The Hindu Business Line : Tuesday, July 03, 2007

NRIS
FCNR (B) deposit rates raised
Union Bank of India, Bank of India and State Bank of India have revised the interest rates on FCNR (B) and NRE (rupee) term deposits effective July 1, 2007. In the case of FCNR (B) deposits, the interest rate on dollar deposits of various tenures ... More

ECONOMY
The return of the debt spiral
As the world marks the completion of a decade after the 1997 financial crises, evidence mounts that global financial fragility is on the increase, argue C.P. Chandrasekhar and Jayati Ghosh. In particular, new instruments and new players in credit markets have triggered a credit spiral, increased risk and rendered such risk more systemic. More

FIIs’ net investments up Rs 7,330 cr
Inflation, interest rates are still viewed as threats More

Rising rupee slows down export growth
Non-oil imports in May record growth of 42% More

PETROLEUM
Iran pipeline project: Still many obstacles to be crossed
Chennai, July 2 News stories about IPI or Iran-Pakistan-India gas pipeline talks have been in full flow over the last few days, yet in the final analysis what we seem to be left with are only hitches and roadblocks, delays and rough patches. ... More

‘DGH figures not contrary to companies numbers’
ONGC and Gujarat State Petroleum Corporation (GSPC) said on Monday that the Directorate General of Hydrocarbons (DGH) figures for their Krishna-Godavari Basin hydrocarbon finds is not contrary to what the companies had submitted to the ... More

POWER
India, Japan to firm up plans for energy ties
TERI signs pact with Institute of Energy Economics of Japan More

Sasan project: Group of Ministers to meet again on July 24
New Delhi, July 2 A meeting of the empowered Group of Ministers (GoM) on the Sasan Ultra Mega Power Project, which met here on Monday, ended inconclusive. The next meeting of the panel, which has been mandated with adjudicating on the award of ... More

REC keen to meet States’ fund needs
Bangalore, July 2 The public sector Rural Electrification Corporation (REC) was willing to meet the funding requirements of States for meeting their rural electrification targets.Speaking to newspersons here on Monday, the REC Chairman ... More

Teething troubles for ultra mega power projects
Mundra project awaits regulatory nod More

TAXATION
China to cut tax rebates on metal products exports
Over 500 items to be affected More

Airline fuel surcharge may rise due to hike in ATF prices
The fuel surcharge levied by the domestic airline sector is likely to see an upward movement, with the state-owned oil companies raising the aviation turbine fuel or jet fuel prices by 2.86 per cent.Indications are that the aviation ... More

TYRES
Chinese move may impact tyre imports
Withdrawal of export subsidy, hike in freight charges More

EDUCATION
Commodity courses at Kunvarji Academy
Ahmedabad, July 2 The Ahmedabad-based Kunvarji Group, one of the fastest growing Commodity Future and Capital Markets Intermediary, has ventured into Financial Services Training and Education, with the inauguration of the Kunvarji Academy For ... More

TWO/THREE WHEELERS
Two-wheeler sales continue to skid
Hero Honda, Bajaj Auto take a hit; 4-wheeler sales surge More

REAL ESTATE & CONSTRUCTION
‘Realty: Scenario looks attractive only in select parts’
Kolkata, July 2 Bluestone Quantum Management Pvt Ltd, a joint venture between real estate investment and development group Bluestone Asia and Quantum Business Consulting Ltd, expects to start making more strategic investments in key Indian ... More

Construction boom in Kochi hits rooftop
Kochi, July 2 The construction boom in Kochi continues unabated despite sharp increase in the price of materials and taxes because of growing demand for flats in the city and its suburbs.The increase in materials cost and the ... More

‘North Chennai is next destination for real estate’
Many large players picking up land for commercial, residential projects More

METALS
Metal institute office-bearers
Mr G. Uma Shanker, Additional General Manager and Head, Welding Research Institute, BHEL, was elected as the Chairman of the Indian Institute of Metals, Tiruchi chapter, for the period 2007-08 at its annual general meeting held here recently. ... More

INDUSTRY ASSOCIATIONS
Set up animation parks: Assocham
More

HANDLOOM
Textile Ministry plans integrating multiple handloom schemes
Revamping aimed at bringing beneficial results to weavers More

MINERALS
GoM meeting to decide on iron ore exports issue
New Delhi, July 2 The Group of Ministers (GoM), set up to recommend changes in the National Mineral Policy, is likely to meet again next Friday to deliberate on the contentious issue of iron ore exports.Major differences had cropped up ... More

FOREIGN DIRECT INVESTMENT
Kamal Nath wants Delhi-Mumbai corridor to include MP
Japan for speeding up project implementation More

PM seeks more investments from Japanese cos
Welcoming the renewed interest among Japanese Companies for investing in India, the Prime Minister, Dr Manmohan Singh, on Monday said that he hoped that Japan would invest in more projects like the Delhi Metro and Dedicated Rail Freight ... More

INCOME TAX
Direct tax collections up 54%
The Centre’s net direct tax collections grew 54.4 per cent in the first quarter of the current fiscal to Rs 44,139 crore against Rs 28,579 crore in the same period in the previous year. While corporate tax collections grew 21.8 per cent ... More