The Hindu Business Line : Friday, December 30, 2005

IT's hungry for more and more talent
CONTINUED hiring across technology disciplines, concerns about attrition levels in the IT Enabled Services resulting in higher costs and increasing real estate prices forcing companies to look to tier II and three cities have emerged as some key ... More

CONSUMER ELECTRONICS

Consumer durables sector ends year on a high note
IT'S been a good year for the consumer durables sector, which saw a good run on the bourses as well as a sizable jump in demand towards the latter half of the year. In fact, the sector outperformed most others on the stock exchanges this year. ... More

FOREIGN TRADE

Cabinet gives nod for SAFTA — `Major step for trade integration with neighbours'
THE Union Cabinet today gave its nod to the implementation of the South Asia Free Trade Area (SAFTA) to be launched on January 1, 2006, paving the way for the integration of entire South Asian markets of seven participating countries by way of ... More

HEALTH

Wockhardt Hospitals in pact with US insurer
THE Wockhardt Hospitals group in India has established a formal agreement with Philadelphia-based CIGNA Insurance to accept direct payments from the insurer for CIGNA International Expatriate Benefits (CIEB) health plans. CIGNA covers 32 ... More

INFRASTRUCTURE

SPV for Mangalore SEZ project by Jan 15
A SPECIAL purpose vehicle (SPV) for the implementation of Mangalore special economic zone (SEZ) project will be formed by January 15. The Karnataka Minister for Finance and Industries, Mr P.G.R. Sindhia, revealed this at a press conference ... More

PETROLEUM

Iran hopes to get official nod soon for LNG deal with India — Tapping European technology for liquefaction of gas
PUTTING to rest any doubt pertaining to Iran's commitment to the five-million-tonne-a-year liquefied natural gas (LNG) deal with India, the Iranian Deputy Minister for International Affairs in the Ministry of Petroleum, Mr M.H. Nejad Hosseinian, ... More

`LNG will power industrial growth in South' — Petronet to get Kochi plant ready by 2009
Demand for natural gas in Kerala, Western Tamil Nadu and parts of Karnataka (Mangalore region) had been estimated to be 10 million tonnes per year. While nearly 80 per cent of the demand would come from the industries, the balance would come from th e auto sector for Compressed Natural Gas (CNG). More

PHARMACEUTICALS

From April, MRP on drugs may include all taxes — Notification amending DPCO soon
The new norm would put an end to consumer inconvenience due to miscalculations, extra charges and other such problems. More

Finance Ministry to pen pharma fiscal sops story — `Positive proposals are beyond control of Chemicals and Fertilisers Dept'
The Health Ministry and the Revenue Department have estimated that free medicines for poor through health insurance or otherwise would incur an estimated expenditure of Rs 200 crore in the first two years of trial run in about 60 districts in the cou ntry. More

POWER

Norms for ensuring higher degree of stability — Regulatory commission issues revised electricity grid code
THE Central Electricity Regulatory Commission (CERC) today issued the revised Indian Electricity Grid Code. The new code, which will take effect from April 1, has provisions for ensuring greater accountability among stakeholders to ensure ... More

TAXATION

Taxation Laws Bill gets Cabinet approval
THE Union Cabinet on Thursday approved a proposal to amend certain clauses in the Taxation Laws (amendment) Bill 2005 to protect the interests of the donors in the event of the income-tax department withdrawing the approval of the donee ... More

TEXTILES

Textile traders defer bandh over VAT levy
THE Andhra Pradesh Federation of Textile Associations has deferred its decision to organise a textile trade bandh on January 6. "We have decided to postpone the proposed bandh, following an assurance from the Chief Minister, Dr Y. S. ... More

THE YEAR THAT WAS
Watershed for textile industry
THE year 2005 proved to be a watershed for the country's textile industry, with global trade in textiles opening up from January 1 and Indian exporters managing to score over competitors from most countries to make significant inroads in the US ... More

SSI

Andhra Bank, SBH join hands with APSFC to finance small units
ANDHRA Bank and State Bank of Hyderabad (SBH) have entered into an agreement with Andhra Pradesh State Financial Corporation (APSFC) to co-finance small and medium enterprises, service sector and infrastructure projects. While the APSFC would ... More

Union Bank to focus on mid-size cos
IN order to diversify its credit portfolio, Union Bank of India is planning to focus on the mid, or medium segment, separately from small and medium enterprises, said Mr Cherian Varghese, CMD. "This segment offers more growth potential and ... More

WATER

AP to prepare draft water policy
THE Chief Minister, Dr Y.S. Rajasekhara Reddy, has directed the Principal Secretary, Irrigation, Mr S.P. Tucker, to expedite the formulation of draft State Water Policy and submit it by January-end. According to a press release from the Chief ... More

TERRORISM

IISc terror attack — Security tightened throughout TN
Armed policemen checking vehicles entering the IIT campus in Chennai on Thursday.

REAL ESTATE & CONSTRUCTION

The fate of Mumbai's open space hangs in balance
INDIA'S biggest city moves into the New Year with availability of space for a decent urban life hanging in the balance. At the heart of the matter is the on going courtroom battle between Bombay Environmental Action Group (BEAG) and Maharashtra ... More

PAPER, BOARD & NEWSPRINT

THE YEAR THAT WAS
Rising input costs a major concern for paper industry
`The inflationary pressures on raw material, including oil and chemicals, have been the main reason behind rising prices.' More

INDUSTRY ASSOCIATIONS

`Improve aviation facility at Madurai'
THE Tamilnadu Chamber of Commerce and Industry has appealed to the Union Minister of State for Civil Aviation (Independent charge), Mr Praful Patel, to expedite the provision of aviation facilities at the Madurai airport. A delegation from the ... More

MINING & QUARRYING

Eco-damage: Construction boom sweeping the ground off riverbeds — Demand for river sand fuels indiscriminate mining
THE ever-increasing demand for river sand following the construction boom in Kerala in recent years has led to indiscriminate sand mining, resulting in the destruction of the riverine ecology system. In fact, there is no sand left in the rivers ... More

DISINVESTMENT

`Govt in talks with Left parties on disinvestment'
THE Finance Minister, Mr P. Chidambaram, on Thursday said the Government was in "talks" with the Left Parties on disinvestment in some non-navratna public sector undertakings (PSU). "We are discussing with the Left parties. These are ongoing ... More

FOREIGN DIRECT INVESTMENT

Karnataka promises all facilities to Volkswagen
THE Karnataka Government has promised all facilities to the German automobile manufacturer Volkswagen, if it plans to set up a plant in Karnataka. At a press conference here on Thursday, the Karnataka Minister for Finance and Industries, Mr ... More

INCOME TAX

Raise basic tax exemption limit to Rs 1.5 lakh: PHDCCI
THE PHD Chamber of Commerce and Industry has urged the Government to restructure the income-tax slabs and increase the basic exemption limit for income-tax to Rs 1.5 lakh. In its pre-budget memorandum submitted to the Finance Ministry, the ... More

EXPORTS & IMPORTS

Delay in exchange rate revision irks importers
IMPORTERS are upset that the Government notification announcing revised exchange rate for the following month has not been issued despite the current month nearing an end. Normally, the Government notifies the exchange rate for the following ... More

NATURAL CALAMITIES

Erosion control
The construction of groynes along the seashore in North Chennai is in the final stages. These groynes jutting about 250 metres into the sea help control erosion caused by tides. Earlier, the erosion affected access by road to the industrial belt ... More

ALTERNATIVE MEDICINES

Canadian tests reveal high levels of heavy metals in ayurvedic drugs
THE export of ayurvedic medicines from India has suffered a setback following the testing by the Canadian Government that has revealed high levels of heavy metals in the exported traditional drug preparations. More than 18 different ayurvedic ... More

TOURISM

Orissa tourism fest from Jan 6-15
BHUBANESWAR: In a bid to give tourism sector a boost in the State, the Orissa Government's Department of Tourism is all set to organise the first Ekamra Utsav in Bhubaneswar from January 6 to 15. Several departments of the State ... More

Tourism co-operative inaugurated
MANGALORE: A branch of the Bharathi Tourism Development Cooperative (BTDC) was inaugurated in Mangalore on Thursday. BTDC is a multi-state cooperative having operations in Goa, Karnataka and Kerala. Mr K. Ramachandra Bhat, Director of the ... More

ECONOMIC OFFENCES

ATM throws up forged note — AITUC puts up note to PM for inquiry
There are serious lacunae in the distribution system and sometimes "even less than the recorded amount" is delivered to the bank with regard to high denomination notes. More

PEOPLE

ISACA office-bearers
THE Cochin Chapter of the Information Systems Audit and Control Association (ISACA) has elected again unanimously Chartered Accountants, Mr K.P. Paulson as President and Mr Babu Abraham Kallivayalil as Secretary for the next year. ... More

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