The Hindu Business Line : Tuesday, May 06, 2003

Fortune lottery hits Kerala market
COMPUTER Aided Information and Research Services Private Ltd (CAIRS), in association with Essar Teleholdings Ltd, launched its online lottery brand called Fortune in Kerala on Monday. Fortune is backed by the latest technology on all fronts ... More

ANTI-DUMPING

Dumping duty mooted on jute bags from Bangladesh
THE Standing Parliamentary Committee on Commerce has asked the Government to take up the issue of "undercutting" of price of jute goods and "dumping" of jute bags in India by Bangladesh. In its report on "the functioning of development of ... More

ECONOMY

`Reform no sure way to reduce poverty'
FASTER growth through economic reforms is not always accompanied by a faster rate of poverty reduction. Poverty can be reduced if growth increases employment. If there is a mismatch between the opportunities available due to economic reforms and ... More

EXCISE AND CUSTOMS

Customs to process shipping bills only through EDI
THE Chennai Customs House will hereafter process all types of shipping bills, except re-export under drawback claim, only under the Electronic Data Interchange (EDI) system. This is part of the next stage of implementing the EDI. Accordingly, ... More

Tiruchi boosts excise revenue
The improved performance from the cement product units in Tiruchi excise jurisdiction, have yielded higher excise revenue. More

FOREIGN TRADE

`Highest growth comes from exports to Asia, Oceania'
Exporting links with the Asian counterparts have shown a significant upswing during the period under study. In the year 2002-03, Asia contributed more than a quarter to India's exports and exports to this region registered a massive 30 % growth. More

EU services offer falls much below expectation: FICCI
THE Federation of Indian Chambers of Commerce & Industry (FICCI), while welcoming the proposed improvements by the EU on Mode-4 of service supply (movement of natural persons), has said that the European Union's offers on services fall much below ... More

INFRASTRUCTURE

GIC to invest in Chennai township via Singapore arm
GENERAL Insurance Corporation of India (GIC) has finalised plans for investing in township development in the country by routing investment through one of its foreign subsidiaries. GIC's Singapore-based wholly-owned subsidiary - India ... More

PETROLEUM

AP panel explores ways to tap K-G gas finds
WITH the excitement over huge gas reserves reportedly discovered by Reliance Industries and other energy agencies in the Krishna-Godavari (K-G) basin, the challenge that lies ahead is that of judicious utilisation of the reserves for growth. ... More

POWER

Karnataka not keen on Reliance gas deal
THE Government of Karnataka is reported to be having reservations over any direct long-term purchase contracts for sourcing gas from Reliance Industries Ltd, say sources in State Government. The sources said here that RIL had sought a firm ... More

Congress lends hand to push Electricity Bill
THE Congress's majority in the Rajya Sabha ensured passage of the Electricity Bill 2001 on Monday in a charged atmosphere as a Left party member, Mr Jibon Ray, insisted on amendments to the Bill. The Opposition, the Congress as well as the ... More

GECE solution to restore power faster
"A first-of-its-kind project, it comprises building of GIS, asset maintenance management and outage management system which will lead to better utilisation of assets and enhanced reliability." More

NTPC units resume

TAXATION

Delhi Govt brings first-point tax for tea, pan masala
TEA and pan masala would henceforth suffer `first-point taxation' for sales tax purposes in the National Capital Territory of Delhi. The two products have so far been taxed for sales tax at the `last point'. First-point taxation, according ... More

VAT panel may meet Jaswant today
THE Chairman of the Empowered Committee of State Finance Ministers on Value-Added Tax (VAT), Dr Asim Dasgupta, is likely to meet the Finance Minister, Mr Jaswant Singh, on Tuesday to sort out certain contentious issues that may well derail the ... More

Tax sops for temple halls

TEXTILES

Shipment validity period extended for textile sector
THE Union Government has extended the shipment validity period for textile exporters by 15 days in view of the recent truck operators' strike. The general extension of time will be applicable in respect of all shipments certified by the Cotton ... More

RADIO/TV

7 channels set to sign up for Insat-3A
THE Indian Space Research Organisation (ISRO) is finalising allocations on Insat-3A among seven private broadcasting channels. This includes four in the Ku band for DTH (direct-to-home) purposes and three in the C band for head-end in the sky ... More

Suryan FM to go on air from today
CHENNAI: The Sun Network's Suryan FM and the Times group-promoted Radio Mirchi kicked off operations in Chennai on Monday, marking the entry of a private FM radio in the city. While Suryan is being broadcast on 105.8 Mhz, Radio Mirchi ... More

Dubai-based satellite channel opens shop
THE Dubai-based Malayalam channel, Middle East Television (MET), is set to launch its news network in Kerala with modern production facilities having already been put in place in Thiruvananthapuram and Kochi. The 24-hour free-to-air digital ... More

HCV/LCV/TRACTORS

Tractor units taking steps to steer clear of bumps
AS the decline in the Rs 6,000-crore tractor industry shows little signs of abating, companies are gearing up to prevent their bottom lines from shrinking further. With key agricultural States having been hit by the drought last year, the ... More

GEMS & JEWELLERY

Glowing with `affordable' diamonds
DIAMONDS, for long considered the preserve of the affluent and a cherished heirloom that should be bandied about, always had a mystique aura surrounding them. Compared to gold ornaments that could be made in the smallest shape to suit one's ... More

MEDICAL INSTITUTIONS & HOSPITALS

Belle Vue opens super speciality ENT unit
Belle Vue Clinic, an M P Birla group outfit, has opened a `super speciality' surgery unit at its ENT department here. Dr K.K. Ramalingam, Senior Professor and Managing Director of KKR ENT Hospital & Research Institute of Chennai, will visit the ... More

SCIENCE & TECHNOLOGY

GSLV to undergo second test flight on May 8
GSLV, the indigenous launcher for two-tonne satellites, will undergo its second test flight on May 8 from the Sriharikota launchpad. Coming more than two years after the first one, GSLV-D1 had been improved to take an additional 300-kg payload. ... More

PAINTS

Crisil reaffirms ratings for paint majors
"Asian Paints' ability to smoothly integrate the international companies, it has acquired and manage the additional risks could have a bearing on its future credit profile". More

CINEMA

6 Toonz films for Kalamazoo animation fest
SIX films produced by Toonz Animation India have made it to the finals at the prestigious second Kalamazoo Animation Festival International (KAFI) to be held from May 16-18 at Kalamazoo in the US. Animation as entertainment, education, ... More

DISINVESTMENT

As Govt changes plan... Training institute to sail with SCI in divestment
THE Union Government will privatise Shipping Corporation of India (SCI) along with its Maritime Training Institute (MTI), discarding an earlier plan to demerge the training institute from the company prior to its disinvestment. "MTI will remain ... More

SOCIAL WELFARE

`PMRY scheme working well in rural areas'
THE State Commissioner for Industries, Mr T.S. Appa Rao, has said that the Prime Minister's Rozgar Yojana (PMRY) should not be viewed as a poverty alleviation scheme, but an employment generation one and officials and bankers should bear this in ... More

INDUSTRIAL POLICY

TN Govt spots thrust areas for development
THE State Government will focus on public-private partnerships in management and creation of infrastructure, improve industrial estates, promote foreign direct investment, identify key areas that impact on manufacturing and provide appropriate ... More

INTERVIEW

`India, the largest user of anti-dumping device' — Mr L.V. Saptharishi, DGAD and Designated Authority
THE WTO has said on May 2 in Geneva that between July 1 to December 31, 2002, 17 members initiated up to 149 anti-dumping (AD) probe against export of 43 countries. India led the largest-user league with 54 AD cases that are microscopically less ... More

EVENTS

Nanguneri tech project to be reoriented with Tuticorin SEZ
A committee led by the Chief Secretary with representatives from the promoters, industrial area township authorities and officials will be constituted to resolve issues relating to establishment of SEZs. More

Documentary competition
MANGALORE: The Centre for Civil Society has invited documentaries for Jeevika 2003, a national livelihood documentary competition. This competition is the first national-level documentary competition focussing on livelihood issues, ... More

EXPORTS & IMPORTS

No bonds for registered exporters
MERCHANT exporters registered with recognised export promotion councils of the country need not furnish a security of 25 per cent of the bond amount and surety of full bond amount along with bond executed by them for exports without payment of ... More

`Easy credit vital for leather exports'
THAT China was several laps ahead of India in areas such as leather exports (SARS notwithstanding) was reasserted during a seminar on global benchmarks for leather sector here on Monday. During the seminar, Mr S. Audiseshiah, Executive ... More

NATURAL CALAMITIES

Orphaned... but not singled out
The Prime Minster, Mr A.B. Vajpayee, with children from Kutch who were orphaned by the earthquake in Gujarat at his residence in New Delhi on Monday. Mr Vajpayee announced an assistance of Rs 50 lakh for the children. ... More

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