Airlines
IA decision on freighter operations in six months
A DECISION on whether Indian Airlines (IA) should embark upon freighter operations is expected to be made in the next six months. IA is currently engaged in an exercise aimed at examining the viability of proposed freighter operations - both internationa
l and domestic - with two Airbus A300B4 aircraft.
Banking and Finance
All banks, FIs can now use Infinet
IN a development significant for the country's banking and financial sector, the INdian FINancial NETwork (INFINET) has been thrown open to all private sector banks, foreign banks, cooperative banks and financial institutions across the country.
Corporate
Prodorite becomes Carborundum arm
PRODORITE Anti Corrosives Ltd (PACL), a subsidiary of Coromandel Engineering Company Ltd of the Murugappa group, has been detached from the parent company and made a subsidiary of Carborundum Universal Ltd (CUMI), another company of the same group.
Birla tyre unit likely to be sold to Pirelli
MR B.K. Birla, Chairman of Kesoram Industries Ltd (KIL), is said to be close to finalising a deal with Pirelli of Italy for outright sale of the tyre plant being run by KIL under the name and style of `Birla Tyres'. The deal was recently negotiated in Lo
ndon by Mr Birla with an empowered executive of Pirelli.
Economy
Reforms need joint Govt, industry drive, says PM
THE Prime Minister, Mr Atal Bihari Vajpayee, today asserted that India would ``pursue with determination'' the next generation of reforms even as it entails ``difficult decisions''.
World bank economist sees `strong' commitment to reforms
INDIA'S commitment to reforms remains strong despite the fact that this had been a tough process with probable setbacks on the way, the Chief Economist and Senior Vice-President of the World Bank, Dr Nicholas Stern, has said.
Environment
Recycling of tannery waste water -- US agency to fund TNPCB to conduct feasibility study
THE United State Trade and Development Agency (USTDA) signed an agreement by which it would provide $180,000 to the Tamil Nadu Pollution Control Board (TNPCB) for carrying out a feasibility study for recycling and reusing waste water from tanneries.
Information Technology
Bengal's second STP in place, more soon
THE West Bengal Chief Minister, Mr Buddhadeb Bhattacharjee, today inaugurated the Rs 5.5-crore second software technology park (STP) in the city.
DoS sells satellite idea to VSAT users
THE Department of Space (DoS) is marketing the idea of investing in a communication satellite project as a group, to VSAT users and operators.
Insurance
Life insurance joint venture -- Principal team arriving for talks with IDBI
THE Industrial Development Bank of India (IDBI) is finally moving ahead with its foray into the life insurance business along with a foreign partner. The likely foreign candidate for the marriage is believed to be Principal Financial Group of the US, wit
h which IDBI already has a joint venture in the asset management business.
Petroleum
India to plead for OPEC concessions
THE Petroleum Ministry is finalising a proposal for seeking special discounts and deferred payment facilities from the Organisation of Petroleum Exporting Countries (OPEC), according to the Union Petroleum Minister, Mr Ram Naik.
`Bangladesh closer to consensus on LNG export'
BANGLADESH is gradually moving towards a political consensus on exports of its hydrocarbon resources, particularly LNG, according to Mr Sudipto Mundle, principal advisor to Asian Development Bank's South Asia Regional Cooperation Programme Department (We
st).
Power
Masked T&D losses till last year -- Karnataka may write off farm power subsidies
The Karnataka Government has indicated that it would have to write off subsidies it had incurred on account of understating of the transmission and distribution losses made by the erstwhile State electricity board.
KFW loan likely for AP thermal unit
THE Andhra Pradesh Government and AP Genco are in an advanced stage of negotiations with German funding agency KFW to firm up a Rs 1,500-crore loan for an additional 660 MW single-unit thermal power plant at the existing Vijayawada thermal power station.
States
Bengal chamber drive to tackle population problem
THE Bengal Chamber of Commerce & Industry (BCCI), which is 146-years-old, is now giving the final touches to a population control plan that it proposes to implement at the community level, starting from the ranks of its member-companies.
Assam to set up infrastructure development centres for SSI units
THE Assam Government has taken up two schemes for setting up Integrated Infrastructure Development Centres (IIDC) for SSI units at Dalgaon in Darrang district and Bhomoraguri in Nagaon district. The Centre has cleared the project proposals and sanctioned
Rs 4.18 crore for the Dalgaon centre and Rs 5.10 crore for the Bhomoraguri centre.
Privatisation moves in AP yield poor response
THE efforts of the Andhra Pradesh Government to facilitate participation of private parties in infrastructure projects in the State have not yielded the expected results and this is more so in the construction of bridges, said Mr K. Vijayarama Rao, Minis
ter for Roads, Buildings & Ports, here.
Telecommunications
BSNL chalks out plans to increase efficiency
AS the Dakshina Kannada district of Karnataka lays claim to its share in the `telecom revolution', Bharat Sanchar Nigam Ltd has chalked out plans to increase its overall reach and efficiency.
