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Friday, August 27, 2004

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INDUSTRY & ECONOMY

NON-CONVENTIONAL ENERGY
KERC dismisses Koppal petition
THE Karnataka Electricity Regulatory Commission has dismissed the petition by filed a 6 MW biomass-based power generating company. The company, Koppal Green Power Ltd, had entered into a power purchase agreement with the Karnataka Power ... More

ANTI-DUMPING
Dumping duty proposed on propylene glycol imports
The authority said the subject goods have been exported from EU, the US, Korea and Singapore below its normal value. More

BUDGET
Tax on NRI deposits deferred to next April — House passes Finance Bill sans debate
PARLIAMENT on Thursday passed the Finance Bill, 2004, providing marginal relief on personal income tax to ensure individuals having a total income of little over Rs 1 lakh are not left with a post-tax income of less than Rs 1 lakh. Amendments ... More

ECONOMY
Plan panel forms 17 consultative groups
THE Planning Commission has set up 17 consultative groups for eliciting alternative perspectives, new ideas and non-governmental organisation (NGO) inputs into the process of mid-term appraisal of the Tenth Plan (2002-07). Each consultative ... More

UN project hampered by lack of `political energy'
AT the global level, the response to the UN's Millennium Development Goals (MDGs) Campaign has been mixed, with some countries performing better than others on the implementation of the goals, said Mr Salil Shetty, Director of the Millennium ... More

Kalam to open development meet in Bangalore
BANGALORE: The President, Dr A. P. J. Abdul Kalam, will open a national seminar in Gulbarga on `Vision 2020 of rural India.' The seminar is being held on September 23. Mr Suresh G. Nandyal, President of the Hyderabad Karnataka Chamber of ... More

EXCISE AND CUSTOMS
Raw silk imports by EOUs/SEZs from China — CBEC to discontinue testing of grades
IN a major relief for export-oriented units (EOUs) that import raw silk from China, the Finance Ministry has decided to discontinue the current practice of drawing samples to test the grade of raw silk imported by such units from China. A ... More

Goods made on job work basis — CBEC forms panel to study problems on valuation
THE Central Board of Excise and Customs (CBEC) has constituted a four-member sub-group to study the problems arising on account of valuation of goods manufactured on job work basis. Mr T.R. Rustagi, Director General, Directorate General of ... More

FOREIGN TRADE
`Explore trade possibilities with CIS'
THE Union Government has asked industry to shatter the `myth' of CIS and start exploring the enormous business potential out there. The Government feels that the Commonwealth of Independent States, carved out of the erstwhile Union of Soviet ... More

Sharjah aims to become major business hub
But this may change shortly with the Sharjah Government's aim to develop it into a major business hub in West Asia within a few years, in the process attracting Indian investment to its newly developed Hamriyah free trade zone (HFZ) on about 12 ... More

India, Japan agree to step up trade
INDIA and Japan have resolved to enlarge bilateral trade and investment from the current low levels and underlined the need to evolve a suitable mechanism in this regard. This was indicated during a meeting here between the Union Commerce and ... More

INFRASTRUCTURE
Row over Vizag SEZ land acquisition hots up
The Congress leaders, who earlier supported the farmers' demand for Rs 4 lakh per acre, are now finding themselves in a fix. More

CII infrastructure summit at Bangalore
Highlighting the theme of Suminfra 2004, Mr Daljit Mirchandani said the meet would deliberate on the PPPs in relation to urban competence (infrastructure capability of port, roads and others) and real estate. More

PSU
GoM to screen PSE reforms in AP
A GROUP of ministers (GoM) headed by the State Finance Minister, Mr K. Rosaiah, will replace the Cabinet sub-committee constituted to monitor the progress of public enterprise reform process in the State. The first meeting of the newly ... More

PETROLEUM
MPs urge Centre to clear Kochi LNG project
MEMBERS of Parliament from Kerala have sought the intervention of the Union Minister for Petroleum and Natural Gas, Mr Mani Shankar Aiyar, for clearing the deadlock in commencing construction of the proposed LNG terminal here. In a memorandum ... More

Cess on crude should be used to stabilise oil prices: Panel
THE Standing Committee on petroleum and natural gas has recommended the creation of a price stabilisation fund using the money collected from cess on crude oil. The committee feels the fund will be able to absorb fluctuation in the ... More

PHARMACEUTICALS
KLM Cargo unveils end-to-end solution for pharma exporters
The joint venture's base in the Netherlands provides extra benefits due to the flexible tax regime and its attractive logistical and distribution networks. More

POWER
23 power stations equipped with BHEL sets bag national awards
HERE'S something that will warm the hearts of public sector votaries. Out of the 27 power stations throughout the country that have bagged national awards for meritorious performance, 23 are equipped with power generation equipment built by the ... More

KSEB declares bonus
THIRUVANANTHAPURAM: The Kerala State Electricity Board (KSEB) has declared bonus at the rate of 8.33 per cent, subject to a maximum amount of Rs 2,500, to its employees. An official spokesman said here that those drawing a salary of up ... More

APGenco to reduce costs
HYDERABAD: The Generation Corporation of Andhra Pradesh (APGenco) has decided to reduce its operation and maintenance (O&M) costs by 15 to 20 per cent in the current year through better management of its inventories and adopting various ... More

STEEL
Orissa signs pact with four steel cos for new projects
THE Orissa Government today signed memorandums of understanding with four steel companies for setting up of medium projects in the State. The MoUs were signed between the top executives of the companies and Mr R.N. Bohidar, Secretary of the ... More

SSI
SME clusters in AP commended
CLUSTER approach is essential for the development of small and medium enterprises in the country in view of the increasing competition in the domestic and export markets, Mr M. Gopalakrishna, the Chairman of the AP State Financial Corporation, ... More

`Exports throw up enormous opportunities for SMEs'
THEY are by nature family-owned, some of them being run by the second or third generation. They see immense potential for growth, but many do not exploit the opportunities for fear of taking risks. Finance is more easily available to them now ... More

Sisspa urges early end to truckers' stir
THE South India Small Spinners Association (Sisspa) has asked the Centre and the State government to urgently intervene to bring to an end the truckers' strike, which it says has hampered the movement of cotton and the cotton yarn produced by the ... More

COAL
House panel says CIL funds utilisation poor
THE Parliamentary standing committee on coal has expressed concern at the poor rate of fund utilisation by Coal India Ltd (CIL) in procuring heavy earth moving machines (HEMM) as well as the low capacity utilisation of these machines. In its ... More

EXIM POLICY
New Foreign Trade Policy — Will there be a real paradigm shift?
THE 2002-07 Export Import (Exim) Policy, coterminous with the Tenth Plan, is now being abandoned mid-way, with the United Progressive Alliance (UPA) Government planning to unveil a New Foreign Trade Policy (NFT) in its ... More

EDUCATION
ICFAI courses evoke interest
STUDENTS and parents attending a seminar here on `Career opportunities in management' have evinced keen interest in the MBA/MCA programmes offered by the ICFAI National College (INC), Thiruvananthapuram. According to Mr S. Ram Mohan, ... More

Govt calls for pvt participation in elementary education
THE Government today called for private sector participation in welfare measures such as capacity building for communities and resource institutions. Speaking at a conference organised by the Confederation of Indian Industry (CII) to discuss ... More

MEDICAL & SURGICAL EQUIPMENTS
Indigenous versions of stents undergoing tests
JUST under three years after their global launch, drug-coated stents developed indigenously and at comparably lower rates are expected to be commercially available in the country by the end of 2004 or early 2005. Relisys Medical Devices and ... More

REAL ESTATE & CONSTRUCTION
Govt for working with Malaysia to tap world construction market
IN a bid to enhance its share in the $4-trillion world construction market, India has invited Malaysian industry to jointly explore the opportunities of project exports in third countries. "India's share of 1.7 per cent in the world ... More

GOLD & SILVER
Gold prices may consolidate
GOLD prices moved higher due to oil hitting record highs and terror concerns ahead of the Republican convention in New York. Gold scaled to a four-month peak on Friday as record high crude prices attracted investors towards precious metals. ... More

KNITWEAR & HOSIERY
Tirupur units seek Rs 260 cr from tech fund
CONSCIOUS of the emerging competitive environment in the quota-free international textile trade, Tirupur's knitwear industry has staked a share of Rs 260 crore out of the estimated Rs 1,400 crore disbursed for Tamil Nadu under the textile ... More

SCIENCE & TECHNOLOGY
`Modern engineers must have global vision'
Engineers of the 21st century will have numerous opportunities in discovery, innovation and sustained learning. The three promising fields are nano-technology, biotechnology and information technology. More

FOREIGN DIRECT INVESTMENT
PHDCCI concerned over low rate of FDI inflow
THE PHD Chamber of Commerce and Industries (PHDCCI) has expressed concern over the low rate of inflow of foreign direct investments (FDI) compared to the corresponding approval figures. In a release issued here on Thursday, the chamber said ... More

EVENTS
Workshop on Rapmods system today
MANUFACTURERS will get an opportunity to familiarise with the Rapmods System, a productivity measurement and performance monitoring tool popular in Asian countries, according to a press release from the All India Manufacturers' Organisation ... More

EXPORTS & IMPORTS
Spices exports top 50 pc of fiscal target during April-July
SPICES exports during April-July have exceeded 50 per cent of the target set for the current fiscal in volume, while in terms of value it has crossed one-third of it. Total exports during April-July stood at 1,31,274 tonnes valued at Rs 770.19 ... More

Need for serious rethink on clearance of edible oil imports
RECENT news reports uncovering the highly irregular clearance of edible oil consignments at lower rate of customs duty than applicable, especially in minor ports such as Bedi in Jamnagar (Gujarat), have unnerved many players. What has for some ... More

TOURISM
CGH group to sign MoU with Karnataka
WITH one of its foot firmly established in Kerala's territory, the CGH group of hotels is extending its ambit of operations into Karnataka in a big way. And, Karnataka is emulating Kerala's pioneering public/private initiative to harness the ... More

Concern over Kovalam face-off
THIRUVANANTHAPURAM: The Chamber of Commerce, Thiruvananthapuram, has expressed concern over a string of violent incidents mounted to protest the handover of Halcyon Palace, part of the erstwhile ITDC property at Kovalam, to a private ... More

ECONOMIC OFFENCES
DoT fines 3 ISPs for grey Net telephony
IN a bid to curb the grey market in long distance calls, the Department of Telecom has cracked down on Internet Service Providers (ISPs), which are routing illegal traffic through their network. The department has imposed a fine on defaulting ... More




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