Financial Daily from THE HINDU group of publications
Friday, December 02, 2005
Markets (December 02 - 14.50 IST)
BSE Sensex8962.53(+17.75)
S&P CNX Nifty2694.00 (+6)
US Dollar (Buy/Sell)46.19/46.20



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Cyclone `Baaz' may break out of jam to make landfall
TROPICAL cyclone Baaz refused to do the weatherman's bidding on Thursday as a combination of factors forced it to extend the vigil over the southwest Bay of Bengal waters for the better part of the last 24 hours. Forecasts by various models ... More


Insurance companies may be allowed pension biz under existing entity
THE door is still open for Indian life insurance companies to enter the pension sector without the need to float a separate outfit for managing pension funds. The interim Pension Fund Regulatory and Development Authority (PFRDA) is looking at ... More


Renewable energy group opens secretariat in Delhi
THE Renewable Energy and Energy Efficiency Partnership (REEEP) announced the opening of its South Asia Regional Secretariat at the Asian Energy Institute (AEI) in New Delhi. REEEP is a public-private partnership formed in 2002 during the World ... More

IOB, Classic Jatropha tie up to promote biofuel
INDIAN Overseas Bank and Classic Jatropha Oil (India) Ltd of Coimbatore entered into an agreement here today to promote jatropha cultivation for biofuel production. Under the agreement IOB will provide crop loans to farmers identified by ... More


Pre-budget talks: FICCI pitches for corporate tax cut
THE Federation of Indian Chambers of Commerce and Industry (FICCI) has urged the Finance Ministry to reduce corporate tax rate to about 25 per cent. The chamber also sought a lower rate of 20 per cent for smaller companies. A FICCI delegation, ... More


Centre's fiscal deficit up 48.17 pc in April-Oct
THE Centre's fiscal deficit has recorded a 48.17 per cent increase during April-October 2005 to Rs 92,068 crore, as compared to deficit level of Rs 62,135 crore recorded in the same period last year. The fiscal deficit of Rs 92,068 crore ... More


FAPCCI plea to let Customs clearance of goods under ATA Carnet
THE Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) has appealed to the Union Government to let customs clearance of goods under ATA Carnet at the Hyderabad Airport and Vizag port. ATA Carnet is an international customs ... More


SAFTA agreement finalised: Minister
THE Union Commerce and Industry Minister, Mr Kamal Nath, on Thursday said the implementation of the South Asian Free Trade Area (SAFTA) agreement from January 1, 2006 would further strengthen India's relations with the seven-member countries of ... More

`Big scope in Indo-EU agro-food trade'
TRADE between India and the European Union has immense potential in the agricultural and food sectors, an area the EU is looking at seriously, according to Ms Mariella Cantagalli, First Secretary - Trade and Economic Section, Delegation of the ... More

`Barriers to Indo-US defence trade could be reduced'
THERE could be further reduction in the barriers to trade to take the US-India defence trade relationship to unprecedented levels, said the US Under Secretary of Commerce for Industry and Security, Mr David McCormick. Addressing the inaugural ... More


Package for curbing spread of AIDS, says Manmohan
IN line with its commitment made in the Common Minimum Programme, the Government will launch a comprehensive package for curbing the spread of HIV/AIDS in India. It will comprise preventive services, promotional measures and interventions for ... More


Centre to unveil pharma policy soon
The Government is planning to make maximum retail price on drugs to include all the taxes as in the case with other packaged goods. At present, MRP of drugs is exclusive of local taxes. More

Plan for regulatory body to ensure drugs quality
THE Union Government is seriously examining a proposal to set up a new Drug Regulatory Agency equipped with multi-dimensional skill sets, the Additional Secretary in the Union Ministry of Health and Family Welfare, Mr Deepak Gupta, announced ... More

Convert molecules to drugs, says Kalam
THE President, Mr A.P.J. Abdul Kalam, on Thursday urged Indian pharmaceutical companies not to stop with the discovery and marketing molecules, but start converting them into drugs. This was a big challenge that Indian companies should take ... More

AP Govt moves to promote more mini-pharma cities
HAVING initiated the promotion of the Pharma City at Visakhapatnam (spread over 2,500 acres), the Andhra Pradesh Government is now considering promoting mini-pharma cities around Hyderabad. The idea is to enable the existing pharma ... More

Agilent compliance tool for pharma cos
AGILENT Technologies Inc. is eyeing the Indian drug and pharmaceuticals sector with its compliance products and consulting services to meet stringent global demands. The company has launched a compliance portfolio to enable pharmaceutical and ... More


NTPC told to buy gas from spot market to tackle shortages
WITH gas shortages affecting power generation over the last six months, the Government has asked National Thermal Power Corporation (NTPC) to purchase gas for its power stations from the spot market. Outlining the measures by the Centre to ... More

Electricity Act changes cleared
THE Union Cabinet on Thursday gave its approval for the introduction of Electricity (Amendment) Bill, 2005. The amendments in the Electricity Act 2003 will include the provisions that the Centre will also share responsibility for rural ... More

CCEA approves PowerGrid transmission system
THE Cabinet Committee on Economic Affairs has approved the transmission system of PowerGrid Corporation of India Ltd (PGCIL) associated with NTPC's Barh (3x660 MW) generation project at a total estimated cost of Rs 3,779.46 crore. This includes ... More


ONGC may contest I-T Dept's additional claim of Rs 1,000 cr
THE Oil and Natural Gas Corporation (ONGC) has disputed the Tax Department's additional claim for the payment of about Rs 1,000 crore for 2003-04 and has sought a legal opinion to contest the claim, the ONGC Chairman and Managing Director, Mr ... More


Govt working on relaxing labour laws in textile sector: Vaghela
THE Government on Thursday said it is committed to introducing flexibility in the labour laws and is working on ways to exempt part of the textile sector from some of the existing rigid labour regulations. "The Government is aware of the ... More

Competition in textile trade gets tougher with dismantling of quotas
THE impact of the dismantling of the textile and apparel quotas has led to toughening of competition among developing and the least developed countries (LCDs) with the latter proposing a vulnerability index to identify products including textiles ... More


Urgent need to optimise availability of groundwater
`In the Deccan Plateau states of Andhra Pradesh, Karnataka and Maharashtra, groundwater levels have reached an alarmingly low level of 600 ft and above.' More


Zee to telecast Sri Lanka test matches
THE winds of change in cricketing affairs are already evident within two days of Mr Sharad Pawar and his team taking charge of the Board of Control for Cricket in India (BCCI). In a reversal of the earlier stand under Mr Jagmohan Dalmiya, the ... More


SEZ model can be replicated in higher education: Nasscom
THE National Association of Software and Service Companies (Nasscom) has advocated an initiative for replicating the SEZ (special economic zone) model in the higher education system. In an interactive session with media representatives, the ... More


TN Chamber seeks solatium for small traders
MADURAI: THE Tamil Nadu Chamber of Commerce and Industry has appealed to the Chief Minister that while estimating the flood damage, the loss sustained by small businessmen and manufacturers should also be taken into account and appropriate ... More


Labour shortage worries Tirupur knitwear exporters
FOR the booming Tirupur knitwear export industry, the mounting orders from importers this year may sound good augury. But the surge in orders has led to gaps in the manpower planning for a labour-intensive industry in Tirupur, which is heavily ... More


Kotra meet showcases wider collection of fabric samples
AMONG the 14 Korean textile machinery manufacturers represented in the first-ever face-to-face meet organised here on Thursday by the Korea Trade Centre (Kotra) were R C Korea Co manufacturing roll packing machinery and Seobu Machinery Co Ltd, ... More

Textile machinery imports from Korea on the rise
THE burgeoning capital goods imports by the textile industry to meet the growing business opportunity in the quota-free trade environment is reflected in the rise of imports of textile machinery from Korea in the last two years. But most of this ... More


2nd LCA prototype makes maiden flight
THE second prototype of Tejas, the indigenous light combat aircraft, made its maiden test flight on Thursday.The landmark flight started at 10.10 a.m. and lasted 26 minutes and met all the test objectives, Defence Research Development ... More


Dainik Jagran publisher files for IPO with SEBI
JAGRAN Prakashan Ltd, publisher Dainik Jagran, has filed draft red herring prospectus with the Securities and Exchange Board of India for a public issue of up to 1.14 crore shares of Rs 10 each. The issue consists of a fresh issue of ... More


`First draft of HK ministerial meet of WTO disappointing'
`India will continue to play a constructive role to ensure that the Hong Kong Conference is a meaningful staging-post for the successful completion of the Development Round.' More


Sourcing exhibition begins in Pune
THE three-day Source Enterprise 2005 exhibition, organised by the Confederation of Indian Industry (CII), Western Region, began in Pune on Thursday. This is the second manufacturing sourcing exhibition and buyer seller meet, the first one ... More

`Pride of India Expo' in Hyderabad
RELIANCE, Tata Group, Venkateswara Hatcheries, Syngenta, Mahyco are among the major corporates along with a host of seed and fertiliser companies that will participate in the special exhibition being organised at the upcoming 93rd Indian Science ... More

2-day business meet in Mumbai
THE K J Somaiya Institute of Management Studies & Research will be organising `Samavesh', a two-day business meet starting from December 2. The meet is organised to acquaint the students and faculty with current industry problems and practices . More


Alert us to breaches, Rlys tells public
WITH weathermen forecasting yet another cyclonic storm over the Bay of Bengal, the South Central Railway (SCR), perhaps for the first time, has started a media campaign, appealing to the public to tip the authorities off on chinks in the ... More

Kerala Horticultural Corporation distributes vegetable stocks
THIRUVANANTHAPURAM: The State Horticultural Corporation distributed 100 tonnes of vegetables through its outlets in the Capital on Thursday to bring down the prices that spiralled after supplies were badly hit by floods in Tamil Nadu. ... More

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Top Stories
ONGC appoints consultants for due diligence of SPIC Petro

Centre to unveil pharma policy soon

SpiceJet cuts fuel surcharge by 50%

`Consumer finance a major growth area'

Brand Ganguly caught in the gully!

Hefty flood claims, higher reinsurance rates — Private insurers set to hike tariffs

Metal producers hike prices for all products

In Focus

FDI in retail sector
Indian Aviation: Sky is the limit
India Inc's bonus bonanza
Sethusamudram Canal Project
India Inc's overseas acquisition

In Depth

Gender Justice
Simple Economics
Tax Talk

Looking back
Nov. 20-Nov. 26
Shipping cos yet to ride out `service tax' storm

Uniform retail drug prices across country by year-end: Paswan

Dismissal from service for taking bribe set aside

Now, most banks focus on SMEs

Sales tax sops: Ministry not keen to encourage industry demands

`World oil prices likely to settle at $64 up to 2010'

Processed foods: `Adherence to safety norms vital'

Crowding broadcast space to lower margins

`Cement cos margins under pressure'

Gold likely to increase on slowdown in US growth

Hewitt study forecasts fatter pay packets for Indian employees

CCEA nod for offloading of cross-holdings among oil majors

India, Turkey sign MoU for oil exploration

Shortage of off-the-road tyres may hit coal output

Rubber traders threaten to halt exports — VAT claims yet to be refunded

Fresh `low' promises another wet spell

Russia keen to participate in Iran-Pak-India pipeline project

IT sector's contribution to employment `not so good'

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