Financial Daily from THE HINDU group of publications
Tuesday, January 10, 2006
Markets (Feb 02)
BSE Sensex9843.87 (-15.39)
S&P CNX Nifty2967.45 (-4.10)
US Dollar (Buy/Sell)44.22/44.35



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Respite from cold likely for now, fog tipped to return
Frost prevailing over parts of Punjab, Haryana, Rajasthan and Uttar Pradesh is tipped to continue through the next 24 hours and dissipate with fog settling in. More


Remit2India launches NRI services
REMIT2INDIA, part of of the Times Group, has unveiled NRI services here on Monday, coinciding with the concluding ceremony of Pravasi Bharatiya Divas-2006. The Deputy Secretary in Union Ministry of Overseas Indian Affairs, Mr ... More

LVB hikes rates on term, FCNR, NRE deposits
LAKSHMI Vilas Bank has hiked the rate on domestic term deposit, FCNR (B) term deposit and NRE tern deposit from January 2. The domestic term deposit rate has been hiked from 7 per cent to 7.25 per cent for tenure of one to 3 years and from 6.50 ... More

Gulf NRI body welcomes new initiatives
THE UAE-based Pravasi Bandhu Welfare Trust has welcomed the initiatives announced by the Prime Minister, Dr Manmohan Singh, at the Pravasi Bharatiya Divas and called for their quick implementation.In a statement, the Trust's Chairman, Mr K.V. ... More

Kalam urges NRIs to aid rural development
THE President, Mr A.P.J. Abdul Kalam, has urged non-resident Indians (NRIs) to participate in India's rural transformation through joint initiatives. With 70 per cent of the people living in rural areas, the contribution of NRIs in bringing ... More


Ahmednagar NGO set to launch biodiesel project
GOVIND Gramin Prathisthan, an Ahmednagar-based NGO, is set to launch a pilot project to produce biodiesel from jatropha. The trial run is slated to begin in May. Speaking to newspersons, Mr Govind Gulabrao Kale, the founder, said that till date ... More


`Higher growth, expenditure, proper utilisation key for coherent economy'
DR C. RANGARAJAN, Chairman of Economic Advisory Council to the Prime Minister, has called for a three-pronged approach comprising higher economic growth, a higher proportion of expenditure, particularly public expenditure on social sectors, and ... More

Reduction in food subsidy to raise State Govt burden
IN view of the cut in food subsidy imposed by the Centre the burden on the subsidy portion of Andhra Pradesh Government would be around Rs 500-Rs 600 crore per annum, according to officials of the Civil Supplies Department. The State Chief ... More


Carbon credit: Rs 15,000-crore investments likely
THE unfolding opportunity of carbon credits has caught the imagination of Indian entrepreneurs. The number of Indian projects, in the fields of biomass, cogeneration, hydropower and wind power, eligible for getting carbon credits, now stands at ... More


Mickey, Donald bring cheer to children in hospitals
IT was a dream come true for children battling for life at Mumbai's Tata Memorial Hospital when they got to meet Mickey Mouse, Minnie and Donald Duck. The Walt Disney entourage, which is currently touring India, fulfilled the wishes of these ... More


Reliance demands compensation for selling petro products below cost price
Asked why Reliance was selling fuel below cost when it was not bound by any Government diktat unlike the PSU oil companies, Mr Narang said the company could not sell petrol and diesel at a price higher than its competitors. More


High-level meeting to avert chemists' strike
CLOSE to about 50,000 chemists in Maharashtra are expected to go on a two-day strike this week, in protest against a guideline introduced last month by the State's Food and Drug Administration (FDA). In fact, a meeting on the issue has been ... More


Copters to clean power lines in Northern Grid — But consumers may have to shell out more
THE Northern Grid operators led by Power Grid Corporation of India Ltd (PGCIL) are planning to go hi-tech by deploying helicopters to clean power lines and insulators to prevent possible tripping of lines due to a combination of heavy fog and ... More


TN Chamber welcomes tax cut
MADURAI: The Tamil Nadu Chamber of Commerce and Industry has welcomed the scrapping of the dual system of taxation on cement and also the surcharge, additional sales tax and resale tax from January 2. In a statement here, the chamber has ... More


Cricket telecast: SC asks Prasar Bharati to file response
THE Supreme Court has asked Prasar Bharati to file a response on whether it was willing to share the feed provided by Ten Sports for the forthcoming India-Pakistan series without any changes. A Bench headed by Mr Ashok Bhan posted the matter ... More


`Big' small cars to miss fair action
At least two companies are adopting a different strategy even as the Auto Expo is set to open later this week. More


SSI promoters buy out partners' stake in Buckingham Real Estate
THE Kalpathi family, promoters of the Chennai-based SSI Ltd, has acquired 50 per cent holding of the Reddy family in the 70-acre Binny property for about Rs 100 crore. They have also revoked the joint development agreement of the property with ... More


Newsprint market likely to stay bullish this year
THE domestic newsprint market is likely to stay bullish throughout 2006 in anticipation of strong buying support from the newsprint consuming sectors. Considering that there will be a 10 per cent growth in demand, the country may face a further ... More


India Inc makes a pitch for fiscal, R&D sops — Lower direct tax burden; scrap or simplify FBT
"Our submission was that FBT should be abolished. If that is not possible, it should at least be simplified and genuine business expenses must be allowed as deduction," said Mr N. Srinivasan, Vice-President, FICCI. More


Doing business with US `much easier' for ISRO now
THE recent thaw in US attitude towards its partial entity Indian Space Research Organisation (ISRO) may be having its commercial spin-offs. The gradual removal of ISRO centres on the US blacklist in recent years has made business with US ... More


Disturbed conditions due to police firing — Iron ore traffic to Paradip hit
On an average, 2,000 trucks carrying a total of an estimated 20,000 tonnes of ore move into the port every day. More


The man behind the make-believe
IT is a world of make-believe. Sometimes it is the Madurai Meenakshi Temple, at others a street in Mylapore or a railway station. It is all put together inside studios or outside on locations, with plywood, jute cloth and casuarina poles to ... More


`VAT is okay; what is not okay is unstable policy guidelines'
EVEN as foreign investors find India an attractive destination for investment, they rate instability in policy guidelines and ground level obstacles as detriments, according to industry chamber FICCI. According to a recent assessment by the ... More


Indian tariffs high, says US official
INDIAN customs duties are high and the peak rate of 32 per cent is the highest in Asia, Dr Abdul Quader Shaikh, Regional Coordinator for Africa, Middle East and South Asia, International Trade Administration, US Department of Commerce, said here ... More


Take technology to villages: Kalam
Rural India can be transformed by taking technology to the villages and the basic objective should be to trigger growth by creating urban amenities in villages, the President, Mr A.P.J Abdul Kalam, has said. He was speaking at the `Vikasa ... More


Tripartite textile panel likely to thrash out labour reforms issue — Trade unions keen to participate in talks
The textile industry is willing to ensure that any temporary workforce that is employed by the sector would be kept on the rolls at least for 150 days a year. More


Alleged harassment of women mill workers — Textile unions plan State-wide protest
REPORTS of harassment and exploitation of women mill workers that have surfaced recently in the region have kicked up dust with textile mill workers unions planning demonstrations against the incident and one of the prominent textile industry ... More


Suguna group to export 'portion' chicken to Japan
POULTRY major Suguna group is set to export value-added processed chicken to Japan in a month. Suguna will export the chicken to three Japanese firms which have evinced interest to import "portion" chicken. "We'll start commercial production ... More


Chhattisgarh to announce tax waiver to promote tourism
THE Chhattisgarh Government would shortly announce its new tourism policy, giving huge incentives to investors that will include complete waiver of stamp duty on purchase of land and sales tax, besides waiver of State levies, said Mr Brij Mohan ... More

Karnataka submits Rs 611-cr tourism proposal to Centre
THE Karnataka Government, which has planned various tourism development activities, has submitted a Rs 611-crore proposal to the Centre. Addressing newspersons at Udupi on Monday, the Karnataka Tourism Minister, Mr D.T. Jayakumar, said that ... More

Foreign tourist arrivals increase 13 pc
THERE has been a growth of more than 13 per cent in foreign tourist arrivals at 3,915,324 during 2005, up from 3,457,477 foreign tourists who visited India during the previous year. An official statement issued here on Monday says there was a ... More

As the sun goes down
Tourists viewing the sunset from a house boat in the backwaters of Kochi. Eco-tourism has emerged as an important component of the Kerala experience. The State earns foreign exchange worth around Rs 1,300 crore from tourism, while the total ... More

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Top Stories
Carbon credit: Rs 15,000-crore investments likely

`Big' small cars to miss fair action

Industry to have a say in `large taxpayer units' scheme implementation

Demand-supply factors may prop up metals

Copters to clean power lines in Northern Grid — But consumers may have to shell out more

Suguna group to export 'portion' chicken to Japan

Reliance demands compensation for selling petro products below cost price

SAIL charting new mining proposal — Dry beneficiation plant at Chhattisgarh

In Focus

Infrastructure woes stare IT sector
IPO Scams
FDI in retail sector
Dynamic Tirupur
Surging Sensex
Gold scaling new highs

In Depth

Gender Justice
Simple Economics
Tax Talk

Looking back
Jan. 1-Jan. 7
Rally in commodity prices may continue in Q1

Hospitality sector gets a boost from buoyant economy

Paper manufacturers upbeat as demand may remain robust

Subsidy burden: Oil cos to cough up Rs 3,274 cr for Q3 — Ministry continues with previous quarter's formula

LNG shipping: Have Indian owners missed the wind?

A `disastrous' year for insurers

Lack of skilled labour major concern for retail sector

Business confidence up on sound economy, says CII outlook survey

Ban on Chinese textiles boosts Indian export growth

Construction industry takes bigger strides

Tariff values on vegetable oils reduced — Industry terms it as `small revision'; steepest cut for RBD palmolein

Four-wheeler sales growth slows in 2005

`Mega insurance policies is the trend in energy sector'

Only 1,364 advance degree H1-B visas left out of 20,000

Strict eligibility norms may force media houses to play low key in bidding for FM

Cement majors post robust sales in Dec — Stocks move up on firm prices

Alang yard awaits Clemenceau's arrival

For safe ayurvedic drugs, laws need to be strengthened

Children lead the way at science congress

India has refining capacity of additional 30 mt: Shell Global

Invest Rs 500 crore in hi-tech clusters: Kalam

Spices Board to conduct W. Asia market study

Steel prices likely to remain firm this year

Central assistance scheme for scientists to be liberalised

Textile exporters face non-tariff barriers in US

Pvt sector willing to invest in infrastructure projects: FICCI President

Inflation lower on cheaper fruits, vegetables


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