Advertising & Marketing
Striking a divine chord
RELIGION sure sells. After scores of domestic religious channels which have flooded the drawing rooms across the country, it is now the turn of foreign ones to set shop.
`Mechanical watches more popular than quartz'
MECHANICAL watches have gained in popularity over quartz watches, in most markets around the world, according to Mr Dominique Wilde, Chief Technical Advisor, World Service Organisation of Omega Watches.
Automobiles
Daewoo starts refunding excise duty difference
KEEPING up its commitment given to customers in February this year, prior to the announcement of the Budget, Daewoo Motors India Ltd (DMIL) has started refunding customers the amount resulting out of eight per cent difference in excise duty reduction.
Banking and Finance
Primary dealers turning to retail gilts market
MORE and more primary dealers (PDs) are starting to venture into a relatively untapped market -- the retail market for Government securities.
Commodities
Bharat Diamond Bourse may go on stream by 2003-end
TOUTED as Asia's largest diamond bourse and hub of the Indian diamond industry, the Bharat Diamond Bourse, whose fate has been hanging in balance since 1992, may finally see the light of the day.
Corporate
Even after BIFR's approval -- Little progress in Dunlop asset sale
EVEN as the Dubai-based NRI, Mr M.R. Chhabria, has done precious little to create any new assets for Dunlop India Ltd (DIL) since he acquired controlling equity stake in DIL in 1984-85, Mr Chhabria is finding it difficult to sell its assets, although it
was recently allowed by BIFR to do so.
Courts
TN told to issue licences to DSQ Beverages, Golden Distilleries
THE Madras High Court has directed the Tamil Nadu Government to issue requisite licences to DSQ Beverages Ltd and Golden Distilleries to set up distillery under the Tamil Nadu Prohibition Act, according to a copy of the order.
Economy
OECD sees steps to reduce tax wedges
TAX wedges on labour in rich countries or the difference between what employers pay out in wages and social security charges and what employees take home after tax and social security deductions plus any cash benefits for which they may be eligible, coul
d be a disincentive to work.
I don't believe in laissez-faire: Maran
THE Union Minister for Commerce and Industry, Mr Murasoli Maran, has said that state has a leading role to play in economic development.
Fertilisers
RCF shuts down 2 units
RASHTRIYA Chemicals and Fertilisers Ltd had to shut down two of its plants at Trombay because of natural gas shortages over the last three days.
Information Technology
Edgar Online SECrets suspends publication
EDGAR Online SECrets, the weekly publication that provides information related to the Securities and Exchange Commission (SEC) on the Internet, has suspended its publication effective Saturday following a slowdown in the US financial markets.
H1B visas: A passport to nowhere?
INFORMATION technology consultants who come to the US on an H1B visa always buy a one-way ticket. But not any more. Many will return home in a month or two, according to Mr Xavier Augustine, President and CEO of Y-Axis.com.
Infrastructure
IRFC plans to raise Rs 3,000 cr
THE Indian Railway Finance Corporation (IRFC) is planning to raise Rs 3,000 crore from the market through a mix of options -- private placement of taxable bonds, lease financing and long-term loans from banks and financial institutions -- to part-finance
the Railways' Annual Plan for 2001-02.
Insurance
Oriental, New India retain Jindal Vijaynagar account
THE public sector insurance companies -- Oriental Insurance Company Ltd (OICL) and New India Assurance Ltd -- have managed to retain the insurance cover for Jindal Vijaynagar Steel (JVSL) Ltd.
PSU
BHEL unit to focus on R&M, co-generation
WITH not many power projects taking off as expected, the Power Sector-Southern Region (PSSR) division of the Bharat Heavy Electricals Ltd (BHEL) finds the going tough. Last year, the unit recorded a turnover and pre-tax profit of Rs 317 crore and Rs 41 c
rore respectively, as against Rs 329 crore and Rs 60 crore in the previous year.
Policy
Retirement blues of a different shade
OVER six years ago, the employees of the Life Insurance Corporation of India and the State Bank of India in Mumbai were faced with a dilemma.
States
Tax on readymade garments slashed
HYDERABAD: The State Government has reduced the rate of tax on readymade garments from the existing 8 per cent to 4 per cent bringing it on a par with the prevailing tax rates in the neighbouring States of Karnataka and Tamil Nadu.
NEEDFi posts 38 pc growth in business
DURING the financial year 2000-01, the North Eastern Development Financial Corporation Ltd (NEDFi) recorded a spectacular business growth of 38 per cent over the cumulative business of the last four years.
AP Transco bid to collect arrears
THE Transmission Corporation of Andhra Pradesh (AP Transco) has submitted a proposal to the State Government to declare electricity arrears as land revenue arrears so as to enforce the Revenue Recovery Act to collect them.
APBEA to launch campaign against privatisation
THE Assam Provincial Bank Employees' Association (APBEA) has decided to launch a State-wide campaign against the Government's `design' to privatise the public sector banks.
Fun time for them
With the summer finally arriving in the Capital, children frolicking in a pool to beat the heat.
Stocks
Few takers for SEBI chief post
THE Government has found few takers to head the capital markets regulator, the Securities and Exchange Board of India (SEBI), with four people declining the job, according to senior officials.
`Tax evasion by brokers more than estimated'
THE magnitude of tax evasion by the six brokers who are being investigated by the Income-Tax Department is much larger than the preliminary estimates made by the Central Board of Direct Taxes (CBDT), senior Government officials said.
CBI to seek extension of remand for Ketan
MR KETAN Parekh, the main accused in the pay-order scam, will be produced in court tomorrow by the Central Bureau of Investigation (CBI) for extension of remand. So will be the many others, including the Madhavpura Mercantile Co-operative Bank (MCCB) Cha
irman, Mr Ramesh Parikh.
Telecommunications
Limited mobility: DoT sees no fresh roadblocks
THE Department of Telecommunications (DoT) has been caught on the backfoot.
PGCIL draws up plans for telecom foray
POWER Grid Corporation of India Ltd (PGCIL) is entering the telecom area in a big way. Disclosing this, the Chairman and Managing Director, Mr R.P. Singh, said that the company has earmarked Rs 7,000 crore to be spent over five years for this sector.
Tyres
Decline in truck, bus tyre output continues
THE decline witnessed in truck and bus tyre production during January this year continued unabated in the next month as well, with the domestic industry registering a production level of 6.06 lakh tyres during February. This is the lowest level in all th
e 11 months of the previous fiscal for which production data are available.
