Agriculture
Raw wool purchases likely to slow
FOLLOWING robust growth in raw wool demand by India in the past year, its purchases of raw wool could start to slow this year as demand for its exports of apparel wool products is hit by slowing demand in key markets.
Automobiles
Ashok Leyland cabin project at Hosur
ASHOK Leyland has undertaken a Rs 140-crore project for putting up facilities at its Hosur plant for making cabins for the company's commercial vehicles.
`Siemens, VDO will make products cheaper'
FOLLOWING its recent merger with Siemens, Mannesman VDO has become Siemens VDO Automotive, a powerful global player in the sector. The company could in future direct the way business grows. The impact of the merger in India has meant that the Indian enti
ty will have an expanded product category to offer to OEMs and the after-market.
Banking and Finance
Financing at its glamourous best
Companies bank on star power to attract customers at the Intelligent Investor Personal Finance Show 2001, organised by the Outlook group, in Bangalore on Saturday.
Commodities
Craftsmanship
A traditional goldsmith busy designing ornaments at the traditional gold jewellery market in Secunderabad in Andhra Pradesh.
Corporate
BPL allots Rs 99-cr NCDs to ICICI
BPL Ltd, the consumer electronics giant, has allotted non-convertible debentures (NCD) to ICICI Ltd aggregating Rs 99 crore.
Prasar Bharati rejects all three bids for DD Metro prime slot
THE Prasar Bharati board decided to reject all the three bids received for the prime slot on DD Metro and instead begin acquiring programmes.
Pact on Grasim unit closure
AN agreement has been reached for the closure of Gwalior Rayons unit at Mavoor, near Kozhikode, and for the payment of compensation to the employees.
LT Overseas 500-tpd rice processing unit soon
LT Overseas Ltd, makers of Daawat basmati rice, is in the process of commissioning its fully automated, integrated rice processing plant in Bahalgarh, with a capacity to handle up to 500 tonnes per day (tpd) of paddy.
`No icon for entrepreneurs'
THE lack of entrepreneurial role models appears to be a distinctive barrier to entrepreneurship in India, according to almost three-fourths of the Indian respondents surveyed for an Accenture study on entrepreneurship.
Food & Dairy Products
APITCO nodal agency for food processing
THE State Government has decided to nominate the Andhra Pradesh Industrial and Technical Consultancy Organisation Ltd (APITCO) as the nodal agency for the promotion of food processing units, Mr T. Gopala Rao, Principal Secretary and Commissioner for Indu
strial Promotion, said on Saturday.
Processed food importers in quandary over rules
IMPORTERS of processed food products are in a piquant situation, as conforming to one set of regulations brings them under the purview of other regulations, resulting in levy of additional duties.
Foreign Trade
Ministry to hold talks on anti-dumping
THE Designated Authority in the Commerce Ministry is to hold parleys with the representatives of various industry associations to assess the impact of anti-dumping duties on the domestic as well as the concerned user industry.
Forex
Forex reserves up $ 117 m
FOREX reserves of the country have risen by $ 177 million to $ 43.455 billion for the week ended June 29, 2001 as compared to $ 43.278 billion in the previous week, according to the Weekly Statistical Supplement (WSS) of RBI.
Information Technology
Rate war in software industry?
THE present quarter (July-September) could easily see the beginning of a rate war in the software industry. Forget small and medium companies, even giants such as Infosys, TCS, Wipro and Satyam -- who would not budge from their proposed rates last year -
- are now climbing down and willing to ``negotiate,'' said industry sources.
Satyam Q1 results on July 11
SATYAM Computer Services Ltd will announce its first quarter results on July 11 (on the night of July 10, US Eastern Time) and they will also be available on the Web site, www.satyam.com.
Web sight
Ms Kitu Gidwani, stage and TV personality, who presented the Wills Sport's Fashion Guru website (www.willsport.com) in Hyderabad on Saturday.
Mutual Funds
UTI sounds SEBI on stock exchange route
THE Unit Trust of India (UTI), in a bid to offer an exit route to US-64 investors, has approached the Securities and Exchange Board of India (SEBI) to allow retail investors to unload their units through the stock exchange route.
First deal struck at Rs 10.50
IN a proactive move, the Delhi Stock Exchange (DSE) has come up with an innovative exit route for US-64 investors by opening a separate window in its equity section for physical trading in US-64 units.
`Take stock of the market en route to US-64 bail-out'
THE success of the decision of the top brass of the UTI to formulate a scheme to provide an exit route to small investors, hit by the move to freeze the sale and repurchase of units under US-64, hinges on a host of factors, according to market analysts.
PSU
Divestment : Norms on further bidding soon
THE guidelines for disqualification of bidders and advisors from taking any further part in the disinvestment of Government enterprises is likely to be released within the next day or two.
VSNL sell-off: Secys' panel to take decision on Credit Suisse
THE Cabinet Committee on Disinvestment has empowered the Committee of Secretaries (CoS) headed by the Cabinet Secretary to take a final decision on whether Credit Suisse First Boston (CSFB) can be a global advisor for the proposed disinvestment of Govern
ment stake in Videsh Sanchar Nigam Ltd (VSNL).
Power
Rs 500-cr ICICI loan to KPTCL sans guarantees
ICICI has sanctioned a Rs 500-crore loan to Karnataka Power Transmission Corporation Ltd (KPTCL) without any State Government guarantees.
Shipping
Finance Ministry not in favour of tax reliefs to shipping cos
THE Finance Ministry is not in favour of granting tax reliefs to shipping companies.
Telecommunications
Asianet goes global with news channel
ASIANET Communications Ltd, promoters of the premier Malayalam entertainment channel, has launched Asianet Global, the first 24-hour news and current affairs channel and the second from the stable.
Travel & Places
Kempinski adds ayurvedic flavour to resorts
THE Kempinski Group of Palace Hotels and Resorts has decided to set up ayurvedic rejuvenation centres at all its properties worldwide.
