The Hindu Business Line : Saturday, September 10, 2005

Cyclonic circulation behind Mumbai downpour
AN upper air cyclonic circulation over north Konkan and adjoining Madhya Maharashtra has been blamed for Friday's heavy downpour in Mumbai, which brought back memories of the killer drencher that hit the metropolis less than two months ago. ... More

Met warns of cloudburst in next 48 hours — Mumbaikars panic as rains lash city
The local train service, an unofficial barometer of life in Mumbai, showed the early signs of trouble. More

CEMENT

Eastern, western regions drive up cement offtake
CEMENT consumption in the eastern and western parts of the country is driving the overall consumption during the current fiscal, while the southern region has witnessed a sharp dip in cement use during the period. The fall in consumption in ... More

COURTS/LEGAL ISSUES

`Arm customs tribunal with power to award penal costs'
INDIA Inc wants the customs, excise and service tax appellate tribunal (CESTAT) to be armed with the power to award costs. At present, the tribunal does not enjoy such powers. As part of its suggestions for reducing pending cases at the CESTAT, ... More

`Judicial support essential for effective ADR system'
JUDGES need to be completely aware of the value of alternative dispute resolution (ADR), particularly mediation, and there a great need to address the fears of lawyers with regard to the efficacy of ADR. It is apparent that support from the ... More

ECONOMY

Boston Chamber of Commerce seeks `Rainy Day Fund'
THERE may be a cue in this for our apex chambers on how to tackle the negative fallout of recessionary trends faced by the Indian industry on a permanent basis, provided of course the corporates are willing to put in a little bit of extra cash ... More

PETROLEUM

Govt issues oil bonds worth Rs 5,762.8 cr
THE Government of India on Friday announced the issue of `Seven per cent Oil Companies of India Special Bonds 2012'. According to an RBI release, the bonds have been issued for liquidating outstanding claims of oil companies aggregating Rs ... More

SEBI urges Ministry to tighten disclosure norms for oil finds
OIL and gas exploration companies may no longer find it easy to make tall claims on discoveries and hydrocarbon reserves. The capital market regulator, Securities and Exchange Board of India (SEBI) has asked the Petroleum Ministry to develop a ... More

`Effect of fuel price hike minimal on Railways'
THERE will be no hike either of Railway passenger fares or of freight rates as a sequel to the recent rise in diesel and petrol prices, according to Ms Vijayalakshmi Viswanathan, Financial Commissioner of the Indian Railways. "The impact of ... More

Ad hoc approach to full-blown fuel crisis
AFTER much procrastination, the Government made a crucial decision to hike the retail price of petrol and diesel while leaving the price of kerosene and LPG intact in a bid to stem the financial haemorrhage of the oil marketing companies. This ... More

POWER

EU official upbeat on India's co-operation in nuke energy
Mr Jean said India stands to greatly benefit by participating in the Galileo project. More

TEXTILES

SIMA aligns AGM with textile top brass meeting
THE Southern India Mills Association (SIMA) has synchronised its annual general meeting (September 14) with a two-day meet of chief executive officers/managing directors of textile mills to be held on September13 and 14. Mr S.V. Arumugham, ... More

SSI

Debt revamp: SMEs get a leg up from RBI
TO improve the flow of credit to Small and Medium Enterprises (SME), the Reserve Bank of India has announced detailed guidelines to ensure the restructuring of debt of all eligible SMEs. This will be at terms that are as favourable as the ... More

EDUCATION

ISB signs up with Chinese biz school
THE Indian School of Business (ISB) has tied up with the Cheung Kong Graduate School of Business (CKGSB), Beijing for a student exchange programme. According to Professor M. Rammohan Rao, Dean, ISB, "India and China are two of the most ... More

REAL ESTATE & CONSTRUCTION

Real Estate Opportunities Fund gets first tranche
THE first tranche of the Rs 500-crore Real Estate Opportunities Fund, which has been co-promoted by the Anand Rathi group, has closed with commitments from investors who were required to put in a minimum of Rs 2 crore. Talks with prospective ... More

MANPOWER

HR mobilisation a big challenge, says Maran
THE biggest challenge in India's quest to become an economic powerhouse is mobilisation and training of human resource, said Mr Dayanidhi Maran, Union Minister of Communications and IT, here today. Delivering the presidential address at the ... More

INDUSTRY ASSOCIATIONS

Bangalore losing out on IT investments, says Chamber
STPI refutes: `More firms set up shop'
IS Bangalore losing its appeal as the preferred investment destination for technology companies? Yes, says the Bangalore Chamber of Industry and Commerce (BCIC), an apex industry body representing the interests of medium and large companies in ... More

DISINVESTMENT

BSE shortlists 10 investment bankers for divestment
THE Bombay Stock Exchange, which is set on the road towards corporatisation, has shortlisted 10 investment bankers to facilitate its divestment process. The BSE, 49 per cent of which will now be owned by brokers, is looking for sound advice ... More

WTO

India keen to achieve concrete results in WTO ministerial meet
INDIA on Friday expressed itself for achieving concrete results in the forthcoming Ministerial Conference of the World Trade Organisation in Hong Kong in order to ensure that global trade is not only free but also fair and cautioned against ... More

SOCIAL WELFARE

Emulate `hope models', Capart tells NGOs
THE Council for Advancement of People's Action and Rural Technology (Capart) has asked non-governmental organisations (NGOs) and other organisations that want to take up developmental activities in rural areas to study `hope models'. These ... More

IIM-B asked to study failure of developmental schemes
THE Social Welfare Department in Karnataka has asked the Indian Institute of Management - Bangalore (IIM-B) to study the reasons for the failure of some of the developmental schemes. It has also asked the institute to suggest solutions for ... More

INCOME TAX

There are contradictions in FBT
Tosh K. Toshniwal evaluates the latest circular from the CBDT More

Going into relationships
R. Anand discusses the issue of employer-employee links in the fringe benefit tax regime More

NATURAL CALAMITIES

Cover for Maharashtra students dents insurers, post-floods — Death claims, replacing lost textbooks, repairs to schools
The cost of textbooks replaced so far is Rs 3.11 crore. The claims of the 95 children who died would add up to Rs 47.5 lakh. At Rs 1.22 per child, the premium collected is Rs 2.44 crore. More

Nasscom offers call centre seats for Katrina relief work
THE Indian Business Process Outsourcing (BPO) industry, under the aegis of the National Associationof Software and Services Companies (Nasscom), Nasscom has written to US Department of Homeland Security offering over 1,000 call centre seats to ... More