Agriculture
Wheat export quota set at 50 l.t. -- To be priced slightly higher than BPL rates
A TOTAL quantity of 23.44 lakh tonnes (l.t) of wheat has been exported from the country till end-May, this year.
Airlines
Visit of Air France MD creates interest
THE day-long visit of the Managing Director (Asia-Pacific region) of Air France, Mr M.J. Male, to Delhi on Tuesday is creating a lot of interest in aviation circles.
IA scouting for partner to acquire new aircraft
INDIAN Airlines (IA) which has registered an annual growth of 4.7 per cent despite losses is intent on acquiring new aircraft to spread its wings farther but the limiting factor is the huge investment of Rs 9,000 crore needed for the purpose, Mr V.P. Aro
ra, Deputy Managing Director, has said.
AI may lease Airbus A-310 from Rolls Royce
AIR India (AI) is likely to lease its fifth Airbus A-310 from the aircraft leasing arm of Rolls Royce, Pembroke, although the entire process is likely to be completed only after the Paris Air Show ends on June 24.
Banking and Finance
Exim mulls bank tie-ups for growth
EXIM Bank is mulling tie-ups with several regional commercial banks in an effort to provide exporters both working capital and term loans through a single window.
ICICI Bank gets shareholder nod for FII ceiling
THE shareholders of ICICI Bank have approved a proposal to hike the bank's foreign equity holding up to 49 per cent of its paid-up capital. With today's approval at the annual general meeting (AGM) held at Vadodara, the bank will now seek RBI approval fo
r the same.
Coal
Naidu urges Singareni miners to resume work
THE miners of Singareni Collieries Company Ltd (SCCL), who have struck work from Saturday following failure of talks with the Government and company management, have been called upon by the Andhra Pradesh Chief Minister, Mr N. Chandrababu Naidu, to reaso
n out matters and resume work.
Corporate
BP Amoco asked to make open offer for Foseco
THE Securities and Exchange Board of India (SEBI) has directed BP Amoco Plc. to make an open offer for Foseco India Ltd (FIL), a subsidiary of Burma Castrol Plc., within 45 days.
Small is beautiful for Aquafina too
SMALL is where the action is, at least in the packaged water segment, with Aquafina, the water-brand from the Pepsi-stable, also entering the 500-ml segment last week.
Economy
Parliamentarians oppose overloading WTO agenda
PARLIAMENTARIANS have voiced serious concerns over the attempts of some trading partners to overload the World Trade Organisation (WTO) agenda with a number of subjects such as investment, competition policy, transparency in Government procurement.
Food & Dairy Products
Kerala milk federation to launch quota system
THE Kerala Cooperative Milk Marketing Federation Ltd. (Milma) has decided to lift the temporary ban imposed on milk procurement and introduce a quota system in its place.
Health
Global meet on reproductive health commodities
AN international conference to discuss the growing unmet demand for essential reproductive health commodities, the serious shortages in the supply of contraceptives and the spiraling price rise for healthcare products is scheduled to be held here from Ju
ne 12-14.
Information Technology
Silverline integrates SeraNova Australia
SILVERLINE Technologies Ltd today announced that as part of the global integration of SeraNova into Silverline, it has completed the integration of SeraNova's Australian subsidiary.
Petroleum
Oil India plans experimental drilling at Brahmaputra bed
THE Oil India Ltd (OIL) proposes to start experimental drilling for crude oil in the bed of the Brahmaputra river in Upper Assam by the end of the current year.
Pharmaceuticals
SEBI ruling on German Remedies open offer soon
THE Securities and Exchange Board of India (SEBI) is likely to issue a reasoned order on the German Remedies open offer case shortly. The capital markets regulator today heard the parties involved in the case.
Power
Look-back at Dabhol
There was a time, not too long ago, when the saying `No power is costlier than no power' was on the lips of every power reformer. The credit for coining and popularising this maxim in the initial years of reforms must go to the then Union Minister for Po
wer, Mr N.K.P. Salve.
Rubber
Remove natural rubber import ban under ALS
CLOSE on the heels of the letter from the Kerala Chief Minister, Mr A.K. Antony, urging the Centre to desist from lifting restrictions on import of natural rubber (NR) through advance licence scheme (ALS), the domestic tyre manufacturers have reiterated
their plea to the Commerce Ministry that the existing ban on import of NR under the ALS be removed.
States
It's schooltime folks
The first day of school is not a happy thing for every child. While mothers might heave a sigh of relief after a long, punishing summer holiday made worse by TV and video games, for most children it is drudgery all over again. Is plugging the ears a solu
tion?
TECS asked to update Cauvery scheme report
THE city's water utility has asked for an updated feasibility report from TECS (Tata Economic Consultancy Services) of the second phase of its ongoing Cauvery scheme stage four. The report is expected in about two months.
High Court quashes TN order on sales tax incentives
THE Madras High Court has quashed a Tamil Nadu Government Order which introduced fresh conditions for industrial units to be eligible for sales tax incentives.
Stocks
CSE panel member quits
KOLKATA, : Mr Roopen Roy of PricewaterhouseCoopers, a public representative on the Calcutta Stock Exchange governing committee, on Monday resigned from the 11-member committee.
CSE sets date for rolling settlement
THE Calcutta Stock Exchange (CSE) has come out with its rolling settlement calendar. In a notice issued today, CSE has asked members to note that all scrips currently in its Group A would be traded compulsorily in rolling settlement from July 2.
Taxation
Panel endorses VAT design
NEW DELHI: The Empowered Committee of the State Finance Ministers chaired by Dr Asim Dasgupta on Monday endorsed the Value Added Tax (VAT) design that is expected to be in place in all States from April 1, 2002.
Telecommunications
Operators ready to wait for limited mobility
THE Madras High Court decision, ordering the Department of Telecommunications (DoT) to maintain status quo on the issue of limited mobility for four weeks, has not unduly worried the operators who had applied for the service.
Airtel cuts rates
TAKING the cue from Essar Cellular which recently announced new talk plans for its subscribers, Airtel the second private cellular operator in Delhi has announced a `dream plan' with much lower tariffs.
Refund excess charges on ISD calls: TRAI
THE Telecom Regulatory Authority of India (TRAI) has directed all cellular service providers to refund to their subscribers, excess charges, if any, levied for international calls on Sundays and national holidays.
CPP will reduce call cost: COAI
THE Cellular Operators' Association of India (COAI) has welcomed the initiation of the consultation process by the Telecom Regulatory Authority of India (TRAI) for considering the introduction of calling party pays (CPP) regime for cellular mobile servic
es.
Implement NTP'99 `in letter and spirit': HC
THE Madras High Court has directed the Department of Telecommunications (DoT) and the Telecom Regulatory Authority of India (TRAI) to ``implement the New Telecom Policy, 1999 in its letter and spirit.''
Textiles
Duty drawback rationalisation -- Garment exporters fear cash-flow may be hit
THE drastic reduction in the duty drawback entitlements announced by the Government through rationalisation of DDB rates has made most of the garment exporters uneasy as they fear that the rate cut would lead to cash-flow problem for many.
