Airlines
Capacity boost -- Bilateral air talks with Malaysia, UAE
THE Ministry of Civil Aviation is to hold a series of bilateral air services talks with several Scandinavian countries, Malaysia, the UAE among others within the next few weeks to increase air capacity between India and these countries.
Chambers welcome AI divestment
THE apex chambers of commerce and industry have welcomed the Government's decision to divest up to 60 per cent of its stake in Air India.
Banking and Finance
Insurance body allows pvt cos' registration
THE Insurance Regulatory and Development Authority (IRDA) has permitted the Registrar of Companies (RoCs) to register names of private sector companies wishing to enter the insurance sector.
Corporate
Aurobindo Pharma net up 49 pc, to pay Rs 5
AUROBINDO Pharma Ltd (APL), the largest manufacturer of semi-synthetic penicillins in the country, has registered a growth of 34.52 per cent in turnover, 48.75 per cent in operating profit and 48.78 per cent in post-tax profit for the year ended March 31
, 2000. It has registered an operating profit margin of 15.26 per cent for the year as against 13.8 per cent in the previous year.
CLB Bench at Chennai may be operational in July
THE proposed additional Principal Bench of the Company Law Board (CLB) in Chennai is likely to become operational from July first week, according to the Department of Company Affairs (DCA).
Corporate sector upbeat on outlook -- CII business survey reaffirms feel-good factor
THE ``feel good'' factor in the Indian industry is likely to continue for another six months at least, with the interim report of a survey conducted by the Confederation of Indian Industry (CII) indicating that business confidence continues to be on the
rise.
Funds lined up for Rs 26-cr rechargeable battery project
A CONSORTIUM of three top financial institutions -- IDBI, UTI, ICICI -- and the Technology Development Board (TDB) have decided to back, with equity and loans up to 90 per cent, a Rs. 26.5-crore venture to manufacture advanced rechargeable batteri
es of the Chandigarh-based Twenty First Century Battery Ltd and the National Research Development Corporation (NRDC).
Miscellaneous
Plan panel for clipping Central schemes
AS part of its ambitious agenda to reorient the very planning process itself and restructure its organisational set-up, the Planning Commission has plumped for pruning a plethora of Central and Centrally-Sponsored Schemes (CSS) to rationalising them.
Swiss delegation for India Chem
THE Swiss Government is likely to send a delegation to India to attend the three-day India Chem 2000 to be held here on October 6.
FICCI call to enforce joint venture pacts
THE Federation of Indian Chambers of Commerce and Industry (FICCI) has said that in order to restore confidence among joint venture partners about the sanctity of contracts they have entered into, the provisions contained in the Articles of Association s
hould be made enforceable under Indian law.
Mutual Funds
3 UTI schemes to be SEBI-compliant
THREE of Unit Trust of India's (UTI) old schemes will soon take on a new avatar. The schemes, which were launched before the Securities and Exchange Board of India and its mutual funds regulations were framed, are being converted to bring them in conform
ity to the SEBI regulations.
Templeton Mutual Fund dividends
TEMPLETON Mutual Fund has declared a tax-free dividend of 20 paise per unit of Rs. 10 under the dividend plan of Templeton India Income Fund and 22.5 paise (2.25 per cent) per unit under the dividend plan of the Templeton India Government Securities Fund
for the period ending May 24, 2000. The dividend is paid out for a period of 70 days for both TIIF and TGSF.
Plantations
Naidu assures help to farmers on tobacco issue
THE Telugu Desam Government is doing its best to find a solution to the tobacco crisis in Andhra Pradesh and no effort will be spared to help the cause of the farmers, the Chief Minister, Mr. N. Chandrababu Naidu, has said.
Policy
Software parks, export units can take up trading
THE Finance Ministry has permitted units set up in software technology parks, electronic hardware technology parks (EHTP), export-oriented units (EOU) and export processing zones (EPZ) to undertake trading activities.
Commerce, steel, power get new secretaries
CLOSE on the heels of a minor reshuffle of the Union Cabinet on Saturday, the Government tonight announced a major reshuffle of bureaucrats involving changes in several departments including commerce, steel, coal and power.
Fixed $-denominated dutyimposed on SBR imports
THE Finance Ministry has retracted from its earlier decision to impose a variable dollar-denominated definitive anti-dumping duty on Styrene Butadiene Rubber (SBR) from the US, Taiwan, Turkey, South Korea and Japan.
Politics
Sinha decries `smear bid by vested interests'
THE pressures being mounted against the BJP-led Government for the economic policies pursued by it and manifest partly in the allegations against the Finance Minister on the issue of tax treatment to Mauritius-based foreign institutional investors (FIIs)
has forced Mr. Yashwant Sinha to go public to hit out against his detractors.
Power
Rlys for autonomous power corporation
THE Railway Ministry is mulling the idea of an autonomous Indian Railway Power Corporation (IRPC) as a canalising agency for procurement of power, besides raising funds for foray into the power sector.
Mangalore power project hits another hurdle -- EPC contractors seek security package
IMPLEMENTATION of the fast track 1000 MW in Mangalore, has hit yet another speed-breaker with the engineering, procurement and construction (EPC) contractors now insisting on a new security package.
States
Karnataka set to award first minor port project
THE Karnataka Government is said to be close to a decision on awarding its first minor port project to be developed on BOST basis.
Kerala single-window clearance from June
A REVOLUTIONARY change would take place in the industrial scenario of Kerala with the commencement of single window clearance system for investors from June 1, according to Mr. Mohandas, Principal Secretary, Industries, Kerala Government.
Steel
Govt move to block inflow of `seconds' steel
THE Government has decided to tighten the screws on imports of `seconds' and defective hot rolled (HR) steel products, tinplates and electrical sheets.
Stocks
Ministry for steps against rigging
THE Finance Ministry has taken up with the Securities and Exchange Board of India (SEBI) the issue of preventing rampant rigging of stock prices.
