The Hindu Business Line : Thursday, August 04, 2005

Bay `low' beats forecast
THE cyclonic circulation over North Bay of Bengal churned several scales overnight to settle down as a well marked `low', pre-empting the most generous forecast that gave more than 48 hours for it to go through with the motion. Originally ... More

Here comes the Sun
After a week of intermittent rains and dark clouds, the sun finally gave a glimpse atop the Vidhana Soudha on Wednesday.

NRIS

3.7 m Indians working in Gulf
The Minister of State (Independent charge) for Overseas Indian Affairs, Mr Jagdish Tytler, told the Lok Sabha on Wednesday that an estimated 3.7 million Indians are working in the various countries of the Gulf. There are several reasons for the ... More

CHEMICALS

PARRY'S PANORAMA-3

Chennai's chemical corner — an extended mall
Shop-filled streets bustling with activity, vehicles, pedestrians and roadside vendors, buildings that house businesses as old as Chennai itself... that's Parry's for you. Nyniappa (Naicken) Street near `Kandakottam,' the centuries-old Murugan ... More

ECONOMY

TN launches `equitable growth initiative' — World Bank to pitch in with expertise
THE Tamil Nadu Chief Minister, Ms J. Jayalalithaa, today launched the Tamil Nadu Equitable Growth Initiative, a consultative approach to chalk out strategies for high economic growth while addressing development issues to support the ... More

Now, young MPs ponder over the CMP
YOUNG Parliamentarians on Wednesday got together to do some serious thinking on the Common Minimum Programme (CMP) and brainstormed on issues ranging from reforms to growth to infrastructure and even the "employability of politicians." Mr ... More

FOREIGN TRADE

India to participate in `Global Village' festival in Dubai
TO promote trade and tourism with Dubai, India will participate in the annual Global Village Festival, to be hosted in Dubai from October 26, 2005 to March 3, 2006. The Global Village provides a platform for companies to display their products ... More

HEALTH

$2.5 lakh raised for children with heart ailments
HRUDAYA and Cure A Little Heart foundations, the two recently formed charities in India and the US respectively, have raised $2,50,000 to take care of children suffering from heart diseases in India. The charities are promoted by Dr Gopichand ... More

PETROLEUM

Change in govt won't affect gas policy: Iran
THE Iranian Deputy Oil Minister, Mr M.H. Nejad Hosseinian, currently in the country to carry forward discussions on the proposed Iran-Pakistan-India gas pipeline, has said the change of Government in Iran later this year was unlikely to affect ... More

Bid to achieve better refining margin — HPCL, BPCL plan to use more of cheap crude
FOLLOWING in the footsteps of IndianOil, HPCL and BPCL are planning to enhance the usage of heavy high sulphur crude to ensure better refining margin (GRM). While HPCL recently increased its consumption of heavy-sour crude from 35 per cent to ... More

PHARMACEUTICALS

Drug cos face daunting task of destroying damaged stocks
THE damp watermark on the wall, indicating the level of flooding, is the common chord of woe connecting drug manufacturers who have their warehouses at Bhiwandi on Mumbai's outskirts. Drug companies have not only lost medicines worth about Rs ... More

POWER

Centre to locate new power plants along coast — To use blended coal as feedstock
SHORTAGE of coal has forced the Centre to rethink its thermal generation strategy in favour of locating future coal-fired projects near the coastline and using a blend of imported and domestic coal as feedstock. Hitherto, the Central power ... More

Udupi Chamber hails PPA with Nagarjuna Power
THE Udupi Chamber of Commerce and Industry (UCCI) welcomed the power purchase agreement (PPA) between the Karnataka Government and Nagarjuna Power Company Ltd. Under the agreement, the company — which plans to set up a 1,015-MW thermal ... More

STEEL

Steel prices may bounce back in third quarter: Assocham
STEEL prices are expected to bounce back from the third quarter of this fiscal on the back of the US economic recovery, the large infrastructure build-up in West Asia and strong growth prospects in the Indian economy, according to the Associated ... More

TAXATION

Plea to extend service tax payment deadline
DUE to the virtual stand still of Mumbai and parts of Gujarat for the past week on account of torrential rains, the corporate sector has sought extension in the deadline for payment of service tax dues for July from August 5-20. The chamber ... More

WATER

Speed up projects to tap floodwaters: YSR
THE Chief Minister, Dr Y.S. Rajasekhara Reddy, has called for a concerted effort to complete 33 major irrigation projects, for which Rs 50,000 crore has been earmarked. Expressing concern over floodwaters discharged into the sea untapped, the ... More

RURAL DEVELOPMENT

DFID to fund more projects in AP
THE Head, Department For International Development (DFID), India, Ms Susanna Moorhead, has reaffirmed support for several programmes, including Centre for Good Governance, taken up by the State and assured a financial commitment for another £200 ... More

EVENTS

Communications meet at Hyderabad
HYDERABAD: The Public Relations Council of India (PRCI) is organising a two-day national convention on corporate communications titled `Beyond Words', beginning August 5. The meet would cover all major areas of concern for the ... More

CONSUMERISM

LPG distributor fined Rs 20,000 for failure to provide connection
A CITY-BASED LPG agency of the state-owned Bharat Petroleum Corporation has been ordered by the District Consumer Disputes Redressal Forum, Chennai (South), to pay a woman consumer punitive damages of Rs 10,000 and also a compensation of Rs ... More

INCOME TAX

PAC seeks clarity on moves to speed up I-T refunds
THE Public Accounts Committee (PAC) 2005-06 has asked the Government to clearly spell out the specific steps taken by it to expedite the issuance of income-tax refunds. In a report on `Refunds Under the Income-Tax Act, 1961' (15th report), the ... More

EXPORTS & IMPORTS

`Centre seeking sector-specific SEZ plan from Punjab'
THE Central Government is ready to grant approval if the Punjab Government comes out with a sector-specific Special Economic Zone (SEZ) in Amritsar as the State Government could not acquire 1,000 hectares for establishing a multi-product SEZ in ... More

Commerce Ministry sees 17 pc growth in exports this fiscal
THE Union Ministry of Commerce has pegged a 17 per cent increase in exports in the current fiscal. In 2004-05, India's exports stood at $80 billion. By 2009, export earnings are expected to go up to around $150 billion, according to Mr S.N. ... More

FIEO submits memorandum on `negative profits' to PM's council
THE exporting community is keen that the controversial issue of `negative profits' be settled in their favour. A Federation of Indian Export Organisation (FIEO) delegation, led by its President, Mr O.P. Garg, met the Chairman of the Prime ... More

NATURAL CALAMITIES

Communicating in a crisis
What happened in Mumbai last week was a disaster. The downpour was bad enough, but what compounded the problem was a failure to communicate the right things at the right time. More

JNPT, Mumbai port limping back to normalcy
OPERATIONS at the rain-affected Jawaharlal Nehru Port (JNPT) are limping back to normal, with rain subsiding in Mumbai. Sources in JNPT said that the outward movement of cargo, which had been disrupted due to heavy flooding last week, is being ... More

Fiat reports damage at Kurla plant due to rains
THE factory of Fiat India Pvt Ltd, located at Kurla in the city, has suffered damage during the recent heavy rains and flooding. Damage assessment is currently on and only when it is complete would the company be in a position to say when the ... More

Maharashtra: Rehab package for businessmen, farmers
THE Maharashtra Government, along with the State Level Bankers Committee (SLBC), on Wednesday announced a financial package for the rehabilitation of the flood-affected businessmen and farmers in the State. The package was announced after an ... More

Insurers apprehend bigger dent from Mumbai claims — Defaults in Fac Re arrangements seen
INUNDATED with large claims, domestic non-life insurers are faced with the prospect of meeting the settlement liabilities directly from their own balance sheets. Sources said that this was because some of the insurers have entered into ... More

Mumbai sees corporates' human face
WHILE the rains in Mumbai have created havoc with the Government estimating losses at nearly Rs 15,000 crore, corporate houses in Mumbai are reluctant to reveal their losses. Instead they believe in focussing on their CSR (corporate social ... More

Financial planners helping flood victims
TO help reconstruct the financial lives of Mumbai's flood affected, several certified financial planners have come together to offer free advice and construct contingency plans for the victims. Since setting up the help lines, they have ... More

Toyota's service offer for rain-hit vehicles
TOYOTA Kirloskar Motor (TKM) today reported that it has extended special rates to service all Toyota vehicles damaged in the heavy rains and flooding that hit the city recently. "The special service offered by Toyota dealerships in Mumbai is ... More

The day after
A ragpicker salvaging from a pile of rain-damaged household items at a garbage dump in Mumbai on Wednesday. Monsoon rains lashed the city again on Monday, pushing the death toll closer to 1,000, as the country's financial hub battled to recover ... More

ALTERNATIVE MEDICINES

Thrissur to host ayurveda meet
THE Ollur-based ayurvedic treatment centre Vaidyaratnam Oushadhasala is organising a three-day global summit on ayurveda in Thrissur from December 9 to 11. Ashtavaidyan E.T. Neelakandhan Moos, Partner, Vaidyaratnam group, said that the global ... More

STANDARDS & BENCHMARKS

ISO certification
THIRUVANANTHAPURAM: The city-based Skyline Builders has been awarded the ISO 9001:2000 quality certification. Announcing this at a press conference in the city, Mr K. Srikant, Director, Skyline Builders, said the certification has been ... More

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