EXCISE AND CUSTOMS
Additional duty on finished imports — PC prices may remain at pre-Budget levels
PERSONAL computer prices are expected to remain virtually unchanged at the pre-Budget levels, with the Government on Monday announcing introduction of an additional duty on finished PC imports to neutralise the impact of the excise duty anomaly ... More

FOREIGN TRADE
CCEA okays taxation pact with Armenia
THE Cabinet Committee on Economic Affairs (CCEA) on Monday gave formal approval to the signing of a `Double Taxation Avoidance Convention' with Armenia. The approval will enable the Government to ratify the `Convention for Avoidance of Double ... More

HEALTH
Govt asks WHO to prolong AIDS drugs supply
WITH only a week to go for the close of the first four months of free distribution of anti-AIDS drugs to patients, the Union Health Ministry has requested the World Health Organisation (WHO) to continue its procurement of AIDS medicines for a ... More

Condom ads may make a comeback on DD
REVERSING the previous National Democratic Alliance Government's decision on banning condom ads on televisions, especially on the national broadcaster Doordarshan, the Health Ministry has now decided to aggressively push condom ... More

$1.5-m grant for AIDS cause
AVAHAN, the India AIDS initiative of the Bill and Melinda Gates Foundation, has announced a grant of up to $1.5 million over five years to Washington-based Family Health International (FHI) to provide technical assistance to the Indian Network ... More

PETROLEUM
Oil marketing cos allowed to alter prices in narrow band
THE Government today allowed public sector oil marketing companies limited freedom to alter petrol and diesel prices within a narrow price band. In the process, the consumers can be significantly insulated from global product price shocks. IOC, ... More

POWER
German support for AP power distribution likely
THE German Government, which has agreed to fund the expansion of 660 MW Vijayawada Thermal Power Station, has recently indicated its intent to provide financial assistance to support the power sector in Andhra Pradesh. Disclosing these details ... More

STEEL
SAIL to raise hot metal production to 20 mt
STEEL Authority of India Ltd (SAIL) today unveiled its corporate plan 2012 that includes a decision to raise hot metal production from 13 million tonnes (mt) to 20 mt at an investment of Rs 25,000 crore. This plan is based on the projected ... More

Govt sets 100 mt steel production target by 2020
THE Government has set a target of 100 m.t. of steel production in the country by the year 2020 as part of the National Steel Policy being formulated by the Ministry of Steel, in consultation with other concerned Ministries. The policy is ... More

TAXATION
Direct tax mop-up records 52% jump
NET direct tax collections of the Central Government up to July 15 increased by 52.02 per cent to Rs 16,412 crore, against Rs 10,796 crore collected in the same period last year. This was stated by the Chairperson of the Central Board of ... More

Kerala announces sales tax relief on select items
The Government will also simplify the procedure for registration of small hospitals and clinics under sales tax laws. More

SSI
Get lean and mean for success in emerging markets
SMALL and medium enterprises (SMEs) and micro and small industry sector could be valuable tools for development as such units have proved to be more competitive than large-scale units. Changes in optimal firm size have emphasised the role of ... More

Keltrac sets up tech training centre at Aroor
KELTRON Tool Room Research and Training Centre (Keltrac), an autonomous society sponsored by Keltron and the Industries Department, has set up a facility at Aroor in Alappuzha district to provide technical training. The objective of the Centre, ... More

MANAGEMENT
B-schools told to focus on benchmarking
INDIAN management education has to concentrate on benchmarking because this means accepting that somebody is better than you and striving to be better than or even surpassing those standards, according to Dr R. Natarajan, Chairman, AICTE. In ... More

RADIO/TV
Radio makers ride the FM wave
WHILE private FM radio operators may be reeling under huge losses, good times seem to be back for standalone radio manufacturers with the launch of 22 new stations across the metros. The demand for standalone radios that had reached a ... More

INDUSTRY ASSOCIATIONS
Chamber calls for easing restrictive inter-State rules
IN THE backdrop of uneven monsoons, the PHD Chamber of Commerce and Industry (PHDCCI) has called for "immediate easing of restrictive rules" that govern inter-State trade and movement of agriculture commodities. According to the industry body, ... More

READYMADE GARMENTS
Vohra's Munch offers to design merchandising for apparel sector
IT is perhaps the design talent in the Indian apparel industry asserting its place. Mr Karunesh Vohra, who recently quit as the head of design and buying, Proline, has floated a standalone design company — Munch — offering merchandise ... More

BIO-TECH & GENETICS
Genetic panel nod for most Phase-III trials
THE Genetic Engineering Approval Committee (GEAC) has given a go ahead to nine pharmaceutical companies for conducting Phase - III clinical trials and three companies to manufacture and market their products. The regulatory body has also ... More

FOREIGN DIRECT INVESTMENT
Gabriel's methanol project cleared
GABRIEL Trade and Investment Co Ltd's plan to set up a industrial methanol unit with an investment worth Rs 900 crore was okayed by the Cabinet Committee on Economic Affairs (CCEA). In December 2003, the proposal was recommended by the ... More

DoT raises doubts over Hutch Max FDI limit
WITHIN just a few weeks of the Finance Minister, Mr P. Chidambaram, highlighting the "non-transparent" nature of foreign direct investment (FDI) in Indian telecom companies, the investment promotion cell of the Department of Telecommunications ... More

HUMAN RESOURCES
CII seeks to clarify labour export issues with US
IN the backdrop of the US being India's largest single market for skilled labour exports, the Confederation of Indian Industry (CII) would like certain issues to be addressed including a transparent visa regime and a tax revenue sharing agreement ... More

EVENTS

ENTERTAINMENT & LEISURE
AP House panel to probe sops to I-Max owners
The I-Max project was awarded to Prasad Productions Ltd as per the provisions of the AP Tourism Policy. More

INCOME TAX
I-T Dept told to focus on non-salaried evaders
THE Chief Commissioners of Income-Tax (CCITs) may well pay heed to the advice of the Finance Minister, Mr P. Chidambaram, who now wants each one of them to don the cap of a chief executive officer (CEO) for bringing in more "clients" to the tax ... More

EXPORTS & IMPORTS
`Indian trade lacks skill in creating demand'
THE Indian trade and industry could to a great extent manage well the shift in the financial cost towards lower interest rate regime from high rate regime but they are yet to succeed that much in demand creation. This phenomenon is fairly ... More

MPEDA to focus on US, Japan markets
The authority plans market access initiatives to boost exports and regain the lost market share. More

Coir exports up marginally in Q1
EXPORTS of coir and coir products during the first quarter of the current fiscal increased by 4 per cent in quantity and five per cent in value. During April - June, exports stood at 23,903 tonnes valued at Rs 91.12 crore as against 22,984 ... More