Financial Daily from THE HINDU group of publications
Wednesday, January 25, 2006
Markets (January 24)
BSE Sensex9549.92 (+85.02)
S&P CNX Nifty2908.00 (+23.95)
US Dollar (Buy/Sell)44.21/44.35



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Monsoon pattern points to `La Nina' in the making
THE cyclonic circulations over the Bay of Bengal during the just-concluded northeast monsoon could well have provided the best available indicator from this side of the equatorial Pacific of a La Nina brewing close. The US-based International ... More


Air Arabia, Kingfisher tie up for Mangalore to Gulf flights
AIR Arabia LLC, the first international low-fares airline in India, has tied up with Kingfisher Air to offer customers in Mangalore direct flights to the United Arab Emirates. A press statement from Air Arabia said with a single reservation, ... More


`New pension system to have sizeable subscriber base'
THE PENSION Fund Regulatory and Development Authority (PFRDA) has pegged the number of people interested in joining the new pension system in the near term at 20-30 million. With an almost equal number keen to sign up in the next couple of ... More


UN pat for India's `economic performance' — Manufacturing, infrastructure development in forefront
THE United Nations has extolled India's "strong economic performance" in 2005, driven largely by the manufacturing sector, booming domestic demand for consumer goods as well as infrastructure development. In its flagship publication, World ... More


IL&FS seeks to join Mangalore export zone SPV
THE formation of Mangalore Special Economic Zone (SEZ) is gathering momentum with Infrastructure Leasing and Financial Services (IL&FS) Ltd — an investment banking institution engaged in the development of projects in infrastructure sector More

Industrial infrastructure will be improved: AP CM
AIMED at taking advantage of the emerging opportunities in the areas of business process outsourcing, the Andhra Pradesh Government proposes to further strengthen the infrastructure facilities in the State for attracting trade and industry, the ... More


Replacing AED on cigarettes with VAT can hit many States — Fall in revenue seen in 44-88 per cent range; consumers may pay more for a puff
INDIRECT tax experts and taxation managers in industry have cautioned that many States would actually lose substantially if additional excise duty (AED) on cigarettes is replaced by VAT. It is further pointed out that scrapping of AED on ... More

CII for phased removal of CST
THE Confederation of Indian Industry (CII) has called for phased removal of Central Sales Tax (CST) to pave the way for a real uniform regime of Value Added Tax (VAT) across the country. In its pre-Budget memorandum to the Andhra Pradesh ... More


Tiruchengodu, Namakkal emerging textiles hub
The volume of export of specialised fabrics from Tiruchengodu would be in the order of around 50 containers per month. More


Water levels decline in Kerala reservoirs
THIRUVANANTHAPURAM: Water levels at three major reservoirs in the State - Idukki, Idamalayar and Kallada - have recorded a slight decline when compared to the levels recorded during the preceding week. According to figures ... More


`Modern management concepts found in Tamil literature'
THOUGH languages may be different, concepts in management are universal and references to successful management abound in Tamil literature too, even from classical times, said the Managing Director of Visvas Promoters Pvt. Ltd, Mr S. Seetharaman, ... More


ICICIOneSource programme to make youth employable
THIS is a business school with a difference. All the 90 young people graduating from the Livelihood Advancement Business School (LABS) on Sunday in Bangalore walked away with a certificate and a job on hand. In a unique CSR initiative, ICICI ... More

IBM India, BITES launch project for academic excellence in Karnataka
IBM India and BITES have launched a project INVITE (Initiative to Nurture a Vibrant IT Ecosystem), to improve academic excellence in Karnataka. The Department of Information Technology, Biotechnology and Science & Technology and the Board for . More


Manipal group earmarks Rs 150 cr for more buys
On a parallel track, in the next two years the group's existing 600-bed Rs 150-crore Manipal Hospital in Bangalore would create a new campus on property owned towards the emerging Hebbal-Devanahalli area. More


Energy prices, global oil demand fuel upturn in Saudi construction activity
HIGH energy prices and strong global oil demand are fuelling a significant upturn in construction activity in Saudi Arabia, with almost $160-billion-worth of large-scale projects planned in the kingdom according to MEED projects, the online ... More


India Inc welcomes apex bank's move
The apex bank's announcement on Tuesday to hike the repo rate to 6.5 per cent and the reverse repo rate to 5.5 per cent and leaving the Bank Rate and the Cash Reserve Ratio (CRR) unchanged is in line with expectation, according to the Federation ... More


`Aircraft supplier for AWACS to be finalised in 3-4 months'
THE aircraft supplier for the indigenous Airborne Warning and Control System project (AWACS) will be finalised in the next 3-4 months, the Scientific Advisor to the Defence Minister, Dr M. Natarajan, said here on Tuesday. Top aircraft ... More


`Ease regulatory burden to attract higher FDI'
INDIA should ease the regulatory burden and improve the conditions for doing business in order to attract higher foreign direct investment, a top Swiss Government official said. Addressing an interactive meeting on "India and Switzerland - A ... More

King Koil gets FIPB nod to start India operations
US-based mattress manufacturer King Koil has received approval from the Foreign Investment Promotions Board (FIPB) to launch its Indian operations, according to a company release. The company specialises in sleep solution products and has ... More


Give private credit institutions a chance
I EXPECTED sharp reactions to my article "Moneylender surfaces again" (Business Line, January 11). I expected objections from a handful of co-operative barons because it was the Co-operative Credit Network ... More

Nabard sanctions funds for TN projects
THE National Bank for Agriculture and Rural Development has sanctioned Tamil Nadu projects with an outlay of Rs 239.34 crore and assistance under the Rural Infrastructure Development Fund (RIDF-XI) of Rs 191.84 crore. According to a press ... More


PM for inter-ministerial meets to help solve exporters' woes
THE Prime Minister, Dr Manmohan Singh, today said he favoured structured periodic meetings at intervals of six months or more often between the Finance and Commerce and Industry Ministers so that exporters have a forum to present their ... More


Pvt equity, venture capital cos raise $950 m via IPOs: Study
SEVENTEEN private equity and venture capital-backed companies raised about $950 million via initial public offerings during 2005, according to a Venture Intelligence India study. Private equity (PE) and venture capital (VC) companies obtained ... More


Banks' role in IPO scam — Risk control systems under RBI scanner
THE Reserve Bank of India said it would assess whether banks were meeting the Know Your Customer norms and other guidelines related to opening of accounts, in the light of the recent IPO scam. RBI would also examine the risk and control ... More

Raj Basantani group to face prosecution for fraud
The main business of Basantani on paper was export of diamond and local trading of diamond. It was found that peons, drivers and clerks were the directors of the company. More

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Top Stories
Guntur farmers keen to continue growing cotton

Pvt equity, venture capital cos raise $950 m via IPOs: Study

UN pat for India's `economic performance' — Manufacturing, infrastructure development in forefront

HCL Info Q2 net up 6%

ACC Q4 net triples on higher sales

ONGC may get higher prices for C2/C3-rich gas supplies to IPCL

In Focus

Auto Expo 2006
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. 15-Jan. 21
IMD funds from Gulf may move into mutual funds

Base import prices cut for crude palm, soyabean oils

Tax advantage for recent buyers of Reliance shares — Stiff tax liability for short-term sale of RIL stock

`Ultra-mega' power plants — Generation cost to be under Rs 2 per unit

Rising domestic prices curb cotton exports

`Create knowledge partnership directory'

Nagarjuna Power rejects Jindal's offer to buy out Udupi project

Health Ministry to push for ban on smoking scenes

AIR to air running commentary of Indo-Pak series

`India will become third largest plastic consumer by 2010'

Some M&A gyan for Indian cos

India cannot go back on reforms: Goh


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