The Hindu Business Line : Thursday, January 02, 2003

Kerala Govt panel to handle UAE amnesty fallout
The sub-committee has been assigned with the task of attending to the problems of the expatriate returnees and provide them with required facilities. More

ECONOMY

More hope than realism?
"It is just possible that the next year will be different, and there is no harm in hope rising eternal in the human breast, but somehow, I rather doubt it." More

Forum calls meet to oppose globalisation
EVEN as the proponents of globalisation of economies step up their efforts to hasten the process, especially in the growing Asian economies, a forum that gives expression to those who disagree to this process is intensifying its campaign and has ... More

PETROLEUM

Diesel, petrol prices to be hiked today
AFTER a gap of one month, oil-marketing companies are expected to announce a hike in petrol and diesel prices on January 2. Mr B.K. Chaturvedi, Secretary, Ministry of Petroleum and Natural Gas, told newspersons on the sidelines of a function ... More

Gasohol will not attract additional duty: Naik
PETROL blended with ethanol, or gasohol, will not attract additional excise duties, the Union Minister of Petroleum and Natural Gas, Mr Ram Naik, said at the launch of ethanol-blended petrol here. The product was launched in nine States and four ... More

POWER

Go back to regulator on CESC issue, Centre tells Bengal
Although initially the uniform tariff rate recommended for CESC will affect no more than some 18 lakh consumers in and around the city, the issue in itself has wide ramifications for the entire country. More

Kudankulam nuclear power project ahead of schedule
The total cost of the project was Rs 13,171 crore and the Russian Government would fund 50 per cent as a soft loan. More

WBSEB posts revenue surplus
THE West Bengal State Electricity Board generated an operating surplus of Rs 22.9 crore during November 2002. In October 2002, the facility recorded a deficit of Rs 37 crore, with revenue receipts at Rs 256 crore and expenditure at Rs 293 ... More

BSES plant resumes operations — Power crisis likely to abate
RESUMPTION of operations by the BSES plant at nearby Pathalam last Friday, after remaining closed for over a year, is expected to bring some respite to the power crisis in Kerala. The power crisis had deepened in recent months due to deficient ... More

STEEL

Steel cos hike product prices
LEADING steel companies such as Tata Steel, Essar Steel, Jindal Vijayanagar Steel Ltd (JVSL) and the public sector Steel Authority of India (SAIL) have hiked prices of steel products. The increase in prices, with effect from January 1, ranged ... More

TAXATION

ICAI opposes exemption on long-term capital gains
THE Institute of Chartered Accountants of India (ICAI) has said that the Kelkar Committee's recommendation on exempting long-term capital gains on listed equity from taxation is "not advisable" as it may lead to abuse of the exemption in more ... More

TWO/THREE WHEELERS

TVS Motor 2-wheeler sales up 21% in Dec
TVS Motor Company Ltd said on Wednesday that its total two-wheeler sales grew by 21 per cent in December 2002 over December 2001. The company sold 88,682 units last month against 73,259 in December 2001. A company press release said that in the ... More

FOODS & FOOD PROCESSING

Food processing industry laws to be streamlined
THE Ministry of Food Processing Industries would be promulgating a single law soon to ease the woes of entrepreneurs, the Director of Food Processing, Mr Venkataramani, said. Addressing a one-day seminar on `Investment Opportunities in food ... More

Kinfra plans survey on investor needs
KERALA Industrial Infrastructure Development Corporation (Kinfra) proposes to conduct a demand survey among prospective investors looking to set up food processing units in the string of industrial parks set up by the corporation in different ... More

CONSULTING

Consultants to help boost food exports
THE Kerala Government has roped in the services of professional consultants to provide the roadmap for aggressively promoting food-based products in both the national and overseas markets over a period of the next three to five years. Speaking ... More

METALS

Orissa bags projects worth Rs 8,000 cr
AROUND Rs 8,000-crore worth of industrial investment is slated to mature in Orissa within the next two-and-a-half years. Most of the proposed investments are for metal-based industries and power projects, according to Mr S.P. Nanda, Principal ... More

INDUSTRY ASSOCIATIONS

Directors' insurance premium can't be treated as salary, says FICCI
THE Federation of Indian Chambers of Commerce and Industry (FICCI) has suggested that the insurance premium paid by companies to its directors and officers should not be considered as remunerations in their hands. According to FICCI, the legal ... More

SSI assn seeks task force for core sector
KASSIA has pleaded for a separate budgetary allocation for infrastructure that comprises not only land and building but also of other defined infrastructure requirements such as power, roads and other back-up support. More

KNITWEAR & HOSIERY

Garment sector seeks EPCG licence on past export basis
The licence could be issued annually. This would obviate the need for obtaining the EPCG licence with export obligation, the Tirupur Exporters Association stated in a representation to the Government. More

TRADING

Govt outlines finer aspects of FDI in trading sector
All windows available under the FDI policy for trading activity are open to a company and it can obtain prior approval to pursue trading activities under more than one mode. More

NEWSPAPERS & PUBLISHING

Magazine on economic issues

EVENTS

`Numaish' to feature over 2,500 stalls, DWCRA centre
THE 63rd All-India Industrial Exhibition, which is the flagship exposition organised by the Exhibition Society of Hyderabad, got underway with over 2,500 stalls and a centre for DWCRA women. Lady entrepreneurs and participants of the DWCRA ... More

Comfex-2003 in Hyderabad from tomorrow
THE Indian Society of Heating, Refrigerating and Air conditioning Engineers (ISHRAE) is organising here a three-day national exhibition, Comfex-2003, and seminars from January 3 to create an awareness among the people about technical advancements ... More

Hyderabad Engagements

EXPORTS & IMPORTS

Exports continue uptrend
THE country's exports continued to maintain a buoyant trend, registering a growth rate of 16 per cent in the month of November 2002 at $4,135.09 million, against $3,576 million in the corresponding month of 2001. Outpacing export growth, ... More

Cotton made-up, fabrics export in negative terrain
THE cotton textiles export basket for the quota markets has shown a cumulative 14 per cent decline in value terms during January-November 2002 with two of the three key commodities in the basket - cotton made-ups and fabrics - recording ... More

Exports post 16% growth in Nov
THE country's exports continue to maintain a buoyant trend, registering a growth rate of 16 per cent in November last at $4,135.09 million, against $3,576 million in the corresponding month of 2001. Outpacing export growth, import growth too ... More

CO-OPERATIVES

Co-op sector lines up proposals for GIM
THE co-operative sector in the State has lined up investment proposals worth Rs 2,000 crore for presentation at the two-day Global Investors' Meet (GIM) scheduled to be held on January 18-19 in Kochi, the Co-operation Minister, Mr M.V. Raghavan, ... More

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