Airlines
Thrice-weekly Bangalore-Frankfurt service from Sept -- Lufthansa introductory fare soon
THE German airlines, Lufthansa, which is to launch a thrice-weekly Bangalore-Frankfurt service from September this year, will announce an introductory fare for the sector by August 1.
VVIPs, get set for a new jet
IS the Government planning on acquiring new aircraft to transport VVIPs?
Corporate
CII council to meet in Chennai
THE CII National Council, governing body of the confederation, will meet here on Friday.
Economy
Sinha to meet bank, FI chiefs on Friday -- To discuss banks' market exposure, slowdown
CAPITAL market exposure of public sector banks would come under close scrutiny of the Finance Minister, Mr Yashwant Sinha, during his meeting with the Chief Executives of the Government-owned banks on Friday.
`Scrap subsidies not serving social good'
THE former Union Finance Minister and Rajya Sabha Member, Dr Manmohan Singh, has said resorting to fiscal correction through reduction in public expenditure was no longer feasible in the country.
Financial Performance
Satyam Q1 net up 141 pc
SATYAM Computer Services Ltd has recorded a net profit of Rs 121.46 crore and a total income of Rs 421.02 crore during the first quarter, reflecting an increase of 141.13 per cent and 74.9 per cent over the corresponding period of the previous year.
Foreign Trade
CII sees scope for more trade with Pak
THERE is tremendous opportunity for Pakistan to source its present requirement of raw materials, intermediate goods and components from India in a cost-effective manner, the Confederation of Indian Industry (CII) has said.
Information Technology
CMC staff rope in Schroder to bid for Govt stake
THE employees of CMC Ltd have roped in Schroder Capital Partners, a venture capital company, to make a joint bid for the Government's 57.31 per cent stake in the public sector infotech major.
Security audit a must for digital signatures: Vittal
THE Central Vigilance Commissioner, Mr N. Vittal, today advocated a three-pronged approach for ensuring safety and security of digital signatures through fool-proof in-house security systems, security audit and punitive powers to the regulator to bring h
ackers to book.
Mutual Funds
US-64 package may be firmed up today
THE UTI management is expected to firm up details of a package for the beleaguered investors of US-64 at a meeting with Finance Ministry officials to be held on Thursday.
Vassal sets off austerity drive
IT is austerity time at the Unit Trust of India (UTI). The mutual fund major has decided to observe austerity measures in day-to-day activities to provide better returns to unitholders and regain their trust.
Hard work at UTI
MUMBAI: The employees and trustees are working overtime at Unit Trust of India (UTI). The urgency is to prepare a workable solution (for US-64 investors) by the end of the week which is satisfactory to the investors as well as the Ministry of Finance (Mo
F).
`Bring MFs under SEBI purview'
DR Manmohan Singh, former Finance Minister and Congress (I) MP, has said that all mutual fund business, including the Unit Trust of India (UTI), must be brought under the regulatory purview of the Securities and Exchange Board of India (SEBI) as a measur
e to protect the interests of the small investors.
Prudential ICICI plans for children
PRUDENTIAL ICICI Mutual Fund is coming out with an Open Ended Prudential ICICI Child Care Plan.
Politics
The Agra rendezvous
IRRESPECTIVE of whoever may have been the mediator for the Vajpayee-Musharraf summit -- the much-hyped meeting during July 15-16 to end the strife and tension in the sub-continent -- all eyes are now focussed with cautious optimism at Agra, the venue of
what may well be the historic meeting of the century between two heads of state.
Power
Judicial probe into Enron issue
THE Maharashtra Government has decided to order a judicial inquiry into the Enron issue. The Chief Minister, Mr Vilasrao Deshmukh, today announced the decision after a meeting of the co-ordination committee of the Democratic Front Government.
Enron looks to Centre for early end to row
THE Chairman of Enron Corporation, Mr Kenneth Lay, had little to say today on where matters were headed, even after the chain of meetings he had with Government officials, politicians and lenders to the Dabhol power project in the past couple of days.
States
Bengal cautions investors on `jobs for locals' politics
THE West Bengal Industry Minister, Mr Nirupam Sen, has urged investors not to succumb to political pressures on the issue of providing employment to the ``sons of the soil''. ``Employment is the prerogative of the employer'', he said while addressing a s
eminar on ``Problems and Prospects of Industrialisation in West Bengal'', organised by the Bengal National Chamber of Commerce and Industry (BNCCI) earlier this week.
Jewellery show in Hyderabad
HYDERABAD: Jewels 2001 India, an exhibition of exquisite creations of jewellery in diamonds, platinum, gold, silver, gems and pearls, will be held here for four days from July 13.
Karnataka mega core projects to get more sops
MEGA infrastructure projects coming up in Karnataka are slated to get a bounty in the form of exemption from urban levies and cesses under a forthcoming amendment to the Karnataka Town & Country Planning Act, 1961.
`ABT system could have averted NTPC-Bengal row'
HAD the availability-based tariff (ABT) system been in place, it would have, in all probability, prevented the sort of situation that arose on July 9, when the eastern region found itself on the verge of a grid collapse.
Stocks
It is too premature to comment on inquiry: JPC
THE Reserve Bank of India (RBI) has not implemented some of the recommendations made by the previous joint parliamentary committee (JPC) looking into 1992 securities scam, the current JPC Chairman, Mr Prakash Mani Tripathi, has said. JPC, probing the rec
ent stock market crisis involving broker Ketan Parekh, today met the officials of the RBI and the National Stock Exchange (NSE).
SC affirms 1-yr RI for Hiten Dalal
THE Supreme Court on Wednesday affirmed the judgement of the Special Court in a 1992 securities scam-related case under which Mr Hiten Dalal, one of the prime accused, was sentenced to one-year rigorous imprisonment with a fine of Rs 1 lakh.
JPC takes critical view of SEBI's regulatory role
THE Joint Parliamentary Committee (JPC), investigating the stock market scam, appears to have taken a critical view of the Securities and Exchange Board of India's regulatory role in the capital market.
Brokers up in arms over turnover tax issue
THE issue of turnover tax on stock brokers continues to haunt the markets and this time, threatens the likely closure of markets. The stockbroking community is up in arms, thanks to dwindling trading volumes and falling brokerage rates over the last few
months.
Taxation
Sinha urges Revenue Dept to meet tax collection target
THE Finance Minister, Mr Yashwant Sinha, on Wednesday said the Revenue Department would have to ``deliver'' to ensure that the total tax collections are on course to meet the revised estimates (RE) this fiscal.
Telecommunications
Bharti tops bidders for fourth cell licence
BHARTI Cellular Ltd leads the contenders for fourth cellular licences, with a Rs 722.48-crore bid for 11 circles in the first stage of bidding, which opened on Wednesday.
Agrani project launch delayed
WORK on the Rs 1,160-crore satellite project of Agrani Satellite Services Ltd (ASSL) is yet to commence as the project is awaiting financial closure as well as US presidential waiver on import of satellite components.
