The Hindu Business Line : Saturday, August 27, 2005

Weather alarm for northwest; overall deficit 3 pc
CLEAR skies in the north and the northwest at this time of this year have prompted meteorologists to sound a warning that goes much beyond the `moisture stress watch' these areas have already been placed under. Speaking on condition of ... More

NRIS

RBI nod must for gifting securities to residents outside India
THOSE who transfer by way of gifts, securities including shares or debentures to residents outside India will have to obtain prior approval from the Reserve Bank of India. The value of the gift or security is not to exceed the rupee equivalent ... More

NRI Study Group nominee
HYDERABAD: The State Government has nominated Ms Sadhana Seelam, resident of Pleasanton, as one of the 3-member NRI Study Group under the Chairmanship of the Minister for Information and Public Relations, Mohd Shabbir Ali. ... More

NON-CONVENTIONAL ENERGY

Emami diversifying into jatropha cultivation
The company is looking at acquiring foreign brands or entering into arrangements with foreign brands in the personal and healthcare sectors. More

Ammana Bio sets up unit to make ethanol from sorghum
ETHANOL supplier Ammana Bio Pharma Ltd has set up what it claims to be the country's first unit to derive ethanol from the grain crop sorghum (Sorghum bicolour), the sweet variety of which is used mainly as livestock fodder. The Executive ... More

Funding Enercon project
MUMBAI: IL&FS Investmart has raised Rs 488.6-crore term loan for a wind farm project of Enercon India. A consortium of seven banks and institutions led by Punjab National Bank extended the requisite financing, IL&FS Investmart said in a ... More

COURTS/LEGAL ISSUES

Wife's engagement as special counsel — Chidambaram's resignation demanded; CBDT clarifies
THE Bharatiya Janata Partyhas demanded the resignation of the Finance Minister, Mr P. Chidambaram, in a sequel to the Central Board of Direct Taxes (CBDT) engaging his wife, Ms Nalini Chidambaram, as `special counsel' to represent the Income-Tax ... More

The case in question
THE case that has brought Ms Nalini Chidambaram into the spotlight relates to an income-tax dispute on treatment of a certain expenditure as capital or a revenue expenditure. Informed sources said the question of law that was to be settled ... More

ECONOMY

Drop in minerals prices pulls down inflation
THE annual wholesale price index-based inflation was at 3.13 per cent during the week ended August 13 as compared to the corresponding week last year. The growth in the year-on-year inflation was lower than the previous week's 3.35 per cent, ... More

Kamal Nath outlines measures to boost investment in M.P.
THE Commerce and Industry Minister, Mr Kamal Nath, today announced that Indore would be developed as an international airport, an international trade convention centre would be set up in Bhopal, the Dewas Industrial Cluster would be designated as ... More

India Inc hails Outcome Budget
INDIA Inc. welcomed the first ever Outcome Budget announced by the Finance Minister today. The chambers unanimously stated that the move would bring transparency in the implementation and monitoring of on-going projects. The Associated Chamber ... More

Supplement to Outcome Budget in a few months
IN a bid to provide a clearer picture about the real situation of the economy, the Government plans to present a supplement to the Outcome Budget within the next few months. The Outcome Budget was placed in Parliament on Wednesday. The ... More

ENVIRONMENT

Pampa Action Plan still in limbo
NON-implementation of the first phase of the Pampa Action Plan (PAP) project, which was sanctioned by the Centre under the National River Conservation Programme (NRCP) about two years ago, has deprived the State of subsequent allocations besides ... More

PSU

AP CM announces profit-sharing for SCCL staff
THE Chief Minister, Dr Y.S. Rajasekhara Reddy, today announced 12 per cent of profits (profit after tax) to be shared as special incentive for Singareni Collieries Company Ltd (SCCL) employees. He made the announcement in the presence of the ... More

PETROLEUM

IOC may get equity oil in Nigeria
This is in return for the company's proposal to set up a greenfield refinery in Nigeria's Edo state. A decision on the issue is expected in a couple of weeks. The proposed refinery will be the first such investment on the part of IOC outside the ... More

Advisory panel to suggest integration of oil PSUs: Aiyar
CLOSE on the heels of the high-level Committee on Synergy in Energy submitting its report, the Minister for Petroleum & Natural Gas, Mr Mani Shankar Aiyar, has announced that an advisory committee would suggest integration and restructuring of .. More

PHARMACEUTICALS

Reducing price burden on consumers — Rope in healthcare sector, says drug industry
THE drug industry has long complained of being the Centre's `favourite whipping boy' when it comes to the price of medicines. With the concern being on reducing the price burden on consumers, drug companies suggest that other stake-holders in ... More

PLASTICS

Plastic manufacturers to meet Maharashtra CM
THE All India Plastic Manufacturers Association (AIPMA) will represent the plastic manufacturers of Maharashtra before the Chief Minister, Mr Vilasrao Deshmukh, in the coming week and explain their position on the ban on plastics bags. "If the ... More

POWER

Centre should stop providing funds to Delhi's private discoms: Panel
THE Parliamentary Standing Committee on Energy has asked the Union Government to exclude Delhi's private power distribution companies from access to cheap funds under Central schemes citing less than satisfactory use of the money. This comes in ... More

TEXTILES

European clothing retailers draw flak
THE International Textile, Garment and Leather Workers Federation has described the current campaign by European retailers against the EU's recent restraints on textile and clothing imports from China as "exaggerated" and devoid of ... More

SSI

SMEs to gain from procurement policy for defence sector
SMALL and medium enterprises (SME) sector, particularly those catering to the defence and aerospace segments, are in for a major boost, with the Centre finalising a long-term procurement policy for defence purposes. The strategy would identify ... More

TYRES

Automotive tyre exports up 6.3 pc
EXPORTS of automotive tyres and tubes touched $348.78 million (Rs 1,525 crore) in 2004-05, which represented a 6.34 per cent increase to the export performance of $328 million recorded in fiscal 2003-04. The country's exports of auto tyres in the ... More

FOODS & FOOD PROCESSING

Proposed food-processing park — Goa offers tax sops for units
THE Goa Industries Minister, Mr Luizinho Faleiro, on Thursday announced major incentives for setting up units in the proposed food-processing park at Quepem in South Goa. Replying to a debate on budgetary demands for grants of the Industries ... More

INDUSTRY ASSOCIATIONS

Recruiters body to evolve code of ethics
WITH economic buoyancy driving the job market, head-hunters and recruiters no longer want to merely compete in the marketplace, but prefer to grow collectively chanting `co-opetition' mantra while setting new benchmarks and evolving a code of ... More

Call for internal trade policy to help retail sector
BEFORE partially opening up the $190-billion retail sector in the country to foreign direct investment, the PHD Chamber of Commerce and Industry has urged the Government to evolve a comprehensive internal trade policy to promote internal trade in ... More

HANDLOOM

AP lines up measures to revive handloom sector
THE State Government has planned a series of measures to revive the handloom sector, including a pension scheme for weavers. The Government has decided to extend Rs 1.5 lakh compensation package offered to suicide by farmers to the weavers ... More

BIO-TECH & GENETICS

Biotech team to visit China
THE Federation of Indian Chambers of Commerce and Industry (FICCI) is organising the visit of a biotech delegation to China from September 11 to 19.During the trip it has planned to arrange one-to-one business meetings and visits to some ... More

SCIENCE & TECHNOLOGY

Army chief stresses need for tech superiority
THE Chief of Army Staff, Mr J.J. Singh, has called upon scientists and technologists to join hands with the armed forces for technological superiority. Delivering the convocation address at the graduation ceremony of the Training School of ... More

MINERALS

`PSUs first' for iron ore mining leases, says panel
PUBLIC sector companies should be given first priority for allocation of iron ore mining leases. This has been recommended by the R.K. Dang committee set up by the Ministry of Steel to frame guidelines for allocation of iron ore mining ... More

FOREIGN DIRECT INVESTMENT

Industrial park: Bengal CM signs MoU with Indonesia
WITH the West Bengal Chief Minister, Mr Buddhadeb Bhattacharjee, conveying a political message to the international business community that his Government is determined to stay on its "reform" course, a memorandum of understanding (MoU) has been ... More

RURAL DEVELOPMENT

`New model of education needed for rural India'
A new, alternative model of education is needed in the villages across the country to trigger rural development and rejuvenation, said Dr B.V Parameswara Rao, founder of the Bhagavatula Charitable Trust. Dr Rao, who gave up his career as a ... More

HUMAN RESOURCES

Foreign pilots may be hired to fly Air India's B777s
AIR India, which is looking to expand its reach in the global market, plans to employ more foreign pilots. Official sources told Business Line that the airline was not only looking to recruit foreign captains for operating flights of its ... More

EVENTS

Fair power
A view of a stall at EL ASIA 2005, an international exhibition on power, electrical and industrial electronics at Palace Grounds in Bangalore on Friday. During the next five days, around 20,000 visitors are expected to visit the expo and orders ... More

INCOME TAX

Govt to issue circular on FBT queries by month-end
The rationale behind FBT was to ensure efficiency of resource allocation by taxing all factors of production equitably. More

INVESTOR PROTECTION

SEBI to end discretionary share allotment to QIBs
THE Securities and Exchange Board of India has decided to amend the share allotment norms for institutional investors in public issues. According to the decisions taken at the SEBI board meeting today, the allotment of shares to qualified ... More

BOOKS

Book on Indian industrialisation released
THE book India: Industrialisation in a Reforming Economy-Essays for K L Krishna was released at a function organised in the Capital on Friday. The volume contains a set of papers on Indian industrialisation in the context of market ... More

Comments & Letters to the Editor to: bleditor@thehindu.co.in
Subscribe to: Business Line