The Hindu Business Line : Friday, September 17, 2004

CLIMATE & WEATHER
Monsoon entering withdrawal phase
DEVELOPMENT of a weak El Nino condition in the tropical Pacific is apparently forcing the Indian summer monsoon onto the `retreat' mode. "Yes, monsoon will soon start withdrawing from northwest India," says Dr M. Rajeevan, ... More

NON-CONVENTIONAL ENERGY
`Bio-fuels must be given tax sops'
POINTING out the need to have bio-fuel alternatives for fossil fuels, the Planning Commission Deputy Chairman, Dr Montek Singh Ahluwalia, on Thursday favoured giving tax incentives to make bio-fuels economically feasible. "If bio-fuels have ... More

CEMENT
Cement prices rise in TN
THE wholesale cement price in Tamil Nadu rose this week after a falling trend over the last two months. The price of a 50 kg cement bag across brands is between Rs 160 and Rs 175. The price last week was between Rs 150 and Rs 160. Around ... More

ECONOMY
`RBI keeping a close watch on inflation'
Monetisation of Government deficits would also be completely discontinued in line with the road map prescribed by the Fiscal Responsibility and Budget Management Act. More

AP Govt seeks more funds for core sector
THE Congress Government led by Dr Y.S. Rajasekhara Reddy in the State does not feel any qualms in demanding its pound of resources from the Central Government even at the cost of embarrassing the Centre by highlighting how the Centre had vacated ... More

Recovery may be in jeopardy: NCAER
THE National Council of Applied Economic Research (NCAER) has contended that the United Progressive Alliance Government is in a difficult situation with what it views as "the return of the inflation dragon" in recent ... More

Kerala CM asks chamber to organise sector-wise roundtable talks
THE Chief Minister, Mr Oommen Chandy, has suggested that the CII-Kerala organise sector-wise roundtable discussions with key industrialists, experts and government officials to chalk out definite action plan for each sector. The sectors ... More

ENVIRONMENT
`Sethusamudram won't upset eco balance'
FEARS that the Sethusamudram ship canal project would have an adverse ecological impact are unfounded since the proposed canal alignment steers clear of the coral reefs by about 20 km, according to the Union Minister for Transport and Shipping, ... More

FOREIGN TRADE
Kazakhstan offers sops for investments in IT, defence sectors
KAZAKHSTAN has invited Indian investors to venture in its information technology and defence sectors. Addressing Indian industry representatives, the visiting Industry and Commerce Minister of Kazakhstan, Mr A.R. Zhaksybekov, said that ... More

US concerned over India's trade surplus
INDIA'S trade surplus with the US is likely to top $10 billion in the current fiscal. The country' exports to US is expected to reach $15 billion (last year $13 billion) while imports from the US is likely to languish in the $3-4 billion band. ... More

Sweden for stronger trade ties with India
SWEDEN is organising a seminar in New Delhi next month seeking investments and imports from India. According to Ms Inga Eriksson Fogh, Ambassador of Sweden, the seminar would explore means on how to improve imports from India. Addressing ... More

Thai FTA will encourage auto dumping: Hyundai
HYUNDAI Motor India on Wednesday said the free trade agreement (FTA) between India and Thailand would discourage manufacturing in India and pave the way for dumping of automobiles into the country. "The FTA will help create employment in ... More

Schroeder to visit India next month
The German Chancellor, Mr Gerhard Schroeder, will pay a visit to India next month, according to Mr Julius Georg Luy, Minister, Embassy of the Federal Republic of Germany in New Delhi. This will be the first official visit to India for Mr ... More

US team tours Kerala

POWER
Dispute over standby charges — HC tells Reliance Energy, Tata Power to talk it over
THE Bombay High Court on Thursday directed top managements of Tata Power Company (TPC) and Reliance Energy Ltd (REL) to sit together and work out a mutually acceptable solution on their standby charges dispute. The High Court has given the ... More

YSR inaugurates co-generation power project

TAXATION
Govt hikes service tax rate under alternate method for air travel agents
THE Finance Ministry has hiked the tax rates that have been specified for air travel agents opting to discharge their service tax liability through the alternate method. In the case of domestic bookings - under the alternate method specified ... More

Service tax only for IPRs under Indian laws
THE Finance Ministry has now held that intellectual property rights (IPRs) such as integrated circuits or undisclosed information would not be covered under "taxable services" as these rights are not covered or prescribed under Indian ... More

Basic exemption for service tax levy sought
THE Tamil Nadu Chamber of Commerce and Industry has urged the Union Finance Minister, Mr P. Chidambaram, to issue immediately a notification granting reasonable basic exemption limit for service tax. In a statement, the chamber President, Mr S. ... More

TEXTILES
Textile exporters see order books swelling
With the last set of quotas on global clothing trade expiring this December 31, the order book for most large exporters during the month has shot up 25-30 per cent, with foreign clients pre-booking capacities for orders that have delivery dates ... More

`Textile SMEs can tackle quota challenges'
INTENSE competition arising during the initial phase of the textile quota dismantling may set back Indian textile exporters, the Powerloom Development and Export Promotion Council (PDEXCIL) has said. But the country's small and medium ... More

TYRES
Truck, bus tyre output up
NEW DELHI: Truck and bus tyre production surged in July 2004 to 9.53 lakh units, reflecting a 3.14 per cent increase over 9.24 lakh units registered in June. The production level stood at 9.53 lakh units in July 2003. This segment ... More

RADIO/TV
Cricket telecast: SAB TV files intervention application
SAB TV, a general entertainment channel, today filed an intervention application in the ESPN-Star Sports petition against the Board of Control for Cricket in India (BCCI) in the Bombay High Court today. Senior advocate and former Union ... More

EDUCATION
Closer ties between IT cos, engg colleges mooted
THE Principal Secretary in West Bengal's Department of Information Technology, Dr G.D. Gautama, has underscored the need for the IT industry to forge linkages with technical education institutes in the State to ensure there was no mismatch ... More

MEDICAL INSTITUTIONS & HOSPITALS
Apollo plans more clinics
THE Apollo Group of Hospitals hopes to have in place 250 clinics across the country and abroad in the months ahead. In West Bengal, the group hopes to have 25 clinics in the next two years, Mr Ratan Jalan, CEO of Apollo Health and Lifestyle ... More

LEATHER
Roadmap soon to touch $2.4-b leather footwear exports by `09
A new trend that was emerging was the practice of employing more and more trained women workers in shoe factories. More

INDUSTRY ASSOCIATIONS

APREDA office-bearers

MINERALS
Vizag Steel's captive ore plan in limbo
CAPTIVE ore linkage seems to be avoiding Vizag Steel with some consistency. For one, the Orissa Government has turned down its request for a captive block. The chances are that the Chhattisgarh Government too will follow suit. And now the ... More

FOREIGN DIRECT INVESTMENT
FDI hike is no issue; we have enough funds: Mittal
Bharti not to shed stake in telecom co
`We have FDI in Bharti, but we function as an Indian company. We would like to access capital from abroad in future'. More

WTO
WTO-compatible policy to aid grains exporters
FOODGRAIN exporters may be reimbursed up to Rs 900 per tonne on shipments of wheat and Rs 1,000 per tonne in the case of rice, as part of the Government's new World Trade Organisation -compatible foodgrain export policy. The policy will be ... More

EVENTS

In Hyderabad today

ENTREPRENEURSHIP
Plans afoot to facilitate entrepreneurship
THE National Science & Technology Entrepreneurship Development Board (NEB), under the Department of Science & Technology of the Government of India, has firmed up plans to ensure that at least 100 entrepreneurship development cells (EDCs) are More

INCOME TAX
844 bank branches in Mumbai to accept I-T dues
MUMBAI: The Income-Tax Department has authorised 844 computerised branches of public and private sector banks in Mumbai and Navi Mumbai to accept payment of I-T dues, said a RBI release. The RBI has advised I-T assesses in these two ... More