Financial Daily from THE HINDU group of publications
Friday, July 22, 2005
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Wet spell on in North-East and peninsula
THE monsoon trough continued to run close to the foothills of the Himalayas on Thursday, causing rainfall activity to remain confined to the North-Eastern States, sub-Himalayan West Bengal, and areas close to the foothills and South peninsular ... More

Against the tide
A giant wave crashing into the Valiathura beach in Thiruvananthapuram has just toppled a catamaran and its crew over. The sea is very rough during these monsoon days and fishermen have been warned against venturing out. But those manning the ... More

Wet track
Trains in Mumbai were cancelled or delayed due to flooding of tracks caused by heavy rains on Thursday. Commuters were left stranded and had to either wait a couple of hours for the next train or continue their journey by ... More


Cement cos keen on tie-up with SAIL — EOIs for plants at Bhilai, Bokaro
LEADING cement companies such as Jaypee Cement, Shree Cement, Birla Corporation and the State-owned Cement Corporation are keen on joining hands with Steel Authority of India Ltd (SAIL) to set up joint venture cement plants at Bhilai and ... More


AP Govt to monitor tribal health
HYDERABAD: Following reports of high prevalence of malaria and gastroenteritis in the tribal areas of Visakhapatnam and East Godavari districts, the Andhra Pradesh Government has sent search teams for detection and treatment. Addressing ... More


Aiyar, Chidambaram discuss composition of oil firm boards
THE Petroleum Minister, Mr Mani Shankar Aiyar, today met the Finance Minister, Mr P. Chidambaram, to discuss the board composition of oil companies, particularly ONGC. The two also discussed the role of the Finance Ministry nominee on the ONGC ... More

Marginal dip in crude oil production
THE country's crude oil production in the first quarter of the current fiscal saw a marginal drop to 8.426 million tonnes (mt) from 8.483 mt in the corresponding period previous year, according to a latest data released by the Petroleum Ministry. ... More

Financial closure of ONGC Tripura Power likely this fiscal
ONGC is hopeful of financial closure of ONGC Tripura Power Ltd (OTPL) in this fiscal. The detailed feasibility report for the project is expected to be ready by October this year. The State Government has already forwarded the company's plea ... More

IOC plans to alter refining process, product profile
INDIAN Oil Corporation (IOC) is working to bring about a sea change in its refining process and product profile by 2009. The aim is to take advantage of emerging technologies, which can use more of cheaper and easily available heavy and sour ... More


More global buys by pharma cos likely
IN the last 10-odd months, the Indian pharma industry has possibly seen the single largest number of global transactions in its 50-year history. But the appetite of domestic drug companies has only been whetted and more global acquisitions are ... More


No let-up in movement of ore to steel plants
THERE'S no let-up in rail movement of iron ore, either for domestic consumption or for exports, despite reports of cooling of the steel sector. If anything, the movement of ore to public sector steel plants has gone up. Railways sources said ... More


Textile items to come under VAT from April 1
STATES are likely to impose value added tax (VAT) or sales tax on all textile items with effect from April 1, 2006, according to a top VAT panel official. This follows a decision between the Centre and the States that the latter be allowed to ... More


HSBC launches credit facility for SMEs
HONGKONG and Shanghai Banking Corporation (HSBC) on Thursday launched an unsecured credit facility for small and medium enterprises (SMEs). Under the new loan facility - `Business Credit' - SMEs can get credit up to Rs 15 lakh without any ... More


Kerala Govt to move Supreme Court against HC order on Coca-Cola plant licence
THE State Government is planning to move the Supreme Court against the order of the Kerala High Court directing the Perumatty panchayat to renew the licence of Coca-Cola bottling plant at Plachimada in Palakkad district. The Local ... More


Govt fixes floor price for e-auction of coal
The Ministry of Coal has decided that the floor price for e-auctioning of coal should be fixed at 20 per cent above the Coal India Ltd's (CIL) notified price. This price would be applicable from the next round of auction. The move follows a ... More


Rajeev Chandrasekhar may tune into FM radio
"We are likely to bid for licences in some circles, mostly in the South." More


Jewellery exports: Value-addition policy norms restored
THE Government has restored the policy provisions that existed on March 31, 2005 in respect of minimum value- addition norms for export of jewellery. The latest move has come at the request of the trade which was facing difficulties in ... More


2 NTC properties sold for Rs 862 cr
PRICES of Mumbai mill properties have gone through the roof, with the latest two properties on the block going for a total of Rs 862 crore. Indiabulls Real Estate Company Pvt Ltd, part of Indiabulls Financial Services, was the highest bidder at ... More

CII plans seminar on green buildings
THE Confederation of Indian Industry plans to hold an international conference on green buildings in New Delhi on September 15 and 16. Mr C.N. Raghavendran, Chairman, LEED (Leadership in Energy & Environmental Design) India Committee, Indian ... More


Bengal, Jharkhand consider policy framework for sharing minerals
WEST Bengal and Jharkhand will jointly approach the Centre soon for putting in place a policy framework that would enable both to share their mineral resources for "mutual interest". The Chief Minister of Jharkhand, Mr Arjun Munda, on Thursday ... More

UCIL hopeful of nod for Nalgonda project
THE Uranium Corporation of India Ltd (UCIL) is quite optimistic that its proposed Rs 657-crore uranium mining and ore processing project in Nalgonda district of Andhra Pradesh will go through regulatory rigour, despite stiff opposition from ... More


BMW dashes Kerala's hopes, prefers TN
IT is the same story of hype, hope and despair at the end, as far as Kerala's quest for a major investment is concerned. German automaker BMW has also found neighbouring Tamil Nadu a better place to invest in than God's Own Country. So, ... More


AP finance panel to study fund devolution for local bodies
THE Third State Finance Commission has been entrusted with the mandate to look into various aspects of devolution of powers and funds to panchayat raj institutions along with matters related to tax collection for better revenues. Addressing a ... More


Industry-R&D linkage programme
THIRUVANANTHAPURAM: The Government is launching a programme to strengthen the linkage between industry and research and development (R&D) institutions for mutual benefit. The event, styled `InduSearch', is being organised by the Kerala ... More


IT returns to be accepted on Aug 1
SALARIED taxpayers and other non-corporate assessees whose accounts are not required to be audited can file their income-tax returns with the tax department even on August 1. The Finance Ministry on Wednesday said that the due date for filing ... More


Grapes export may recover after sharp fall last year
EXPORT of grapes to the European Union is likely to rise to 1,800 containers (14 tonnes each) this year, while in the long term there is a potential to export 3,000 containers, a study on export opportunities for Indian table grapes has said. ... More

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Top Stories
Sugar mills get Nabard package on debt

Govt fixes floor price for e-auction of coal

Rajeev Chandrasekhar may tune into FM radio

Yuan revaluation: IT companies see no major impact

Yuan effect: Rupee may strengthen

No let-up in movement of ore to steel plants

Financial sector reforms no help to real economy

In Focus

Dabhol power regenerated
China's revaluation
Tracking the rains
Sethusamudram Canal Project
Indo-S'pore Economic Treaty
India Inc's overseas acquisition

In Depth

Gender Justice
Simple Economics
Tax Talk

Looking back
Jul. 10-Jul. 16
Lankan pepper imports taking toll on local trade

Ministry expects 25 pc growth in textile exports

Free trade pacts turning a tool to dump spices

Even chances for a `break monsoon'

PMO working on pharma policy

Oil installations sitting ducks for hurricanes

Five commodities emerge top performers in April '05 exports

India consumed Rs 41,000-cr junk food in 2003

Shrimp exports fall sharply post-tsunami

Car sales marginally down in June

FM radio: Govt fixes net worth norm

FDI in real estate bogged down by ambiguity in norms: FICCI survey

Garment exporters grapple with tax, DEPB problems

LNG transportation — Shipping Ministry to counter move to relax charter norms

Global uncertainties have increased, says RBI Governor

Petrol dealers drop strike plan

Rogue Bay system seen delaying `break monsoon'

Indian textile exporters plan to sell their brands abroad

Price stability, prime concern for RBI

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