Financial Daily from THE HINDU group of publications
Saturday, March 04, 2006
Markets (March 3)
BSE Sensex10595.43(-31.35)
S&P CNX Nifty3147.35(-3.35)
US Dollar (Buy/Sell)44.38


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INDUSTRY & ECONOMY

NON-CONVENTIONAL ENERGY


`Bankers must educate SHGs on solar energy'
It is essential for bankers to educate self-help groups (SHGs) on the advantage of solar energy, according to Dr N.K. Thingalaya, former Chairman and Managing Director of Syndicate Bank. Inaugurating a training programme on `Opportunities for ... More

BUDGET


`Budget lacks focus on expenditure'
More

COURTS/LEGAL ISSUES


`Suit on land outside jurisdiction cannot be entertained'
HC upholds single judge's ruling More

ECONOMY


`GDP growth down in Q3'
The over 8 per cent growth in the gross domestic product (GDP) posted by the economy during the first two quarters of the current fiscal appeared to have halted as per the third quarter GDP estimates released by the CSO. It has ... More

Inflation rises on surge in mineral prices
Wholesale Price Index up by 0.3 per cent to 197.1 points More

ENGINEERING


`Tool units should adopt available software'
The Brakes India MD said higher imports to meet the dies and moulds requirements in the country should be arrested and companies must improve competency. More

ENVIRONMENT


Flying British MPs may help Indian clean mechanism projects
UK Govt offices likely to shell out funds to buy carbon credits to offset green house gas emissions More

FOREIGN TRADE


Bush wants FDI caps to go
$100-m agri-knowledge initiative announced More

CEO forum identifies key areas for Indo-US trade
Proposes $5-billion infrastructure development fund More

German team in Kolkata to explore biz ties
More

Malaysia seeks to boost trade ties via jt venture route
Second Malaysia-India economic meet in April `07 More

Fourth US consulate to be located in Hyderabad
Mulls $100-m tech transfer fund More

Task groups to follow up CEO Forum suggestion
The recommendations of the India-US CEOs Forum for furthering ties in several areas would be studied by separate task groups, which will be set up shortly, the Planning Commission Deputy Chairman and Indo-US Business Council co-chair, Mr Montek ... More

HEALTH


US reagents to detect bird flu
As part of increased bilateral co-operation in health and science, the US has provided India vital diagnostic reagents to allow rapid and accurate detection of H5N1 avian influenza virus infection in humans. These reagents will ... More

INFRASTRUCTURE


Madras HC orders status quo in integrated township case
Cancellation of land allotment order to Singapore firm More

PETROLEUM


Petroleum regulatory board Bill passed
Long-standing demand of industry, investors More

Govt offers 10 CBM blocks in third round
The Minister for Petroleum and Natural Gas, Mr Murli Deora, on Friday kicked off the first promotional road show on the third offer of coal-bed methane (CBM-III). Speaking on the occasion, Mr Deora said, the Government has offered 10 CBM blocks ... More

Deora to meet Finance Minister on oil issues
To discuss fuel pricing, subsidies; decision likely by month-end More

Mumbai High restoration by June
ONGC expects to restore 2.7-lakh barrels per day (bpd) of crude oil output from Mumbai High fields by June. Mr Subir Raha, Chairman and Managing Director, said, "We expect to restore the output to the level before the July fire, which ... More

ONGC may not sell IOC stake
ONGC on Friday said it plans to sell its stake in GAIL (India) Ltd but will hold on to its stake in Indian Oil Corporation Ltd. Speaking to newspersons, Mr Subir Raha, Chairman and Managing Director of ONGC said, "We don't have ... More

POWER


National Load Dispatch Centre planned at Delhi, Kolkata
Move in line with stipulations of Electricity Act 2003 More

AES plans 1,000-MW unit in Chhattisgarh
The US power major AES Corporation today announced an investment of $1.2 billion for setting up a coal-fired 1,000 MW plant in Chhattisgarh. The company today signed an MoU with the Chhattisgarh Government, under which it will develop, ... More

`No public participation in power sector'
The near absence of public participation in the policy-making process in the country's electricity sector and the lack of provisions to prevent conflict of interest among policy-makers are among the observations that form part of a report on the ... More

TN chapter of energy society
The Tamil Nadu Chapter of the Society of Energy Engineers and Managers (SEEM) was launched at a function held at Amrita Vishwa Vidyapeetham in Coimbatore last week. A three-day all-India capacity building programme in energy ... More

STEEL


Steel cos parking cash with banks
T-Bills, at 6.75 per cent coupon rate, lose appeal More

TAXATION


VAT compensation may not fully meet revenue shortfall
According to sources, compensation would not be paid out on the basis of revenue shortfall estimated by the States themselves. More

Govt says no to extend service tax payment date
The Finance Ministry has rejected demand from trade and industry for extending the due date for payment of service tax to the Exchequer. Currently, the service tax collected by a service provider during a month has to be deposited with the ... More

`MAT hike to affect foreign cos too'
The Finance Bill 2006 has proposed some changes concerning international taxation, according to Mr P.V.S.S. Prasad, Chairman, Hyderabad Sub-Chapter of International Fiscal Association. He said taxes paid in a foreign country by an assessee in ... More

Plan to bring co-op banks under I-T net opposed
Sahakara Bharathi, a cooperative forum, has opposed the proposal of the Union Finance Minister, Mr P. Chidambaram, to include cooperative banks under income tax net. A press release by Mr K. Padmanabha, All-India General Secretary of Sahakara ... More

WATER


Kerala: Water levels decline in major reservoirs
Water levels at the three major reservoirs in the State - Idukki, Idamalayar and Kallada - have recorded a decline during the week ended Monday. According to figures released by the Central Water Commission, the level ... More

COAL


Coal blocks identification to be taken up soon
Deblocking of 20 billion tonnes of reserves More

MANAGEMENT


`Corporate life akin to entering wedlock'
Call to internalise technical learning and sharpen decision-making skills More

BREWERIES


UB, Scottish & Newcastle to launch new brands
UB's flagship brand Kingfisher too could be launched in foreign markets More

EDUCATION


Talent search
PARTICIPANTS WAITING outside the venue of Techno Grail, a national level talent search programme organised by the Department of Computer Science at Andhra University in Visakhapatnam on ... More

MEDICAL & SURGICAL EQUIPMENTS


`Local cos can bring down health care costs'
The price of intra-ocular lenses that were once imported at $75 a piece has now come down to a fraction after local manufacture of the lenses began. More

REAL ESTATE & CONSTRUCTION


HI-REF buys 33 pc stake in Ansal IT
Real estate company Ansal Properties and Infrastructure Ltd (APIL) has entered into formal documentation with HDFC India Real Estate Fund (HI-REF) for the latter's investment in the share capital of Ansal IT City and Parks Ltd (Ansal IT), a ... More

Brigade Group announces Rs 3,000-cr investment
Twelve real estate projects to be established More

BIO-TECH & GENETICS


Global meet on biotech from March 9
A three-day international conference on biotechnology for sustainable agriculture and agro industry would be held here from March 9. The Agri-Biotech-2006 is being jointly organised by All India Biotech Association, AP-Netherlands ... More

PACKAGING


Corrugated box makers' plea
Corrugated box manufacturers who find themselves stuck with 16 per cent excise duty on boxes want to be treated on par with their raw material supplierswho pay 8-12 per cent. At a press conference here on Friday, Mr Lalith ... More

FOREIGN DIRECT INVESTMENT


`India on path for sustained growth'
Seize opportunities in India, foreign investors told More

RURAL DEVELOPMENT


NPC mission on holistic rural development — Productivity, IT to serve as enablers
Aimed at launching a mission on holistic rural development, the National Productivity Council (NPC), a national level organisation to promote productivity culture in the country, has decided to join hands with the non-governmental organisations. ... More

INCOME TAX


New breed of consultants
Appointment of a Tax Return Preparer will result in another tier of authority More

Tax experts, CAs flay new clauses
Interest payment on borrowings under clause 43B of I-T Act More

EXPORTS & IMPORTS


Draft rules on taxable services
The Finance Ministry has issued draft rules for levy of service tax on taxable services provided from outside India to recipients in India. Services imports into the country already attract service tax. To provide more clarity and certainty to ... More

Global market's weakness hits oilmeals price
Bird flu incidents have minimum impact on domestic rates More

Sakthi Sugars aiming to export 1.5 lakh tonnes
Sakthi Sugars is comfortably exporting 10,000-15000 tonnes of sugar every month. The company still has an export obligation for 2.5 lakh tonnes (lt) and is hoping to export at least 1.5 lakh tonnes this year, its Managing Director, Mr M. ... More

TOURISM


`Visit Malaysia' campaign
Tourism Malaysia on Friday announced a Rs 12-crore campaign in India to celebrate its `Golden Anniversary' (50 years) of Independence and attract more than 3.5 lakh Indian tourists to `Truly Asia' by 2007. The Malaysian Government's ... More



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Union Budget 2006-2007

Economic Survey 2005-2006


Top Stories
Global market's weakness hits oilmeals price


Balanced funds may lock into higher equity pie

National Load Dispatch Centre planned at Delhi, Kolkata

Steel cos parking cash with banks

Banks queue up for loan to IA

Delay proves costly for ONGC in Nigeria

In Focus

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

In Depth

Gender Justice
Simple Economics
Tax Talk
More

Looking back
Feb. 19-Feb. 25
Equity funds eye realty sector in a big way
To explore investments in residential, commercial projects


Bird flu: No human infection reported so far, says Health Secy

Well-cooked chicken, eggs safe, says Govt

Pharma cos buck up; busy lining up drugs

FM stations to zoom in on regional ads in small towns

Centre may not allow sale of Tamiflu in retail market — `Drug has adverse side-effects, not safe for children too'

Shortfall likely in direct tax collection this fiscal

Air India places $2-b order for GE engines

Govt yet to decide on DAP subsidy

Hectic lobbying on by vegoil refiners against cheap imports

Bankers seek lower service tax on credit cards

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

Govt cautious on opening up retail FDI — Exploring role model for multi-brand segment

IPO scam fall-out — CBI conducts search at Karvy, Vijaya Bank, BhOB premises

IMF cautions India on the fiscal front

`Bird flu scare results in Rs 200-cr loss to truckers'

Poultry insurance covers bird flu losses, clarify officials

Bihar provides a sweet cure for sugar sector — Offers attractive incentive; plans PSU units privatisation

Railway budget to take care of all sections — Lalu Prasad rules out increase in passenger fares

Kochi region excise revenue

Unsold stocks worry poultry farmers

Railways improves freight earnings by Rs 3,000 cr

Low-cost carriers see no impact — Travel sector hails move

Airlines not perturbed by reduced AC rail fares



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