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Saturday, December 31, 2005
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INDUSTRY & ECONOMY

CLIMATE & WEATHER


Fog alert for plains in northwest early next week
A WESTERN disturbance of moderate intensity lying over Pakistan has started moving east and is expected to start affecting northwest India from Saturday onwards. The passage of the system will leave in its wake foggy conditions over the plains ... More

ANTI-DUMPING


Dumping probe on yarn imports from China
The Designated Authority has found sufficient evidence of the normal value of the subject goods in China being significantly higher than the ex-factory export price, indicating that exporters from China are dumping partially oriented yarn in India. More

CEMENT


THE YEAR THAT WAS
Holcim entry shakes up cement industry
YEAR 2005 saw the dramatic entry of Swiss cement major Holcim into the country, changing one notion about the Indian cement industry - that it is impregnable in the main to the multinational. Of course, the French major Lafarge had a modest ... More

ECONOMY


Debt burden of rural households up 4 pc since 1991: Survey
POST liberalisation, rural India has become more indebted while urban households have been able to reduce their debt liabilities according to the findings of the National Sample Survey Organisation (NSSO). According to the NSSO figures released ... More

Current account deficit widens to $7.6 b in Q2
THE country's current account deficit has widened to $7.66 billion in the quarter ended September 30, 2005, from $3.5 billion in the corresponding quarter of the previous fiscal, according to the Reserve Bank of India. The trade deficit for ... More

External debt up at $124.3 billion
THE country's total external debt as of end-September 2005 stood at $124.3 billion, which is a 1.8 per cent increase over the external debt level of $122.10 billion at end-June 2005. However, as compared to end-March 2005, the stock of ... More

Centre for Livelihood to be formed
THE Centre for Economic and Social Studies (CESS), has firmed up plans to set up a Centre for Livelihood. It has taken up a proposal with the Ratan Tata Trust for a grant of Rs 5 core and support from both Central and State Governments. The ... More

Central fiscal deficit up 59.71 pc in April-Nov
THE fiscal deficit of the Central Government widened by 59.71 per cent during April-November 2005 to Rs 1,12, 949 crore compared to Rs 70,717 crore in the year-ago period, mainly on account of lower revenues and higher spending during the period ... More

EXCISE AND CUSTOMS


Chamber plea for rebate in excise duties in under-developed States
THE OJC Chamber of Commerce has urged the Union Finance Ministry to give a 10 per cent rebate in excise duties to industrial units located in under-developed states such as Orissa, Jharkhand and Chhattisgarh. In its pre-budget memorandum, the ... More

FOREIGN TRADE


Lankan President seeks Indian investments
THE Sri Lankan President, Mr Mahinda Rajapaksa, has invited the Indian business community to establish business ties with Sri Lanka and to take advantage of the attractive opportunities available there. Addressing a meeting attended by senior ... More

`SAFTA will boost Bengal economic development'
THOUGH West Bengal has already created an enabling environment for attracting fresh investment in industry following its investor-friendly industrial policy, the South Asian Free Trade Agreement (SAFTA), coming into effect from January 1, will ... More

PETROLEUM


IOC-IBP combine seeks location-wise freight subsidy from Government
THE IOC-IBP combine has appealed to the Ministry Of Petroleum and Natural Gas for payment of location-wise freight subsidy for supply of petrol and diesel in remote and far-flung areas. This is in line with the freight subsidy currently ... More

THE YEAR THAT WAS
Hydrocarbons sector: Rapid strides on the E&P front
In 2005, 21 oil and gas discoveries were made in India, which included 14 by private/joint venture companies, four by ONGC and three by OIL. Oil PSUs also acquired acreages/participating interests in 23 blocks in seven countries. More

Cabinet approval awaited for creation of strategic oil reserves — Expenditure panel cleared proposal in Nov
WORK on the proposed strategic crude oil reserves of five million tonnes at three locations in the country is expected to begin soon with the Ministry of Petroleum and Natural Gas planning to approach the Cabinet Committee on Economic Affairs ... More

TAXATION


1 pc of road cess to be earmarked for safety fund
THE Prime Minister's Committee of Infrastructure recently decided that 1 per cent of road cess accruing to the Central Road Fund would be used as a dedicated safety fund, said the Department of Road Transport and Highways Secretary, Mr L.K. ... More

SSI


Syndicate Bank signs MoU with SMERA
THE public sector Syndicate Bank has signed a memorandum of understanding with the SME Credit Rating Agency of India Ltd (SMERA). Speaking to reporters Syndicate Bank's Chairman and Managing Director Mr N. Kanta Kumar said, the MOU would ... More

PERSONAL PRODUCTS


THE YEAR THAT WAS
FMCGs: The return to growth
FAST moving consumer goods once again began flying off the shelves in 2005, shaking off a three-year trend of snail-paced growth. And returning growth was only part of the story. The marketplace also saw evolutionary changes — a shift ... More

RADIO/TV


14 more qualify for submitting bids for FM radio phase II
RADIO Mid-Day West (India) Private Ltd, SST Media Private Ltd and Silver Star Communication Ltd are among the 14 applicant companies that have qualified for submitting financial bids for the second phase of private FM radio. With this, the ... More

EDUCATION


AP to set up 3 new universities
THE Andhra Pradesh Cabinet today decided to establish three new universities in three regions of the State. Announcing this at a press conference today, the Chief Minister, Dr Y.S. Rajasekhara Reddy, said these would come up near Nizamabad, ... More

`B-schools must re-evaluate strategies in grooming students'
Not ruling out consolidations, co-operations and internationalisation of B-Schools in the process of coping with the dramatic and irreversible changes in business environment, Mr Satishkumar said some B-Schools had started to look at satellite resear ch centres, faculty exchange programmes, partial overseas internship for their students and the like. More

FOODS & FOOD PROCESSING


ECGC plans product to cover marine exports
EXPORT Credit Guarantee Corporation of India (ECGC) is designing a special insurance policy for seafood exporters that would cover the risk of rejection of consignments by western countries. "Often it happens that consignments are rejected ... More

REAL ESTATE & CONSTRUCTION


Upswing in Bangalore real estate sector
THE real estate industry in Bangalore enjoyed buoyancy, with the upswing in the economy resulting in a record absorption of commercial space of nine million sq.ft during 2005. The city, which only three years ago had hit a stagnant phase with ... More

PRECIOUS METALS


IOB to sell gold coins
INDIAN Overseas Bank proposes to retail gold coins, with an eye on the commission income. The bank's Chairman and Managing Director, Mr T.S. Narayanasami, estimates the income at Rs 10 crore in the first full year of the plan's ... More

FOREIGN DIRECT INVESTMENT


Panel on food processing discusses FDI in retail
THE Group of Ministers on food processing sector on Thursday discussed a host of matters relating to the sector's growth, including the issue of foreign direct investment (FDI) in retail and tax sops to be extended in the forthcoming Budget. ... More

RURAL DEVELOPMENT


SBH sets up rural institute
STATE Bank of Hyderabad (SBH) has set up a rural institute for self-employment and training at Chilkur in Ranga Reddy district. The institute was formally inaugurated by the District Collector, Mr L. Premchandra Reddy, on Friday, according to a ... More

INDUSTRIAL POLICY


Panel on Inspector Raj plumps for 3rd party inspection — `Lack of adequate staff obstacle to effective enforcement of laws'
The panel has made a pitch for an alternative of third party inspection to give an option to the enterprises to get their regulatory compliance certified by dependable third parties. More

NATURAL CALAMITIES


Tata group commits Rs 35 cr for tsunami-hit areas of TN
THE Tata Relief Committee (TRC), an organisation promoted by the Tata group for social service at times of natural disasters, is in advanced stage of rehabilitation work in the tsunami-affected areas in Tamil Nadu. At a presentation on the ... More

TOURISM


`Lake Princess' set to sail thru backwaters
`LAKE Princess', the sailing resort owned by the Kerala Shipping and Inland Navigation Corporation (KSINC), is all set to sail through the backwaters of the State in the New Year. The catamaran, refurbished by the KSINC, is to offer various ... More



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Top Stories
Current account deficit widens to $7.6 b in Q2


Debt burden of rural households up 4 pc since 1991: Survey

2005: Mega deals in ICT arena

Thanks to bull run, 161 cos move from small to mid-cap segment — `Graduation to continue in 2006 too'

Third attempt by Sterling group to sell mobile biz

Coffee rally gives sense of relief to growers

Holcim entry shakes up cement industry

FMCGs: The return to growth

In Focus

Dynamic Tirupur
Trends in IT - 2005
FDI in retail sector
Indian Aviation: Sky is the limit
India Inc's bonus bonanza
India Inc's overseas acquisition
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In Depth

Gender Justice
Simple Economics
Tax Talk
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Looking back
Dec. 18-Dec. 24
Annual info reports helping to track high value transactions: CBDT chief

Coal gasification projects — ONGC may rope in Shell as joint venture partner

India, Pak see no stumbling block in executing gas pipeline project — Confident of finalising project structure by April '06

German co in talks with Indian power firms for carbon credits

Revised draft declaration at WTO meet a positive step: India Inc

Poultry body plans floor price for egg export

India's FDI record no big deal, says Yale Prof

`WTO deal favours the rich'; Left plans stir

Port-related infrastructure: CBDT eases norms for getting tax breaks

Carbon credits trading — UN panel extends deadline for prompt start projects

Domestic concerns addressed at WTO meet: Kamal Nath

Govt will safeguard national interests at WTO, assures Minister — Hong Kong draft gives enough 'negotiating space'

Sugar mills may delay fulfilling export obligation

Large claims on account of floods — PSU insurers may trim dividend payouts

`Oil marketing cos' under-recoveries continue to rise'

Cable TV rate hike not to be enforced: TRAI

Exports decline 11 pc in November — Apr-Nov exports up 16 pc

ISRO planning for indigenous launches

`Grown-ups also need diphtheria booster vaccines'


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