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Saturday, November 06, 2004

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INDUSTRY & ECONOMY

ACCIDENTS
11 killed in cracker blast in Srikakulam
A BLAST occurred late on Thursday night (around 8.30 p.m.) in Srikakulam, as explosives stored unauthorisedly by a cracker manufacturer at his house in Chinna Bazar area caught fire, claiming 11 lives and injuring13. Some of them are in a ... More

PENSION PLANS
XLRI proposes EPFO revamp
XLRI Jamshedpur, mandated by the Employees' Provident Fund Organisation (EPFO) to suggest reform measures, has proposed sweeping changes in the organisation's structure. The B-School, which has already sent in its report to the PF authority, ... More

ECONOMY
Bond prices crash over inflation, interest rate worries
TIGHTENING liquidity, rising inflation and apprehensions of a hardening in interest rates led bond prices to crash by nearly Rs 2 in a jittery Government securities market on Friday. Dealers said that the late evening auction announcement for ... More

Fund flows to emerging markets may continue
FUND flows from developed countries to emerging markets such as India are likely to continue on back of strong fundamentals of the economy. Private equity and debt flows have doubled in the recent past towards the emerging nations from the ... More

Inflation rises on costly food, minerals
THE annual wholesale price index (WPI)-based inflation rate rose to 7.38 per cent for the week ended October 23 from 7.1 per cent during the preceding week. The year-on-year inflation rate was up due to an all-round price hike across the three ... More

ENVIRONMENT
FIPB defers decision on higher royalty payment by Denso Haryana
THE Foreign Investment Promotion Board (FIPB) has deferred its decision on a proposal from Denso Haryana for paying increased royalty to its Japanese parents for Euro III technology. Following the norms laid down by the Supreme Court for ... More

Concern over rising abuse of natural resources
THE Greentech Foundation has expressed concern over the increasing abuse of natural resources. "We are consuming the world's resources at a pace that outstrips the earth's capacity to sustain life," Mr Kamleshwar Sharan, President of the ... More

HEALTH
Recovery of dues: SC adjourns ESIC petition
THE Supreme Court on Friday adjourned the special leave petition filed by Employees State Insurance Corporation (ESIC) seeking recovery of dues from various companies with retrospective effect as against prospective effect as ordered by the ... More

PSU

  • Vendors' meet at NMDC

    PETROLEUM
    Left, Opposition flay petro price hike
    THE Left and several Opposition parties, including the BJP, on Friday condemned the UPA Government's decision to hike petrol, diesel and LPG prices. Attacking the UPA Government, the BJP dubbed it as an ``inflation-filled Diwali gift'' to the ... More

    `Fuel price hike may cause hardening of rates'
    SEVERAL bankers see the hike in petroleum prices as the immediate trigger, which will lead to a hike in interest rates. "We expect the interest rates to harden in the coming weeks when the revision in petroleum prices builds up inflationary ... More

    Under fire
    Activists of the Socialist Unity Centre of India protesting against the petro price hikes in Kolkata on Friday.

    More

    PHARMACEUTICALS
    Glaxo wants norms relaxed for non-patented molecules import
    It is estimated that the cost of conducting clinical trials in India can be as little as a tenth of the costs in the West. More

    POWER
    State power generating cos to enter into purchasing pact with DisCos
    STATE power generating companies (GenCos) have initiated steps to enter into direct power purchase agreements (PPA) with the electricity distribution companies (DisCos). Power generating companies were created by separating integrated State ... More

    AP industries may get power at Rs 2 a unit
    THE Chief Minister, Dr Y.S. Rajasekhara Reddy, on Friday hinted at offering power at Rs 2 a unit to the industrial sector. Addressing a CII conference on `Export excellence' here, he said the Government wanted to make power available at an ... More

    TAXATION
    Software sold off the shelf is liable to sales tax: SC
    THE Supreme Court on Friday held that software programmes such as Oracle, Lotus and Unigraphics sold off the shelf are goods for the purpose of levy of sales tax by States. A five-Judge Constitution Bench headed by Mr Justice N. Santosh Hegde ... More

    SC ruling to hit IT sector: Nasscom
    THE software industry on Friday said that the Supreme Court ruling classifying software as "goods" for the purpose of levy of sales tax is likely to increase the price paid by users, encourage pirated software and affect the speed of PC ... More

    Expansion of tax base key to cut in corporate taxes: Shome
    The corporate tax rate in India is now at 35 per cent as compared with 19-30 per cent in the UK, 30 per cent in Australia and 25 per cent in Brazil. More

    TEXTILES
    DGFT order on worn, used cloth puts Gujarat units in a bind
    PROCESSING units of imported worn and used cloth at Kandla special economic zone in Gujarat are facing rough weather following a notification by the Director-General of Foreign Trade (DGFT) restricting the sale of processed worn and used cloths ... More

    PERSONAL PRODUCTS
    Despite positive quarter FMCG sector awaits revival
    ONCE the dust has settled on the September quarter results of major fast moving consumer goods (FMCG) companies, it is becoming clear that while the revival process may have begun, the sector has still a long road ahead to complete recovery. And ... More

    EDUCATION
    Air Force proposes aeronautical engg college in Bangalore
    TO overcome the shortage of quality aeronautical engineers, the Indian Air Force has proposed to set up an engineering college that would feed the growing requirement of the country's defence forces and produce officers who could later be ... More

  • Ethiopian team at ANGRAU

    FOODS & FOOD PROCESSING
    Govt finalising food processing policy
    THE Government said today it was in the process of finalising the National Food Processing Policy and has decided to formulate a draft law on which the views of the State Governments and various stakeholders would be considered. The Minister ... More

    GEMS & JEWELLERY
    On the cutting edge
    A diamond worker in Thrissur. These skilled workers, spread over five panchayats of Thrissur district, are facing a crisis as their jobs are taken away by workers in Gujarat and Maharashtra, where wages are low. There used to be over 25,000 ... More

    REAL ESTATE & CONSTRUCTION

  • `Title deeds in 100 days': Minister

    BIO-TECH & GENETICS
    Working groups formed to deliberate biotech policy
    THE Department of Biotechnology (DBT) has formed six major working groups that would deliberate on issues to be taken up in the biotech policy. The working groups would broadly deliberate on policy measures required to promote innovation and ... More

    DISINVESTMENT
    Non-life public insurers may tap capital market
    A DILUTION of Government stake in the four public sector non-life insurance companies is likely this year in view of the large capital requirements to sustain growth. High-level sources said, the Finance Minister, Mr P. Chidambaram, had ... More

    SOCIAL WELFARE

  • AP Ministers assess PDS

    RURAL DEVELOPMENT
    Small agri-biz consortium to become VC fund
    REITERATING the Government's commitment to developing the rural economy, the Finance Minister, Mr P. Chidambaram, on Friday said the Government was taking steps to revamp the Small Farmers Agri-Business Consortium into a dynamic venture capital ... More

    PM moots rural business hubs
    EMPHASISING that benefits of rapid economic growth should flow out to all sections of society, particularly rural India, the Prime Minister, Dr Manmohan Singh, on Friday mooted the idea of establishing rural business hubs and stressed on the need ... More

    Rural women urged to utilise facilities offered by Karnataka Govt, NGOs
    THE Karnataka Deputy Chief Minister, Mr Siddaramaiah, has urged the rural women to utilise the facilities provided by the Government and non-governmental organisations. He was launching `Siri Shramik' brand of shirts, manufactured by ... More

    EVENTS

  • In Hyderabad today

    EXPORTS & IMPORTS
    `Auto components exports to touch $20 b in next 10 years'
    AUTO components exports from India are expected to be of the order of $20 billion in the next 10 years. At present, India's auto components exports have been pegged at around $1 billion, according to Mr S. Kumar, Assistant General Manager of Tata ... More

    ALTERNATIVE MEDICINES
    Reliance to foray into medicinal farming
    If the market pundits are to be believed, Reliance Life Sciences (RLS) may well emerge as one half of the blockbuster, double bill opening at the IPO box office some time next fiscal along with Reliance Infocomm. And laying the foundation to this ... More

    TOURISM
    Sun shines for Kerala tourism sector
    BUOYED by a commendable performance in 2003, when the total number of foreign tourist arrivals in Kerala rose by over 26 per cent, the State's tourism industry is preparing for another successful season. "It seems like a good season ahead," ... More




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  • Top Stories
    SC ruling to hit IT sector: Nasscom


    Scientists for Jakarta to study carotenoid content in palm oil

    XLRI proposes EPFO revamp

    `Fuel price hike may cause hardening of rates'

    Reliance to foray into medicinal farming

    Left, Opposition flay petro price hike

    Looking back
    Oct. 24-Oct. 30
    FDI outflow rises as Indian cos clinch more buys overseas: Unctad

    FDI in aviation: No flights of fancy, yet

    Define patent terms clearly, says drug industry

    EC adopts new proposal for trade preferences

    `Cutting customs duty to absorb oil price hike won't help'

    Maruti, Toyota models top customer satisfaction survey

    Purity standards for soft drinks by year-end

    Southern guzzlers keep beer sector spirits high

    More new channels lead to distribution problems

    India rules out trade-offs in WTO talks

    Infrastructure grows 5.9 pc in September

    Scotch pours in; but no cheers for global brands

    Anthurium — a flower with potential in domestic, global markets

    Tap forex reserves for infrastructure development, says Montek

    New broadcasting platforms will pose challenge to research outfits


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