Airlines
Boeing deliveries likely to decline
THE terrorist attacks in the US last week will affect the deliveries of Boeing aircraft in the near future.
Northwest suspends flights to Delhi
NORTHWEST Airlines has announced temporary suspension of services to and from Delhi. This makes it the second US-based airline, after United Airlines, to announce withdrawal of services from India in the past 48 hours.
Automobiles
Daewoo's engine plant closed
DAEWOO Motors India Ltd (DMIL) today formally announced the closing of its engine and transmission plant at Surajpur, which has been lying idle since October last, forcing it to scout for a buyer.
Banking and Finance
Development banks' credit profile under strain: S&P
INTERNATIONAL rating agency, Standard & Poor's, has rung alarm bells that India's development banks are ``under pressure as they move toward universal banking'' while it has affirmed `BB' long term and `B' short term credit rating on all-India developmen
t financial institutions (DFI) with negative outlook.
Corporate
Export house status for Visaka Ind
HYDERABAD: The Joint Director-General of Foreign Trade has accorded export house status to Visaka Industries Ltd for a period of three years till March 31, 2004. Last fiscal, the company had exported Rs 19.25 crore worth of synthetic blended yarn, accord
ing to a press release. -- Our Bureau
Castrol board to discuss Tata-BP merger today
THE board of directors of Castrol India Ltd will meet tomorrow to discuss the amalgamation scheme of Tata-BP Lubricants with the company.
Zydus Chairman Ramanbhai dead
THE 76-year old Chairman of the Zydus Group, Mr Ramanbhai B Patel, passed away in Ahmedabad on Wednesday.
Bid to boost debt-equity ratio -- Titan seeks to shore up base with fresh capital
TITAN Industries Ltd has sought to inject fresh equity to modify its high debt-equity ratio. This will be the second equity infusion in the two decade-old company's history, the last one being almost a decade back.
Economy
US attacks: A shot in the arm for money laundering Bill?
THE terrorist strike in the US has set Government managers here thinking of an early enactment of the legislation on Prevention of Money Laundering. Good intentions notwithstanding, there is clearly lack of ``political will'' to put in place stringent la
ws to curb this offence, said top sources.
Sinha plans pep talk with FIIs
THE Government has sought to alleviate the fears of foreign institutional investors, who had sold heavily last week in the local markets, following the terrorist strike in the US with the Finance Minister, Mr Yashwant Sinha, holding talks with overseas i
nvestors in Europe and the Far East.
Environment
Tamil Nadu: 2 CETPs coming up in Coimbatore
COIMBATORE: At least two common effluent treatment plants (CETPs) will come up in Coimbatore on an outlay of Rs 4 crore each, within the next year.
Fertilisers
4 lakh tonnes urea to be imported
FOR the first time since 1999-2000, the Government has taken a decision to import four lakh tonnes of urea to bridge a likely shortfall in domestic availability vis-a-vis requirement during the coming rabi season.
Information Technology
Nimda -- a terror, any which way
A NEW virus hit Internet and computer systems across the world on Wednesday. First reports indicate that it could be more damaging and costlier than the Code Red worm, and for most Indians, the SirCam virus.
PSU
Cabinet meet on bid to expedite sell-offs
IN an effort to expedite the reforms process, the Cabinet Committee on Disinvestment (CCD) is set to consider a proposal to park entities which are to be disinvested with the Ministry of Finance once the proposal to disinvest has been accepted, the Minis
ter for Disinvestment, Mr Arun Shourie, said here on Wednesday.
Integrated view on PSEs revamp sought
THERE should be an integrated view for restructuring, corporate governance and disinvestment of public enterprises. Public sector enterprises (PSEs) should be properly packaged to sell so that they can derive best value, according to Mr D.K. Varma, Chair
man, Standing Committee of Public Enterprises (SCOPE).
Petroleum
`Crude prices hinge on US course of action'
THE global oil price shock will begin to tell on the country's import bill only after a fortnight's period since India purchases crude on a tender basis which is priced on the average for the month around the date of purchase.
Power
Judicial probe into all aspects of Enron deal
THE Maharashtra Government today ordered a judicial probe into all aspects of the controversial Enron's Dabhol power project.
Tata Power makes formal proposal for Dabhol
TATA Power Company has made a formal proposal to the Centre evincing interest in buying over the 2,184-MW Dabhol Power project. This is the first such proposal from any company since Enron indicated that it wanted to sell out its stake in the controversi
al power project.
Agreement with Nagarjuna Power -- Karnataka may appeal against HC verdict
THE Karnataka Government is likely to go on appeal against the Single Bench verdict of the High Court in the Nagarjuna Power Corporation case.
States
In-principle nod for second airport at Navi Mumbai
THE Maharashtra Government's proposal for a second international airport at Navi Mumbai has been approved in principle by the Union Government, and detailed project reports have been prepared, according to the Chief Minister, Mr Vilasrao Deshmukh.
PM to meet CMs at October conclave
THE Prime Minister, Mr Atal Bihari Vajpayee, is to hold a two-day meeting with State Chief Ministers in Karnataka from October 24, the Minister for Disinvestment, Mr Arun Shourie, said here today.
Karnataka clears Rs 264-cr worth investment projects
INFLOW of more than Rs 130 crore on three beach resorts and an eco-tourism resort in the coastal region of Karnataka is the highlight of the fresh project approvals of the single-window agency of the Karnataka Government, which in all gave clearance to e
ight investors on different projects aggregating an investment of Rs 264.20 crore in its meeting on Tuesday evening.
Kerala to enact law on infrastructure
THE Kerala Government will soon come out with an ``infrastructure development'' legislation as part of its efforts at speedy industrialisation of the State.
Steel
Call for reduction in global steel capacity
THE global nature of the problems facing steel companies and the role that over-capacity and associated over-production were playing came in for close attention at the high-level meeting on steel convened by the OECD early this week. The meeting noted th
at in a growing number of instances, the effects of the financial performance of firms had been pronounced, with some companies struggling to survive.
Stocks
Nestle: Block deals on Black Monday
SEPTEMBER 17 was ``black Monday" for the stock markets, but for the fast-moving consumer goods major, Nestle India Ltd, it was a different day with the price and volumes moving up.
Marketmen sore over Govt `foot-dragging'
STOCK market players are on tenterhooks as to which way the markets would move as the Taliban and the US Government continue to play their game of oneupmanship.
Change in NSE trade hours
THE National Stock Exchange (NSE) has decided to change the trading timings from September 24 to October 9.
SEBI fiat to NSE on cash market prices
THE Securities and Exchange Board of India (SEBI) has asked the National Stock Exchange (NSE) to make available the cash market closing prices before conducting the options exercise session. SEBI officials said that the markets regulator aims to plug the
gap in the derivatives segment, as unavailability of cash market closing prices force the investors to take a bet at the time of exercising the options.
Terrorism
US attacks: UAE gripped by uncertainty
A WEEK has passed since the terrorist attacks on the US. For residents in the UAE, queries of ``how'' and ``why'' have been replaced by ``what will happen next''. The implications of a possible escalation in tensions in the nearby sub-continent is occupy
ing everyone's minds.
Textiles
Powerloom export quota norms eased
THE Union Textiles Ministry has relaxed certain conditions governing the powerloom export entitlement (PEE) allotment so as to overcome the difficult market conditions faced by exporters.
Wool industry asked to scale up growth
THE recent terrorist attacks in the US, which is the second largest consumer of wool products next to Japan, would have an impact on the global wool textile industry, according to the Chairman of the Woolmark Company, Mr Rodney Price.
Bids soon for sale of four AP co-op mills
THE Implementation Secretariat, the body overseeing and implementing privatisation process of the State-level public enterprises (SLPEs) in Andhra Pradesh, is in the process of calling for bids for sale of four co-operative spinning mills.
