Agriculture
Playing traunt
The rain clouds that gathered over Chennai city a few days ago having gone away without much showers, fishermen pull their catamarans ashore.
Airlines
IA's Gulf sector net revenue at Rs 600 cr
INDIAN Airlines has earned a net revenue of Rs 600 crore on the Indo-Gulf sector in the 2000-2001 fiscal and introduction of new flights, including the Dubai-Hyderabad direct flights launched on Saturday, will definitely contribute to the Indian carrier'
s growth in the region, said Mr V.P. Arora, Deputy Managing Director of IA.
Coal
Singareni staff stir hits output
WITH the Singareni miners going on strike after their talks with the management and the State Government representatives, including the Chief Minister, Mr N. Chandrababu Naidu, failed to resolve the deadlock over their various demands,
Corporate
Non-executive directors -- Grasim to compensate through commission
GRASIM Industries Ltd (GIL), an Aditya Birla group company, intends to compensate its non-executive directors through payment of commission.
Economy
Govt may refinance costly external debt
THE Government is close to finalising a proposal to refinance part of its relatively expensive external debt to substitute it with cheaper debt.
Explanatory circular on transfer pricing soon
THE Finance Ministry plans to come out with a separate explanation justifying the rationale for introduction of some of the provisions -- which have evoked a mixed response from the industry -- in the recently-enacted legislation on transfer pr
icing.
Ratings may be made mandatory for State SPVs to raise funds
THE Government plans to initiate talks with the Reserve Bank of India shortly to make it mandatory for any authority or special purpose vehicle (SPV) promoted by the State Governments to get themselves credit-rated even for raising money from the market
through private placements.
Forex
Forex reserves up by $88 m
THE country's forex reserves have increased by $88 million to $42.912 billion for the week ended June 1, as compared to $42.824 billion in the previous week.
Information Technology
Bridge digital divide with e-commerce: CII
UNLEASHING e-commerce potential is crucial to building India's competitive advantage and transcending the digital divide, a report prepared by the Confederation of Indian Industry (CII) on `E-commerce in India' states.
Pharmaceuticals
Pharma cos gearing up for a new era
UP against global competition and imminent changes in patent laws, the domestic pharmaceutical industry has entered a phase of consolidation. There has been a slide in the number of pharma units, increase in research and development (R&D) investments and
slight rise in patenting.
States
`Declare N-E as tax-free zone'
ADDRESSING a two-day seminar on `North Eastern Industrial Policy', organized by the North Eastern Development Finance Corporation Ltd (NEDFi), the Chief Minister, Mr Tarun Gogoi, appealed to the Union Ministry of Commerce and Industry to consider the ent
ire north eastern region as a tax-free zone in view of the backwardness, infrastructure deficiency and tardy growth rate of SDP. He felt that the present system of designating specified areas and specified industries was not at all helpful.
KPTCL offers to reinstate financial security packages
IN an unexpected development, the Karnataka Power Transmission Corporation Ltd (KPTCL) has offered to reinstate some of the financial security packages including escrow cover.
MTN Comtrust to setup Info City in Kerala
THE Kerala-based MTN Comtrust Ltd is to set up an MTN Info City at Kuttikanam in Kerala's Idukki district involving an investment of Rs 200 crore.
Cricket fans in Coimbatore left in the lurch
THOUSANDS of sports fans in Coimbatore have become victims of the on going tussle between the Coimbatore District Cable TV Owners Joint Action Council and ESPN, Star Sports channels resulting in the Cable TV operators blacking out the two sports channel
s that telecast the on going cricket series in England and Zimbabwe.
PCS Aqua launches car refrigerators in AP
THE Chennai-based PCS Aqua Systems (P) Ltd, which is setting up a plant in collaboration with U-Long Ltd, a Taiwanese company to manufacture car refrigerators, launched its Tropicool range of utility car refrigerators in Andhra Pradesh.
Four-laning work on NH-7 begins
HYDERABAD: The Union Minister of State for Road Transport and Highways, Major Gen. B. khanduri, has laid the foundation stone for the four laning of a portion of Nagpur-Hyderabad section and Hyderabad-Bangalore section of National Highway-7.
Taxation
Finance Ministers' panel to endorse VAT design today
THE Empowered Committee of State Finance Ministers chaired by Dr Asim Dasgupta, will meet here on Monday to endorse the Value Added Tax (VAT) design that has been formulated by a committee of commissioners.
Telecommunications
Fourth cellular licence -- Operators protest low bandwidth
THE air waves are rife with protests from the ``potential'' fourth cellular operators in the four metros and 17 circles, bidding for which closes on the 29th of this month.
Textiles
Textiles export posts 8.6% growth
THE textile sector has recorded the best export performance over the last five years in fiscal 2000-01 by notching up a growth of 8.6 per cent at $14,470 million, against $13,324 million in the previous year.
Transport
Rly Ministry to relax volume discount scheme norms
THE Railway Ministry is set to relax norms for the volume discount scheme and lower the lumpsum rate for coal moved under the merry-go-round scheme (MGR) to step up freight traffic.
Tyres
Rolling to save
