Agriculture
Wheat export prices slashed
THE Government has reduced the export price of wheat off-loaded from the Food Corporation of India's godowns from Rs 4,300 per tonne to Rs 4,200 per tonne.
Airlines
Airlines fly full as study season begins
THE smiles are back in the airlines industry as load factors have picked up over the past few weeks. Almost all the carriers operating out of India are flying full.
Banking and Finance
Ministry to review six weak banks' working
AFTER the financial institutions, it's now the turn of `weak' banks to queue up before the top brass of the Finance Ministry to present their vital statistics.
GTB announces board changes
GLOBAL Trust Bank (GTB) has announced that the former chairman of Nabard, Dr P. Kotaiah, and the former CMD of Oriental Bank of Commerce, Mr S.K. Soni, have joined the bank's board as additional directors.
CB-CID to probe Krushi bank scam
THE Andhra Pradesh Chief Minister, Mr N. Chandrababu Naidu, on Monday directed a CB-CID inquiry into the Krushi bank scam and investigation into the whole gamut of the issues, including the functioning of cooperative banks.
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Coal
Coal imports set to cross $1-billion mark
COAL imports during the current year are all set to drain the exchequer by more than $1 billion in forex exchange, according to estimates by industry experts.
Corporate
Hindustan Coca Cola workers go on one-day fast
MORE than 100 staff of Hindustan Coca Cola Marketing Company Pvt Ltd and Coca Cola Beverages Pvt Ltd went on a one-day fast demanding recognition of the union and job assurance.
Economy
CAG disputes KVIC job generation claims
THE claims about the contribution of Khadi and Village Industries Commission (KVIC) to employment generation are not ``credible'' even as the KVIC has moved towards a greater reliance on grants from the Government and credit facilities from a consortium
of banks.
Sinha seeks support for Fiscal Responsibility Bill
FOUR months after the passage of the 2000-01 Budget, the Finance Minister, Mr Yashwant Sinha, today admitted that the situation on the fiscal front was worrisome particularly against the backdrop of the slowdown in the economy.
Food & Dairy Products
Intl food tech meet in Chennai
INTERNATIONAL Food Tech India, a seminar organised by Koln Messe International (which also holds the ANUGA international food technology show) and CIDEX Trade Fairs of Germany, will be held in Chennai between February 9-12, 2002. The event will be sponso
red by the Confederation of Indian Food Trade and Industry (CIFTI).
Foreign Trade
Dumping probe into yarn from Korea, Turkey urged
THE Designated Authority in the Commerce Ministry has recommended initiation of anti-dumping probe into imported partially-oriented yarn (POY) from the Republic of Korea and Turkey.
Exports via land customs stations -- Riders may be set for trade with Bangladesh
IN a bid to end the uncertainty over Duty Entitlement Pass Book (DEPB) linked export consignments through the land customs stations (LCS) of Mahadipur, Hilli and Chengrabandha in North Bengal (for exports to Bangladesh), the Kolkata Customs authorities,
after making a thorough study of the problem, have now veered round to the view that such exim trade may be allowed, subject to the condition that imports too have to be done from the same point of export.
Mutual Funds
UTI to revamp portfolio
UNIT Trust of India plans to change its portfolio in a manner in which it does not suffer losses, the market does not get hit and the value of UTI's holding goes up, according to its Chairman, Mr M. Damodaran.
UTI Chairman allays fears of redemption pressure
CONTRARY to apprehensions of large-scale redemptions, there has not been any redemption pressure on the UTI's flagship scheme, the US-64, according to the Unit Trust of India Chairman, Mr M. Damodaran.
PSU
Valuation of PSUs slated for divestment -- CVC refuses to comment on DoD norms
THE Central Vigilance Commission has steered clear of getting dragged into the process of finalisation of valuation norms for public sector enterprises (PSEs) slated for disinvestment by refusing to comment on the valuation methodologies forwarded to it
by the Department of Disinvestment (DoD) for vetting.
Petrochemicals
Tatas to remain with Haldia Petro, says Bengal Govt
THE Tata group will remain with the joint venture Haldia Petrochemicals Ltd (HPL), Dr Ashim Dasgupta, the West Bengal Finance Minister, has said.
Pharmaceuticals
German Remedies MD steps down
MR Manfred Knoll, Managing Director of German Remedies, today stepped down from the post and also as a director on the board of the company. Mr Knoll tendered his resignation to the Chairman, Mr H.K. Bilpodiwala, in Mumbai. The resignation takes effect f
rom August 31.
Power
`Dishonouring energy contract main issue in India' -- Ms Linda Breathitt, Commissioner, Federal Energy Regulatory Commission, USA
IT is important that monopoly industries like energy and power answer to regulating bodies if consumer interests are to be protected, according to Ms Linda Breathitt, Commissioner, Federal Energy Regulatory Commission (FERC), USA.
New model in AP to help IPPs reach early financial closure
THE recent memorandum of association entered into by the Andhra Pradesh Government, Transmission Corporation of Andhra Pradesh and financial institutions led by the Industrial Development Bank of India (IDBI) and Power Finance Corporation (PFC), has work
ed up an innovative model to bypass the escrow cover for project, thereby facilitating early financial closure.
Lanco power project becomes gas-based
THE 360-MW Kondapalli power project of the Lanco group, situated in the Kondapalli industrial estate near here, has been converted to gas.
DPC seeks to amend its plea against MERC
THE Dabhol Power Company today moved a chamber summons for amendment of its petition against the Maharashtra State Electricity Board in the Mumbai High Court.
SSI
Entrepreneurship complex foundation
THE Minister of State for Small-Scale Industries and Agro & Rural Industries, Ms Vasundhara Raje, laid the foundation stone for the proposed building complex of the National Institute for Entrepreneurship and Small Business Development (NIESBUD) at Noida
on Monday.
States
TN Budget evokes mixed response from trade
THERE has been a mixed response from the trade and industry circles here to the Tamil Nadu Budget presented by the State Minister for Finance, Mr C. Ponnurajan.
Poor fiscal management hit TN finances: White paper
IN what is a virtual indictment of the fiscal management during 1996-2001 (when the DMK was in power in Tamil Nadu), the white paper on the State's finances, tabled in the Assembly, paints a grim picture of the financial health and calls for a debate on
what needs to be done.
Karnataka fishermen to lay seige to foreign trawlers
OVER 50 fishermen's organisations in Karnataka have decided to `lay siege' to foreign trawlers along the Karnataka coast in an attempt to protect local interests from the incursions of multinational capital. The plan involves patrolling the seas and laun
ching direct attacks against foreign vessels when and where they are found.
Technology
NRSA to route imageries from foreign satellites
CORPORATE and urban-planners in India need not fret any more: they can finally access high resolution earth imageries from foreign satellites such as `Ikonos' legally.
Telecommunications
Rs 1,500 cr earmarked for infrastructure development -- Bharti to revamp mobile operations
CONSEQUENT to its successful bids for the fourth cellular licenses in eight circles, Bharti Enterprises has announced strategic restructuring of its mobile operations, even as it has earmarked an initial investment of Rs 1,500 crore for developing and b
uilding the required infrastructure.
Rs 45,397 cr worth FDI approved for telecom sector
FOREIGN direct investment (FDI) proposals worth Rs 45,397 crore have been approved for the telecom sector during the period August, 1991 to October, 2000, such proposals relating to domestic private investment in telecom sector do not need similar Govern
ment approval, the Lok Sabha was informed on Monday.
Textiles
`Textile strike impact limited to Coimbatore'
THE Southern India Mills Association (SIMA) has maintained that the textile mill workers strike in the State was restricted to Coimbatore district and only 30 per cent of Tamil Nadu's spindleage confined to the Coimbatore region were affected in the stri
ke.
Mixed response to textile workers' strike
THE indefinite strike called from Monday by the major textile trade unions to press wage demand in Tamil Nadu has received a mixed response from the textile workers in different regions.
Transport
Cess on rail tickets proposed
THE Railway Ministry has proposed to levy a per-ticket flat cess to garner an additional Rs 700 crore for the full year.
New Rail Board Chairman
Mr R.N. Malhotra will be the new Railway Board Chairman, replacing Mr Ashok Kumar who retires on August 31.
