The Hindu Business Line : Saturday, September 02, 2006

NRIS
NRE, FCNR deposit rates cut
Karnataka Bank Ltd has revised interest rates on its NRE and FCNR (B) deposits with effect from September 1. A bank release said on Friday that interest rates on NRE term deposits have been reduced to 6.41 per cent (6.54 per ... More

ECONOMY
Economy logs 8.3 pc growth in Q1: CII report
Chamber expresses concern over achieving a higher growth rate More

Petro product prices unlikely to be raised now
Indian crude basket stands below $ 70 a barrel; Ministry to take consolidated look at prices More

`Increased gap between States, a sign of success'
Growth rates before 1980 were below 2 per cent in almost all States with the exception of Punjab, Haryana and Maharashtra. According to a May 2006 World Bank report, the first stirring of reforms in the early 1980s led to a marked acceleration in ... More

Warming Pacific may fire up NE monsoon in peninsula
The current climatological outlook for southern India could change in the IRI forecasts from September if the tropical Pacific does warm further. It is possible that this could force a review of the forecasts, which for now "do not indicate any parti cular deviation from climatology for the southern Indian peninsula." More

FOREIGN TRADE
FIEO meet on trade in services from Oct 4
To focus education, health and tourism sectors More

HEALTH
Leaky sachets, not pesticides, are the most frequent complaint
Twenty lakh litres of milk per day is what Tamilnadu Co-operative Milk Producers' Federation Ltd (TCMPF) processes and sells in Chennai and district markets. More popularly known by the brand Aavin, the Federation has a 65 per cent of market ... More

INFRASTRUCTURE
Clearance soon for Kakinada SEZ: Minister
Mr M. Pallamraju, Union Minister of State for Defence, who represents the Kakinada Lok Sabha constituency, has said the clearance for the first phase of the proposed special economic zone here is awaited and it may come soon. At a press meet ... More

PETROLEUM
ATF price rise may warrant hike in fuel surcharge
ATF prices have risen from Rs 38,000 a kilolitre in June to Rs 46,000 this month More

Ministry yet to consider RIL's request on export of surplus LPG
Asks RIL, oil marketing cos to work out optimisation plan More

Deora urges oil PSU officers to drop strike plan
The Petroleum Minister, Mr Murli Deora, has appealed to the public sector oil companies' officers to call off their proposed indefinite strike from September 5. Speaking at a function to celebrate the 43rd Indian Oil Corporation Day, the ... More

IOC to rope in foreign partners for exploration under NELP-VI
Eyeing majority stake in shallow water, on-land blocks More

Paradip-Haldia pipeline delayed
The commissioning of IndianOil's Rs 1,178-crore Paradip-Haldia crude pipeline inclusive of single point mooring (SPM) and storage facility at Paradip is delayed till January-February 2007. The pipeline was originally slated to be commissioned in ... More

POWER
Power cos in talks with Rlys for long-term supply
Railways to hire a consultant for price-review mechanism More

STEEL
Steel majors cut prices
Most of the Indian steel manufacturers on Friday announced price cuts in the range of Rs 500-1,000 for hot rolled flat steel. An upward trend is seen in long products. Steel Authority of India Ltd reduced prices of hot rolled flat steel in the ... More

TAXATION
TAAI calls for common tax system
The Travel Agents Association of India (TAAI) has called for a common taxation system throughout India. "We don't want multiple taxation. While the country is moving towards value added tax for goods, we would like the Government to introduce a ... More

SSI
CII lays stress on developing SME clusters in Vizag
More

COAL
Coal loading declines in July
Drop attributed to bad weather, particularly heavy rains in eastern region More

EDUCATION
IIJT opens two centres in Bangalore
Indian Institute of Job-oriented Training (IIJT) has announced its foray into Karnataka by opening two centres in the city. The Kolkata-based vocational training institute plans to open another six in the city. It has 35 centres across the ... More

ICAI to help Bengal connect university syllabi with IT
Finetuning syllabi to make students become more IT-savvy More

ELECTRICAL GOODS
PowerDsine to roll out more products
`Power over Ethernet' tech catching up. More

REAL ESTATE & CONSTRUCTION
Hyderabad faces shortage of quality office space
Situation likely to improve by next year More

Aerens Group plans to tap market by 2008 to raise Rs 1,000 cr
Realty developers Aerens said on Friday that it was planning to tap the capital markets in the latter half of 2008 to raise Rs 1,000 crore through issue of its IPO. The amount would be used for its future projects. Currently, the company is ... More

MINERALS
Global mineral fair from Sept. 11
The sixth international trade fair and conference on minerals, metals, metallurgy and materials would be held in Delhi between September 11 and 14. The Indian Institute of Metals is organising the event which is being ... More

TRADING
Traders protest sealing of biz firms
The traders in Delhi began their three-day dharna on Friday at Jantar Mantar protesting the sealing of business establishments in the Capital. The Confederation of All India Traders demanded that status quo of December 31, ... More

EVENTS
Nasscom summit on outsourcing
The National Association of Software and Sservices Companies (Nasscom) has announced that it would host a three-day summit here starting September 5. Themed `Setting Benchmarks in Global Outsourcing,' the summit would focus on ... More

Meet on coastal Karnataka, Mangalore
Aloysius Institute of Business Administration (AIBA), Mangalore, will organise a symposium - `Pragati: Changing business horizons in coastal Karnataka' - on September 4. An AIBA press release said here on Friday that Mr Anantakrishna, ... More

ENTREPRENEURSHIP
ISB to host networking event for entrepreneurs
The Wadhwani Centre for Entrepreneurial Development (WCED) at the Indian School of Business (ISB) and The Indus Entrepreneurs (TiE) are set to host TiE - ISB Connect 2006, a networking event for entrepreneurs, investors and business leaders. ... More

INCOME TAX
Big jump in individual I-T returns filed this year
Govt's extensive advertisement campaign pays off More

EXPORTS & IMPORTS
7.3 lakh tonnes wheat arrives in ports
STC floats tenders for addl 16.7 lt; bids to be opened on Sept 5 More

VENTURE CAPITAL
Matrix promoter may turn angel investor
Evaluating various options of investment: N. Prasad More

ECONOMIC OFFENCES
Money-laundering zones in the making?
Section 10AA, inserted by the SEZ Act, could turn out to be another money laundering mechanism More