Agriculture
Normal to excess rainfall in many districts: IMD
SEVENTYTWO per cent of districts, which account for roughly 89 per cent of the country's geographical area, have received normal to excess rainfall during the first half of the current south-west monsoon season, extending from June 1 to July 31.
Automobiles
Ford plans to sell imported units after QR removal
FORD India Ltd (FIL), the subsidiary of Ford Motor Company of the US, is planning to import completely built units (CBUs) of some of its best selling passenger cars globally, for introduction in the domestic market.
TVS-Suzuki to roll out 12 new models soon
TVS-SUZUKI Ltd will roll out 12 new models over the next 18 months to rev up its market share and the company has set its business vision to market one million vehicles for the fiscal 2000-2001.
Banking and Finance
SBI to decide on rate hike soon
STATE Bank of India (SBI) is to take a final decision on raising interest rates by the end of this week or early next week, according to Mr. G.G. Vaidya, Chairman.
Dena Bank hikes PLR
THE public sector Dena Bank has taken the lead to raise the prime lending rate from 12 to 12.50 per cent per annum. Till date, banks awaited SBI to make the first move to play `follow the leader' game.
RBI move for faster cheques clearance
TECHNOLOGY finally seems to be having its effect on the Indian banking system. And for the good of the customer. If all goes well, a customer can access his funds on the day of depositing his cheque with the bank, soon.
Commodities
No MSP for coffee seeds, says Maran
THE Commerce Minister, Mr. Murasoli Maran, has virtually ruled out a minimum support price (MSP) mechanism for coffee seeds, even while giving an assurance that coffee prices would be constantly monitored by the Government to safeguard the interest of gr
owers.
Corporate
Govt approves 26 FDI proposals worth Rs. 118 cr
THE Government has cleared 26 foreign direct investment proposals envisaging FDI worth Rs. 118 crores.
Adi Godrej is new group Chairman
MR. ADI B. GODREJ is the new Chairman of the Rs. 3,500 crore-Godrej group, among India's oldest business houses and promoters of the two listed companies, Godrej Soaps Ltd and Godrej Foods Ltd.
Emery allowed to perform customs brokerage
EMERY Worldwide, the global cargo subsidiary of CNF Inc, has been granted permission to perform customs brokerage services in Chennai as a first step towards expanding the service to its import and export customers throughout India.
Economy
Japan sees scope for R&D tie-ups
THE Vice-Minister of Finance for International Affairs, Japan, Mr. H. Kuroda, has emphasised the great potential for collaboration between India and Japan in the field of research and development.
Environment
PETA waves tourism threat -- To strike at `centres of cruelty'
THE Taj Mahal, Red Fort, Tamil Nadu and Goa may soon go on the `tourism boycott map' of animal rights group PETA.
Foreign Trade
22 pc increase in leather exports
THE leather industry, which had recorded negative export growth during financial year 1999-2000, is showing signs of recovery in the early months of this year.
More Indian `presence' in Latam urged
INDIA is ``not aggressive enough'' in seizing business opportunities in the emerging markets of Latin America, according to Mr. Nestor Riveros, Minister Counsellor, Embassy of Chile, New Delhi.
Forex
RBI will monitor rupee -- Issues clarification for forex players
THE Reserve Bank of India (RBI) today made it clear to the players in the forex market that it will take further measures, if necessary, to stabilise the forex market.
One-day repo rate set higher at 8.25 pc -- Rs 4,655 cr sucked out
THE RBI today raised the one-day repo rate by 0.25 percentage points to 8.25 per cent (above the bank rate of eight per cent) in a bid to squeeze out liquidity from the system and prevent arbitrage opportunities in the forex market.
Information Technology
Task force on HRD in IT sector
THE Centre today announced a 9-member task force on Human Resources Development (HRD) in the information technology sector, with Dr. Murli Manohar Joshi, Union Minister of HRD and Science and Technology, as its Chairman.
Infosys ties up with Evolving Systems
BANGALORE: Infosys Technologies on Thursday announced that it has tied up with a software consulting and integration company, Evolving Systems. As part of the tie-up, Infosys has formed a project team within its offshore development centre to assist Evol
ving Systems in expanding its commanding lead in local number portability (LNP).
PSU
Fresh customs demand on IOC for Rs 60 cr
CUSTOMS authorities have raised a fresh demand of Rs. 68 crores on Indian Oil Corporation (IOC) for alleged duty evasion on an additional value of Rs. 196 crores.
Pharmaceuticals
NPPA revises prices of 15 formulation packs
THE National Pharmaceutical Pricing Authority (NPPA) has revised/fixed the prices of 15 formulation packs with effect from August 1.
Policy
Jute packaging order extended to Sept 30
THE Centre has decided to extend the existing reservation of jute packaging materials by two months to September 30. This is the second extension in recent times. The first extension was valid till July 31.
Power
KPTCL to avoid PPAs with liquid-based projects
The State Government has decided to discourage creation of liquid fuel-based power capacity for the time being so as to prevent the accumulation of debt in the State-owned power transmission utility, Karnataka Power Transmission Corporation Ltd (KPTCL).
States
SIMA plea for industry-friendly power policy in Andhra Pradesh
THE Southern India Mills Association (SIMA), a body representing organised textile mills in the South, has urged the Andhra Pradesh Government to evolve an industry-friendly power policy.
Builders' help sought for satellite towns
NEW DELHI: Himachal Pradesh has convened a meeting of reputed housing sector builders and entrepreneurs in New Delhi on August 4 to seek their active cooperation in setting up satellite towns in the State.
Rs 50-cr revenue loss in Karanataka due to bandh
THE two-day bandh in Karnataka has resulted in a compression of revenue receipts of about Rs. 50 crore along with a forced reduction in consumption.
Kidnap: Emissary gets in contact
THE Karnataka Government stated here on Thursday, that the Government emissary, Mr. R. Gopal, editor of Nakeeran, had established contact with the associates of the forest brigand Veerappan. Veerappan is holding matinee idol Dr. Rajkumar, a hostage along
with three others, whom he kidnapped on Sunday night, from Gajannur on the Tamil Nadu-Karnataka border.
Sugar
Govt, sugar industry meet on Aug. 9
THE Union Minister of Consumer Affairs and Public Distribution, Mr. Shanta Kumar, is scheduled to convene a crucial meeting of top sugar industry representatives and Members of Parliament on August 9 to deliberate on the implementation of the Mahajan Com
mittee report.
Telecommunications
MEN ties up with DD Sports
MODI Entertainment Network (MEN) today announced the signing of an agreement with Doordarshan to distribute and monitor Doordarshan's Sports channel, which will soon be made a pay channel.
Water Management
New water management system for Coimbatore, Erode planned
In a pioneering attempt to improve ground water availability in some of the most water deficient areas in contiguous Coimbatore and Erode districts, where water for irrigation is supplied only once in two years by turn, an `alternate sluices' system is b
eing launched shortly.
