Financial Daily from THE HINDU group of publications
Wednesday, June 08, 2005
Markets (July 26)
BL 2502331.81 (+6.53)
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US Dollar (Buy/Sell)43.44/43.57
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Handling of hazardous cargoes — JNPT on collision course with pollution control board
IN its efforts to grab additional cargoes, the Jawaharlal Nehru Port Trust (JNPT) has invited the ire of the Maharashtra Pollution Control Board (MPCB) and the Maharashtra Coastal Zone Management Authority (MCZMA) by deciding to allow handling of ... More


Monsoon winds lose steam; weak rainfall in Kerala
IN what is being described as a glaring evidence of intra-seasonal variability upsetting the monsoon applecart, prevailing southwesterlies ran out of steam overnight throwing up mostly sunny weather across Kerala on Tuesday. Windspeeds lagged, ... More

Move for cloud seeding in AP
WITH the southwest monsoon delayed, the State Government will once again resort to cloud seeding operations in 10 rain shadow districts from June 15. The Chief Minister, Dr Y. S. Rajasekhara Reddy, directed officials to launch operations in ... More


Termination of dumping duty on EU chemical mooted
THE Designated Authority in the Commerce Ministry has recommended discontinuation of the definitive anti-dumping duty on imported D (-) para hydroxy phenyl glycine base (PHPG Base) from the European Union, after a mid-term review. In its final ... More


PM cautioned on lower growth, slow-down in economy
The Prime Minister, Dr Manmohan Singh, has been cautioned that the economy is slowing down and could see a low growth rate of 6.7 per cent this year unless the Government intervenes with some policy initiatives. The caution has come from the ... More

India insulated from global swings: Reddy
THE Indian economy is largely insulated from episodes of global financial instability, as the country has over the years built resilience to shocks and is less vulnerable to output volatility, according to the Reserve Bank of India Governor, Dr ... More

Service tax exemptions for infrastructure, gem & jewellery sectors announced
THE Finance Ministry on Tuesday announced a slew of service tax exemptions to provide an impetus to the infrastructure, construction, shipping and ports, and gems and jewellery sectors. Briefing newspersons on the latest changes in the service ... More

Karnataka clears projects worth Rs 14,000 cr
THE Karnataka Government has cleared projects worth Rs 14,000 crore which will create employment for one lakh people. The State Industries' Minister, Mr P.G.R. Sindhia, told newspersons on Tuesday that the State Cabinet cleared these projects ... More

Japanese investors upbeat on Bengal
EMBOLDENED by the success of Mitsubishi Corporation's Haldia PET project, a section of private Japanese investors in diverse business fields is keen on making fresh investments in West Bengal. These investors believe the State's political ... More


TN seeks tax sops for new units in tsunami-hit areas
THE State Government has asked the Centre to grant excise duty exemption for 10 years for all the excisable goods that will be manufactured by new industrial units, to be set up in districts affected by the December 2004 tsunami. It has also ... More


`Indo-Thai FTA may hurt domestic cos'
THERE is an urgent need to address the disabilities suffered by the Indian industry in the context of the Indo-Thai FTA. These are in terms of high cost of production, higher import duties, infrastructure service cost and huge interest rate ... More

`Australia, India must strengthen trade ties'
AUSTRALIA and India, particularly South India, can establish strong trade ties in infrastructure, energy, services, agriculture and food processing, according to Mr Alexander Downer, the Australian Foreign Affairs Minister. At a meeting ... More


Federal Bank(Aluva) ties up with AIMS for online booking
THE Aluva-based Federal Bank, in association with the Amrita Institute of Medical Sciences (AIMS), has launched online registration system for its customers to avail themselves of the health services provided by AIMS. The service - ... More


ONGC Karnataka project: PM's intervention sought
KARNATAKA has criticised the Union Petroleum Minister, Mr Mani Shankar Aiyar's statement that the Rs 25,000-crore petrochemical project of ONGC in the State was not feasible. "When the Centre can grant a mega petrochemical project to Gujarat, ... More


Patent-based ABS regime may reduce R&D investments
A PATENT-based Access and Benefit Sharing (ABS) regime may substantially decrease investments in research and development in biotechnology and pharmaceutical fields. Nations considering adoption of the regime must bear this in mind during ... More


Power trading to be transferred to discoms in AP
CONSEQUENT on the mandate of the Electricity Act 2003 on creation of `multi-buyer markets', power trading activity in Andhra Pradesh would be transferred to discoms (distribution companies) from Transmission Corporation of Andhra Pradesh ... More

Monsoon to fire up hydel power stations in Kerala
THE late arrival of the southwest monsoon this year has somewhat reduced the water storage level in the reservoirs of the major hydroelectric projects in the State compared to the inflow last year and it is expected to improve as the monsoon has ... More


VSP workers continue stir
THE contract workers in the Visakhapatnam steel plant continued their strike, for the sixth day on Tuesday, and reiterated their resolve to persist with it for a minimum wage of Rs 4,000 per month. At a meeting in the union office on Tuesday, ... More


Shipowners hail exemption of service tax
THE shipping industry heaved a sigh of relief on Tuesday as the Government issued a notification exempting shipowners from paying 10 per cent service tax on services taken by ships at foreign ports. The Government notification exempted services ... More


Assocham calls for coal import channelising agency
IN a bid to overcome the power crisis, Assocham has called for the creation of a channelising agency as a short-term measure to facilitate coal imports and thereby enable power plants to achieve 100 per cent capacity utilisation. The chamber ... More


ESPN bags 3-year telecast rights for hockey matches
ESPN-Star Sports has signed an exclusive three-year telecast deal for all international matches under the aegis of the Indian Hockey Federation (IHF). Under the agreement, ESPN-Star Sports will broadcast and market IHF Hockey Package, including ... More

BSNL offers tele-voting services
BSNL is betting on value-added services by offering tele-voting services to popular interactive television shows. It had most recently tied up with Star Plus for KBC 2. Speaking to newspersons, Mr R.L. Dubey, Director (Planning), BSNL, said it ... More

Channels not charging high ad rates for new game shows — Banking on in-programming placements
THE three mass Hindi entertainment channels are banking on three big shows — KBC 2 on Star Plus, Fame Gurukul on Sony and Business Baazigar - The Next Big Entrepreneur on Zee — to boost their television rating points and shore up the ... More


Centre plans integrated food law, authority
THE Centre is planning to come out with an integrated law on food and have a single regulatory authority. The Union Minister of State for Food Processing Industry, Mr Subodh Kant Sahay, told newspersons on Tuesday that the proposal will be ... More


Kraft paper units in South India cut down output, increase prices
KRAFT Paper Manufacturers of South India, an association of South Indian Kraft paper mills, will continue to shut shop four days a month to cut down production to buoy kraft paper prices and rein in raw material cost. At a meeting of the ... More


NRSA(Hyderabad) gets grant for digital maps
HYDERABAD: The National Remote Sensing Agency (NRSA), Hyderabad has got Rs 318.73 lakh for the preparation of digital maps of the hydro-geomorphological regions for Jharkhand, Himachal Pradesh, Gujarat, and Orissa. The funds, which come ... More


Readership survey
MUMBAI: The results of the National Readership Survey (NRS)— 2005 will be released on Wednesday. The survey covering 2,61,000 respondents has increased its sample size by 32 per cent and the number of locations by 120 per cent this ... More


Bengal may miss its favourite `Hilsa' this monsoon
HARD times are ahead for lovers of the hilsa. The hope of having a sumptuous meal of Bengal's favourite fish may not materialise this monsoon. Even if one catches a glimpse of it in the nearby market, beware of the price tag. Hilsa imports ... More

Evolve non-countervailable export incentive schemes: Plan panel
THE Planning Commission has plumped for instituting non-countervailable export incentive schemes in the wake of the WTO members' frequent complaint and countervailing action against Indian exports. In its mid-term appraisal (MTA) report of the ... More


R&D bodies to get grant for securing accreditation in Kerala
THE State Government has drawn up a scheme for payment of grant to approved research and development institutions for getting accreditation with international quality testing agencies. The scheme also envisages payment of grant to industrial ... More

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Campco wins order to export arecanut to Pak

Mines Ministry against disinvestment of Nalco

Hatchet to come down on indirect tobacco advertising

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