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Tuesday, April 12, 2005

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INDUSTRY & ECONOMY

EMPLOYMENT


YSR launches mass contact programme
THE Chief Minister, Dr Y.S. Rajasekhara Reddy, on Monday kicked off the State-wide mass contact programme `Prajapatham' (People's Path) at Himayatsagar in Ranga Reddy district. He launched the programme by taking part in the de-silting of the ... More

AWARDS & HONOURS


Jaeger Lecture Award for IGCAR Director
DR Baldev Raj, Director of Indira Gandhi Centre for Atomic Research (IGCAR), Kalpakkam, has been awarded the `Jaeger Lecture Award' by the International Institute of Welding and the International Standards Organisation. The International ... More

COURTS/LEGAL ISSUES


Mill owners to move SC
MUMBAI: Mill owners have filed an appeal in the Supreme Court against the Bombay High Court's interim order restraining the Bombay Municipal Corporation from approving layouts on the mill land development plan. The Supreme Court division ... More

FOREIGN TRADE


India, China aim at $20 b in bilateral trade
INDIA and China today opened a new chapter in bilateral relations, with China backing for the first time India's claim for a permanent seat in the United Nations Security Council and both sides evolving the political parameters and guiding ... More

Scope for better ties in hi-tech areas: Chinese PM
THE visiting Chinese Premier, Mr Wen Jiabao, on Monday asked India to join hands and make further endeavours to implement a long-term plan for trade and economic co-operation. Addressing the India-China Business Cooperation Conference here, Mr ... More

India, China sign pact to relax aviation linkages — Joint group moots regional trade arrangement
WHILE moving towards a Regional Trade Arrangement (RTA), India and China today entered into formal understanding to engage in a wide-ranging dialogue over the financial sector and to substantially liberalise civil aviation linkages that would ... More

Mechanism to fight quality disputes `welcome step'
THE Annual Supplement 2005 to Foreign Trade Policy has paved the way for exporters and importers of products/services to have a mechanism to fight quality disputes, and this will benefit sectors like agriculture, said Mr S.K.M. Shree Shivakumar, ... More

HOTELS


Pizza Corner in Vizag
VISAKHAPATNAM: Pizza Corner, the fast food chain, announced the opening of its outlet at Siripuram Junction here on Monday. The outlet, set up in partnership with Sailatha Foods, was inaugurated by 25 visually-impaired children from the ... More

INFRASTRUCTURE


AP to improve infrastructure for attracting investments: CM
IRKED by poor investment flows into the State in the last 15 years, the Andhra Pradesh Chief Minister, Dr Y.S. Rajasekhara Reddy, has said that the Government is working on a three-pronged approach - building quality infrastructure, ... More

PETROLEUM


Aiyar seeks investments from Chinese oil majors
INDIA on Monday sought greater collaboration between the oil majors of India and China for building greater energy security. Speaking to presspersons here, the Union Petroleum Minister, Mr Mani Shankar Aiyar, said, "There has been no separate ... More

PHARMACEUTICALS


New patent regime — Discovering new challenges
The new patent regime may augur well for the pharmaceutical sector but there are formidable challenges too. The immediate task before the industry and the policy-makers is to formulate appropriate strategies to overcome the shortcomings and derive th e full benefits from the opportunities that are likely to open up, says S. D. Naik. More

POWER


`N-power vital for economic growth'
NUCLEAR power is essential for India's continued economic growth, as fossil fuels are getting fast depleted and the increasing levels of carbon emissions are contributing to global warming, according to the Dr R. Chidambaram, Principal Scientific ... More

TAXATION


Call for service tax exemption on travel agents' forex earnings
THE Associated Chambers of Commerce and Industry of India (Assocham) has sought restoration of the Notification (No.21/2003) in the Finance Bill 2005-06 so that tour and travel operators are exempted from the payment of service tax on their ... More

`Prices to come down, post-VAT'
THIRUVANANTHAPURAM: The Commercial Taxes Commissioner, Mr V. Somasundaram, has said that the commodity process will generally look down subsequent to implementation of the value added tax (VAT) regime in the State. Reports reaching from ... More

`No shortage of life-saving drugs'
THIRUVANANTHAPURAM: The State Drugs Controller has clarified that availability of drugs has not been compromised anywhere in the State in the wake of implementation of the value added tax (VAT) regime. An official spokesman quoted him ... More

TEXTILES


Garment quota abolition — Reality check on fate of poor, quota-dependent countries
ACTUALLY there is more than enough to go around. Americans spent $255 billion on clothing in 2002. Total imports of `apparels and accessories' from the rest of the world in 2004 were less than $70 billion. However, given the concern about ... More

Pochampally silks online
THE well-known silk sarees with Pochampally brand would now be available online. Encouraged by the recent protection of the brand under the Geographical Indications (GI), the weavers are trying to aggressively market their products. Customers ... More

China likely to enter India's exclusive textile domain
THE Chairman of Textiles Export Promotion Council (Texprocil), Mr B.K. Patodia, said that he was taken up not as much by the sheer size of the Chinese manufacturing prowess as by its commercial intention. Mr Patodia shared his experience of a ... More

SIMA hails EPCG incentive proposal in trade policy
TEXTILE units availing themselves of export promotion capital goods (EPCG) will be happy with the incentive being conferred on those who meet a higher rate of export obligation fulfilment under the EPCG announced in the foreign trade policy by ... More

REAL ESTATE & CONSTRUCTION


ICICI Group forays into realty — Arm sets up dedicated fund; partners Tishman Speyer
ICICI Group plans to make a major leap into real estate development, covering both commercial and residential complexes. The group's foray into real estate development will be led by ICICI Venture Funds Management Co, a subsidiary of the ... More

DSK to celebrate silver jubilee with mega projects
THE DSK Group (D.S. Kulkarni Developers Ltd) is all set to celebrate the silver jubilee of its construction business by launching one-crore square feet (sq. ft.) construction projects. Talking to reporters, Mr D.S. Kulkarni, Founder ... More

HANDLOOM


APCO crosses Rs 100-cr mark
THE Andhra Pradesh Handloom Cooperative (APCO) has achieved a sales turnover of Rs 100.27 crore during 2004-05, up 14.6 per cent from Rs 87.49 crore the previous fiscal. The State Government has also released an amount of Rs 10 crore to APCO as ... More

EVENTS


10 Indian cos to take part in MetalAsia
MTA2005-MetalAsia will bring over 1,200 companies from 40 countries/regions to the Singapore Expo from May 10-14. The event will also host official groups from Germany, Singapore, Korea, India, Japan, Spain, the UK and Thailand looking to reach ... More

Seminar on tax awareness
MANGALORE: The Kanara Builders' Association conducted a seminar to create awareness on service tax and value-added tax in Mangalore recently. A press release by the association said here on Monday that the Assistant Commissioner of ... More

INCOME TAX


ICAI for `precise' form of fringe benefit tax
THE Institute of Chartered Accountants of India (ICAI) has favoured a "precise" form of fringe benefit tax (FBT) to the proposed "presumptive" form of taxation of fringe benefits. The institute has also recommended to the Finance ... More

NATURAL CALAMITIES


Donation to tsunami fund
HYDERABAD: The Matrix Employees Welfare Association (MEWA) Welfare Trust has contributed Rs 10 lakh to the Indian Red Cross Society for the relief of tsunami victims. The employees of Matrix Laboratories Ltd have partly contributed to ... More

TOURISM


Bengal allots more for tourism promotion
THE West Bengal Department of Tourism has hiked by 50 per cent its promotion and publicity budget for 2005-06. In the current fiscal, the State has earmarked Rs 1.05 crore for tourism promotion and its publicity. In 2004-05, the State's ... More


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Looking back
Apr. 3-Apr. 9
`VAT will lower tax burden on business'

Zee Telefilms serves notice to BCCI, seeks Rs 1,630-cr compensation

Chilli exports touch all-time high

Thermal plants' coal shortage worsening

Traditional items propel exports in April-December

Pharma MNCs likely to tighten hold on patents

50% value addition must on tea exports by EOUs, SEZs

New emission norms lead to shake-out in diesel car segment

First mapping satellite to be launched in May

Edible oil imports seen rising 5 lakh t

VAT hits live chicken exports to Kerala

Cement majors report rise in despatches

US households swell Indian exporters' kitty

Oil firms seek hike in petro prices; Cabinet to decide

Consumers' purse in for a squeeze

Vegoil imports down to 2.48 lakh tonnes in March

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On the right track to double trade, create employment

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