Agriculture
Gujarat farmers into greenhouses
MOVE over Mr Pradeep Mammen and Mr J.P. Prem of the Mammen Mappillai family and the LMW group respectively. It may now be the turn of Mr Bhagwat Amin of Dholka and the mother-daughter combine of Ms Kailashben Shah and Ms Bijalben Haria of Gandhinagar to
take on the garb of the biotechnology venture capitalists. Not being of the stand-alone variety like those put up by their southern counterparts, the Gujarat ventures are more in the nature of small-time farmers taking up biotechnology projects as add-on
s to their existing farming activities.
Airlines
Alliance hopes to induct leased aircraft by Jan
DESPITE slippages in the arrival dates of its leased aircraft during December, Alliance Air is hopeful of inducting all the five leased Boeing 737-200 aircraft into its fleet by the end of January 2001.
Banking and Finance
United Bank of India offering VRS from Jan 1 to 31
UNITED Bank of India (UBI) will introduce a voluntary retirement scheme for all sections of its employees (except specialists) on January 1, 2001. Applications for VRS will be received till January 31.
LIC Housing mulls loan securitisation
LIC Housing Finance Ltd is working on another securitisation deal, under which it would sell its loan portfolio to some other agency, such as the National Housing Bank or any other financial institution.
`Banking sector shakeout imminent'
THE banking industry in the new scenario will `ultimately' consolidate itself around a limited number of `big players', according to the General Manager of Corporation Bank, Mr P.K. Alva.
SIDBI plans overseas fund
SMALL Industries Development Bank of India (SIDBI) is planning to float an overseas fund for software and IT projects.
Corporate
Only six cos get licence for packaged drinking water
ONLY six companies have so far received licences for `packaged drinking water' and none in the `natural mineral water' category. This follows the Government order for mandatory conformation to Bureau of Indian Standards (BIS) specifications for bottled d
rinking water which come into effect from March next year.
Yoghurt market on brisk churn
THE yoghurt and flavoured curd market is churning with activity, with big multinational names showing interest in the category. The buzz doing the rounds is that the Swiss foods major, Nestle India, is set to roll out flavoured yoghurt in the market shor
tly.
Hero Honda in top-10 list of Review 200
HERO Honda Motors Ltd (HHML), one of the country's largest two-wheeler manufacturers and market leader in motorcycles, has been ranked ninth for `outstanding overall performance' among the top-10 companies from India in this year's Review 200: Asia
's Leading Companies Survey.
BIS frames 2 new schemes for importers, foreign producers
THE Bureau of Indian Standards (BIS) has framed two separate schemes for granting ``certification mark'' licence to Indian importers and foreign manufacturers. This follows the recent Government directive requiring imported items to meet the quality stan
dards specifications specified by the BIS.
FICCI award for Bharat Petroleum
BHARAT Petroleum Corporation Ltd has been presented the FICCI award 1999-2000 for `Corporate initiatives in the field of rural developments'.
Fizz of discontent over Karnataka `sops' to Coke
IN the context of the plummeting prices of tender coconuts and the `crisis' affecting `indigenous' small soft drink manufacturers, a controversy is once again emerging around the various `incentives', `concessions' and `facilities' given to multi-nationa
l corporations in the era of globalisation.
Courts
APSRTC comes under State Government control: SC
THE Supreme Court has held that merely because a State Government establishes a corporation and that corporation is an establishment distinct from the State Government does not `ipso facto' mean that the corporation is not under the control of the State
Government.
Economy
Retail prices kind to urban shoppers in South
THE urban middle-class in the southern part of the country is relatively better off than his counterparts in the rest of the country, with retail prices of essential goods and services growing at much lower rates.
Foreign Trade
`Lanka a major export market'
THE free trade agreement between India and Sri Lanka would further facilitate investment and expand bilateral trade between the two countries, according to the President of the Confederation of Indian Industry (CII), Mr Arun Bharat Ram, on Saturday.
Hotels
Taj group Dubai luxury hotel launch in March likely
THE Taj Group of hotels is expanding to become the largest luxury hotel group in South Asia.
Quality Care set to buy Venkataramana Hotels
THE promoters of Venkataramana Hotels Ltd (VHL), the Hyderabad-based company that owns the star hotel Bhaskar Palace in the State Capital, are currently at an advanced stage of negotiations with the management of Quality Care India Ltd (QCIL) for the tak
eover of VHL by the latter.
Information Technology
CII for review of laws on spectrum management
WHILE the Convergence Bill will reduce segmentation in the market place, there is an urgent need to review laws governing spectrum management and licensing, the Confederation of Indian Industry (CII) has said.
Insurance
IDBI rethink on insurance head
INDUSTRIAL Development Bank of India's (IDBI) plans to enter into the life insurance business have received a jolt with the management having second thoughts on the appointment of chief executive for the new business initiative.
Mutual Funds
HDFC MF to launch tax savings plan
HDFC Mutual Fund (HDFCMF) is launching a tax savings scheme called HDFC Tax Plan-2000 structured as an equity linked savings scheme (ELSS) under Section 88 of the Income-Tax Act.
PSU
Burn Standard moots Salem mines hive-off -- Joint venture route favoured
THE management of Burn Standard Co Ltd, a public sector undertaking, is planning to hive off its magnesite mining operations at Salem in Tamil Nadu into a joint venture with the primary aim of cutting down costs.
Power
Policy on renewable energy sources on cards
A COMPREHENSIVE policy on renewable energy is in the offing. The draft, which now awaits the Cabinet nod, is expected to be passed soon, Mr K. Kannappan, Minister of State for Non-Conventional Energy Sources, said
States
Bengal cold storages seek industry status
THE West Bengal Cold Storage Association has urged the State Government to accord industry status to cold storages. The association also wants insurance companies to fix an average insurance premium for the stored goods.
Plea to form Trade, Commerce Ministry
MANGALORE: The District Small Industries Association of Mangalore has asked the State Chief Minister to establish a separate Ministry for Trade and Commerce (Business) to help `business promotion' in the State.
Infosys gesture to Mangalore police
MANGALORE: As a `small token' of its attempt to add value to the police force and a sign of its `social commitment', Infosys Technologies Ltd has donated a jeep to the Mangalore police in recognition of the harsh conditions under which policemen operate.
ELCOT drive to make Coimbatore an IT zone
COIMBATORE: In its bid to market Coimbatore as `the ideal IT destination', ELCOT has proposed to conduct `road shows' across the country and the globe soon.
Rudra appointed banking ombudsman
CALCUTTA: The RBI has appointed Mr Dipak Rudra as banking ombudsman for West Bengal and Sikkim, according to an RBI note issued here.
Karnataka launches urban, coastal growth project
TEN urban centres of coastal Karnataka are in for a dose of development with the State Government having formally launched its Karnataka Urban Development and Coastal Environment Management project.
Steel
Plan for national steel institute in Orissa
THE Joint Plant Committee (JPC) under the Steel Ministry has proposed to set up a national steel institute at or around Puri in Orissa for the benefit of both steel producers and consumers.
Taxation
PHDCCI seeks tax exemption for basic services
BASIC services catering to the public at large such as civic amenities, social services, health, education, transport and agriculture should be exempted from service tax, the PHD Chamber of Commerce and Industry, has said in its pre-Budget memorandum.
Telecommunications
Telecom profits set for extended tax holiday
AN extension of the time period for which telecom service providers can be eligible for a complete tax holiday on their profits is on the cards. The Department of Telecommunications (DoT) was set to back the industry's demand to extend the deadline beyon
d March 31, 2000, said officials.
Transport
NHAI invites RFQ for TN project on annuity basis
THE National Highways Authority of India (NHAI) has invited request for qualification (RFQ) from construction contractors and project developers for developing the Chennai (Tambaram)-Tindivanam section of NH-45 in Tamil Nadu on build, operate and transfe
r (BOT) basis under the annuity system.
Tyres
Govt urged to scrap duty reliefs on Korea tyres
THE domestic tyre industry has sought the removal of the existing import duty concessions on tyres imported from South Korea, saying that these imports are ``adversely affecting'' its interests.
