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Thursday, July 18, 2002
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INDUSTRY & ECONOMY

ANTI-DUMPING


Anti-dumping probe on Chinese silk imports
THE Designated Authority in the Commerce Ministry has initiated anti-dumping investigation into import of mulberry raw silk (not thrown) originating in or exported from China. In an initiation notification issued here today, the Authority has ... More

ECONOMY


Clouds over crop area — Kharif sowing toll heaviest for soya
The country may have to import substantial quantities of pulses and edible oils this year to meet its consumption requirement, which even in normal years exceeds indigenous output. More

Focus on Pondicherry — Resourceful plans
Faced with a loss of revenue due to the switch over to the uniform floor rate of sales tax, the Pondicherry Government is banking on tourism and information technology to help it generate additional resources. "The Centre asked us to switch ... More

`Monsoon delay may hit rural markets'
WHILE the truant behaviour of the southwest monsoon is expected to inevitably result in a setback to kharif crop prospects, a significant negative impact on the incipient industrial and economic recovery is seen emerging. According to Mr K. ... More

Improving the industrial climate
The Pondicherry Government has taken a conscious decision to encourage the knowledge-based and other environmentally friendly industries. While the existing industries welcome this move, the old economy industries are disappointed that the focus ... More

ENVIRONMENT


IBRD approves $108-m credit for forest project in AP
THE World Bank has approved a $108.2-million credit to support a project which seeks to help poor people living in and around the forests of Andhra Pradesh. The Andhra Pradesh Community Forest Management Project to be implemented in 14 of the ... More

HEALTH


Bengal seeks IBRD aid for tertiary medical system
THE West Bengal Government has approached the World Bank for funding a Rs 100-crore project for development/ upgradation of the tertiary medical system. Mr Surjya Kanta Mishra, Minister for Health and Family Welfare, said at a meeting organised ... More

INFRASTRUCTURE


L&T keen on drainage project in Coimbatore
L&T officials have said they would firm up their proposals in about four weeks and present it to the Corporation. More

PETROLEUM


IOC to be sole supplier to Gujarat port SEZ
INDIAN Oil Corporation Ltd (IOC) has signed a memorandum of understanding with Gujarat Positra Port Infrastructure Ltd (GPPIL) for becoming the sole supplier of petroleum products to the proposed special economic zone. The MoU was signed by Mr ... More

  • 16.34-lakh LPG connections released under ``Deepam Scheme''

    PHARMACEUTICALS


    Drug cos seek `clarity' in Patent Act rules
    ALL is not quiet on the Patents (Second) Amendment Act 2002, as far as MNC-drug companies are concerned. They have sought "clarity'' from the Union Commerce Ministry, on issues mentioned in the Act, in the rules that would be framed subsequently ... More

    3 IISc proteins for Cadila, Shantha Biotech
    THREE recombinant therapeutic proteins are in the making at the Indian Institute of Science, Bangalore, and are shortly to be transferred to two domestic pharma majors for further trials. Two of them, the human chorionic gonadotropin (hCG) and ... More

    POWER


    Kerala Govt warns erring KSEB officials
    THE Kerala Electricity Minister, Mr Kadavoor Sivadasan, has said that the State Government would not hesitate to pack off erring officials of Kerala State Electricity Board (KSEB) who have been found consistently creating hurdles in the way of ... More

    AP Govt steps up efforts to streamline power supply
    The Chief Minister, Mr N. Chandrababu Naidu, told the Assembly that while power generation has come down due to low reservoir levels, demand has shot up due to delayed onset of monsoon necessitating corrective measures. More

    TAXATION


    Taxing problems
    With the shift towards uniform floor rates of tax and the Value Added Tax regime expected to be introduced in April 2003, Pondicherry, is fast losing its primary feature — low rates of tax that attracted investments by the industry. With a ... More

    SSI


    Draft Bill seeks to set up board for small sector
    THE draft on Small Enterprises Development Bill, 2002, currently under the consideration of the Union Government, provides for establishment of a National Small Enterprises Development Board with headquarters at Delhi. The Minister for ... More

    Karnataka SSIs plead against monthly payment of interest
    THE Karnataka Small Scale Industries Association (KASSIA) has urged the Reserve Bank of India (RBI) to withdraw the circular which asks banks to calculate interests on SSI units' borrowings on a monthly basis. This has come as a burden to ... More

    REAL ESTATE & CONSTRUCTION


    Construction majors expected at Excon
    EXCON 2002, CII's second edition of the construction equipment meet, will be held here in December. The event Chairman, Mr Sarosh J. Ghandy, MD, Telco Construction Equipment Co Ltd, today said the biennial exhibition-cum-conference could become ... More

    `Reduce fee for regularisation of buildings'
    THE Tamil Nadu Chamber of Commerce and Industry here has appealed for refixing of regularisation fees and extension of time for submission of application for regularisation of buildings constructed without proper plan approval in Madurai ... More

    TRADING


    Mumbai wholesalers' bandh tomorrow
    THE wholesale traders of Mumbai and Navi Mumbai will observe a one-day token bandh on July 19 seeking Government intervention on the issue of resale-tax and `abnormal' hike in Octroi duties. The Federation of Associations of Maharashtra (FAM), ... More

    DISINVESTMENT


    Punjab gets down to disinvestment
    THE Punjab Government has finally decided to set the ball rolling with regard to the disinvestment of its stake in select public sector enterprises. These include Punjab Tractors Ltd, Punjab Communications Ltd and Punjab Alkalies & Chemicals ... More

    FOREIGN DIRECT INVESTMENT


    USIBC team to explore scope in Kerala
    A major highlight was holding talks with the top officials of Rolls Royce Engine Services on the possibility of establishing an aircraft maintenance facility, at a cost of around Rs 8,000 crore, at the Nedumbassery airport. More

    INTERVIEW


    ICFAI centre lead provider for European case club
    THE Icfaian Centre for Management Research (ICMR), an affiliate of the Institute of Chartered Financial Analysts of India (ICFAI), the Hyderabad-based premier management education establishment, has achieved a record in the Indian management ... More

    EVENTS


    Exhibition of Thai products
    THE Thailand Exhibition 2002, which will showcase a range of products and services from Thailand will open at Chennai Trade Centre from July 19 to 21. According to a press release, this exhibition will have 29 companies representing 12 products ... More

  • Hyderabad Engagements

    INCOME TAX


    1.63 lakh new I-T assessees in Karnataka, Goa
    AS many as 1.63 lakh new assessees have been added to the income-tax payers' list in Karnataka and Goa circle on the basis of the economic criterion of ownership of assets and expenses stipulated by the Government. Though the Income Tax ... More

    TOURISM


    KUIDC to fund 2 tourism infrastructure projects
    The renewed efforts by the Government through Jungle Lodges come in the wake of Bangalore being chosen as the new gateway by four international airlines — Royal Nepal Airline, Malaysian Airline, Lufthansa and lately SriLankan Airlines. More

    ECONOMIC OFFENCES


    DCA expands probe into Xerox Modicorp — Moves CLB to look into fraudulent dealings
    THE noose is tightening around Xerox Modicorp Ltd with the Department of Company Affairs (DCA) today widening its ongoing probe by moving the Company Law Board (CLB) to seek its assent to investigate whether the company had indulged in fraudulent ... More

    I-T Department conducts raids
    THE Income-Tax Department has conducted raids in several offices of Xerox Modicorp for alleged tax evasion. The income-tax raids on 26 premises of the Xerox Modicorp comes a fortnight after the US-based Xerox Corporation's filing to the US ... More

    Intelligence unit to check funding of terrorists
    INDIA today said that it has set up a financial intelligence unit (FIU) to check the menace of funding terrorists. The unit, to be headed by the Revenue Secretary, will coordinate amongst various intelligence agencies of the country and global ... More


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