Airlines
SIA not interested in AI -- Maran's efforts on rethink have no effect
THE Tatas will have to look elsewhere for a joint venture partner for picking up a stake in Air India, with Singapore International Airlines (SIA) indicating that it is no longer interested in the project.
Canadian airline may postpone Toronto-Mumbai flight launch
THE tepid response to its proposed Toronto-London-Mumbai sector service may force the Canadian airline, Canada 3000, to postpone its launch schedule from November to December.
Automobiles
Tax sops for auto industry ruled out
THE Union Minister of State for Heavy Industries and Public Enterprises, Dr Vallabhai Katheria, has ruled out any tax concessions (excise duty) for automobile manufacturers in the near future.
Banking and Finance
Personal loans: Easy, but costly
ALTHOUGH personal banking is the new buzzword in banking circles, interest rates on personal loans continue to be higher than those prevalent in other loan segments.
Coal
Revision of coal royalty rates by year-end: Paswan
NEW royalty rates payable to the State Governments by Coal India Ltd (CIL) will be finalised before the end of the current financial year. A committee under the chairmanship of the Additional Secretary of Coal has been set up for this purpose.
Corporate
NPIL told to take up Grastim issue with DCGI
THE Monopolies & Restrictive Trade Practices Commission (MRTPC) today observed that since the matter with regard to the cancer drug of Dr Reddy's Laboratories (DRL) was with the Drug Controller-General of India (DCGI) it would not proceed with it.
Economy
Consultations on WTO issues
AS part of the process of consultations for building consensus on WTO-related issues, the Union Minister of Commerce and Industry, Mr Murasoli Maran, today met Congress leaders, Dr Manmohan Singh and Mr Pranab Mukherjee, to formulate India's final stand
for the forthcoming Doha Ministerial Conference to be held in November this year.
Financial Performance
Wipro net rises 40 pc in Q2
WIPRO Ltd has reported a 40 per cent growth in its net profit for the quarter ended September 30, 2001 at Rs 216.5 crore compared to the same period last year and revenue was up 15 per cent at Rs 877.6 crore.
Health
Anthrax scare in New Delhi
THE anthrax-scare hit the Capital on Thursday with Indraprastha Apollo Hospitals turning over a ``suspicious looking'' letter, addressed to one of its doctors, to the National Institute of Communicable Diseases (NICD).
Mutual Funds
UTI restructuring proposed with sponsoring co, strategic investor
THE Corporate Positioning Committee for the Unit Trust of India, headed by Mr Y.H. Malegam, has recommended restructuring of the trust with a sponsoring company, capitalised at Rs 550 crore, and the setting up of an asset management company (AMC) with a
capital base of Rs 1,000 crore.
IDBI part of promoter group for UTI MFs
IDBI and a few other financial institutions along with State-owned banks led by the State Bank of India could well form part of the group of promoters of the sponsoring company to operate UTI's mutual funds after the proposed restructuring.
PSU
HZL divestment gets shot in the arm -- Secy group clears shareholders pact
THE core group of Secretaries on Disinvestment has cleared the share holders agreement for the disinvestment of 26 per cent of the Government equity in Hindustan Zinc Ltd (HZL), taking the process a step closer to the financial bidding stage.
Petroleum
LPG industry upbeat on subsidy extension move
REMOVAL of the eight per cent countervailing duty (CVD) and exemption of State sales tax are likely to be some of the measures aimed at offsetting the continuance of 15 per cent subsidy burden after the dismantling of the administered pricing mechanism (
APM) for the LPG industry.
LPG, kerosene prices not to be hiked: Naik
THE Government will not raise the prices of kerosene and LPG till March 31, 2001, when the administered pricing mechanism (APM) will be dismantled, according to the Union Petroleum Minister, Mr Ram Naik.
Politics
Protest rally in Hyderabad
The local Congress supporters holding banners and flags at a rally in Hyderabad on Thursday to protest against the reinduction of Mr George Fernandes as Defence Minister into the Cabinet.
Power
Court allows amendments to DPC petition
A MUMBAI High Court Division Bench today allowed amendments to the Dabhol Power Company's (DPC) petition alleging bias in the Maharashtra Electricity Regulatory Commission (MERC). The two-judge bench headed by Mr Justice A.P. Shah posted the matter for h
earing on December 11.
Shipping
Maritime State Council meet in Goa on Oct 19
THE Martime State Development Council, headed by the Union Minister of Shipping, will meet in Goa on October 19 and 20 to discuss the growth of non-major ports in the country.
States
Maharashtra cautioned on Dabhol stand-off
THE financial standing of the Maharashtra State Government would be certainly impaired if the power purchase agreement (PPA) between Dabhol Power Company and the State Electricity Board is not successfully renegotiated, according to rating agency CARE.
AP commercial taxes revenue up 10.4 %
THE Andhra Pradesh Commercial Taxes Department has achieved 96.33 per cent of the revenue target both under APGST and CST Acts up to September 2001, thereby registering a growth rate of 10.47 per cent over last year, which the Government claimed is amon
gst the highest in the country.
Kerala to adopt `new approach' to decentralisation process
THE United Democratic Front (UDF) Government in Kerala will adopt a ``new approach'' to the people's planning process that was set in motion in the State nearly five years ago.
Govt rules out support to transport body
THE Andhra Pradesh Government has made it clear to the striking workers of the A.P. State Road Transport Corporation that they would not provide any additional support to them and it was in their interest to resume work.
AP to boost fly ash brick sector
THE Andhra Pradesh Government wants to promote fly ash brick sector as one of the rural employment and infrastructure development programmes and to adopt advanced concrete technology as a State programme to ensure improvement and durability of constructi
ons.
Telecommunications
Foreign shareholders raise query on Batata-BPL merger
FOREIGN institutional shareholders of BPL Communications Ltd have raised objections to the merger between Birla-AT&T-Tata (Batata) and BPL, alleging that their approval was not sought before finalising the deal. BPL Communications Ltd is the holding comp
any for BPL's cellular ventures, BPL Mobile and BPL Cellular.
TRAI begins tariff review
THE Telecom Regulatory Authority of India (TRAI) has begun its review of telecom tariffs with a meeting of experts today.
Textiles
Knitwear exporters jittery over EU quota hike to Pak
THE cotton knitwear exporters are appalled by the European Union move to give enhanced quota to Pakistan for the latter's textile and clothing export to Europe.
Textile Ministry assessing implications
The European Commission's proposed preferential trade package for Pakistan has not come as a surprise to Indian Textile Ministry officials, with many of them pointing out that it was the outcome of a series of negotiations between the EU and Pakistani ne
gotiators that began in March.
Transport
Rail freight data points to core sector recovery signs
IS the slowdown in the core sector of the economy showing signs of reversal? Rail freight movement -- an important barometer of core sector performance -- during September and the first 15 days of October seems to suggest recovery signs.
Rlys moot pvt funds for freight terminals
THE Railway Board has drawn up a scheme to promote privately funded goods terminals at locations having traffic potential.
Travel & Places
7-point plan for tourism sector mulled
THE Union Minister for Tourism, Mr Jagmohan, has proposed a `seven-point programme' to meet the adverse condition affecting the sector after the September 11 attacks in the United States.
