slowdown. Falling demand, burgeoning inventory and collapsing prices became the defining features of the industry in the second half of 2008. Conditions are no better now, ...

SSI: Cheaper credit for MSMEs
KOLKATA: Mr A. Sakthivel, President, Federation of Indian Export Organisations (FIEO), in a statement, said that a reduction in prime lending rate by 50 to 75 basis points by banks might bring about a corresponding reduction ...

FOREIGN TRADE: India, China collaboration can turn downturn into opportunity: Report
Macau, June 11 Luxury brands; gems and jewellery; media and entertainment; health and wellness; and tourism are some of the sectors where India and China can collaborate, says a FICCI-KPMG ...

ECONOMY: UPA’s dilemma of reviving growth and accentuating fiscal deficit
New Delhi, June 11 With the UPA Government unequivocally committing itself to spending more public resources in its second stint on its plethora of flagship programmes, the Prime Minister, Dr Manmohan Singh’s assurance to Parliament on ...

ECONOMIC OFFENCES: Rs 2-cr tax evasion discovered
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MEDICAL INSTITUTIONS & HOSPITALS: Paediatric care unit in Mangalore
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TAXATION: Seminar on tax laws
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Columnists: • B Venkatesh • C Gopinath • Bhanoji Rao • P.V. Indiresan