Accountancy
ICAI `vision' puts focus on bigger market access
AFTER nearly a two-year long exercise aimed at repositioning and shaping the Indian chartered accountancy profession for the years to come, the Institute of Chartered Accountants of India (ICAI) has unveiled its vision statement that will propel the prof
ession to be among the top three in the world before the year 2010.
Advertising & Marketing
Big ad spenders cool to Olympics TV slots
AS the curtain lifts on the Sydney Olympics on September 15, TV screens facilitating live coverage of the event are likely to be in demand across the globe. Except, perhaps, in India.
Agriculture
Biotech regulations to be revamped
THE Ministry of Science and Technology will shortly announce revamped regulatory processes and fast-track clearance mechanisms for medical biotechnology products, according to Dr. V.K. Vinayak, Adviser, Department of Biotechnology.
Airlines
Emirates may bring A-3XX if it lands AI stake'
IF Emirates Airlines is successful in acquiring a stake in Air India (AI), India may see the A-3XX aircraft operating in the domestic sky in the not-to-distant future.
Indo-French aerospace meet focusses on closer contacts
A TWO-DAY interaction between the Society of Indian Aerospace Technologies (SIATI) and French Aerospace Industries Association (GIFAS) opened here on Wednesday to explore the possibility of further strengthenging co-operation between the two companies in
aerospace, aeronautics and radars.
MAS flights to Bangalore, Hyderabad permitted
IN a move aimed at creating potential assets for and enhancing the value of Air India ahead of its disinvestment, the Indian Government has given permission to Malaysian Airlines to start flights to Bangalore and Hyderabad, besides allowing it to operate
four frequencies to Mumbai, two additional frequencies to Delhi and Bangalore and one to Hyderabad each week.
Banking and Finance
MCC Finance directors held
Mr A.L. Vadivelu, Chairman, MCC Finance, and Mr Jawahar Vadivelu, Director, have been arrested by the Economic Offences Wing (EOW) - II of the Tamil Nadu Police under Sections 409 (banker deceiving others), 420 (cheating), 120 (B) (conspiracy) of the IPC
, according to a police press release. They were arrested on September 12 and remanded to 15 days judicial custody.
Corporate
`Hugely positive' event for both
THE global acquisition of J.P. Morgan by Chase Manhattan will be ``hugely positive for both the companies'' vis-a-vis their Indian operations, Mr Anil Bhalla, Managing Director and Senior Country Officer, Chase, told Business Line.
P.Nag quits Duncans, joins Bombay Dyeing
MR Prosenjit Nag, Vice-President, Duncans Goenka group, has quit the company to take over as CEO, Domestic Retail Business of Bombay Dyeing & Manufacturing Co. Ltd, Mumbai.
Soonawala made Vice-Chairman of Tata Sons
A TOP level director at the Tata Group for the last several years, Mr N. A. Soonawala, has been appointed as the non-executive Vice-Chairman of the group's main holding company, Tata Sons Ltd (TSL).
DCA withdraws 2 departmental circulars
THE Department of Company Affairs (DCA) has decided that the two departmental circulars dated February 17, 1987 and February 19, 1991, -- regarding removing the names of companies from the register of companies -- are not appropriate and, theref
ore, have been withdrawn and superceded till further orders.
Ways India CEO
WAYS India Ltd announced the appointment of Mr J. Rajagopal as its Chief Executive Officer, said a press release.
Courts
SC ruling on NSCs claims by successors of the deceased
THOUGH language and phraseology of Section 6 of the Government Savings Certificate Act, 1959 (`the Act') is different than the one used in Section 39 of the Insurance Act, yet, the effect of both the provisions is the same.
Foreign Trade
India, Croatia spot areas to drive trade
INDIA and Croatia have identified areas of further co-operation to boost bilateral trade volume, following discussions at the fifth session of the Indo-Croatian Joint Economic Committee held in Zagreb (Croatia) on September 11-12.
Indo-US dialogue to focus on investment links
THE Indo-US Commercial Dialogue being organised on September 14 in Washington D.C. will focus on strengthening bilateral trade and investment links between the two countries.
Information Technology
Microsoft, Infosys set for alliance
Microsoft Corp and Infosys Technologies are joining hands to form an alliance, marking the coming together of a global softwarw giant and a wannabe global information technology major.
Rediff invests in ICICI portals
ICICI Ltd today announced a strategic alliance with Rediff.com India Ltd for enhancing its Internet presence in the country.
Sify ties up with Landmark
SATYAM Infoway Ltd (Sify), an Internet service provider (ISP) and e-commerce company, on Wednesday announced that the bookstore at the shopping channel of its consumer portal, sify.com, now offers over 1.75 lakh books following a tie-up with Landmark, a
retailer of books.
Petroleum
IPCL, HPL discuss market sharing
THE public sector Indian Petrochemicals Corporation Ltd (IPCL) and the joint sector Haldia Petrochemicals Ltd (HPL) have begun talks on market sharing.
Reliance Petro pegs export income at Rs 3,800 cr
RELIANCE Petroleum Ltd (RPL) expects to earn Rs 3,800 crore from exports in the current fiscal, according to Mr Dhirubhai Ambani, Chairman, Reliance Petroleum Ltd. In the first quarter, the company reported export earnings of Rs 479 crore.
Power
States' power reforms `progressing'
WORLD Bank assistance of $ 1,280 million has been extended to at least four Indian States to assist their power restructuring programmes even as, overcoming initial resistance, the reforms got underway with all the major States having put in place some
programme.
States
AP push to projects in backward areas
IN order to stem the demand for a separate Telangana State in line with the recent development of creation of three new States earlier this year, the Andhra Pradesh Government has drawn up a development strategy to eliminate disparities in underdeveloped
parts of the State by expediting projects with fresh thrust.
Karnataka gives permits to De Beers, Australian major
THE country's sole producer of the yellow metal is seeking to rewrite its 100-years-plus history in the business -- this time with greater transparency, foreign investment and a proactive policy meant to be both industry and ecology friendly.
Tripura seeks IT majors' help to exploit potential
TRIPURA has sought the participation of domestic IT majors with a view to building a strong foundation for software development and IT-enabled services. Talks in this respect would soon be held with Satyam Computers and Infosys Technologies, among others
.
Karnataka seeks higher allocation from DBEL
THE Dakshin Bharat Energy Ltd (DBEL) has been asked to raise its capacity allocation to Karnataka to 700 MW. The original offer made to Karnataka State Government was for 450 MW.
Jt venture for auto cone winders in Coimbatore
A new plant for the Indo-Italian joint venture project for Savio-Veejay auto cone winders was inaugurated recently. The function was held under the auspices of Veejay Lakshmi Engineeing Works Ltd in its plant at Karimapalayam, near here.
Textile meet
CHENNAI:A national-level conference on the `Vision of textiles in the new millennium' will be organised by the Department of Textile Technology , in the city on Thursday.
Stocks
Infosys stock turns weak
CONTRARY to expectations, the announcement of the alliance with Microsoft Corporation failed to trigger positive response at the stock market. On the contrary, the Infosys stock saw a steady decline after the alliance was informed to the stock exchange.
Taxation
Book on handling I-T problems
THE Chief Commissioner of Income Tax, Calcutta, Mr T.K. Das, while releasing a book on ``How to handle Income tax problems'' (9th edition), said that all efforts by the department in the current restructuring phase would be geared towards greater tax com
pliance.
Technology
NRIs to detail GIST plan at Round Table
US-based non-resident Indians (NRIs) will make a firm proposal for setting up a global institute of science and technology (GIST) in India, during the September 15-16 `Round Table' meeting of the Indo-US S&T Forum scheduled to be held in Washington, as p
art of the Prime Minister, Mr. Atal Bihari Vajpayee's visit to the US.
Telecommunications
`Need-based technologies apt for rural telephony'
A COMBINATION of technologies, based on specific needs, will be appropriate for rural telephony, according to the Secretary, Department of Telecom Operations (DTO), Mr R.N. Goyal.
