Financial Daily from THE HINDU group of publications
Wednesday, October 02, 2002
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INDUSTRY & ECONOMY

RESEARCH & DEVELOPMENT


IICT initiative to produce synthetic aviation lube
A NATIONAL, multi-institutional initiative to produce synthetic aviation lubricants (SAL) indigenously for the domestic aviation industry on a funding of Rs 17 crore will be launched during October. The Indian Institute of Chemical Technology ... More

COURTS/LEGAL ISSUES


Fly in the carpets
THE taboo on the import of carpets, crockery, marble, and chandelier and so forth by `service providers' is off because of a benign circular from the CBEC Customs. Till recently, those providing `services' could not import these `consumer items' ... More

ECONOMY


Foreign investment is part of overall growth strategy
It is high time we look at the potential for FDI in grossly neglected sectors such as agriculture and food processing for world markets. More

`Drought-hit tag could affect revenue yield'
THE Tamil Nadu Finance Minister, Mr C. Ponnaiyan, has said that the State Government has not declared some of the worst drought hit districts as "drought affected" because it would have adverse impact on several areas including waiver of ... More

  • Cabinet approves reform policies

    FOREIGN TRADE


    India-EU meet to focus on three areas
    THE Prime Minister, Mr Atal Bihari Vajpayee, and the President of the European Union and Prime Minister of Denmark, Mr Andres Fogh Rasmussen, are to address the third two-day India-EU Business summit which begins in Copenhagen on October ... More

    Irish Commerce Minister coming
    THE Minister for Trade and Commerce of Ireland, Mr Michael Ahern, is arriving in India next week on a six-day visit in a bid to promote greater trade and investment ties between the two countries. Mr Ahern will be heading a large delegation ... More

    INFRASTRUCTURE


    Karnataka Udyog Mitra sanctions Rs 4,000-cr projects
    Udyog Mitra cleared projects worth Rs 10,000 crore in the last financial year. Almost 60 per cent of the total cleared projects have started taking shape in the State, he added. More

    PSU


  • Minister assures full support to Keltron

    PETROLEUM


    Naik hints at excise relief to cushion fuel price hike
    THE Union Minister for Petroleum, Mr Ram Naik, is awaiting the arrival of the Finance Minister, Mr Jaswant Singh, from abroad to discuss the important issues of adjustment of the excise duty on petrol and diesel to offset the recent increase in ... More

    LPG, kerosene subsidy costs IOC Rs 350 cr per month
    INDIAN Oil Corporation (IOC) is losing around Rs 350 crore every month on sale of LPG and kerosene through the public distribution system due to non-revision of product prices in the wake of high global crude prices, according to the IOC Chairman ... More

    Ethanol production from molasses — FCB-KCP brings Brazilian tech to India
    FCB-KCP Ltd has brought to the domestic market Brazilian technology for anhydrous alcohol production for blending in automobile fuel. Mr V.L. Dutt, Chairman and Managing Director, The KCP Ltd, the joint venture partner with Fives Cail, France, ... More

    PHARMACEUTICALS


    IICT process to help drugmakers
    IN an interesting laboratory-industry collaboration, the Indian Institute of Chemical Technology (IICT) has demonstrated an eco-friendly process that can break down the pollution causing methyl mercaptan, a by-product in the commercial production ... More

    POWER


    TNEB proposes hike in tariffs — Wants to end free power to farm sector
    THE tariff petition filed by the Tamil Nadu Electricity Board before the Tamil Nadu Electricity Regulatory Commission seeks an increase in tariffs for different categories of consumers. It suggests an increase of about 12 per cent for high ... More

    TNEB expects 12 pc rise in expenditure
    THE Tamil Nadu Electricity Board anticipates a 12 per cent increase in total cost this year over last year, and a 11 per cent increase in 2003-04 over 2002-03. In its annual revenue requirement, the TNEB has said that its costs — made up ... More

    TN: HT consumer segment shrinking
    CHENNAI: The total number of high tension industrial consumers will marginally decline in 2002-03 compared to last year. Consequently, the energy sold to them is also expected to come down. This could either be because some units have ... More

    Ride for a cause
    A toy train ride at the National Renewable Energy Park, which opened recently in Kochi, has introduced a unique concept in educating people about the significance of non-conventional energy ... More

    STEEL


    Lower power tariff for ferro alloy units in AP
    THE Andhra Pradesh Electricity Regulatory Commission (APERC) has approved fixing a separate tariff for ferro alloy units in the State as they have become unviable at the prevailing tariff rates. In its order, APERC has held that "ferro alloys ... More

    TAXATION


    VAT vital for growth: Chelliah
    SWITCHING over to value-added tax is important to Tamil Nadu for growth and competitiveness, according to Dr Raja Chelliah, Chairman, Madras School of Economics. For a State that is not rich in natural resources including water, efficiency ... More

    VAT implementation may not meet the deadline
    The issue dogging the States in the event of VAT implementation is the possibility of revenue compression especially in State sales/commercial taxes. Such taxes comprise almost 75 per cent of the States' internal revenue base, according to sources. More

    SSI


    SIDBI, SEDF sign MoU
    THE Small Industries Development Bank of India (SIDBI) and the South-Asian Enterprise Development Facility (SEDF) have signed an MoU to aid the development of small enterprises in North-East India. The MoU was signed in Washington by the SIDBI ... More

    TYRES


    Truck, bus tyre production up in July
    TRUCK and bus tyre production in the country zoomed in the month of July to touch a level of 8.42 lakh tyres, the highest production level recorded in this category during the first four months of the current fiscal. This category, which ... More

    WATER MANAGEMENT


  • Water levels down in major reservoirs

    RADIO/TV


    Now, game show on radio
    NOW, a game show on radio with the daily prize money running up to Rs 1 lakh. There's a catch however — the game show is exclusively for Mumbai's radio listeners. Radio City 91 FM, part of the Star TV Group, today announced the launch of a ... More

    REAL ESTATE & CONSTRUCTION


    Gurgaon, Noida to have more condominiums
    MAHINDRA Group's real estate division, Gesco Corporation Ltd, along with Bakshi Enterprises, have launched a Rs 200-crore residential project called Central Park in Gurgaon. The project, which will stretch over nearly 14 acres of land, will be ... More

    LEATHER


    Project to empower poor leather artisans
    THE Andhra Pradesh Government through the State Leather Industries Development Corporation (LIDCAP) is set to launch an innovative project — Malupu (a turning point) — which aims at capacity building and skill upgradation for the ... More

    INDUSTRY ASSOCIATIONS


    New Kassia President
    BANGALORE: The Karnataka Small-Scale Industries Association (Kassia) has elected Mr N. Jaya Kumar as its new President. Mr Jayakumar has held various responsibilities including the Presidentship of the prestigious Peenya Industries ... More

    Jayalingappa is FKCCI chief
    BANGALORE: Industrialist, Mr K. Jayalingappa, was elected the new president of the Federation of Karnataka Chambers of Commerce and Industry (FKCCI) at its recent annual general meeting here. Mr Jayalingappa has served as the ... More

    DISINVESTMENT


    PSU divestment brooks no delay
    Having taken a conscious decision to `exit' from the business of running an enterprise, except in strategic areas, the Government should not slacken the pace. Time is of essence. Any delay in executing the divestment plans through the `strategic' rou te could result in huge loss to the exchequer, says Uttam Gupta. More

    Raising capital from overseas markets — Nasdaq pitches in to get mandate for Nalco
    THE current stalemate over PSU disinvestment notwithstanding, Nasdaq has pitched in to get the Government's mandate for National Aluminium Company, the next big-ticket disinvestment candidate that might be willing to raise capital from overseas ... More

    HC directive to RuiaCotex on Jessop offer
    MR Justice Kalyan Jyoti Sengupta of Calcutta High Court has directed the counsel of Ruia Cotex Ltd (RCL) to produce documents in support of the statement that the offer of RCL is valid till October 13. The staff association of Jessop & Co Ltd ... More

    RURAL DEVELOPMENT


    This call's for the kisan
    If rural homes can share a common phone line, it's possible to ring in a revolution, says a pilot telecom project in Andhra Pradesh. More

    TRADE & LABOUR UNIONS


    Dunlop Ambattur unit to resume
    THE decks have been cleared for the Dunlop factory at Ambattur, near here, to be reopened following an agreement signed between the management and the workers' union. The agreement between Dunlop India Ltd and the Dunlop Factory Employees Union ... More

    EVENTS


    Symposium on fundamental physics
    HYDERABAD: The BM Birla Science Centre, Hyderabad is organising the Fifth International symposium on `Frontiers of Fundamental Physics", from January 9-11. A galaxy of scientists from all over the world would be attending the symposium ... More

    Vastrabharana 2002
    Film stars, Sridevi (right) and Vyjayanthimala Bali, look at the exhibits at Vastrabharana 2002, an exhibition-cum-sale of designer sarees and jewellery in Bangalore on Tuesday. ... More

  • Hyderabad Engagements

    EXPORTS & IMPORTS


    Exports up 13.4% in April-August
    MAINTAINING its upward momentum noticeable in the initial months, the country's exports during the first five months of the current fiscal notched up a growth of 13.4 per cent at $19,766.26 million compared to $17,435.88 million in the comparable ... More

    High Court vacates ban on rubber import
    THE Bombay High Court has `vacated' the Centre's decision prohibiting import of natural rubber through the advance licence route. "The Court has today vacated the Centre's circular issued in February 1999 and the notification issued later this ... More

    ALTERNATIVE MEDICINES


    `Ayurveda units must adopt GMP norms'
    AS many as 70 ayurvedic units in Kerala are now adhering to good manufacturing practices (GMP), according to Dr D. Ramanathan, Managing Director of Sitaram Ayurvedic Pharmacy. Dispelling doubts as to whether small ayurvedic units in the country ... More

    ECONOMIC OFFENCES


    `Evidence' on Ketan's links with ex-CSE president
    THE Kolkata Police have claimed to have found "incriminating" evidence by way of documents at one of the offices searched on Tuesday that have established links between big bull Ketan Parekh and former head of Calcutta Stock Exchange, Mr Dinesh ... More

    SEBI ties up with States to probe misconduct in SEs
    SEBI has already rolled out its maiden initiative in this direction, thanks to its recently developed rapport with the West Bengal Government, which was pursuing a case concerning the Calcutta Stock Exchange. More


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    Top Stories
    Naik hints at excise relief to cushion fuel price hike


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    Exports up 13.4% in April-August

    Courier cos worried over changes in Post Office Bill

    In Depth
    Gender Justice
    Simple Economics
    Small Investor
    Looking back
    Sep. 22-Sep. 28
    NCAER concern over cost of high forex reserves

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    Higher offtake raises Q1 exports 10 pc

    Impact of Asian brown haze `exaggerated'

    `Software exports to US growing at 25 pc'

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    The Garden City is stressed out

    IISc ties up to launch Web library

    Post-IPR, drug prices set to rise: Report

    NCAER scales down growth rate to 4.8%

    Rise in newsprint price likely from October

    Ascon study upbeat on service sector

    `Security' curbs likely on FDI from neighbouring nations

    State Govts not for using small savings to retire high-cost debt


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