Accountancy
ICAI norms for joint ventures
A VENTURER should use the proportionate consolidation method for reporting the interest in a jointly controlled entity in its consolidated financial statements.
Airlines
Debate on aircraft noise touches a new high
THE complex problem of aircraft noise is an issue that must be tackled in such a way that environmental progress is achieved without adversely affecting the health of the global aviation industry.
BA `coupon' offer to woo passengers
IN a bid to woo passengers, British Airways has come out with an offer which is routed through the travel agents.
Panel may suggest passenger identification on air ticket
IN an effort to ensure that only genuine passengers board flights, the S.B. Mohapatra Committee set up to examine what exactly happened to the Alliance Airways (AA) flight between Mumbai and Delhi on October 3, is likely to suggest having some form of pa
ssenger identification on the air ticket itself.
Banking and Finance
Boards to consider ICICI merger with ICICI Bank
AFTER being ``on the cards'' for a long time, ICICI Ltd today announced that it has decided to take the final step towards universal banking. The boards of ICICI Ltd and ICICI Bank will take up a proposal to reverse merge the financial institution with t
he banking subsidiary at separate meetings on Thursday.
ICICI, bank reverse merger an acid test
SIZE, range and low-cost resources have been recurring themes in ICICI's strategy over the last few years. Ever since Development Financial Institutions (DFIs) were cut off from concessional funding in the early 1990s and asked to face heightened competi
tion, ICICI has relentlessly pursued its goal of becoming an universal bank to survive the changed environment.
ICICI's key is integration
AMONG the universal bank aspirants, ICICI has been, arguably, the most keen on an integrated unit offering different kinds of financial intermediation. Other dominant financial services groups, HDFC, for example, feel that it may be better to operate wit
h different companies catering to different markets because of the presence of multiple regulators in financial services.
Breweries
New wine in old bottle
THE next time you pour a large one, take a close look (that is, if you still can) just to make sure that your drink is clean.
Corporate
RIL production volumes up
RELIANCE Industries Ltd (RIL) has reported an increase in production volumes at 5.7 million tonnes, despite overall demand slowdown, against 5.3 million tonnes in the first half of financial year 2000-01.
Financial Performance
Satyam net rises 100 pc in Q2
SATYAM Computer Services Ltd has recorded total income of Rs 453.50 crore and a net profit of Rs 134.08 crore for the second quarter ended September 30, 2001 as against a total income of Rs 283.39 crore and a net profit of Rs 66.94 crore for the corresp
onding quarter last year.
Bajaj Auto Q2 net up 167 pc -- Profit lifted by payment from Allianz
BAJAJ Auto Ltd (BAL) has reported a 166.95 per cent rise in profit after tax for the July-September 2001 quarter (Q2), to Rs 143.70 crore from the previous corresponding Rs 53.83 crore.
Information Technology
Keltron set to launch information kiosks
THE Kerala State Electronics Development Corporation (Keltron) is set to launch information kiosks across the State with the help of local bodies.
BAeHAL forays into greener pastures
BAeHAL Software Ltd, the JV between the two aerospace giants Hindustan Aeronautics Limited (49 per cent) and BAE Systems UK (40 per cent), is venturing into developing software for space applications and flight simulators.
Infrastructure
US assistance for environment, aviation sectors to go up
THE US Trade and Development Agency (TDA) sees its assistance in India growing in the areas of environment and aviation. In environment, one sector that is likely to see increased activity is water supply and treatment, wastewater treatment and desalinat
ion.
PSU
MTNL divestment plan revived
FOLLOWING the successful and controversy-free privatisation of CMC Ltd and HTL Ltd, the Shourie-Mahajan duo has zeroed in on Mahanagar Telephone Nigam Ltd (MTNL) as the next stop for a big ticket disinvestment in the telecom sector. The Ministry of Disin
vestment (MoD) has now revived a dormant proposal to further disinvest the Government's equity in MTNL through the strategic sale route.
Policy
Contract Labour Act not to be repealed: Govt
THE Government today ruled out the possibility of repeal of the Contract Labour (Regulation & Abolition) Act, 1970 (CLRA) even as it held that amendments to the legislation would be approached in a manner that would ensure ``harmonious'' industrial relat
ions in the country.
States
IA to close booking office
WITH a view to rationalise its reservation facilities, Indian Airlines (IA) close down its booking office at PTI Building, Parliament Street, Delhi from October 28.
Pant moots steps to combat Bihar flood woes
THE Planning Commission Deputy Chairman, Mr K.C. Pant, has said that combating problem in the chronically flood-hit Bihar demands both long-term and short-term measures.
Karnataka: KASSIA plea on tax arrears
BANGALORE: The President of the Karnataka Small Scale Industries Association (Kassia), Mr S. Babu, on Wednesday urged the Government to extend the period it has considered for waiving the interest on tax arrears. He recommended a waiver period of two yea
rs to help the small-scale sector that is reeling under a recession.
Steel
Jindal plans steel estate near Bellary
JINDAL Vijayanagar Steels Ltd (JVSL) is setting up a Rs 51-crore steel estate complete with ancillary units for the steel industry.
Stocks
BoI-Ketan Parekh for out-of-court deal
THE Bank of India and the stock broker, Mr Ketan Parekh, are working on an ``out-of-court settlement.'' At a hearing today at the Debt Recovery Tribunal (DRT), the lawyers of BoI and Mr Parekh have proposed that they may be allowed to reach an ``out of c
ourt'' settlement in a civil case filed by BoI against three firms controlled by the broker.
SEBI fiat on terminals
THE Securities and Exchange Board of India has directed stock exchanges to take action against stock brokers for misutilisation of trading terminals by giving terminals to `unregistered' sub-brokers.
Terrorism
Militancy is `good business'
IF there was some hope that the attacks on Afghanistan, putting the Taliban and their friends under immense pressure, would result in reduced militancy in the Kashmir Valley, thanks to the export of indigenous and foreign militants to the beleaguered nat
ion, the attempt on Tuesday to blow up the Air Force airport at Avantipur, near Srinagar, has proved this wrong. Kashmir remains on the agenda of the militants and the four fidayeen (suicide squad) who were killed during this incident is ample evidence.
Textiles
`Shadow' over textile bonus issue
THE drooping fortunes of the textile industry have cast a shadow on the issue of bonus for workers this time.
