Airlines
IHCL to be part of Tata's bidding consortia for AI
THE Rs 618.42-crore Indian Hotels Company Ltd (IHCL), which runs the Taj Group of hotels, will be part of the Tata interest partnering Singapore International Airlines (SIA) in a consortium bidding for Air India.
Virgin third code-share flight unlikely now
VIRGIN Atlantic Airlines (VAA) will have to wait a bit longer for final clearance from Air India to commence the third code-share flight on the India-London sector.
Banking and Finance
IDBI going for big HRD overhaul
THE Industrial Development Bank of India (IDBI) is finally waking up to the call of the competition and has set the ball rolling for massive organisational overhaul.
Weak banks package to cost Rs 3,500 cr
THE restructuring package for the three weak public sector banks would cost the Government Rs 3,500 crore. The package, which has already been finalised and is expected to be cleared soon, would be initially restricted only to recapitalisation support an
d for providing subsidy for the voluntary retirement schemes (VRS).
Corporate
Reliance close to deal for JCT's fibre unit
THE Reliance group is close to finalising a deal to buy out JCT's fibre unit at Hoshiarpur in Punjab. The financial institutions (FIs) are meeting this week to finalise the modalities of the transfer of liabilities of the Thapar group company to Reliance
, officials told Business Line today.
`Canada prefers software, hospitality professionals'
SOFTWARE engineers and hospitality industry professionals are particularly welcomed as immigrants to Canada, according to Mr Anoo Lal, President of Alliance (AL) Canada Inc, an organisation that offers services to those who wish to immigrate to Canada, A
ustralia and New Zealand.
Mallya's team gets bank a/c rights
THE Vijay Mallya-led Indian Premier Football Association (IPFA) has received the right to operate the bank account of the National Football League along with six representatives in the committee.
TIDCO, US co sign pact for biotechnology projects
THE Tamil Nadu Industrial Development Corporation (TIDCO) and the US-based Genome Technologies, LLC (GTL) have signed an MoU for setting up a Rs 450 crore project for bio-genomics and bioinformatics in Chennai.
Courts
SC rules in favour of insurance claimant
IN a significant judgment, the Supreme Court has held that a contract of insurance, being a contract of utmost good faith, the conditions of the insurance should be made clear to the insured before the policy is issued to him.
CEGAT bench in Bangalore
THE Customs Excise and Gold (Control) Appellate Tribunal has constituted an additional Southern Bench at Bangalore with jurisdiction over the States of Karnataka, Kerala and the Mahe Commune of the Union Territory of Pondicherry and Union Territory of La
kshadweep.
Economy
Current account deficit to touch 1.9 pc: Sinha
INDIA'S current account deficit is expected to be close to 1.9 per cent of its gross domestic product (GDP) during the current financial year, due to the burgeoning oil bill, the Finance Minister, Mr Yashwant Sinha, said today.
Globalisation at our pace: PM
THE Prime Minister, Mr Atal Bihari Vajpayee, has asserted that external liberalisation of the economy would be implemented ``in a manner and at a pace that is consistent with our national needs.''
Environment
AP to promulgate ordinance for nature conservation
THE Andhra Pradesh State Cabinet, while clearing a new infrastructure policy, has approved promulgation of State Water, Land, and Trees Ordinance, aimed at conservation of natural resources.
Financial Performance
Shaw Wallace net, turnover slips
SHAW Wallace & Company has announced a net profit of Rs 4.42 crore on a turnover of Rs 772 crore for the year 1999-2000 against Rs 26.33 crore and Rs 829 crore respectively in the previous accounting year.
Health
Coke, Pepsi face coconut water revolution
IN an interesting offshoot of the `boycott palm oil' drive in some districts of North Kerala, over 4,000 college students in this town in Kozhikode district are now saying ``No thank you'' to Coke, Pepsi and other bottled drinks.
Infrastructure
656 km of NH-2 to be concretised
THE pressure mounted by the cement industry lobby for concretisation of highways appears to be on the winning track.
AP to frame infrastructure policy with risk-sharing mechanism
IN an effort to reach out investors and attract infrastructure projects to Andhra Pradesh, the State Government on Monday approved a pro-active infrastructure policy and a Draft Infrastructure Act to facilitate one-stop clearance for faster implementatio
n while providing for `bankable risk-sharing mechanism.'
Insurance
SBI locks in GE Caps for insurance foray
STATE Bank of India has zeroed in on GE Caps as its partner for the insurance business. Officials said that the bank is expected to make an announcement in this regard shortly.
Power
Almatti project -- Karnataka may make peace with Chamundi Power
THE Karnataka Government is likely to pursue a compromise formula with the Chamundi Power Corporation Ltd (CPCL) for the implementation of the 297 MW Almatti power project.
States
Kerala Govt health policy suggests charter for patients
THE draft health policy of the Kerala Government, released here on Monday, has suggested the drawing up of a charter for patients.
TN lorry owners decide not to overload trucks
THE State Lorry Owners' Federation (SLOF), Tamil Nadu, has decided not to overload trucks beyond their stipulated capacity.
Steel
Seconds steel imports only through 3 ports
THE Government has tightened the screws on the influx of `seconds' and defective steel products into the country by restricting their import only through the designated ports of Mumbai, Chennai and Calcutta.
Stocks
Nasdaq sees 25 Indian cos listed on it next year
NASDAQ expects a number of Indian corporates to be listed on it during 2001. The exchange has a list of 65 companies, which have expressed their interest in getting a berth on it in the not-so-distant future. Currently, only three companies - Infy, Sify
and Rediff.com - are listed on it.
Taxation
CBDT advisory panel recast
THE Government has reconstituted the Central Board of Direct Taxes (CBDT) advisory committee with the Finance Minister as the Chairman.
Textiles
TN textile workers propose rally demanding wage revision
AFTER two years of silence, the textile workers trade unions are likely to flux their muscle in the coming months over the issue of revision in the wages for the textile workers in Tamil Nadu.
Transport
Assocham wants Rlys to improve productivity
THE Associated Chambers of Commerce and Industry of India (Assocham) has called for immediate measures to improve the productivity of existing rail assets through modern management systems, improved maintenance and technology upgradation.
Travel & Places
Luxury liner on maiden voyage
MAGIC and can-can dancers were on call here today, to celebrate the Ocean Majesty's maiden voyage for the newly set-up Indian Ocean Cruise Line Ltd, opening up the unexplored cruise market in the Indian Ocean.
