Financial Daily from THE HINDU group of publications
Wednesday, February 22, 2006
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INDUSTRY & ECONOMY

AUTOMOBILES


Bangalore to be Volvo's hub for Asia
VOLVO has chosen Bangalore as its hub for truck product development and for sourcing of components for Asia. Volvo's product development unit, 3P, will focus on building India as a base for truck development aimed at supporting strategic ... More

FERTILISERS


Govt yet to decide on DAP subsidy
The Government is importing DAP in large quantities through State channels and is effectively paying a higher subsidy for imported DAP compared to domestically produced DAP since the last quarter. More

FOREIGN TRADE


India, US likely to ink R&D, agri pacts during Bush visit
DURING the maiden visit of the US President, Mr George Bush, India and the US are expected to see greater collaborations being forged in the fields of agriculture and knowledge economy. According to sources, India is also likely to accede at ... More

HEALTH


`Company hasn't supplied any infected chicks'
MR O. P. Singh, Chief Executive Officer of Venkateshwara Hatcheries, has categorically stated that the company, per se, has not received any show-cause notices from the District Magistrate of Nandurbar. Mr Singh told presspersons on Tuesday ... More

Maharashtra issues notice to Venkateshwara Hatcheries — Sourcing bird flu-affected chickens
VENKATESHWARA Hatcheries Ltd has been served a show-cause notice by the District Collector of Nandurbar, seeking an explanation why action should not be taken against the company for allegedly sourcing bird flu-affected chickens from two ... More

Pawar calls for restraint in bird flu reports — Don't create panic, media told
REQUESTING the media not to create panic by "covering the bird flu (outbreak) issue disproportionately", the Union Minister for Agriculture, Mr Sharad Pawar, today said the Department of Animal Husbandry is likely to complete its responsibility ... More

Task force set up to tackle bird flu in AP
THE Andhra Pradesh Government has set up a Task Force to deal with the bird flu problem, even as chicken and egg sales continue to dip in the State. The Task Force, which would be headed by Mr Priyadarshi Dash, Principal Secretary (Animal ... More

HOTELS


Shrishti, InterContinental to set up 5-star hotel in Kolkata
SHRISHTI Infrastructure Development Corporation Ltd (SIDCL), jointly with HUDCO, has tied up with the InterContinental Hotels Group Plc to set up a Rs 400-crore five-star hotel at New Town, Kolkata. The foundation stone laying ceremony has ... More

Portal to search serviced apartments
BNA Technology Consulting Co Ltd, a Bangalore-based application services provider has launched a portal to cater to the needs of the growing hospitality industry. The portal www. serviceapartmentbooking. com will help travellers to access ... More

PSU


Air India places $2-b order for GE engines
AIR India has signed an agreement with GE Aviation for the purchase of GE engines valued at more than $2.2 billion at list price to power its new Boeing 777 and 787 fleets. The agreement was signed today at the Asian Aerospace show in ... More

Indian Airlines firming up plans for Alliance Air
THE future of Alliance Air, the 100 per cent subsidiary of Indian Airlines, will be firmed up soon. The newly appointed Chairman and Managing Director of Indian Airlines, Dr Vishwapati Trivedi, told Business Line that the airline was ... More

NMDC exploring gold mining in Tanzania
NATIONAL Mineral Development Corporation Ltd (NMDC) is ready to dig in prospective mines for gold in the Republic of Tanzania. The Hyderabad-based public sector company plans to invest Rs 6.5 crore in exploration and preparation of a detailed ... More

PETROLEUM


GAIL issues notice to IPCL on gas supply pact
GAIL (India) Ltd today said that it has served a notice to IPCL stating that supplies to the company would be disconnected if the latter does not sign a revised gas supply agreement. GAIL supplies 1.03 million standard cubic metre per day ... More

POWER


Pvt players keen on ultra mega power projects
The Government's plan to set up five `ultra mega' thermal power projects of 4,000 MW each has generated considerable interest among private players. A host of top companies, including Tata Energy, Aditya Birla Group, RPG Group, Reliance ... More

TAXATION


Bankers seek lower service tax on credit cards
IF bankers' Budget wishes are fulfilled, their credit card customers may no longer scream at their bills. If not a waiver, at least a reduction in service tax is what a clutch of banks is seeking from the Finance Minister. The service tax levy ... More

Lahiri panel proposes uniform duty for refined oil products
It recommended that the logic of harmonisation and of not having an inverted duty structure argues strongly in favour of increasing the duty rate on vanaspati to 72.5 per cent from the current 30 per cent. More

SSI


SMERA bags 200 applications for ratings
SMERA (SME Rating Agency of India Ltd) has so far clocked 200 applications for ratings, a good portion of which are referrals from banks. SMERA, which seeks to provide an independent assessment of a small and medium enterprise (SME), now ... More

COAL


Ministry asks Coal India to pay Rs 800-cr dividend
THE Finance Ministry has asked Coal India Ltd (CIL) to pay Rs 800 crore as dividend for fiscal 2005-06 before the end of the current financial year. Of this the Ministry has asked for Rs 600 crore as special dividend and another Rs 200 crore as ... More

RADIO/TV


4 new FM stations planned in AP
HYDERABAD: Andhra Pradesh will have four FM radio stations at Kakinada, Karimnagar, Srikakulam and Nellore by the end of the 10th Plan period. Also a radio station and studio are technically ready at Macherla, but awaiting staff ... More

EDUCATION


IBM, Visvesvaraya varsity tie up
BANGALORE: IBM India and Visvesvaraya Technological University (VTU) have signed a memorandum of association that will enable IBM employees pursue M.Tech programme in computer science in Karnataka. Mr Harish Grama, Vice-President, IBM ... More

`Deserve and deliver before you desire more'
GANESH Chella, CEO of Totus Consulting, drew up a powerful reality check for the students of SRM School of Management near here. For competent MBA graduates, the world is their oyster. Employers will queue up and there is good money to be made. ... More

ICFAI PG diploma courses
VISAKHAPATNAM: The ICFAI National College has started the admission process for its PG programme in management leading to a PG diploma in business administration at 17 of its centres in Andhra Pradesh, including Visakhapatnam, according to ... More

MEDICAL & SURGICAL EQUIPMENTS


Chinese cos eye Indian medical products market
AFTER flooding India with toys, plastic products, and many other sundry goods, Chinese companies are now looking at a high-end, specialised segment - medical and health products. One of the major reasons for them to enter the huge Indian ... More

MEDICAL INSTITUTIONS & HOSPITALS


Multi-speciality hospital for women opened near Kochi
SUNRISE Hospital, a multi-speciality hospital for women, has started functioning at suburban Kakkanad. The hospital aims to provide tertiary care in obstetrics, gynaecology, paediatrics and trauma. This is one of the few hospitals in the ... More

BIO-TECH & GENETICS


Seminar on DNA tech
HYDERABAD: The Centre for Cellular and Molecular Biology (CCMB) and the Association for Promotion of DNA Fingerprinting and other DNA Technologies (ADNAT) are jointly organising a two-day symposium on RNAi and microRNA in Development of ... More

SCIENCE & TECHNOLOGY


ISRO Director to head UN space panel
DR B.N. Suresh, Director of the Indian Space Research Organisation's launch vehicle activity hub, the Vikram Sarabhai Space Centre, has been elected by consensus to head a sub-committee of the UN body on space. A joint Asian nominee, Dr ... More

FOREIGN DIRECT INVESTMENT


Sectoral issues need to be addressed for FDI inflow, says American Chamber
Due to the barriers to FDI, India is able to attract only $5 billion from the US, whereas China gets about $60 billion. More

HUMAN RESOURCES


Retail talent crisis: Head-hunters combing all sectors
THE Indian employment market has never witnessed such intense combing operations before. The retail industry is giving out impossible mandates, while head-hunters are in a scramble, scouting every possible related sector to source talent: At ... More

CORPORATE GOVERNANCE


SEBI fiat to exchanges on compliance by cos
THE Securities and Exchange Board of India has informed the Government that the stock exchanges are required to give their consolidated compliance reports on the revised clause 49 of the listing agreement by May 31 this year. The Union Company ... More

TRADE & LABOUR UNIONS


Jute mill workers go on strike
VISAKHAPATNAM: Workers of three jute mills in Vizianagaram district under the Kolkata-based Hooghly Jute Mills - Aruna, East Coast and Bobbili - have decided to go on strike from Wednesday, as wage negotiations have failed. There ... More

EVENTS


Kalam wants more Indian cos in Fortune 500
THE President, Mr A.P.J. Abdul Kalam, on Tuesday urged more Indian companies to make it to the Fortune 500 list by becoming brand institutions. He said that righteousness and indomitable spirit are the key qualities that make a corporate ... More

Project management meet at Hyderabad
HYDERABAD: Iha Consulting Services, Hyderabad, in collaboration with Jawaharlal Nehru Technological University (JNTU), is organising a one-day workshop on Best Practises in Project Management on February 25. The Governor of Chhattisgarh, ... More

ENTREPRENEURSHIP


Coir Board to launch entrepreneur development programme in Amalapuram
THE Coir Board, in association with the Jawaharlal Nehru Technological University, Hyderabad, is organising a three-day entrepreneur development programme at S.K.B.R College in Amalapuram in East Godavari from Wednesday, said Mr T.P Padmanabhan, ... More

EXPORTS & IMPORTS


Hectic lobbying on by vegoil refiners against cheap imports
Reports that the Ministry of Finance is engaged in a serious exercise to re-impose excise duty on manufacture of refined oils are doing the rounds. More

Traditional items drive export growth in April-Nov
THREE traditional products such as ores and minerals, gems and jewellery and engineering goods and unconventional item such as petroleum products which together constitute more than half of the country's overall exports acquitted themselves ... More

TOURISM


'Malaysia to make visa issuance for India easier'
NEW DELHI: Malaysia is looking at ways to make issuance of visa to Indians more attractive and convenient, the Deputy Director General, Tourism Malaysia, Mr Mirza Mohammad Taiyab, has said. "We are trying to see whether the visa can be ... More

Kerala Tourism unveils norms for tourists, operators
AS part of its efforts to promote responsible tourism, Kerala Tourism has unveiled a set of guidelines for travellers and tour operators in the State. The guidelines are part of a multi-pronged strategy to move the tourism industry in Kerala ... More

PEOPLE


AIR chief is VP of CBA
NEW DELHI: The Director General of All India Radio, Mr Brijeshwar Singh, has been appointed the Vice-President of the Commonwealth Broadcasting Association (CBA). Mr Abu Bakar Jijiwa, Director General, Voice of Nigeria, has been elected ... More



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Top Stories
Outlook positive for major commodities


Exclusive marketing rights for Novartis' cancer drug cancelled

Pawar calls for restraint in bird flu reports — Don't create panic, media told

Govt yet to decide on DAP subsidy

Bankers seek lower service tax on credit cards

Hectic lobbying on by vegoil refiners against cheap imports

Air India places $2-b order for GE engines

In Focus

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

Gender Justice
Simple Economics
Tax Talk
More

Looking back
Feb. 12-Feb. 18
Weather insurance slow to gain acceptance in India

Women score high in micro finance

Trade margins on generic drugs to be capped at 50 pc — No levies on medicines for cancer and HIV/AIDS

IIMs may opt for uniform fee for PGP courses — Hike in fees on cards

Pak out-prices India in white rice exports — But par-boiled still holds promise

Iron ore exports: Raking up problems

Soyabean oil imports turn cheaper than crude palm oil

`Strengthening quarantine dept, pest risk analysis can check fruits imports'

Passenger car sales up 8.3 pc in Jan

Finance Minister likely to announce measures to improve tax clinics

Weather concerns worry shrimp exporters — Arrivals likely to be delayed by a month

Survey throws light on poor state of school education

$14-17/t hike in tariff values for veg oils

Digital imaging catches on in Indian film industry

`Service tax inflow may touch Rs 23,000 crore'

Cabinet gives nod for voting rights for NRIs

SEBI debars Warner Multimedia, 12 entities

CSO puts software sector's contribution to GDP at 2.7 pc

Car prices may not come down after Budget

Rs 50,000 crore investments likely from Gulf countries

Jute industry concerned over rising imports



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