Airlines
`Global advisor for AI sell-off soon'
THE Global Advisor to counsel the Government on the road map for disinvestment of its stake in Air India will be announced within a week's time, the Secretary, Department of Disinvestment, Mr. Pradeep Baijal, has said.
Automobiles
Truck, bus tyre production slips 4.35 pc in May
TRUCK and bus tyre production declined by 4.35 per cent during May at 6.82 lakh tyres as against 7.13 lakh tyres recorded in the same month during the previous year. Production under this category stood at 7.13 lakh tyres during April.
Coal
NLC plans mining, power expansion
THE Union government has allowed Neyveli Lignite Corporation (NLC) to develop new lignite mines and expand its own power generation capacity as to enable it to help maintain the power demand/supply balance in Tamil Nadu and, for that matter, in the south
ern region.
Corporate
Companies to be allowed to divest abroad via ADRs/GDRs
THE Government is set to carry out policy changes to allow disinvestment of shares abroad by Indian corporates to overseas investors through the American Depository Receipts (ADRs) and Global Depository Receipts (GDRs) route.
Sinha tells SMEs to get ready for competition
THE Finance Minister, Mr. Yashwant Sinha, has advised small and medium enterprises (SMEs) to gear up for competition both from within the country and outside.
Coimbatore trade fair impresses Sinha
THOUGH every dignitary who visits this textile hub is taken to the permanent trade fair complex established by the Coimbatore District Small Industries Association (CODISSIA), the visit of the Finance Minister, Mr. Yashwant Sinha, to the trade fair groun
d on Sunday was indeed a memorable one.
Economy
Rainfall `excess' in June, says IMD -- But spatial distribution remains skewed
THE country as a whole has received excess rainfall during June, the opening month of the south-west monsoon season which extends till end-September. According to the Indian Meteorological Department (IMD), the all-India area-weighted cumulative rainfall
during June 1-28 amounted to 168.7 mm, which is 11.21 per cent higher than the normal long period average (LPA) of 151.7 mm for this period.
Information Technology
Cyber search for accommodation
YOU'VE landed your first job in a big bad city that you have never visited before. Nor do you have friends or relatives to bail you out. Worry not! There's no more need to panic or desperately try to look for contacts. A dotcom promises to fix you payin
g-guest accommodation even before you step into the metropolis, wherever it may be in the country -- north, south, east or west.
Insurance
`Freeing non-life insurance tariff will take ten years'
THE Tariff Advisory Committee (TAC) for non-life insurance industry feels that it would take nearly a decade to free the sector of the existing tariff regime and usher in a completely de-tariffed insurance industry.
Miscellaneous
HC permits ICC to rebid tender
Mr. Justice Basudeva Panigrahi of Calcutta High Court has allowed the International Cricket Council (ICC) to rebid the tender for telecasting international cricket events for the next five years.
Fake currency detector
HOMETRONICS (India) Pvt Ltd has launched a range of automatic counterfeit currency detecting machines, Scantron.
PSU
Not to bid for BALCO majority stake
NALCO has ruled out the possibility of picking up a majority stake in Bharat Aluminium Company Ltd. (BALCO) which has floated a global advertisement inviting long-term strategic investors.
Petrochemicals
Refinery project -- Ruias under pressure for financial closure
THE Ruias of Essar are under pressure from ABB Lummus Crest, the EPC contractors for its 10.5-million tonne refinery project, to set a deadline for the financial closure of the project.
Policy
HC quashes notification on ESI coverage
MR. Justice Samaresh Banerjee of the Calcutta High Court has struck down the notification issued by the Employees State Insurance Corporation (ESIC) bringing employees drawing a salary of Rs. 6,500 per month under the purview of the scheme.
Politics
An independent Kashmir can't survive: Farooq
HAVING passed the autonomy resolution in the Assembly, the Jammu and Kashmir Chief Minister, Dr. Farooq Abdullah, feels the protest it has generated around the country is not warranted. In an interview to Business Line at his home in Srinagar, he said au
tonomy will be pursued within the framework of the Constitution and ruled out independence
I'll join the devil, for Kashmir's sake: Farooq
AFTER pulling off the autonomy card, the J&K Chief Minister, Dr. Farooq Abdullah, is in an upbeat mood. In an interview to Business Line, Dr. Abdullah defended his alliance with the BJP-led National Democratic Alliance, as after all, it was for the sake
of Kashmiris. Excerpts.
Power
Hiking equity component to reduce risks -- Power producers reject FI stand
POWER project promoters have informed financial institutions (FIs) that raising the equity component in power projects as part of the scheme to completely reduce credit risks on power was not possible.
States
Campaign to save Pulicat Lake ecosystem
A LOOSE coalition of environmental activists, academics, and people from Kattupalli Island have decided to start a campaign to spread awareness on the ecological and economic importance of the island and the Pulicat Lake ecosystem.
Mahanta seeks liberal bank credit for N-E developmental schemes
EXPRESSING grave concern at the inadequate flow of funds from the banking institutions to the north-eastern States, the Chief Minister, Mr. Prafulla Kumar Mahanta, called upon the bankers in the region to eschew their `play safe' modus operandi and adopt
instead a growth-oriented outlook to obviate the `extremely dismal' banking scenario.
Ten in race for Bangalore water treatment project
MAHINDRA Realty & Infrastructure Developers, Essar Projects and Rockers India, Sweden, are among the 10 who have offered for the 20 mld water recycling plant near Bangalore on BOOT basis.
Mass satyagraha to oppose power hike
VIJAYAWADA: As a part of its agitation against the power tariff hike in the State, the Congress party (the main opposition party) is resorting to ``mass satyagraha" here on July 5 in which all the party legislators and senior leaders would
participate, Mr. D. Srinivas, the party leader and a former Minister, has said.
Rajdhani Express flagged off
CALCUTTA: The new Calcutta-Rajdhani Express from Sealdah (2313 UP) to New Delhi was flagged off here by Ms. Mamata Banerjee, the Union Minister for Railways. The new train, to run via the Grand Chord, will leave Sealdah at 16.45 hrs twice a
week (every Tuesday and Saturday), and is scheduled to reach Delhi the following morning at 10.45 hrs, traversing a distance of 1,453 km in 18 hrs. On the return leg, it will depart from New Delhi at 16.45 hrs every Wednesday and Sunday, and arr
ive at Sealdah at 10.45 the morning after.
