Advertising & Marketing
MRTPC clean chit to Videocon
VIDEOCON International Ltd has been absolved of the charges of indulging in unfair trade practices (UTP) as no case was made out against it. The Monopolies & Restrictive Trade Practices Commission (MRTPC) discharged the notice of enquiry (NoE) issued to
Videocon International as ``no pith or substance was left in the case''.
Airlines
Lower fares help IA lure more passengers
INDIAN Airlines seems to be reaping the benefit of offering lower fares than its competitors within the country. The airline carried more than 6,00,000 passengers on the entire route network during October, reporting an average daily passenger load of mo
re than 19,000.
Banking and Finance
Indian Bank VRS from Nov 27
THE voluntary retirement scheme (VRS) for Indian Bank employees will open on November 27 and will be operational for one month, according to a bank release.
Stiff targets for weak banks under revamp package
THE restructuring package for the three weak public sector banks would for the first time set out stiff physical targets to be achieved by them against the financial support to be extended by the Government. The physical targets would be in addition to t
he financial targets to be set for the banks.
Corporate
IOC, RPL going for loan syndication
MAJOR Indian issuers, Indian Oil Corporation (IOC) Reliance Petroleum Ltd (RPL) and the Power Finance Corporation (PFC), are planning to enter the overseas loan syndication market for commercial borrowings.
Economy
CII survey sees modest pick-up in production
THE Confederation of Indian Industry's (CII) 54th `Business Outlook' survey, based on the response of 265 companies, shows signs of a moderate pick-up in production in spite of depressed sentiments.
Foreign Trade
CEGAT rejects plea to quash dumping duty on NTCF imports
THE Customs, Excise and Gold (Control) Appellate Tribunal (CEGAT) has rejected the appeal filed by the Automotive Tyre Manufacturers' Association (ATMA) seeking quashing of definitive anti-dumping duties imposed by the Government on nylon tyre cord fabri
c (NTCF) imported from South Korea, Indonesia, Thailand and Taiwan.
FICCI to study impact of imports from China
THE Federation of Indian Chambers of Commerce and Industry (FICCI) is setting up a task force to examine the impact of growing imports from China and the scenario which would emerge after China's entry into WTO.
Insurance
Profits tax: LIC, new cos may be treated alike
THE Finance Ministry is set to accord uniform tax treatment to profits made in the life insurance business by all players -- be it the new private sector entrants or the Life Insurance Corporation (LIC), hitherto the sole player.
Royal Sundaram launch by Jan
SUNDARAM Finance will be launching Royal Sundaram Alliance Insurance Company Ltd by January, according to the Joint Managing Director, Mr T.T. Srinivasa Raghavan.
Petroleum
IOC set to ink fresh deals with 7 shipping cos
INDIAN Oil Corporation (IOC) has finalised fresh contracts with seven domestic shipping companies for 19 vessels for the movement of petroleum products along the coast.
Power
Time not ripe for divestment, says KPCL
THE State-owned generation company, Karnataka Power Corporation Ltd (KPCL) has opposed divestment of equity by the government as proposed by the Infrastructure Development and Finance Company (IDFC).
States
Plan to let States enter debt markets directly
THE Reserve Bank of India has initiated a proposal with State Governments for their direct entry into the financial markets for meeting their borrowing requirements.
CII plans 3-day expo
CALCUTTA: The Confederation of Indian Industry (Eastern Region) is to organise Metcomp 2000, a three-day exhibition, here from November 22.
Rs 6.72 lakh for bio-diversity study
COIMBATORE: The Ministry of Environment and Forests has sanctioned Rs 6.72 lakh to the Tamil Nadu Agricultural University for undertaking a research on `Biodiversity of Nematodes in Western Ghats'. The project is for a period of t
hree years.
Plea to ban import of matches
MADURAI: A meeting of All India Federation of Cottage Matches Manufacturers Associations, at Sattur, near here
Separate cell for cotton development
COIMBATORE: The State Government has created a separate cell within the directorate of agriculture which will specially look after/monitor cotton development programmes being undertaken in the State.
`Co-operative week' from tomorrow
MANGALORE: As part of the forty-seventh nation-wide `co-operative week' from November 14 to 20, the Dakshina Kannada District Co-operative Union Ltd is to conduct a week-long `soul-searching' exercise in various places in the district to
take stock of the situation being faced by co-operative societies in the new economic regime.
Rs. 18-cr Muga Golden thread project
GUWAHATI: The State Government has launched a Rs 18-crore Golden Thread Project in the famous weaving township of Sualkuchi near Guwahati to produce 11.3 lakh metres of Eri clothes and 58.20 tonnes of Muga thread by 2002. The project w
ill be implemented in three years in eight districts of Assam.
Brazil's tech hub keen on tie-ups
BANGALORE: Brazil's technology hub, Santa Catarina, is looking at possibilities of collaboration with the State in information technology, pharmaceuticals, agriculture among others.
ICWAI convention in Hyderabad
HYDERABAD: THE Southern India Regional Council of the Institute of Cost and Works Accountants of India (ICWAI) is scheduled to hold its two-day regional cost convention here on November 17 and 18.
EMU services to be introduced
CALCUTTA: The Eastern Railway, as part of a plan to cope with the spurt in suburban passenger traffic, has decided to introduce EMU (electrical multiple unit) train services in the Circular Railway route in the near future. There is also a
plan to run 12-car EMU trains soon, as these are ideally suited for suburban traffic.
KSIDC setting up `growth centre'
THE Kerala State Industrial Development Corporation (KSIDC) is setting up a 270-acre `growth centre' at Cherthalai in Alapuzha district.
Elgitread appoints franchisee in Assam
ELGITREAD (I) Ltd (EIL) of Coimbatore has started its operation in cold processing tyre retreading at Guwahati through its franchisee, Assam Retreads Private Ltd, promoted by two Guwahati based entrepreneurs. The project has been financed the North East
Development Finance Corporation (NEDFi) under its North East Equity Fund Scheme.
Syndicate Bank plans more branches in NE
SYNDICATE Bank has plans to open more branches in the north eastern region.
Plan for sector-specific industrial parks in Bengal
A period five days is too short; shorter still, when the shadow of as towering a personality as Mr Jyoti Basu falls across it. Thus, it becomes difficult for a casual observer of the State's scenario to discern any change in governance in West Bengal, w
hich witnessed a change of guard on November 6.
Hyderabad airport : AP pact with Ministry this month
HAVING firmed up the December 4 deadline for receipt of project proposals from the competitive bidding process, the Andhra Pradesh Government expects to choose the developer within about a month of receipt of concrete proposals for the Hyderabad interna
tional airport to be developed at Shamshabad, about 25 km from Hyderabad.
Steel
`QRs phase-out will lead to recession in steel'
DOMESTIC steel majors Steel Authority of India Ltd (SAIL) and Tata Iron & Steel Company Ltd. (Tata Steel) have expressed apprehensions that the phasing of quantitative restrictions (QRs) on imports, as required by the World Trade Organisation (WTO) would
have a serious fallout on the steel industry.
Stocks
NSE members join to launch portal for brokers
MEMBERS of the National Stock Exchange (NSE) have come together and promoted a company -- Equity Market Projects India Ltd -- to launch an online trading portal. The promoters are the directors of the Association of NSE Members of India (ANMI).
Telecommunications
French telecom majors keen on joint ventures
LEADING French companies such as Alcatel, Vivendi and France Telecom have indicated their intent to increase presence in India. They have evinced interest in participating in the new round of tenders to be announced as well as in partnering the existing
companies providing basic and cellular services in the country.
Transport
Rlys can absorb diesel price hike impact: Mamata
INDIAN Railways (IR) is fully geared up to absorb the impact of increase in diesel prices, likely to be around Rs 275 crore for the current fiscal. Addressing a large gathering at the new complex of Howrah Station here today, the Railway Minister, Ms Mam
ata Banerjee, said the Railways could absorb a much heavier impact of Rs 475 crore on account of the diesel price hike the last time around, and hence, there need be no worry on that count.
