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Saturday, July 09, 2005

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INDUSTRY & ECONOMY

CLIMATE & WEATHER


34 pc above normal rainfall in one week
LEAVING behind a June rainfall deficit of 15 per cent, southwest monsoon seemed to have turned the corner to generate a surplus of 34 per cent for the week ended July 6. Of the 36 meteorological sub-divisions, 14 experienced excess rainfall ... More

Southwest monsoon gets active across AP
AFTER nearly a three-week lull phase, the southwest monsoon was active bringing widespread rain across various parts of Andhra Pradesh, bringing cheer to the farmers and city folk. Caused by a cyclonic upper air circulation over the Bay of ... More

Sudden succour
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SOCIAL SECURITY


EPFO proposes bar on early withdrawal of PF contributions
PREMATURE withdrawal of provident fund accumulations by subscribers of the Employees' Provident Fund Organisation (EPFO) who exit in mid-course could soon be a thing of the past. Alarmed at the rising trend of early withdrawals that threatens ... More

ANTI-DUMPING


Dumping probe on nylon filament yarn, saccharin imports
THE Designated Authority in the Commerce Ministry has initiated anti-dumping investigation into imported nylon filament yarn from China, Chinese Taipei, Malaysia, Indonesia, Thailand and South Korea. The product under probe is synthetic ... More

ECONOMY


Govt lowers foodgrains production estimates
FOODGRAINS production for the 2004-05 crop year has been estimated to be lower than the previous year by about nine million tonnes (mt). The Fourth Advance Estimates released by the Ministry of Agriculture on Friday have lowered the ... More

India Inc CFOs pitch for better fuel access — Bottlenecks that impede growth will be removed: Chidambaram
IMPROVEMENT in infrastructure, easier access to coal, lignite and iron ore, financial sector reforms and stronger intellectual property rights regime were some of the issues that figured prominently in Friday's meeting between the Finance ... More

Inflation increases on costlier food, energy
THE annual wholesale price index-based inflation rose to 4.14 per cent during the week ended June 25, up from the previous week's 4.1 per cent. The increase in the year-on-year inflation rate was mainly due to a rise in food and energy prices, ... More

Key to growth lies in quality of labour: ISED
DISCUSSIONS and debates at various forums of late in Kerala hover around the employment potential of the projects being proposed to be set up in the State. In a bid to achieve this objective, more recent debates have focused significantly on ... More

ENVIRONMENT


Oil exploration: Ministry to study impact on Olive Ridleys
TO assess the impact of petroleum exploratory work on Olive Ridley Turtles, the Ministry of Environment and Forest (MoEF) has been asked to get a detailed study undertaken, which could reveal environmental conditions during exploration phases in ... More

EXCISE AND CUSTOMS


M. Jayaraman is CBEC Chairman
THE Central Board of Excise and Customs (CBEC) has a new Chairman in Mr M. Jayaraman. He has replaced the current Chairman, Mr A.K. Singh, who demitted office on Friday. Mr Jayaraman, who was Member (Customs) prior to the current elevation, ... More

HEALTH


US official cautions on economic cost of HIV/AIDS
THE private sector must increase its participation in preventing HIV/AIDS and caring for those affected, said Mr Robert O. Blake, Charge d'affaires with the United States Embassy. Business growth could be jeopardised if more is not done to ... More

PETROLEUM


New disclosure norms for oil, gas exploration cos in the pipeline
THE Directorate-General of Hydrocarbons (DGH) is expected to come out, within a month, with a new set of disclosure guidelines for oil and gas exploration companies operating in India. In the recent past, some of the companies active in this ... More

Indian crude oil basket at peak
NEW DELHI: The price of the Indian crude oil basket touched an all-time high on Thursday. The price was at its peak at $56.62 a barrel, up from $56.56 on Wednesday, according to the data from the Ministry of Petroleum and Natural Gas. A ... More

POWER


Dabhol issue: Bechtel team heads to London for talks with Indian lenders
BECHTEL Corporation, which is yet to come on board on the Dabhol settlement issue, has despatched a team to London for negotiations with Indian stakeholders. The meeting could stave off the impending arbitration proceeding slated to commence ... More

TAXATION


Trade plea for early VAT implementation
TRADE and industry circles here have appealed to the Chief Minister to introduce value added tax (VAT) system in the State, to avoid flight of trade and industry to neighbouring States. The Tamil Nadu Chamber of Commerce and Industry, in a ... More

WATER


Coca-Cola welcomes move on ground water usage
THIRUVANANTHAPURAM: Coca-Cola India has said that it welcomes initiatives to set up a body for monitoring ground water usage in the State. A Coca-Cola spokesman said here that the company would wish to work with such a body in Kerala to ... More

Water level in Kerala reservoir increases
THIRUVANANTHAPURAM: Water levels at the three major reservoirs in the State — Idukki, Idamalayar and Kallada - have recorded an increase when compared with those of the previous week. According to the Central Water Commission ... More

PERSONAL PRODUCTS


NSS data puts FMCG market size at Rs 89,000 crore
DATA released by the National Sample Survey suggest that Mr M.S. Banga, former Chairman of Hindustan Lever, may have underestimated the size of the FMCG market when he put the current figure at a mere Rs 40,000 crore during his recent speech at ... More

EDUCATION


Education fair opens in Delhi
NEW DELHI: Six Korean Universities are showcasing their courses to Indian students at the 24th Indian International Education and Career Fair being organised in New Delhi. These universities are offering undergraduate and masters ... More

GEMS & JEWELLERY


Gems & jewellery exports seen growing 15% this fiscal
THE total gems and jewellery exports from the country are seen growing at 15 per cent during the current fiscal on sustained overseas demand, said Mr Bakul Mehta, Chairman, Gem & Jewellery Export Promotion Council (GJEPC). Exports are likely ... More

REAL ESTATE & CONSTRUCTION


AP HC stays VUDA housing project
THE mega Rs 139-crore housing project, contemplated by the Visakhapatnam Urban Development Authority (VUDA) at Madhurawada village and awarded to the Singapore company Jurong, has run into rough weather again, as the AP High Court has stayed it ... More

HI-REF announces closing
HDFC Property Fund announced the closing of its first real estate venture fund, on Friday, said a press release. Called HDFC India Real Estate Fund (HI-REF), the seven-year close-ended venture fund, which was privately placed, has a cumulative ... More

PRECIOUS METALS


Straight deal
A salesman displays ornaments at a jewellery shop in Kochi. With the tax on gold jewellery reduced from 4.6 to 1 per cent under VAT in the State, there has been a 150 per cent increase in the purchase of gold with bills. The current tax rate for ... More

FOREIGN DIRECT INVESTMENT


India pips Russia to become most happening retail destination
IN anticipation of the Government allowing foreign direct investment (FDI) in the retail industry, the world's top retailers have said India presents the most compelling international investment opportunity for mass merchandising and food ... More

`India must liberalise further to sustain growth'
`Despite improvement in India's policy milieu, FDI interest remains rather narrow even in promising fields such as IT.' More

AP CM seeks Israeli investments in infrastructure, telecom
Dr Reddy said that MoUs were signed with Brandix Lanka Ltd, Jindal Group and Hitech Textile Park whereby employment opportunities in the State were likely to shoot up considerably. More

TRADE & LABOUR UNIONS


Bengal strike to result in `long-term damage' to tea industry
EXPRESSING anguish over the decision of trade unions to launch an indefinite strike in the tea gardens in North Bengal from July 11, to press for a wage increase for workers, the tea industry here has said that any strike at this stage will ... More

OFF-SHORE DEVELOPMENT


Book on offshore services launched
THE Offshore Nation is not one country of region but a world of buyers and sellers, linked by a desire for higher productivity, lower costs and matching supply with demand, according to Mr Atul and Mr Avinash Vashishta, co-authors of `The ... More

EVENTS


Kalam to deliver inaugural address at `Mission 2007' meet
THE President, Mr A.P.J. Abdul Kalam, would deliver the inaugural address at the `Second Convention of the National Alliance Mission 2007: Every Village a Knowledge Centre' to be held here on July 11. "Achieving a sustainable human security is ... More

CII (east) to hold meet on retailing on July 14
THE Confederation of Indian Industry (Eastern Region) will organise an exclusive conference on retail and retailing activity in the eastern region on July 14. The conference, which will "analyse the science of shopping", will be addressed by, ... More

Come, take Thailand home
Visitors checking out products on the inaugural day of the three-day `Thailand Exhibition 2005' at the Chennai Trade Centre on Friday. The exhibition showcases a range of Thai products including food and beverages, furniture, textiles, household ... More

ALTERNATIVE MEDICINES


Centre grants Rs 29 crore for ayurveda cluster
THE Central Government has sanctioned Rs 29 crore to the Confederation for Ayurvedic Renaissance Keralam Pvt Ltd (CARe-Keralam) for setting up an ayurveda cluster in Thrissur district, says an official press release. CARe-Keralam is a joint ... More


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Top Stories
34 pc above normal rainfall in one week


Dabhol issue: Bechtel team heads to London for talks with Indian lenders

ONGC keen on coal bed methane projects — Shortlists 8 companies for final bidding

IT majors may better projections in Q1

Banks getting finer rates on overseas loans

Gems & jewellery exports seen growing 15% this fiscal

Fund houses pitching for built-in ELSS option

Wanted, a new strategy to combat terror

In Focus

BHEL Disinvestment
China's revaluation
Dabhol power regenerated
Tracking the rains
Sethusamudram Canal Project
India Inc's overseas acquisition
More

In Depth

Gender Justice
Simple Economics
Tax Talk
More

Looking back
Jun. 26-Jul. 2
Asian `biotech hotbeds' must develop USP: E&Y report

Keen interest in bio-based materials

Shortfall in April fertiliser production

Paper prices set to rise soon

Moon mission to carry 3 European instruments

Allow 100% foreign ownership in satellite radio broadcasting: TRAI

Maharashtra FDA questions claims of nutraceuticals

Infrastructure growth slips to 5.6 pc in May

Vigorous monsoon spell in North India

Some States unhappy with TFC's suggestion on market borrowing

Govt asks IOC to seek second opinion on IBP merger swap ratio

ONGC to net Rs 1,400 cr thanks to hike in gas prices

Jewellery market estimated at over Rs 58,000 cr: Survey

NDC `endorses' 10th Plan Mid-Term Appraisal

Monsoon turns rampaging current in north, west

India, Singapore trade to touch $50 b by 2010: Assocham

Current account surplus in Q4 — Trade deficit for the year at record $38 b

Industry welcomes new FM radio policy

`Singapore pact is a step towards India-Asean FTA'

Govt working on special credit plan for SMEs


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