The Hindu Business Line : Thursday, November 18, 2004

EMPLOYMENT
AP scheme to offer jobs to one lakh youth
MARKING the late Prime MinisterIndira Gandhi's birth anniversary on November 19, the State Government is launching a Rs 321-crore `Rajiv Yuva Shakti' to provide employment opportunities to one lakh youth in the next five months. Besides a ... More

NON-CONVENTIONAL ENERGY
Plan to run vehicles on ethanol blended petrol under review
THE Government is reviewing the ambitious programme to run automobiles on ethanol-doped petrol, a project which was launched by the previous NDA regime to reduce the country's dependence on imported crude oil. The Petroleum Minister, Mr Mani ... More

ECONOMY
CMP comes in for praise from Wolfensohn
WHEN one thinks of globalisation, the thought of India and China comes to the mind first, according to the President of the World Bank Group, Mr James D. Wolfensohn. Talking to newspersons here on Wednesday, Mr Wolfensohn said that the Common ... More

Write off Central loans, urge Southern CMs
THREE southern States have sought the Planning Commission's intervention in writing off Central loans for achieving fiscal correction. The three States were Karnataka, Kerala and Andhra Pradesh, represented by the respective Chief Ministers, ... More

Globalisation sans rural uplift will spell ruin: Aiyar
THE Minister for Petroleum and Natural Gas, Mr Mani Shankar Aiyar, on Wednesday cautioned against the mindless adherence to excessive focus on development for the urban elite and warned that the consequences of neglect of the rural populace in ... More

`Globalisation erodes values'
MANGALORE: The Chairman of Indian Council for Social Science Research, Dr V.R. Panchamukhi, said that everything is competition-driven in the globalised era and not cooperation-guided. He was delivering a special lecture on `Developmental ... More

ENVIRONMENT
New iron ore mines available only in reserved forests — Steel, Environment Ministries caught in ecological tangle
Since the existing mines are fast drying up, new mines are required to be opened up. More

FOREIGN TRADE
India, Bangladesh bilateral trade can touch $5 billion: Kamal Nath
THE Union Minister of Commerce and Industry, Mr Kamal Nath, has said that the existing level of bilateral trade between India and Bangladesh, currently at about $2 billion, could be increased easily to $5 billion. Addressing the `Business ... More

HEALTH
Dikshit stress on preventive healthcare
STRESSING the need to spread medical facilities to the rural areas, the Delhi Chief Minister, Ms Sheila Dikshit, today sought suggestions from the healthcare sector on infrastructure facilities such as communication, power and law and order so ... More

INFRASTRUCTURE
'No decision yet on using forex kitty to develop infrastructure'
STEERING clear of the debate over the proposal to use the rising foreign exchange reserves for infrastructure development, the Finance Minister, said that he was "carefully watching" the debate before firming up his views. "I am carefully ... More

Govt keen on improving Bangalore infrastructure
IN its effort to maintain Bangalore's image as the Asian Silicon Valley, the State Government has announced several initiatives to improve the city's infrastructure. A significant move is the decision of the Bangalore Mahanagara Palike (BMP) ... More

PETROLEUM
States told to cut ST on petro products — Chidambaram's call to contain crude oil-induced inflationary pressures
THE Finance Minister, Mr P. Chidambaram, today backed the Petroleum Minister, Mr Mani Shankar Aiyar's view that State Governments should lend a helping hand in controlling inflation by lowering sales tax on petroleum products. "States must take ... More

PHARMACEUTICALS
Panel for 50 pc margin for drug makers
THE committee set up by the Ministry of Chemicals and Fertilisers for looking into the price issue of medicines has recommended restricting profit margins of the manufacturers to 50 per cent. Announcing this at the Economic Editors' Conference ... More

POWER
Tough times ahead for Kayamkulam plant
IF the decision of the Kerala State Electricity Board not to draw power from high-cost thermal plants is any indication, NTPC's Kayalamkulam unit is in for serious problems ahead. Its 350-MW naphtha based power plant has been non-operational ... More

TNEB dues: PPN's 2 US partners go for arbitration
Majority shareholders vote against the decision
TWO US power companies with a joint 46 per cent equity in PPN Power Generating Co Ltd have gone to an international arbitrator over non-payment of dues and arrears by the Tamil Nadu Electricity Board, a decision which has not found favour with ... More

STEEL
Paswan supports steel price hike
THE Minister for Steel, Chemicals and Fertilisers, Mr Ram Vilas Paswan, on Wednesday came out in open support of the price hike effected by public sector steel manufacturers such as the Steel Authority of India Ltd (SAIL) and Rashtriya Ispat ... More

WATER
`Chennai desalination plant proposal with State Govt'
THE Finance Minister, Mr P. Chidambaram, on Wednesday said that the Centre has given concrete proposals to the Tamil Nadu Government for the setting up of a desalination plant for Chennai. "The ball is now in the Tamil Nadu Government's court. ... More

EDUCATION
`State should continue to fund education'
THE Vice-Chancellor of the University of Delhi, Prof Deepak Nayyar, has said that globalisation of education has gathered momentum and commercialisation of Universities across the globe began by the 80s. Emergence of entrepreneurial spirit, ... More

GEMS & JEWELLERY
Diamond units in Thrissur losing sheen
DIAMOND workers in a few panchayats in Thrissur district are in dire straits. For want of sufficient work, they are losing out to their counterparts in Gujarat, the main centre of diamond industry in the country. The reasons attributed to the ... More

INDUSTRY ASSOCIATIONS
Chamber plea to endorse ONGC's investment proposal
THE Kanara Chamber of Commerce and Industry (KCCI) has written letters to the Prime Minister, Dr Manmohan Singh, and the Union Petroleum Minister, Mr Mani Shankar Aiyar, requesting them to endorse the Oil and Natural Gas Corporation's (ONGC) ... More

DISINVESTMENT
Baalu not for SCI disinvestment
THE Minister for Shipping, Road Transport & Highways, Mr T.R. Baalu, has said that he is not in favour of disinvestment in the Shipping Corporation of India (SCI). Speaking at the Economic Editors' Conference here, Mr Baalu said SCI had notched . More

SMALL SAVINGS
EPFO directive to members
THIRUVANANTHAPURAM: The Employees Provident Fund Organisation, Kerala, has asked all EPF members who have not preferred their claims even three years after leaving service or retirement to submit the claims, duly attested by their ... More

EVENTS

In Hyderabad today

EXPORTS & IMPORTS
Govt nod for export insurance account
THE Government has given its in-principle approval to the setting up a national export insurance account, according to Mr P.K.Dash, Chairman-cum-Managing Director, Export Credit and Guarantee Corporation (ECGC). Mr Dash told newspersons at the ... More

DGFT assures to clarify tax exemption on export incentives
"Changes were not made in the I-T Act and this led to the I-T Department raising huge demands on exporters, causing severe cash crunch for many exporters." More

Export growth slows in October
THE country's exports have crossed the $40- billion mark during the first seven months (April-October) of current financial year, even as the export growth in October was pegged at 9.49 per cent, as against the annual target of 16 per cent. ... More

ECONOMIC OFFENCES
Dr Jekyll and Mr Hyde, plus a fox pulling a fast one
"PHONE records show suspect's location before millionaire's slaying," reads the headline of a story on www.wnep.com about a recent crime in New York. Another ... More

PEOPLE
Sunil Goyal on IFAC board
THE President of the Institute of Chartered Accountants of India (ICAI), Mr Sunil Goyal, has been appointed to the Board of the International Federation of Accountants (IFAC). According to an official communiqué, the appointment of Mr Goyal to ... More