Financial Daily from THE HINDU group of publications
Thursday, December 15, 2005
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INDUSTRY & ECONOMY

CLIMATE & WEATHER


`Low' in southeast Bay set to intensify
Given the limitations in which an easterly wave operated, the Bay system is not expected to intensify beyond the status of a well-marked `low' More

NRIS


AP to showcase business avenues in each district
THE State Government has charted out a strategy to showcase district-wise investment opportunities in all the 23 districts during the Pravasi Bharatiya Diwas slated for January 2006. This is aimed at educating people about the development ... More

SOCIAL SECURITY


Labour Minister to take up EPF interest rate issue with PM again
THE Labour Minister, Mr K. Chandrasekhar Rao, will again take up the issue of "best returns" for provident fund deposits when he meets the Prime Minister, Dr Manmohan Singh, on Thursday. Last Wednesday, after a meeting of the Central Board of ... More

CHEMICALS


Kalam calls for 20% cut in energy consumption by chemical plants
DESCRIBING the four strategies for enhancing the energy efficiency of chemical plants, the President, Mr A.P.J. Abdul Kalam, has asked the industry to attempt a 20-per cent cut in energy consumption to bring down production costs and overcome ... More

ECONOMY


Manufacturing sectors post `impressive' growth
THE domestic manufacturing sector reported impressive growth for the April-September period of the current year compared to the corresponding period last year, says an ASCON-CII survey conducted recently. Of the total 140 manufacturers sectors ... More

Bengal annual Plan outlay fixed at Rs 8,024 crore
THE Annual Plan outlay of West Bengal for the next fiscal year 2006-07 has been fixed at Rs 8,024.36 crore, inclusive of additional Central Plan assistance of Rs 100 crore for priority schemes of the State, at a meeting between the Planning ... More

BRIC economies doing fine, have weaknesses too
THE country's economic growth rate is drawing the attention of global commentators. Its performance has been broadly hailed ever since a publication by Goldman Sachs Global Research Centres in 2001 that included Brazil, Russia, India and China ... More

ENGINEERING


EEPC to set up pavilion at Sharjah expo
THE Engineering Export Promotion Council (EEPC) of India will set up a dedicated pavilion at the second edition of SteelFab, to be held at Expo Centre Sharjah from January 22-24. "Engineering exports from India have been steadily growing and ... More

FOREIGN TRADE


Presentation on India, EU ties
KOCHI: Mr Stefano Gatto, Counsellor (Trade and Economic Affairs), Delegation of the European Commission to India, made a presentation here on "Trade and Economic Relations between India and the EU: Doing business with the EU" at the ... More

HEALTH


Yoga nidra for BPOs
THE recent report of IT and BPO work environment driving youth to seek counselling help, out of frustration, boredom and fatigue, and even contemplate suicide, is a disturbing reminder that there is a forgotten, but ... More

Four-day expo on diabetes in Hyderabad
PROMPTED by the poor awareness of diabetes in Hyderabad in spite of its high prevalence, Dr Mohan's Diabetes Specialities Centre is organising an `entrance-free' four-day exhibition titled `Diabetes 2005' at Sri Sathya Sai Nigamagamam here ... More

INFRASTRUCTURE


Govt plans to set up second industrial estate in Mangalore
CONSIDERING the demand for land by entrepreneurs, the Karnataka Government plans to set up a second industrial estate here. Mangalore has an industrial area at Baikampady near New Mangalore Port. Replying to the queries of entrepreneurs at ... More

World Bank clears $60-m credit for Himachal project
THE World Bank on Wednesday approved a credit of $60 million for the Himachal Pradesh Mid-Himalayan Watershed Development Project. The project is designed to assist the Government of Himachal Pradesh to reverse degradation of its natural ... More

PSU


15 Kerala PSUs register profits
AS many as 15 public sector undertakings under the Kerala Industries Department made profits till September 30 in the current year. The profit-making units and agencies include Kerala Minerals and Metals Ltd (KMML), Kerala State Industrial ... More

PETROLEUM


Aiyar hints at deregulating natural gas prices
`The era of cheap gas is behind us. Administered price mechanism is not possible for the gas sector.' More

ONGC bids for fuel facility at new Bangalore airport
ONGC is set to expand its wings into the aviation sector. The company has tied up with a French oil major to bid for the aviation fuel facility coming up at the new greenfield airport in Bangalore. Sources told Business Line that ONGC, ... More

Mundra SPM receives first crude consignment
THE newly commissioned single-point mooring (SPM) facility of the Adanis-promoted Mundra Port has received its first consignment of crude oil for Indian Oil Corporation. MT Omala, a very large crude carrier (VLCC) carrying 2,65,000 tonnes of ... More

PHARMACEUTICALS


Push for the pill
Over-the-counter marketing is at a nascent stage in India, which continues to be prescription-driven. Even as pharma companies grapple with strict legislation and preference for home remedies, there is need for greater brand promotion. More

POWER


NTPC, Reliance Energy investing in rural electrification projects
NTPC is encouraging the local community to get involved in the projects and is also carrying out their training and capacity-building. More

Govt plans `ultra-mega' power projects at coastal, pithead sites
THE Centre has started the process of identifying sites for the construction of new `ultra-mega' power projects of over 4,000 MW capacity each at coastal and pithead locations. The site selection for the projects, to be implemented by ... More

TAXATION


Lok Sabha passes taxation laws Bill
THE Lok Sabha on Wednesday passed a crucial taxation laws (second amendment) Bill that seeks to bring legal validity to the income-tax department's efforts to recover tax on a retrospective basis on certain income arising from sale of Duty ... More

Service tax collection up 70 pc in Apr-Nov period
THE Government's move to bring more services under the service tax net as well as increase the tax rate to 10.2 per cent in this year's Budget is now reaping rich dividends in terms of a surge in service tax collections. The Centre's service ... More

`Chhattisgarh will lose Rs 400-cr revenue by scrapping CST'
ZERO-RATING of central sales tax (CST) may be a desirable objective in a State-level value added tax (VAT) regime, but primary-resource rich States like Chhattisgarh are worried about the revenue loss from any such move. Chhattisgarh would ... More

Chidambaram to meet VAT panel on CST
THE Finance Minister, Mr P. Chidambaram, will meet members of the VAT Panel here on Friday in an attempt to resolve the crucial issue of compensating states for possible revenue losses arising from the phasing out/elimination of Central Sales Tax ... More

SSI


`Kerala must set up small enterprise commission'
THE Kerala Government, to get its holistic vision of development into action, should set up a small enterprise commission to re-energise the small and micro enterprise sector by developing appropriate mechanisms. Setting up of such a commission ... More

EDUCATION


exevo ties up with management schools
KNOWLEDGE Process Outsourcing (KPO) firm exvo has announced its partnership with several institutions, including the Fore School of Management for MCA, Department of Business Economics, Delhi University, to provide its employees with an ... More

REAL ESTATE & CONSTRUCTION


SC allows NTC mills, buyers to submit development plans
THE Supreme Court today permitted five NTC Mills and developers, who had purchased land belonging to these mills in Mumbai, to submit development plans to the authorities concerned for approval and for seeking environmental clearance. A Bench ... More

INDUSTRY ASSOCIATIONS


UPASI seeks special fund, ending of FBT as bailout package
THE United Planters' Association of Southern India (UPASI) has sought assistance from the Centre to bail out the ailing plantation sector from an unprecedented crisis. The apex body has, in a pre-Budget memorandum to the Union Finance ... More

GENDER


Women form only 6% of corporate workforce: Study
WOMEN constitute only six per cent of the total workforce, says a survey conducted by CII, which was released by Mrs Anu Aga, Director of Thermax Ltd, on Wednesday. The survey, which covers 149 companies, focused on medium and large companies. ... More

FOREIGN DIRECT INVESTMENT


FDI only in limited cos; doors closed for partnership firms
THE door for foreign equity in partnership firms is getting formally closed. Foreign direct investment will be allowed only in limited companies. The Government is against allowing FDI in partnership and proprietary companies. As a matter of ... More

WTO


WTO meet: Stalemate on farm, export subsidies continues
India, whose statements have come to symbolise the stand of the developing countries, struck to its position that any discussion on Non-Agricultural Market Access (industrial tariff) was not possible without firm commitments from the developed countr ies on the farm and export subsidies. More

IPR


`Kerala among first States to have IPR policy'
A POLICY to protect intellectual property is a necessity, said the Chief Minister, Mr Oommen Chandy, while inaugurating a two-day symposium on the draft Intellectual Property Rights (IPR) Policy for Kerala in the city on Wednesday. Mr Chandy ... More

RURAL DEVELOPMENT


Training in micro finance at Madurai
MADURAI: The need for going beyond financial perspective to make significant impact on poverty and development was stressed at an interactive session held on Wednesday by the participants of international training programmes on micro ... More

HUMAN RESOURCES


`Employees willing to take more stress in lieu of higher pay'
THE next time employees complain about stress at work, employers better read between the lines. In an online poll conducted by Monster India, an online career and recruitment site, it was found that 41 per cent of the respondents were willing to ... More

EVENTS


SHG products expo in Hyderabad
HYDERABAD: Mr D. Srinivas, Minister for Rural Development and Employment Generation, would inaugurate the regional Saras/DWCRA (Development of Women and Children in Rural Areas) on December 16. The expo would close on December 26. About ... More

ENTREPRENEURSHIP


Indian `Band of Angels' keen to fund start-ups
IT'S an Indian version of the `Band of Angels' and they are here to do exactly what their illustrious namesakes in the US have, with immense success, been doing in funding Silicon Valley start-ups. The Indian version of the `Band of Angels', ... More

INCOME TAX


I-T raids on hospitals, doctors in Chennai, Kumbakonam
THE Income-Tax Department has cracked down on some of the hospitals and doctors in Chennai and Kumbakonan, in an operation codenamed Operation Crush. Mr Santhosh Datta, Director-General, Income-Tax Investigation and Chief Commissioner of ... More

ITAT upholds assessee claim in export income case
IN a landmark verdict delivered recently, a bench of the Income-Tax Appellate Tribunal (ITAT), Kolkata has unambiguously settled the much-debated issue of taxing of income (by the Revenue Department) of export business under Section 80HHC in the ... More

EXPORTS & IMPORTS


India keeping off Malaysian crude palm oil?
INDIA has not bought a single tonne of crude palm oil from Malaysia so far this month. This is despite Malaysia's palm oil month-on-month exports rising 9.6 per cent during December 1-10 period to 3.12 lakh tonnes (lt). The development comes ... More

`Poor logistics costing seafood industry Rs 6,000 cr annually'
THE Indian seafood industry is annually losing Rs 6,000 crore in spoilage due to poor logistics support, according to Mr Elias Sait, Secretary General, Seafood Exporters' Association of India. "The industry is crying for proper logistics ... More

VENTURE CAPITAL


NRI Dinesh Dhamija to set up $200-m fund for Indian market
UK-based entrepreneur of Indian origin Mr Dinesh Dhamija, who earlier this year sold his company ebookers for close to $500 million, is now training his sights on the Indian market. Mr Dhamija's private equity firm India Gate Partners is in the ... More

TiEcon 2005 session focuses on investors' needs
EVEN though 2005 was not a year when too many buyout deals took place in the country, private equity deals ruled the roost, Mr Arun Natarajan of Venture Intelligence India said while presenting the overall investment scenario in the country at ... More

TOURISM


`Medical tourism to attract 1 m visitors by 2010'
THE Ministry of Tourism has taken several steps to promote the country as a major health destination to attract an additional one million medical tourists by 2010, the Minister of State for Tourism, Ms Renuka Chowdhury, said here, on ... More

ECONOMIC OFFENCES


SAT orders compensation for DSQ Soft shareholders
THE Securities Appellate Tribunal (SAT) has directed SEBI to identify and compensate the buyers of unlisted shares of DSQ Software, which were sold in the open market in 2000. DSQ Software had allotted more than one crore shares in 2000 which ... More



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Top Stories
Hiking capital: PSBs averse to floating perpetual bonds


Aiyar hints at deregulating natural gas prices

Manufacturing sectors post `impressive' growth

Indian `Band of Angels' keen to fund start-ups

Overheated gold in correction mode

Lok Sabha passes taxation laws Bill

India keeping off Malaysian crude palm oil?

SAT orders compensation for DSQ Soft shareholders

American Airlines bullish on Indian aviation market

In Focus

Trends in IT - 2005
FDI in retail sector
Indian Aviation: Sky is the limit
India Inc's bonus bonanza
India Inc's overseas acquisition
More

In Depth

Gender Justice
Simple Economics
Tax Talk
More

Looking back
Dec. 4-Dec. 10
Bill to amend CST Act to be introduced

For Railways, steel may indeed be worth its weight

`Growth story for paints is here'— Booming economy drives domestic market to the fore

Crop cover: Satellite images to assess claim payouts

Tax experts want wider scope for quoting PAN to check evasion

Panel for exempting contribution to superannuation funds from FBT

`Releasing ads thru DAVP not in PSUs' interest'

Cotton exports likely to top 20 lakh bales

EEPC facilitates $1-m export orders from SE Asian markets

e-encyclopaedia on traditional knowledge getting ready

China's appetite for commodities far from satiated

German textile machinery industry bets big on India

30 pc chilli output dip may hit oleoresin sector

Niche foreign retailers have big plans for India

Shrimp exporters turn innovative; revamp biz

India could become a hub for vaccine production: PM

China's auto sector set to enter critical phase

Centre tries hi-tech initiative to monitor power stations

Advanced degree H-1B visas likely to dry up soon

BMW looking to source components from India — Signs pact with TN for CKD plant

15 lakh t soyameal contracted for exports

Beer: No more a seasonal drink?

PM urges unions to respond to changing times


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