Airlines
Passengers of delayed flights, cheer up
IN an effort to ensure that neither passengers nor the airport staff who have to put in additional hours of work to accommodate scheduled delayed flights are inconvenienced, the Minister for Civil Aviation, Mr. Sharad Yadav, has written to the aviation
authorities to ensure that not only are watch hours at such airports extended but that the current charges for delayed flights are also implemented.
Five bids to lease aircraft to AI
AT least five international leasing companies have put in bids with Air India (AI) to offer aircraft on lease, airline sources have said.
Automobiles
Escorts lines up models for South
TRACTORS major, Escorts Ltd, is launching three of its Powertrac brands with straight axles as derivatives for specialised wetland (rice) cultivation in the southern States of Tamil Nadu, Karnataka and Andhra Pradesh.
Banking and Finance
Lakshmi Vilas Bank net up 78% at Rs 26 crores
LAKSHMI Vilas Bank (LVB) has posted a net profit of Rs. 26.36 crores and proposed a 45 per cent dividend (subject to RBI approval) for the year ended March 2000.
Repo, reverse auctions today
THE Reserve Bank of India, under its LAF (Liquidity Adjustment Facility) scheme, has announced a one-day repo auction and reverse auction in Government of India dated securities and Treasury Bills of all maturities except 14-day Treasury Bills on Monday
for parties holding SGL account and current account with it here.
Environment
Vellore tanneries compensation case -- Eco Authority's award in two months
THE Loss of Ecology Authority will deliver in another two months its award on the compensation that tanneries need to pay for the pollution they had caused.
Excise and customs law
Excise assessment: Special provision for PSUs likely
THE Finance Ministry is likely to come up with special provisions for excise assessment of goods sold by public sector units (PSUs), while moving to the `transaction value-based excise assessment' regime from July 1.
Insurance
Fears of investigation -- Banks become wary of insurance tie-ups
FEARS over the likelihood of the central investigative agencies peeping into the functioning of the insurance sector are understood to be forcing the reworking of several joint ventures planned in this sector, involving public sector banks.
Miscellaneous
WPI may cease to be inflation scale
THE Wholesale Price Index (WPI) is likely to be ``derecognised'' as the official measure of inflation rate.
FICCI drive against grey markets
THE Federation of Indian Chambers of Commerce and Industry (FICCI) is starting a consumer awareness campaign to highlight the menace of grey markets in the consumer and organised industry.
Petroleum
Meet to discuss surplus diesel
THE Ministry of Petroleum and Natural Gas will hold a meeting on Monday to address the issue of surplus diesel resulting from a glut in the market, according to senior officials.
Pharmaceuticals
Nimesulide: Prices crash
NIMESULIDE is a pain killer that is categorised as a non-steroidal anti-inflammatory drug (NSAID) in medical terminology.
Shipping
Joint venture for transporting LNG from Qatar -- Petronet sets terms for Indian cos
PETRONET LNG Ltd has stipulated a minimum net worth of Rs. 50 crores as the eligibility criteria for Indian shipping companies to become domestic joint venture partners along with a foreign shipping line for transporting its LNG purchased fr
om Qatar's Rasgas for a period of 25 years.
States
Krishna to unveil vision document for Karnataka
A 10-YEAR vision document for Karnataka is to be unveiled by the Chief Minister, Mr. S.M. Krishna, here on Monday to coincide with the Global Investors Meet.
Plans for storm-water drainage in Guwahati
THE Chief Minister, Mr. Prafulla Kumar Mahanta, has said that the Assam Government had already undertaken the Guwahati Metropolitan Area Storm Drainage Improvement Programme in the city.
Kerala to provide Rs 6 cr to TRL
THE Kerala Government will keep the sick Travancore Rayons Ltd (TRL) at nearby Perumbavoor alive by pumping Rs. 6 crores into the unit which has an accumulated loss of Rs. 74 crores as on March 31, last.
Develop yachting resorts, task force tells Bengal
THE task force (TF) on the development of services sector in West Bengal, in its recommendations on the tourism sector, has suggested that the State Government could take a leaf out of Andhra Pradesh and develop yachting resorts similar to the one at Hus
sainsagar in Hyderabad.
Work apace on 330-MW project in TN
THE harried industrial and domestic power consumers in Tamil Nadu suffering from frequent power cuts may hope for some respite with the commissioning of the 330.5 MW power project coming up at a cost of about Rs. 1,175 crores in Pillaiperumanallur in Nag
apattinam district.
Steel
SAIL legal action against defaulters
THE Steel Authority of India Ltd (SAIL) has initiated legal proceedings against a number of its defaulting customers. It has also filed criminal suits against the directors of these defaulting companies.
Taxation
`Panel soon to revamp I-T Act'
THE Minister of State for Finance, Mr. V. Dhananjay Kumar, has said that his Ministry was in the process of setting up a committee for the restructuring of the Income-Tax Act.
