Financial Daily from THE HINDU group of publications
Wednesday, February 13, 2002
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INDUSTRY & ECONOMY

ECONOMY


Industrial growth hits fiscal year low of 1.6% in Dec
THE country's industrial output has registered its lowest growth rate for the current fiscal, at 1.6 per cent during December. This is as against a growth of 3.6 per cent recorded during the same month of 2000-01. According to the latest ... More

ENVIRONMENT


Greenpeace seeks further study of samples -- Importer awaits test report on WTC scrap
IS the steel scrap from the World Trade Center (WTC) debris, unloaded at the Chennai Port in January, contaminated with toxics, or is it as safe as any other steel scrap import? While the importer of the consignment is awaiting the result of ... More

PHARMACEUTICALS


Karnataka pharma body aims to double turnover in 5 years
KARNATAKA'S strong but silent pharma industry is reinventing itself with a new vigour and focus. Its aim now is to nearly double the turnover and exports in five years and put the State firmly on the world pharma map. With the right policy ... More

Brandbuilding to prove costly for pharma cos?
WILL brandbuilding prove costly for Indian pharmaceutical companies in the future? It seems so going by the indications given by the Government in its recent announcement on drug price policy. Accordring to analysts, the new policy encompasses ... More

PLASTICS


Call to cut ST on plastic cans
THE Tamil Nadu Chamber of Commerce and Industry has pleaded for rejuvenation of the plastic cans industry in the State through a reduction in the rate of sales tax from 12 per cent to four per cent. In a request to the State Minister for Rural ... More

POWER


Kerala likely to get Austrian investment
KERALA, which is shifting the focus back on to hydel power generation, may well be in line to get Austrian expertise to set up a series of small hydel projects. The Austrian Trade Commissioner, Dr Sepp Dabringer, who met the Chief Minister, Mr ... More

STEEL


Capacity closures dominate OECD steel meet
CAPACITY closures, financing closures and restructuring, and strengthening disciplines on Government interventions and market distortions in steel dominated the two-day high-level meeting on steel organised by the Organisation for Economic ... More

Focus on retail, industry told
THE steel industry, which is reeling under poor demand and capacity glut, should look beyond stockyards and start retailing its products, according to Mr M.K. Moitra, Director (Personnel and Corporate Planning), SAIL. Speaking at the ... More

Steel sector seeks support of FIs, Govt
THE Indian steel industry has sought the support of financial institutions (FIs) and the Government, as it launches its first-ever efforts at consolidating capacities. Describing consolidation as a structural issue, Mr B. Muthuraman, MD, Tata ... More

SUGAR


Sinha speculates on sugar futures
JUST as students suddenly wake up before the examination to the fact that they are not prepared for the test, the Finance Ministry too finds itself short of time to fine-tune things when the Budget is around the corner. It remains preoccupied ... More

TEXTILES


Squeeze in margins: Textile spinners bear brunt in Q3
THE performance of the textile spinning mills during the third-quarter in the 2001-2002 fiscal has proved agonising for most major players as their working results have left them bleeding more than they did in the first two quarters. In a sharp ... More

Abduction of industrialist stuns Tirupur
THE abduction of a textile industrialist from Tirupur and subsequent extortion of money from him have sent shockwaves among the textile entrepreneurs here. The abductors, believed to be a professional gang from Chennai, are said to have ... More

WATER MANAGEMENT


IBRD-aided rural water supply project launched
A Rs 1,035.37-crore participatory rural water supply project funded by the World Bank has been launched here to cover 11 northern districts of Karnataka. The bank is providing Rs 810.77 crore (78.37 per cent) of the cost of the State's second ... More

DISINVESTMENT


PPL to set norms for sick PSUs
With the exception of Modern Food Industries Ltd, the Government has been tackling only profit-making PSUs for disinvestment so far. More

Anxious Paradeep staff await verdict
DISCONTENTMENT has been partly replaced by suspense among the employees of the Paradeep Phosphate Ltd (PPL) on Tuesday, as they wait with bated breath for news from New Delhi regarding the imminent privatisation of the company. The Cabinet ... More

Govt, Suzuki discuss Maruti rights issue
ANOTHER big-ticket disinvestment appears to be around the corner with the Union Government initiating on Tuesday talks with the representatives of Suzuki Motor Corporation (SMC) for part-offloading its holding in Maruti Udyog Ltd through a Rs ... More

Disinvestment to cut deficit
THE disinvestment rush is on. The Government does not want to be caught holding shares in public enterprises at Budget time, which it had promised to divest long ago. Budget time is also fudge time. The fiscal deficit has to be somehow brought ... More

Air India draws up plans to utilise HCI proceeds
AIR India, which hopes to record a profit of more than Rs 21 crore during 2001-02, proposes to utilise the funds from the disinvestment of Hotel Corporation of India (HCI) for product upgrade, information technology, repayment of working capital ... More

REGULATORY BODIES & RULINGS


Cost Audit Report Rules promulgated
THE Department of Company Affairs (DCA) has issued a notification promulgating the Cost Audit Report Rules, in supercession of the Cost Audit (Report) Rules, 1996, while protecting action taken under the 1996 Rules. The new rules, which come ... More

EVENTS


`Technology, efficiency must for survival'
INDUSTRIES will have to set themselves new goals and continuously enhance competitiveness to survive, according to Mr Suresh Krishna, Chairman, TPM Club of India. Addressing the Fifth Anniversary of TPM Club India and the second TPM Conference ... More

EXPORTS & IMPORTS


Are controls back in exim trade?
The retrograde step is described variously - monitoring, regulating or, more simply, promoting trade. Call what you may, but the effect is clear. For private trade, the degrees of business freedom are sought to be curtailed. More
Comments & Letters to the Editor to: bleditor@thehindu.co.in

Top Stories
PPL to set norms for sick PSUs


Rashtriya Chem eyes 74% stake in SAIL unit

Softwares cos see downtrend in staff costs

IA hikes fares on most sectors

Rice exports gain pace -- Indonesia to buy one million tonnes

Open offers up despite fewer M&A deals

Industrial growth hits fiscal year low of 1.6% in Dec

Motor risk premiums to go up from April

In Depth
Inside Kashmir
Guide to derivatives
US-64
Looking back
Feb. 3-Feb. 9
Bonanza awaits Govt on VSNL, IBP sell-off

Non-captive iron ore segment -- Need for external marketing freedom

Govt may allow FDI in tobacco sector

E&Y taps India's `bio-economy'

Rules of origin for textile, apparel goods -- India drags US to WTO again

E-com deals may be kept out of I-T net

Some home truths about Chinese threat

PSU loan pre-payments come as boon to Govt

Duncans Industries revamp -- A challenging task ahead

Power Ministry draws up 6-level strategy

Public sector weathers investment famine

Indian Oil set to acquire IBP

Software exports up 25 pc in Q3: Nasscom

Restructure State finances or perish: Chelliah

Tatas pocket VSNL for Rs 1,439 cr, IOC gets IBP

Grain curbs off, sugar freed, new policy for drug sector

Tatas hit jackpot with VSNL

GDP growth estimated at 5.4 pc -- Agriculture, services come to the rescue

IBA directive gives a fillip to CV financing

Hotels post 60 pc drop in forex earnings

Tanners face uncertainty as relocation deadline nears

Pay hikes seen hitting rock bottom: Survey

Zuari-Chambal bids for Paradeep Phos

Defaulting States may get lower power allocation


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