INDUSTRY & ECONOMY
COURTS/LEGAL ISSUES
Only technical expert for competition panel: Govt
THE Centre today informed the Supreme Court that only a technical expert and not a judge would be the chairperson of the Competition Commission of India (CCI). The United Progressive Alliance Government thereby endorsed the stand of the ...
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ECONOMY
Plan panel made no suggestion on States' debt: Montek
THE Planning Commission has not made any recommendations to the Twelfth Finance Commission (FC) on debt restructuring or write-off of State governments debt, contrary to the view doing the rounds, the Planning Commission Deputy Chairman, Dr ...
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HEALTH
Pollution-linked illness rising in Medak, says Greenpeace
A STUDY by Greenpeace, an independent organisation that exposes global environmental problems, has revealed high rates of pollution-related illnesses like cancer, heart diseases, asthma and bronchitis caused by the release of multitude of toxins ...
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Fapcci moves to expand `defluoridation' scheme
THE Federation of Andhra Pradesh Chambers of Commerce and Industry (Fapcci) has decided to expand the defluoridation initiative taken up by it recently to Nalgonda and Khammam districts. Announcing this at the seminar on `Corporate Social ...
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INFRASTRUCTURE
Infrastructure grows 5.9 pc in September
THE official six-industry infrastructure index has registered a 5.7 per cent year-on-year growth during April-September this year, as against 5.4 per cent during the corresponding first half of 2003-04. The higher growth rate has been mainly ...
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SIDCO estate at Valliyoor may come into being
THE SIDCO Industrial Estate proposed at Valliyoor, near Tirunelveli is all set to emerge a reality at last. The estate on a 40-acre land allotted by the Government under `Namakku Naamey' scheme could not see the light for the last four years as ...
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PSU
Kerala to lobby with Centre for Keltron, Keltec takeover
THE State Government will move the Centre to take over the various units of the Kerala State Electronics Development Corporation (Keltron) as also the Kerala Hitech Industries Ltd. (Keltec) and bring them under the Ministry of Defence. The ...
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PETROLEUM
Kochi Refineries board approves merger with BPCL
KOCHI Refineries Ltd on Tuesday said its board of directors has approved merging itself with parent Bharat Petroleum Corporation Ltd. KRL has informed the Bombay Stock Exchange that its board of directors has given its in-principle approval to ...
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POWER
NTPC Kayamkulam plant remains non-operational
THE 350-mega-watt (MW) thermal power plant of the National Thermal Power Corporation (NTPC) at Kayamkulam in Kerala's Alapuzha district remains shut down for the past five months for want of takers of power. The Kerala State Electricity Board ...
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Low valuation may dash State power units' IPO plans
Absence of firm agreements also implies that the EPS mentioned is only notional, given the large overdue position of the bulk buyers to the generating companies.
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STEEL
Curbs on scrap imports put steel makers in a spot
THE restrictions imposed by the Union Government on imported scrap materials have put the steel manufacturers in the State in a spot in view of the non-availability of iron scraps required for production. The Government control comes in the ...
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TAXATION
Chambers hail Karnataka Govt move to lift special entry tax
The Government's announcement came hours after the CII had held a press meet on Monday to express the industry's resentment at the punitive tax extended to 23 items.
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VAT panel to meet on Nov 2
STATE Finance Ministers are to meet here on November 2 as part of their ongoing efforts to put in place a value added tax (VAT) regime that would replace the sales tax system from April 1, 2005. The Union Finance Minister, Mr P. Chidambaram, ...
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TEXTILES
Bonus parleys in textile mills in low key
BONUS parleys before the Deepavali festival in the region's textile-dominated industrial hub seems to be a low-key affair. The drastically scaled down working of bigger textile units in and around Coimbatore and the resultant drop in the ...
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CREDIT POLICY
RBI signals lower economic growth — Focus on demand, liquidity management to combat inflation'
THE coming months may see rising commodity prices and lower economic growth if the signals in the RBI's Mid-Term Review of the Annual Policy Statement are anything to go by. The RBI Governor, Dr Y.V. Reddy, scaled down the GDP growth ...
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Govt to go ahead with market borrowings
THE Finance Minister, Mr P. Chidambaram, today said that the Centre would go ahead with its market borrowings programme for the current fiscal, even as the cost of governmental borrowings is showing a rising trend. "We have to borrow what we ...
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Willing to wound, afraid to strike
The credit policy has laid a roadmap for RNBCs. Will all these prevent them from accepting more deposits at high interest rates?
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RBI commitment to stable rate regime welcomed
THE captains of industry have welcomed the monetary and credit policy announced today by the Reserve Bank of India (RBI) Governor, Dr Y.V. Reddy. While appreciating the RBI's commitment towards maintaining a stable interest rate regime, Mr ...
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`Need to calibrate carefully Govt market borrowings'
THE Central Government has completed nearly 50 per cent of gross market borrowings aggregating Rs 75,044 crore up to October 21, according to the mid-term review of the RBI annual policy statement for the year 2004-05. The volume of first half ...
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RBI raises risk weight on home loans
THE Reserve Bank of India has raised the risk weight that banks will have to assign on home loans to 75 per cent from 50 per cent and on consumer credit to 125 per cent from 100 per cent. . In the Mid-Term Review of the Annual Policy ...
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Mixed reactions from trade unions
EMPLOYEE unions presented mixed reactions to the credit policy, commending the Reserve Bank of India's overall stance on credit and investment growth but criticising what they said were inadequate steps to tackle inflation. The views forwarded ...
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Political economy of interest rates
THE market did the necessary (and more than that) well before the RBI got into the act. For several weeks now, bond yields have been rising sharply, with 10-year G-Secs peaking at nearly 7 per cent. Thus, the repo rate hike in Monday's ...
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RBI's mid-term policy hailed
BREWERIES
Southern guzzlers keep beer sector spirits high
THE domestic beer volume vaulted between 12 and 14 per cent during the second quarter of the current financial year, 2004-05. The figures collated from the country's leading brewers have pegged total sales for the July to September three-month ...
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RADIO/TV
More new channels lead to distribution problems
BROADCASTERS may be planning to launch new channels with increasing frequency but ensuring wide distribution has become a tricky affair. So even as the Star India readies itself for the launch of StarOne, Walt Disney brings in its new channels ...
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GEMS & JEWELLERY
Costly glitter
Gold ornaments on display at a jewellery shop in Kochi. Prices of gold surged following increase in prices of crude in the international market. The price of gold touched Rs 594 per gram in Kochi on Tuesday. ...
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INDUSTRY ASSOCIATIONS
Create more jobs instead of seeking reservations, Assocham tells Govt
THE Associated Chamber of Commerce and Industry of India (Assocham) and the Federation of Andhra Pradesh Chambers of Commerce and Industry (Fapcci) have said that the country needed to accelerate growth to create eight to ten million additional ...
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Assocham for review of penalty clause in Cos' Bill
THE Associated Chambers of Commerce and Industry of India (Assocham) has called for review of penalty Chapter, introduced in the draft Companies Bill 2004, for non-compliance of some of the provisions of the Companies Act, arguing that it confers ...
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Trade welcomes policy; concerned over inflation
TRADE and industry circles have welcomed the RBI's Mid-Term Review Policy of Annual Policy Statement. According to Mr Ashwini Kakkar, President of the Bombay Chamber of Commerce and Industry, the mild increase in the repo rate by 25 ...
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PRINTING
Heidelberg India to open print-media academy in Chennai
HEIDELBERG India, part of the German group engaged in making products for the printing process, is to open a print-media training centre in Chennai to make use of growing business opportunities in India. Heidelberger Druckmaschinen AG's Chief ...
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FOREIGN DIRECT INVESTMENT
Star wants FDI cap in media hiked to 49 pc
THE Chief Executive Officer of Star India Pvt Ltd, Mr Peter Mukerjea, has presented a case for Star to hike its equity stake in its direct-to-home (DTH) venture that has been announced in association with the Tata Group. Speaking to reporters ...
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WTO
India rules out trade-offs in WTO talks
INDIA today ruled out any trade-offs between agriculture and other areas of negotiations in the run-up to real agreements under the auspices of the World Trade Organisation (WTO) given the critical position agriculture holds in the country's ...
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INTERVIEW
We want to keep a tab on housing loan sector: Reddy
THE Reserve Bank of India has been cautioning banks to ensure quality assets in their housing portfolio. In the mid-term review of its annual policy, the central bank has hiked the risk weight for housing loans. In an interview to Business ...
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EVENTS
Business idea contest
AIMED at encouraging the rural youth in the State to come up with creative and viable business ideas that could be converted into successful dynamic micro-enterprises, Bharatiya Yuva Shakti Trust (BYST) is organising a contest called `Best ...
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Supplyco to host Ramzan fairs
THIRUVANANTHAPURAM: The Kerala State Civil Supplies Corporation (Supplyco) will organise Ramzan fairs in five cities in the State from November 5 to 13. Announcing this, an official spokesman said here that other Ramzan markets would ...
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Medical expo from Oct 30
KOTTAYAM: An All Kerala Medical Exhibition (Medex- 2004) will be held from October 30 to November 7 at the Medical College Grounds in Kottayam under the joint auspices of Medical College Students Union and Lions Club of Kottayam Elites. ...
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ENTREPRENEURSHIP
IT incubation centre inaugurated
MADURAI: The Tamil Nadu Governor, Mr P.S. Ramamohan Rao, inaugurated a Information Technology Incubation Centre (ITIC) promoted by the Centre for Entrepreneurship Development (CED) at Perungudi, near here, on Monday. Established at an ...
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EXPORTS & IMPORTS
Export demand may keep chilli prices hot
CHILLI prices are expected to remain firm in the short run on good export demand coupled with limited stocks, despite reports of good crop for the next season. "Prices are almost steady in last few days on limited local buying interest amid ...
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Exporters happy over credit policy
THE Federation of Indian Export Organisations (FIEO) has welcomed the measures announced on Tuesday by RBI for further facilitation of international trade. In a statement, the FIEO President, Mr Rafeeque Ahmed, in particular, hailed the ...
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TOURISM
It's an extended tourist season in Kerala
THE concept of tourist season is undergoing a change in the State, say industry sources. Though mid-October to mid-February is traditionally considered as the tourist season in the State, tourist arrivals are witnessed throughout the year now, ...
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`Meet in Sri Lanka' initiative launched
EYEING the growing MICE (Meeting, Incentive, Convention and Exhibition) tourism opportunity, SriLankan Airlines joined hands with Sri Lanka Convention Bureau (SLCB) to launch `Meet in Sri Lanka' initiative here on Monday. As part of this ...
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Kerala Tourism awards
THIRUVANANTHAPURAM: Kerala Tourism has invited entries for awards from organisations and individuals who have excelled in the tourism sector of the State during 2003-2004. An official spokesman said here that 32 awards would be given ...
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PEOPLE
J.J. Irani to head AAMO
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