Business Line articles from August 2011

Business Line archives from August 2011

New Pension System: Ensure minimum returns, Parliament panel tells Govt.
August 31, 2011... Byline: Our Bureau A Parliamentary Panel has asked the Government to devise a mechanism to ensure a minimum assured/guaranteed return to subscribers of New Pension System (NPS). In the absence of such a guarantee/assurance, the NPS cannot...

Low arrivals keep wheat range-bound.
August 31, 2011... Byline: Our Correspondent As arrivals from Uttar Pradesh were low along with demand from traders, wheat prices on Tuesday ruled steady at Rs 1,090-1,100 a quintal. Following low arrivals and sluggish domestic demand, wheat prices were...

Consumer price index for industrial workers eases in July.
August 31, 2011... Byline: a Our Bureau Inflation based on the consumer price index (CPI) for industrial workers rose 8.43 per cent in July, marginally lower than June's annual rise of 8.62 per cent. This was largely as food inflation at the consumer level...

K Line boosts presence in eastern India.
August 31, 2011... Byline: Santanu Sanyal Deal with Thai service covers ports of Vizag, Chennai To enhance its presence in eastern India, K Line, the Japanese shipping major, has entered into slot chartering arrangement with NYK-led TCX (Thailand- East...

Banks to go on strike if Govt introduces Amendment Bill on new licences.
August 31, 2011... Byline: Our Bureau The United Forum of Bank Unions (UFBU) plans to go on a flash strike if the Government introduces the Banking Laws (Amendment) Bill in Parliament. UFBU is opposed to the Bill, which will also pave the way for issue of...

CBI seeks State's help in ongoing Jagan case.
August 31, 2011... Byline: Our Bureau The Central Bureau of Investigation today sought the co-operation of the Andhra Pradesh Government and various departments in completing the ongoing enquiry into disproportionate assets case of Mr Y.S.Jaganmohan Reddy,...

Agro Industries Corporation launches farm labour bank.
August 31, 2011... Byline: Our Bureau The Kerala Agro Industries Corporation (KAIC) has launched a amechanised labour bank' (Agro Labour Force) to address the dwindling number of work force in the State's farm sector. The State has been witnessing a...

Fashion's 7-day extravaganza.
August 31, 2011... Festive fervour. Bridal blushes. Techno trends. Ravishing resort. The Winter Festive 2011 edition of Lakme Fashion Week was an interesting style puzzle to put together. What goes into your wardrobe and what goes out? TEAM SMARTBUY lets you in on...

Govt approves 5% stake sale in BHEL.
August 31, 2011... Byline: Our Bureau The Government has cleared a proposal for divesting a portion of its stake in state-owned Bharat Heavy Electricals Ltd (BHEL). It will disinvest 5 per cent paid-up equity, out of its share holding of 67.72 per cent,...

Coconut oil eases as demand ebbs.
August 31, 2011... Byline: C. J. Punnathara Having built up sufficient stocks ahead of Onam, the demand from stockists and retail packing companies has begun to ebb at Kerala's wholesale markets and coconut oil prices have begun to ease. Prices dropped from...

DLF pulled up by competition panel again.
August 31, 2011... Byline: Our Bureau Real estate major DLF has been again pulled up by the competition watchdog, Competition Commission of India, for unfair practices in a Gurgaon housing project. The Commission passed aoecease and desist ordersa on DLF for...

Multi Screen Media eyes music, sports channels.
August 31, 2011... Byline: Purvita Chatterjee KBC boost helps Sony hit No. 2 slot in Hindi GEC space After getting a boost in gross rating points courtesy the fifth season of Kaun Banega Crorepati, Multi Screen Media, the owner of channels like Sony and MAX...

Agriculture lending will be a achallenge' for foreign banks.
August 31, 2011... Byline: Priya Nair & K. Ram Kumar Notwithstanding the prospect of being accorded anational treatment' when it comes to opening branches, agriculture lending could prove a daunting task for foreign banks should the central bank ask them to...

Kanan Devan's noble initiative.(Disease/Disorder overview)
August 31, 2011... Byline: Our Bureau Kanan Devan, the heritage tea brand in Kerala, in association with Regional Cancer Centre, Thiruvananthapuram, has undertaken a noble initiative to fight cancer. The initiative focuses on contributing Re1 each from the sale...

Taking to Pakistan the cure to cerebral palsy.
August 31, 2011... Byline: M. Somasekhar Pak surgeons getting trained in Hyderabad About 20 years ago, a surgical procedure to set right cerebral palsy, which affects children, debilitating their limbs, was introduced in India, at the Nizam's Institute of...

Revamped khazana!
August 31, 2011... Taj Khazana, the in-house lifestyle boutique chain of Taj Hotels, Resorts and Palaces, has a new location to add to its quintessentially hand-made treasure trove. The boutique at the Taj Coromandel, Chennai has undergone a makeover and the...

GDP growth dips to 7.7% in Q1 on slowdown in construction.
August 31, 2011... Byline: Our Bureau Economy stumbles despite bumper Rabi crop A sharp slowdown in construction activity has pulled down economic growth to below 8 per cent in the first quarter of the current fiscal. The country's real gross domestic...

Indian Oil Petronas LPG terminal at Ennore nearing completion.
August 31, 2011... Byline: M. Ramesh Facility will smoothen gas supply in region Chennai, Aug. 30 The LPG importation terminal being put up at Ennore, about 25 km north of Chennai, by Indian Oil Petronas Pvt Ltd, is nearing completion, and the region could...

2G: ED orders attachment of properties, freezing of accounts of 5 cos.
August 31, 2011... Byline: Our Bureau The Enforcement Directorate (ED) on Tuesday ordered attachment of immovable properties of five companies in connection with 2G spectrum allocation scam. The five companies are Dynamix Realty, Conwood Constructions,...

Branding for a connected world.
August 31, 2011... Byline: Chitra Narayanan What happens when a apersonality brand' and a aperformance brand' come together and are re-branded as one new brand? aoeHopefully, it becomes a well performing, personality brand,a quips Mr Tim Leberecht, Chief...

Religare sets up advisory panel to guide its banking foray.
August 31, 2011... Byline: Our Bureau Financial services firm Religare Enterprises Ltd (REL) has announced the setting up of an Advisory Panel to guide the Group's banking foray. Mr Suman Bery, former Director-General of the NCAER, a policy think-tank, and...

Talk on turnaround strategies.
August 31, 2011... Byline: a Our Bureau The Strategic Management Forum of Manipal Institute of Management (MIM) organised a talk on aTurnaround strategies' on Tuesday. A press release said here that Dr P.D. Shenoy, a former IAS officer, who was the resource...

A stunning performer B&O BeoSound 5 Encore.
August 31, 2011... This digital music system allows for easy navigation in your digital music library, access to over 13,000 internet radio stations and a high quality listening experience coupled with intuitive graphical user interface. The sound hub arranges all...

Travel through time.
August 31, 2011... In a first for the Swiss luxury watch brand, Vacheron Constantin held an exhibition titled aoeTreasures of Vacheron Constantin: A legacy of watchmaking since 1755a at the National Museum of Singapore, showcasing pieces illustrating it amazing...

Dr Reddy's unveils 2 new products in US market.
August 31, 2011... Byline: Our Bureau Dr Reddy's Laboratories Ltd announced on Tuesday that it has launched its over the counter (OTC) Fexofenadine HCl and Pseudoephedrine extended HCl release tablets 180/240 mg. The US Food & Drug Administration (FDA)...

Ministries set Dec 10 deadline to submit action plan on curbing corruption.
August 31, 2011... Byline: Shishir Sinha The Performance Management Division (PMD) of the Cabinet Secretariat will sit with secretaries of 74 Central Ministries and departments for finding ways to identify potential areas of corruption and suggest mitigating...

Godrej creates online buzz for home security business.
August 31, 2011... Byline: Gokul Krishnamurthy Godrej Security Solutions (GSS) is looking to fuel its fastest growing business segment a home security solutions a online beginning this festive season. The segment is growing at around 70 per cent, according...

Banking on circumspection.
August 31, 2011... Quietly yet self-assuredly, the Reserve Bank of India has released its draft guidelines on new bank licences for the private sector after a gap of more than a decade. The guidelines offer a vital clue to the RBI's world-view on the subject: in a...

10,000 new jobs on offer in Gulf nations every month: Ravi Pillai.
August 31, 2011... Byline: Vinson Kurian Saudi Arabia-based serial entrepreneur Dr Ravi Pillai says he will continue to recruit up to 10,000 workers every month for executing a steady stream of contracts in the Gulf Cooperation Council (GCC) countries. Dr...

Carry me around Lenovo ThinkPad X220.
August 31, 2011... The ultraportable ThinkPad X220 comes equipped with the second generation Intel Core i7 processor. While video conferencing, you can choose between Private Chat mode that eliminates background noise when one person is talking or Conference Call...

Cashew continues to remain sluggish.
August 31, 2011... Byline: G.K. Nair Cashew market continued to remain sluggish last week. However, some processors in Vietnam sold some volume few cents lower for W320 from $4.40 to $4.45, splits at around $4.00, pieces at around $3.90/lb (f.o.b.). Large...

Maruti Suzuki begins operations at Manesar; workers refuse to relent.
August 31, 2011... Byline: Our Bureau India's largest car manufacturer, Maruti Suzuki started partial operations at its Manesar plant on Tuesday although no cars were produced. The production in the factory has been affected since Monday as the company sealed...

Sluggish offtake keeps soya on leash.
August 30, 2011... Byline: Our Correspondent Demand in soya oil continued to be sluggish even as Malaysian palm oil futures closed higher. Though local mandis remained closed on Monday for Shomvati amavasya, in private trading soya refined ruled flat at Rs...

Gulf Air plane skids off runway at Kochi airport.
August 30, 2011... Byline: V. Sajeev Kumar Miraculous escape for passengers; minor injuries for a few A major disaster was averted at Cochin International Airport in the early hours of Monday when a Gulf Air Bus A320 flight from Bahrain skidded off the...

S&P-500, Dow futures trading on NSE makes a slow start.
August 30, 2011... Byline: Our Bureau NSE announces liquidity boost scheme to pep up trading interests Derivative volumes on global indices S&P-500 and the Dow Jones Industrial Average (DJIA) made a slow start in opening day's trade on the NSE. ...

In search of honesty.
August 30, 2011... Byline: R. Sundaram In Admiration for Anna and Some Submissions in The Hindu (August 26) , the author narrates instances of her interaction with a cross section of the people out there: aoeSohan Lal from Tilak Nagar is in stone trade and does...

State to beef up pollution control efforts.
August 30, 2011... Byline: Our Bureau The Tamil Nadu Pollution Control Board is to be strengthened to address the challenges posed by increased industrialisation in the State. Moving the demand for grants to the Ministry of Environment, the Minister Mr...

Tepid sales in turmeric on slack N. India demand.
August 30, 2011... Byline: Our Correspondent Turmeric prices continued to rule flat amidst low trade in Erode markets on Monday. aoeSales of turmeric in the four markets were low for want of upcountry demand, especially North India, for the commodity. But...

Mobile app for farmers launched.
August 30, 2011... Byline: Our Bureau Bharat Sanchar Nigam Ltd has launched an application which will enable farmers to know amandi' rates on their mobile phone. Called Digital Mandi, the application has been developed in collaboration with IIT Kanpur. The...

Two steps forward, one step back.
August 30, 2011... Byline: Sumita Kale Imagine an India where every resident, irrespective of location, is able to make financial transactions electronically with anybody, individuals or firms, anywhere in the country. This is the vision spelt out by the...

Companies will need Rs 500 cr to set up bank.
August 30, 2011... Byline: Our Bureau RBI's draft guidelines prescribe stringent checks and balances Indian private corporates and non-banking finance companies can apply for licences to set up banks. This is, however, subject to their not having...

2G case: Order on framing charges against accused on Sept 15.
August 30, 2011... Byline: Our Bureau A Special Court will give its order on September 15 regarding framing of charges against the 17 accused in the 2G spectrum case, including former Telecom Minister, Mr A. Raja, and DMK MP Ms Kanimozhi. The CBI has told...

Heavy rains paralyse Mumbai.
August 30, 2011... Byline: Our Bureau The heavy downpour over the last two days, battering Mumbai, coastal Konkan and parts of central Maharashtra has thrown Mumbai and the surrounding areas completely out of gear. Police control room informed that one...

Service tax levy soon on rail ticket, capitation fee.
August 30, 2011... Byline: Our Bureau Negative List concept paper keeps these services out You may soon need to pay service tax on railway fares as well as on capitation fees or donations to schools or colleges. These services are not among those placed...

2G: Unitech's Chandra says evidence against him is fabricated.
August 30, 2011... Byline: Our Bureau Mr Sanjay Chandra, the Managing Director of Unitech Wireless Pvt Ltd and an accused in the 2G case, told the Supreme Court on Monday that he is entitled to bail as the CBI has only aoefabricated evidencea against him. ...

Kolkata port starts trans-loading operations at Konica sandheads.
August 30, 2011... Byline: Abhishek Law Armed with the Centre's approval in October 2010 to extend the operational limits in the Bay of Bengal, the Kolkata Port Trust (KoPT) had commenced pilot trans-loading operations at Konica Sandheads - now renamed as...

Financial outfits welcome RBI guidelines on NBFCs.
August 30, 2011... Byline: Our Bureau Raise concern over capital adequacy ratio provisioning aoeThe guidelines on NBFCs focus on systemic risks a the treatment on capital market exposures are the steepest, with risk weightage of 150 per cent. This is...

Practise economics as people matter: Subbarao.
August 30, 2011... Byline: Our Bureau Addressing the inaugural function of the golden jubilee celebrations of the Indian Economic Service (IES) here, the Reserve Bank of India Governor, Dr D. Subbarao, outlined five principles that economists in the Government...

Trouble again at Maruti's Manesar plant; production stopped.
August 30, 2011... Byline: Our Bureau Workers resist signing agood conduct' bond Maruti Suzuki India stopped production at its Manesar facility on Monday. The company asked workers to sign a agood conduct bond' before entering the factory premises following...

aA good balancing act'.
August 30, 2011... Byline: Our Bureau The RBI's proposed revised guidelines for licensing of new private banks balances well the necessity of opening up the sector and having more banks with prudential regulation to ensure that there is little room for...

Royale Asia Couriers launches hand-carry service from, to India.
August 30, 2011... Byline: T.E. Raja Simhan Royale Asia Couriers (India), an associate of the Hong Kong-based Royale Asia Group, has launched the (on board courier) OBC/hand carry service from and to India, according to its Managing Director, Mr Prem Kumar. ...

Green Bihar campaign.
August 30, 2011... Bihar's ruling Janata Dal-United (JD-U) is set to launch a campaign to plant five million saplings over the next two years, a party leader said on Monday. After a successful signature campaign seeking special category status for Bihar, the JD-U...

Baroda Manipal School of Banking to train prospective staff.
August 30, 2011... Byline: Our Bureau Manipal Education and Bank of Baroda have launched the Baroda Manipal School of Banking (BMSB) at an investment of over Rs 30 crore to train prospective employees of the bank before they are absorbed as probationary...

Lighting Science ties up with Dixon to enter India.
August 30, 2011... Byline: Our Bureau Rs 50-crore LED facility to come up in Noida Dixon Technologies India Pvt Ltd, an electronic manufacturing services provider, is setting up a Rs 50 crore facility in Noida to manufacture Lighting Science Group's (LSG)...

Some of the norms are a shade too stringent, says industry.
August 30, 2011... Byline: Our Bureau A number of small NBFCs may go out of the RBI registration net The recommendations of RBI panel on NBFCs have drawn a mix of reactions from the NBFC industry. While broadly welcoming the alignment of regulations of NBFCs...

ASCI to fast track advertisers' complaints on ads.
August 30, 2011... Byline: Our Bureau The advertising industry's self-regulatory body ASCI (Advertising Standards Council of India) has announced a fast-track procedure for addressing complaints by its (advertiser category) members against advertisements. The...

Industry welcomes guidelines.
August 30, 2011... Byline: Our Bureau The RBI's draft guidelines on new bank licences were welcomed by the NBFC industry and financial experts.A A number of NBFCs, including Shriram Transport Finance, LIC Housing Finance, SREI Infrastructure Finance and IFCI,...

Orthodox tea supply may fall.
August 30, 2011... Byline: .a P.S. Sundar Orthodox tea supply for exports is likely to decline from next month, traders and producers say. aoeErratic weather pattern seen in most producing belts will pull down production. Uncertain overseas demand is forcing...

Duty on iron ore exports may be raised further.
August 30, 2011... Byline: Our Bureau Move aimed at conserving raw material for domestic consumption A further increase in duties on iron ore exports is not ruled out. Indications came in when the Steel Minister, Mr Beni Prasad Verma, told the Lok Sabha,...

Reducing aleverage'Aof NBFCs operating with public funds is the aim: Usha Thorat.
August 30, 2011... Byline: N. S. Vageesh aRBI panel on NBFCs has sought to address regulatory, industry concerns' A holiday in Turkey is the wrong time to interrupt anyone on official matters. Still, when the Reserve Bank of India released the report ofAits...

Emvies 2011: Mindshare on top, Lodestar follows.
August 30, 2011... Byline: Our Bureau Mindshare retained its aAgency of the Year' title at the eleventh edition of the Advertising Club Bombay's Emvies, the awards for excellence in use of media for marketing communication. In all, 31 media agencies...

Broad principles governing bank licences.
August 30, 2011... Byline: Our Bureau The main objective of the process is to limit the number of bank failures and minimise systemic risk. They are an entry barrier for institutions that don't meet necessary conditions and could pose a threat to the banking...

Infra majors decry Polavaram contract norms.
August 30, 2011... Byline: Our Bureau Several top infrastructure companies are set to lose out on their chance to bid for the Rs 4,717-crore project works related to the Polavaram project in Andhra Pradesh due to the short time given to submit specifications...

Spot rubber stretches gain.
August 30, 2011... Byline: Our Correspondent Domestic rubber prices recovered further on Monday. On the spot, prices gained strength tracking sharp gains on the National Multi Commodity Exchange (NMCE). According to observers, market activities are expected...

Saudi Arabia-based Ravi Pillai eyes petrochem sector.
August 30, 2011... Byline: Vinson Kurian Leading Saudi Arabia-based serial entrepreneur Dr Ravi Pillai, who acquired the Leela, Kovalam property for Rs 500 crore in recent times, is now eyeing the petrochemicals sector to make his presence felt in the...

Financial inclusion a The challenges.
August 30, 2011... Byline: A.J. Vinayak The RBI's thrust on financial inclusion while issuing the guidelines for new banking licences is welcome. Many public sector banks (which started off as private banks 70-80 years ago) would not have existed today but...

SAB Miller adds fizz to premium portfolio.
August 30, 2011... Byline: Our Bureau Contest on to select brand evangelists for aMiller High Life' SAB Miller is targeting the urban 25 to 35-year-olds with its premium Miller High Life brand of beer, launched in India recently. The brand is being rolled...

RBI draft norms take India Inc closer to banking dream.
August 30, 2011... Byline: Our Bureau Eligibility criteria could be the dampener India Inc moved a step closer to realising its ambition of setting up a bank. Captains of corporate houses will soon be closeted with their finance heads to study the Reserve...

Train enquiry system expansion.
August 30, 2011... Byline: Our Bureau The Palakkad division of Southern Railway will take up work on expansion of the capacity of train enquiry systems, such as touch-screen, coach guidance system, from August 31 to September 2 at stations under its...

Growers seek Tata Coffee's help to supply beans to Starbucks.
August 30, 2011... Byline: Anil Urs Small growers have decided to tap Tata Coffee which has a tie-up with Starbucks to supply coffee beans to the world's largest retail chain. At the recently-concluded annual general meeting of Tata Coffee held at Pollibetta...

Drive India to consolidate southern operations.
August 30, 2011... Byline: Anil Urs Drive India Enterprise Solutions Ltd (DIESL), provider of integrated logistics solutions, is eyeing Bangalore to set up its southern base and also create a distribution centre in Hyderabad. DIESL, is a jointly held private...

Religare sees scope to enter bank business.
August 30, 2011... Byline: Our Bureau aWe believe we qualify on all the criteria' Financial services firm Religare Enterprises Ltd said today that its promoter group (Singh family) qualified on all criteria set out in the RBI's draft guidelines on new bank...

Fastfood chain Quiznos steps in to add new US flavour.
August 30, 2011... Byline: Amit Mitra The Indian fast food sector acquired a new US flavour with Denver-based global quick service restaurant (QSR) chain Quiznos entering the country by opening its first flagship store in Hyderabad, as part of its global...

High Courts for North-East.
August 30, 2011... Byline: a Our Bureau The Government has decided to set up High Courts for each of the North-Eastern States, subject to creation of necessary infrastructure by the respective State Governments. Giving this information in written reply to a...

SBH opens first NRI branch in Vizag.
August 30, 2011... Byline: Our Bureau State Bank of Hyderabad has made impressive strides in recent years and has recorded growth of nearly 50 per cent in just two years, from Rs 1,06,128 crore to Rs 1,53,348 crore, according to Mr Bhagavantha Rao, new Managing...

Time is right for sugar decontrol, says CII.
August 30, 2011... Byline: Our Bureau End to 10% levy obligation, monthly release mechanism sought The Confederation of Indian Industry (CII) has pitched for decontrol of the sugar industry, while claiming that the current time is the most appropriate for...

Nova Medical partners Omzest Group to chart W. Asia footprint.
August 30, 2011... Byline: Our Bureau Bangalore-based Nova Medical Centers has announced its expansion into West Asia. For the expansion, Nova and the Omzest Group have created a 51:49 venture. Omzest is a diversified group in the Sultanate of Oman led by...

IT start-ups begin to feel US downgrade heat.
August 30, 2011... Byline: K.V. Kurmanath Upbeat on products but worry about funding Ever wondered how S&P's downgrade of the US' credit rating matters to us? Read this. A start-up company in Hyderabad has failed to seal a deal with a garments...

Nestle goes for the gut with Actiplus launch.
August 30, 2011... Byline: Chitra Narayanan Probiotic dahi category gets active with brand launches Nestle's probiotic dahi brand Nesvita will soon be phased out of Indian shelves as it makes way for a newly-launched brand Nestle Actiplus Dahi. On Friday,...

Let's get real about corruption.
August 30, 2011... Byline: RASHEEDA BHAGAT Sorry to be a party pooper. But on Saturday evening, as the entire nation went into a celebratory mood, with the band and baja, of course, provided by our television news channels, as the 12-day fast of Anna Hazare...

31 lakh weavers to get photo ID cards soon.
August 30, 2011... Byline: Our Bureau Of the total of 38 lakh handloom weavers and allied workers in the country, photo identity cards for about 31 lakh have been prepared and sent to state governments to ensure that benefits reach them. aoeIssuance of photo...

Raids on Amway offices: aDirect selling' association team to meet Home Secretary.
August 30, 2011... Byline: Our Bureau A delegation of the Indian Direct Selling Association (IDSA) intends to meet the State Home Secretary and senior police officers here on Wednesday to discuss the situation arising out of raids on Amway India offices and...

Bay alow' drives heavy rains over West, central parts.
August 30, 2011... Byline: Vinson Kurian The upper air cyclonic circulation over northwest Bay of Bengal deepened into a low-pressure area that persisted off the coast of Orissa and north Andhra Pradesh on Monday evening. The alow' drove up rainfall activity...

Evolva Biotech developing sweetener molecule to tap diabetes market.
August 30, 2011... Byline: Swetha Kannan Evolva Biotech, a fledgling Switzerland-based biotech company, is developing a sweetener molecule a eyeing the potentially huge diabetes market in the country. aoeThere is enormous market potential here with India...