The Hindu Business Line : Saturday, October 02, 2004

ECONOMY
FICCI expects GDP growth to keep momentum
WHILE welcoming the quarterly estimate of GDP of 7.4 per cent for the first quarter of 2004-05, the Federation of Indian Chambers of Commerce and Industry (FICCI) said that it would herald a good beginning for the current fiscal year. The ... More

'Globalisation has slowed growth'
GLOBALISATION has not led to a dramatic increase in economic growth as its advocates claimed it would, and indeed has been associated with a slowing of growth in many countries except India and China. More crucially, globalisation has been ... More

Left parties' stand on reforms flayed
DR Ashok S. Ganguly, Chairman of ICICI OneSource Ltd and Director on the RBI board, has criticised the Left parties' stand on reforms. Delivering the Rajiv Gandhi Memorial Lecture on `Emerging issues and future legacies' here on Friday, Dr ... More

Inflation dips to 7.8 pc as food item prices fall
THE annual wholesale price index-based inflation rate dipped marginally to 7.80 per cent for the week ended September 18, mainly due to a drop in prices of food items including vegetables and fruits, according to data released by the Ministry of ... More

EXCISE AND CUSTOMS
Import duty on polymers cut
THE Finance Ministry on Thursday lowered basic customs duty on a host of polymer feedstocks, intermediates and finished goods as part of its overall attempt to reduce inflation. A senior Finance Ministry official maintained that the revenue ... More

Polymer, naphtha duty cut unlikely to hit Reliance
THE duty cut in polymers and naphtha is not likely to have any impact on the price line of Reliance Industries Ltd, the largest producer of polymers in the country. The reason being cited for this insulation from the duty cut is that it had ... More

Polymer duty cut not to hit Haldia Petro IPO plans
THE Union Government's decision to reduce import duties on polymer products will affect the profitability of Haldia Petrochemicals, despite a corresponding reduction in the import duty of naphtha. However, Haldia Petrochemicals is firm on its ... More

Duty cut on polymers hailed

FOREIGN TRADE
India to look into Lanka's concerns over FTA
THE Indian Government will look into Sri Lanka's concerns over the impediments to the smooth operation of the Free Trade Agreement between the two countries, the Union Minister of State for Commerce and Industry, Mr E.V.K.S. Elangovan, said here ... More

HEALTH
Healthcare body seeks lower capital adequacy for medical insurers
DOMESTIC healthcare industry wants the Government to reduce the stipulated capital requirement for health insurers from the current level of Rs 100 crore to Rs 30 crore. Ms Suneeta Reddy, Vice-President of Indian Health Care Federation (IHCF) ... More

Meet on cancer treatment in Cairo

INFRASTRUCTURE
`EVM best tool for tracking project performance'
EVM integrates the cost, schedule and technical performance for project management on a structured and personalised basis. More

PETROLEUM
ONGC chief blames Govt policy for oil sector woes
INDIAN oil companies are facing financial crunch because the Government is not allowing them to increase prices of petroleum products at a time when prices of crude and all the other inputs such as steel and cement are rising. "Whether you ... More

IOC to open more retail outlets under 'Swagat'
The Indian Oil Corporation (IOC) is opening more than 110 retail outlets across the country that would dish out a host of customer-friendly services under the brand name `Swagat'. The PSU oil major is spending about Rs 50-75 lakh in developing ... More

PHARMACEUTICALS
Merck sues Dr Reddy's for patent violation
THE global pharmaceutical major Merck has sued Dr Reddy's Laboratories Ltd alleging patent infringement by the latter. In a press release here on Friday, Dr Reddy's said it had filed an Abbreviated New Drug Application (ANDA) with the US Food ... More

Merck's drug withdrawal turns spotlight on generic makers
ALL eyes are on the regulatory office of the Drug Controller General of India (DCGI) with regard to the fate of Rofecoxib, a pain-killer and arthritis drug. Rofecoxib, sold under the brandname Vioxx by Merck & Co, has been withdrawn globally ... More

POWER
Kerala: New policy framework for power sector mooted
A CASE has been made for an alternative policy framework for the power sector in order to meet the objective of electricity for all and to cure the present identified ills of the sector. The new policy should focus on the three important ... More

TAXATION
Tea buyers' plea for lowest tax bracket under VAT regime
Tea traders also want the controls recently imposed on trade, especially the tea auction system, abolished. More

TEXTILES
`US, EU to stick to textile quota phase-out deadline'
THE US and the EU are not backing the move by some least developed countries (LDCs) to stall the abolition of apparels' export quota regime slated for January 1, next year. The new Commerce Secretary, Mr S.N. Menon, told Business Line that ... More

TUFS technical advisory panel seeks Rs 1-cr limit
THE technical advisory and monitoring committee reviewing the implementation of the Centrally sponsored textile technology upgradation fund (TUF) scheme has recommended to the Government to enhance the project cost cap under the credit linked ... More

SSI
Seal of protest
The BJP leaders, Mr Sahib Singh Verma, Mr V. K. Malhotra, Mr Harsh Vardhan, Mr Vijay Goel and Ms Anita Arya staging a dharna in the Capital on Friday against sealing of cottage and small scale industries in residential areas of ... More

WATER
AP to give water from Srisailam for Chennai
THE Andhra Pradesh Government has agreed to release 10,000 cusecs a day from the Srisailam reservoir to help partly meet the drinking water requirement of Chennai city, which is faced with acute drinking water shortage. The Chief Minister of ... More

Nabard to implement rainwater harvesting scheme for AP Dalits
THE Andhra Pradesh Regional Office of the National Bank for Agriculture and Rural Development (Nabard) has announced that it would implement the Rs 200-crore, rainwater-harvesting scheme for the scheduled caste and scheduled tribe farmers in the ... More

RADIO/TV
CAS implementation in Govt's hands: TRAI
Suggests 3 models for cable TV delivery
THE Telecom Regulatory Authority of India (TRAI) has suggested three alternative models to introduce addressability in the cable television system whereby consumers would pay for the channel they wish to view. In its recommendations submitted ... More

SC to hear Zee's plea on Tuesday
THE Supreme Court will hear on October 5 another application filed by Zee Telefilms challenging the move by the Board of Control for Cricket in India (BCCI) to award telecasting rights to Ten Sports and Sony network to telecast the first Test ... More

Cricket telecast: Prasar Bharati to move SC as `aggrieved party'
THE legal battle surrounding the awarding of telecast rights to Sony Entertainment Television for the forthcoming Australia tour of India is getting complicated with the Prasar Bharati CEO, Mr K.S. Sarma, saying that the national broadcaster ... More

EDUCATION
TCS beefs up interface with engg colleges
IN a bid to strengthen its relationship with the academia, TCS is reinforcing its faculty development programmes across the country. This is also to ensure that the right kind of talent enters the company from the college campuses. The ... More

Big participation in IIMB fest
`INNOVATION at the frontier' will be the theme at VISTA, the IIMB's management fest. More than 30 business schools from around the world, including the London Business School, the Graduate School of Business, Chicago, and the Stern School of ... More

Seagate sponsors remedial coaching programme for underprivileged
SEAGATE Technology on Friday announced its sponsorship of a coaching programme for students from underprivileged families to complete their school education. "Under the Nava Astha Remedial Coaching Programme sponsored by Seagate and organised ... More

INDUSTRY ASSOCIATIONS
Tax on BPO: Chamber welcomes CBDT clarification
THE Federation of Andhra Pradesh Chamber of Commerce and Industry (FAPCCI) has welcomed the Central Board of Direct Taxes (CBDT) clarification of IT enabled services and Business Process Outsourcing units and felt that this would provide the much ... More

TMMA's new office-bearers

SCIENCE & TECHNOLOGY
Some US curbs on nuclear entities go
IN what is seen as the first follow-up to the recent initialling of the first phase of the next steps in strategic partnership, the US has issued formal notification of the lifting of some sanctions against India's space and nuclear ... More

MINING & QUARRYING
Women protest exploitation by mining lobby
WOMEN activists from 26 countries raised their voice in protest here on Friday against predatory exploitation of mineral resources in different countries, leaving women and children in the ravaged areas particularly vulnerable. Over 70 ... More

RESORTS & AMUSEMENT PARKS
Kerala HC orders `status quo' over Castle
A DIVISION Bench of the Kerala High Court today restrained the State Government from taking over the remaining buildings adjoining the Halcyon Castle and the property. The Bench comprising Mr Justice K.S. Radhakrishnan and Mr K. Thankappan ... More

FOREIGN DIRECT INVESTMENT
TRAI wants review of FDI cap in DTH
The Telecom Regulatory Authority of India today suggested a "complete review" of the existing foreign investment cap in the broadcasting sector including direct-to-home services. It has also recommended a 2-percentage point cut in licence fee ... More

EXPORTS & IMPORTS
Oilseed exports up sharply
A COMBINATION of farmers' education, scientific water management, strong input delivery system and research is the way forward for raising oilseeds productivity and generating genuine export surpluses," Mr Kishore Tanna, Chairman, Indian Oilseeds ... More

Traditional items push April exports up 34%
TRADITIONAL items like agriculture and allied products, gems and jewellery, chemicals and related products and engineering goods accounting for more than half of the overall exports notched up a salutary performance during the inaugural month of ... More

Congestion at Kochi port hits seafood exports
EXPORTS of seafood from Kerala have come to a near standstill as the heavy congestion of containers at the Kochi port has affected cargo movement, stockpiling marine products worth crores of rupees. Seafood exporters are worried that any ... More

ISEC to go ahead with export of preferential quota to EU
EVEN as higher domestic prices have made exports a not-so-remunerative proposition, the Indian Sugar Exim Corporation Ltd (ISEC) plans to execute the entire preferential sugar export quota to the European Union (EU) allocated to it for the ... More

NATURAL CALAMITIES
AP to seek Rs 1,093-crore drought aid from Centre
THE State Government plans to seek financial assistance to the tune of Rs 1,093 crore from the Centre, following the failure of the southwest monsoon and its adverse impact on the farm community for the sixth consecutive year. It will also ask ... More

TOURISM
`Kerala backwaters best in the world'
THE Most Beautiful Bays in the World Club has chosen the backwaters of Kerala as the best backwaters in the world. The club has also conferred club membership for Kerala Tourism and has given the authorisation to use the distinction on all ... More

Eco-tourism makes a mark at KTM
A NEW breed of eco-tourism operators has come up in the State as an alternative option to the conventional mass tourism thanks to the efforts by the Forest Department in providing enjoyment of wildlife. Kerala Travel Mart 2004 had a few such ... More

HK Tourism board woos Bollywood
GLOBAL acceptance of `Bollywood' films has lent its weight to the Hong Kong Tourism Board's (HKTB) efforts to step up its campaign for attracting Indian visitors and promote the country as a versatile location for Bollywood filming. Hong Kong ... More