Financial Daily from THE HINDU group of publications
Thursday, December 11, 2003
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INDUSTRY & ECONOMY

ECONOMY


Supplementary demands introduced in LS
THE Government today introduced in the Lok Sabha the second batch of supplementary demands for 42 grants for the current fiscal, involving net cash outgo aggregating to Rs 4,887.91 crore. Besides, demands for grants for additional expenditure ... More

FOREIGN TRADE


Korean investments sought for infrastructure projects
THE Foreign Secretary, Mr Shashank, on Wednesday said that India is aware of the problems foreign investors face and to mitigate these problems, the Government is committed to create world-class infrastructure, which would require an investment ... More

Malaysian business team to visit AP
IN a bid to explore business opportunities with Andhra Pradesh, a high-level Malaysian delegation, led by its Minister for Entrepreneurs, would arrive here on December 28. The team would look for tie-ups with the local entrepreneurs, Mr T. ... More

Dutch body may assist SHGs on exports to EU
THE Centre for Promotion of Imports from Developing Countries (CBI program) belonging to the Government of Netherlands is likely to extend support to the self-help groups (SHGs) in Andhra Pradesh in exploiting the export opportunities available ... More

HEALTH


Care TV to make debut today
The channel is being broadcasted through Thaicom and the foot print ranges from the Gulf to Far East. The digital channel will be a free-to-air one. Promoted by Mr Atul B. Saraf, Chairman, Take Care Pvt Ltd, Care TV is envisioned as an effort ... More

Gates Foundation unveils $25-million HIV prevention plan for AP
AVAHAN, the India AIDS initiative of Bill & Melinda Gates Foundation, has launched a $ 25-million (Rs 115 crore) programme to stem the spread of HIV in Andhra Pradesh. Avahan (call to action) is a $ 200-million grant-making initiative of the ... More

PETROLEUM


Oil Ministry moots cut in duties — Move may hit refining margins
THE Petroleum Ministry has suggested a reduction in the customs duty on crude oil, petrol and diesel in the coming Budget, according to senior Finance Ministry officials. If implemented, the move will impact refinery margins for domestic ... More

Oil PSUs agree to pay Rs 150-cr dues to RIL
AFTER a six month-long dispute, the public sector oil marketing companies have agreed to pay around Rs 150 crore to Reliance Industries Ltd(RIL) as arrears on purchase of LPG and kerosene from its refinery from April-June this year. For ... More

STEEL


Coke oven battery for Vizag Steel cleared
VISAKHAPATNAM: The Union Cabinet has cleared the fourth coke oven battery for the Visakhapatnam Steel Plant, which will pave way for its capacity expansion. The Chairman and Managing Director of the plant, Mr B.K Panda, said this at a ... More

TAXATION


No service tax on events managed by sponsors
THE Finance Ministry has clarified that no service tax is payable on "event management" in cases where the event is organised/managed by the sponsor himself. In a circular, the revenue department has clarified that service tax is not on the ... More

TEXTILES


Singapore textile trade team sees scope for tie-ups
THE members of the textile and garment businesses from Singapore, who are on a trade visit here to explore the scope of working together with the local textile companies/enterprises, see big opportunity for investment especially in joint ventures ... More

SSI


  • Karnataka SSIs hail Govt move

    WATER


    `Bottled water market needs regulations'
    THE Indian bottled water market, which has more than 250 brands, is expected to undergo a major consolidation phase, and the need for standards and regulations is of great importance, according to Ms Ita Thaher, Secretary General of the Asian ... More

    Growing thirst
    A young boy on his way to fetch water from near `Cyber Pearl', the third phase of the Hitech City in Hyderabad on Wednesday. Even as the third phase is nearing completion and the demand set to grow, it is now proposed to initiate work on the ... More

    TERRORISM


    Taliban-abducted workers belong to AP
    THE two Indian construction workers abducted by Taliban militia on Saturday last in Afghanistan hail from Nellore district of Andhra Pradesh and were hired by a city-based Seenaiah and Company Projects Ltd (SCPL) that bagged the contract for ... More

    BEVERAGES


    Pesticides in colas: JPC seeks extension
    CONSUMERS and Cola manufacturers will have to wait till end-February for some clarity on the controversy regarding the presence of pesticide in soft drinks. The Joint Parliamentary Committee (JPC) looking into the controversy has sought an ... More

    INDUSTRY ASSOCIATIONS


    MAIT calls for tax cut on hardware products
    THE Manufacturers Association for Information Technology (MAIT) has renewed its demand seeking reduction in taxes on hardware products so as to make IT more affordable to the masses. In its pre-Budget recommendations, MAIT has called for ... More

    PHDCCI for cut in corporate tax rate
    THE PHD Chamber of Commerce and Industry (PHDCCI) has suggested that the corporate tax rate for resident companies be lowered to 30 per cent (with no surcharge). In its pre-budget memorandum submitted to the Finance Minister, Mr Jaswant Singh, ... More

    SCIENCE & TECHNOLOGY


    `Second generation' satellite launch soon
    SPACE scientists will soon launch a `second generation' satellite that can beam down detailed data on the conditions at sea, which will help them to predict weather better and to accurately assess natural resources. Dr K. Kasturirangan, former ... More

    PAINTS


    Paint sector sees growth as housing loan rates fall
    THE falling rates on housing loans paint a cheerful picture for the paint industry in the country. The industry, particularly the decorative paints segment, foresees a "buoyant mood" in the second half of 2004, when the impact of the falling ... More

    WTO


    WTO general council to restart Doha talks
    AS the WTO General Council is meeting in Geneva on December 15 to pick up the thread of talks that got interrupted by the abrupt end to the Fifth Ministerial meeting in Cancun, the Chairman of the Trade Negotiating Committee (TNC), Mr Carlos ... More

    RURAL DEVELOPMENT


    `Funds shortage not to hamper rural electrification'
    FUNDS shortage is not likely to be a problem to fulfilthe Government's objective of full rural electrification by 2007, according to Mr Indrajeet Gupta, Managing Director of SBI Capital Markets. Speaking at a workshop on National rural ... More

    EVENTS


    Retain Gulf returnees, experts tell Kerala
    KERALA still sends the largest number of migrant workers abroad, which remains an important source of employment and income even though there has been a considerable decline in migration from the State since the mid-90s. According to Dr Gopal ... More

    Food expo in Jan
    NEW DELHI: ITE Group, India, has announced that the second International Food, Drink & Hospitality Exhibition (IFDE India) will be held in New Delhi in January. The exhibition will involve 70 participants. ... More

  • Hyderabad engagements
  • Visakhapatnam engagements
  • Bangalore engagements
  • Meet on environment safety

    TOURISM


    Tourism meet seeks to focus on inter-regional travel
    THE challenges of increasing intra-regional tourism and further opening of the skies to make civil aviation truly an engine of growth were the key issues raised at the international tourism marketing conference organised by the Federation of ... More
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    Nicholas Piramal looking for buyers for tail-brands: Ajay

    Telgi scam effect — Banks to source stamp paper from treasury

    Dysfunctional financial activism

    Oil Ministry moots cut in duties — Move may hit refining margins

    Is obesity tax a healthy option?

    In Focus
    Steel Industry in 2003
    Outsourcing backlash
    Stamp paper scam
    Housing finance scenario
    Insurance Round-up — 2003
    Organic farming
    The Cable tangle
    Telecom Competition
    Oil PSUs: Disinvestment dilemma
    Rising intolerance
    (The Hindu)
    Vaishnavaite Temples in Tamil Nadu
    (The Hindu)
    Saivite Temples in Tamil Nadu
    (The Hindu)

    In Depth
    Insurance Corner
    Swati CA
    Simple Economics
    Slowburn
    Tax Talk
    NRIs & Investment Avenues
    Iraq Diary

    Looking back
    Nov. 30-Dec. 6
    For reforms to succeed address poor nations' needs: PM

    Cement prices rise slowly but steadily

    AIDS drugs at lower prices for Govt-run programmes

    Basmati exports may be hit on new EU rule — Serious impact on shipments from Pakistan

    Chemicals, engineering goods prop up exports in April-July

    Govt plans green channel for law-abiding exporters

    Falling prices push cement majors to cut production

    Bengal SEZ Bill not to allow strikes

    Eco Ministry notification — `Construction sector may take a hit in 2004'

    10 SEBs pare losses by Rs 4,700 cr during last fiscal

    Non-leather footwear exports log 55% growth

    Coal India mulls setting up power plants

    Rising rupee dents textile exporters' margins

    Cos may lose Rs 22,000 cr due to power cuts: Survey

    Greying of Kerala to cause headaches


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