The Hindu Business Line : Friday, November 04, 2005

Northeast monsoon active again
NORTHEAST monsoon came back from a recess to trigger an active spell of rain over North Tamil Nadu during the 24 hours ending Thursday morning. The contiguous meteorological subdivisions of coastal Andhra Pradesh, Rayalaseema and South Interior ... More

AUTOMOBILES

Cabinet okays move to join auto tech regulation pact
IN a move that will facilitate export of vehicles and reduce the cost of auto parts development and production, India today decided to join the 1998 agreement on Global Technical Regulations (GTR) for automobiles. The Union Cabinet gave a ... More

ECONOMY

Karnataka among the most indebted States
THE Karnataka Government is counted amongthe most indebted States in the country, almost on par with the Eastern States. The State Government's consolidated debt stock is estimated at 37 per cent of the gross state domestic product (GSDP) for ... More

Inflation slows on cheaper food, energy
THE annual Wholesale Price Index-based inflation rose 4.49 per cent during the week ended October 22, slower than the previous week's annual rise of 4.71 per cent. The fall in the year-on-year inflation growth rate was largely on account of lower ... More

EXCISE AND CUSTOMS

Sopa opposes palm oil duty cut
CHENNAI: The Soyabean Processors Assoication of India (Sopa) has opposed any move to cut the Customs duty on crude palm oil. Mr Rajesh Agrawal, President, Sopa, in a letter to the Union Agriculture Minister, Mr Sharad Pawar, said any such ... More

FOREIGN TRADE

India to amend tax avoidance treaty with Italy to boost trade
THE Union Cabinet has decided to amend the Double Taxation Avoidance Convention with Italy with a view to boosting trade and investment. "The Cabinet today gave its approval for signing of the protocol amending the Double Taxation Avoidance ... More

INFRASTRUCTURE

SPV for infrastructure funding approved — Govt to guarantee borrowing up to Rs 10,000 cr
THE Cabinet approved on Thursday the setting up of a special purpose vehicle (SPV) to fund mega infrastructure projects. Borrowing up to Rs 10,000 crore by the SPV — India Infrastructure Finance Company Ltd (IIFCL) — during the ... More

Infrastructure SPV welcome, but speedy clearances vital: Industry
THE Union Cabinet's approval for establishment of a special purpose vehicle (SPV) for financing viable infrastructure projects has been welcomed by the infrastructure development and finance sectors. However, the view held by a cross-section ... More

More land for pharma city in Vizag dt.
VISAKHAPATNAM: The District Collector, Mr Praveen Prakash, has instructed the revenue officials to take steps to acquire 250 acres in the vicinity of Parawada in addition to the previously sanctioned 2,000 for the proposed pharma city in ... More

PETROLEUM

State Govt may pick up token stake in Rajasthan Refinery
THE Rajasthan Government may pick up a participatory stake in the proposed 7.5-million-tonne Rajasthan Refinery Ltd (RRL). The Rs 9,000-crore refinery will be set up as a 50:50 joint venture between ONGC and Cairn Energy. MRPL has been ... More

STEEL

Orissa signs MoUs with 5 cos for setting up steel plants
THE Orissa Government on Thursday signed five memoranda of understanding (MoUs) with different private companies for setting up steel plants in the State, taking the total number of MoUs for steel plants to 42. The MoUs were signed at the State ... More

Chambers welcome new steel policy
INDIA Inc welcomed the Cabinet clearance of the new steel policy on Thursday, which targets the per annum steel production of 100 million tonnes by 2020 from the existing level of 30 million tonnes. The Federation of Indian Chamber of Commerce ... More

CITU opposes private investment in VSP
THE Centre of Indian Trade Unions (CITU) is critical of the proposal of the Visakhapatnam Steel Plant (VSP) to invite private investment to the extent of Rs 1,000 crore for setting up additional power plant and air separation plant as part of ... More

Upward curve
Steel bars being produced at a manufacturing unit near Kochi. Prices of steel bars have gone up by Rs 300 to 400 a tonne in the State.

TEXTILES

SIMA to host Tex Spares in July next
THE Southern India Mills' Association (SIMA) is to hold `Tex Spares 2006', its third edition of industrial exhibition on textile spares, accessories and consumables next year. The international expo that will showcase the wide gamut of textile ... More

SSI

Enterprises in South keen to get rated by SMERA
SMALL and medium enterprises (SMEs) in the South have grabbed the opportunity to be rated by the SME Rating Agency of India Ltd (SMERA) by dominating the list of units that have applied to the agency in the first month of its operations. (SMERA ... More

BREWERIES

Blender's pride
Friends and customers bank on restaurateur Ramesh Nedungadi to come up with the perfect wine for the occasion. More

REAL ESTATE & CONSTRUCTION

Jain Housing enters Kerala with two luxury apartment projects
THE Chennai-based Jain Housing and Constructions Ltd is entering the Kerala market with two luxury residential apartment projects in Kochi. According to Mr Sandeep Mehta, Executive Director of the company, the total project cost of the two ... More

NEWSPAPERS & PUBLISHING

Ink positive
Timely payments, quality content and good production values... Kizhakku Pathippagam infuses new energy into the world of Tamil publishing. More

GENDER

Handholding women investors
He heads a large financial services company, but C.J. George has never ever invested in equity; "these days I don't even look at the Sensex". More

FOREIGN DIRECT INVESTMENT

Caution, please, on FDI in retail
MUCH OF the political class and economists across the country sing the foreign direct investment chorus — some with enthusiasm and some with reluctance. FDI flow, they say, will address India's perennial problems ... More

`Go slow' on FDI in retail sector
THE Government should wait for a few years before allowing Foreign Direct Investment in the domestic retail sector, thereby providing the industry time to mature further, Mr Kishore Biyani, Managing Director Pantaloon Retail India, ... More

SOCIAL WELFARE

Cabinet okays setting up of National Investment Fund — UTI MF keen on managing it
UTI Mutual Fund would like to pitch for handling the proposed National Investment Fund, according to the newly appointed CEO, Mr U.K. Sinha. The setting up the fund, to be created through disinvestments proceeds, was cleared during the day by ... More

Peace and more
Exuding genuine warmth and concern, Maya John Ingty helps people help themselves in several strife-torn Northeast areas. More

HUMAN RESOURCES

`Starvation' deaths: Migrants' families to get compensation
The construction company will be asked to strictly abide by the laws and furnish information as and when required by the Government. More

EVENTS

Hannover Tech Fair to host India as partner country
HANNOVER Technology Fair 2006, the largest and most important technology fair in the world, would host India as the partner country, in recognition of its growing power as a preferred destination for high-end and scale-neutral manufacturing, the ... More

ENTREPRENEURSHIP

Tulasi Seeds gets best entrepreneur award
IN 1990, Mr Tulasi Ramachandra Prabhu of Guntur took to cotton cultivation, which promised good returns. In the first year, the hybrid he used did live up to the promise, and he made some money. The next year, he brought more land under the ... More

EXPORTS & IMPORTS

CII-AP Govt meet on export excellence begins on Nov 8
THE CII, in association with the Andhra Pradesh Government, is organising a two-day conference on `Export Excellence' from November 8. The conference is aimed at showcasing opportunities and the importance of Andhra Pradesh as a potential ... More

Steps mooted to cut down transaction costs for exporters
INDIAN exporters, suffering from several structural constraints that impede the country's foreign trade and contribute substantially to transaction cost, might look for a comfort zone, if the proposed recommendations of an official team are ... More

NATURAL CALAMITIES

TN seeks Rs 1,120 cr for flood relief
THE Tamil Nadu Government has asked the Centre to grant Rs 1,120 crore for flood relief and restoration work following the recent spell of heavy rains. The Chief Minister, Ms Jayalalithaa, in a letter to the Prime Minister, Dr Manmohan Singh, ... More

ECONOMIC OFFENCES

Govt `deeply concerned' about Volcker report
THE Government on Thursday said that it is "deeply concerned about the unverified references" made about Congress party and the External Affairs Minister, Mr Natwar Singh, in the Volcker report on corruption in a UN aid programme in Iraq. The ... More

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