Business Line articles from February 2007

Business Line archives from February 2007

Where have all the high-value notes gone?
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Mumbai/Chennai, Feb. 27 - Indians may be buying more cell phones, cars and colour television sets with the economy chugging along at nine per cent as the Economic Survey proudly...

Liquidation sends stocks down 170.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Mumbai, Feb. 27 - The BSE Sensex closed lower by 170.69 points at 13,478.83 with investors liquidating positions ahead of the Union Budget NSE S&P CNX Nifty index closed at...

Is 'remunerative' fair.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 New Delhi, Feb. 27 - The Economic Survey warns against any drastic cut in petroleum product duties or any significant increase in foodgrain subsidy. Saying that there is need to...

Economy in high-growth trajectory, says Survey.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 New Delhi, Feb. 27 - The economy seems to have decidedly 'taken off' and moved from a phase of moderate growth to a new phase of high growth. That is the prominent theme of the...

Polar Pharma enters US, Europe with new strategy.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Kolkata, Feb. 27 - Prophylactics major Polar Pharma India Ltd has expanded its footprint to the US and Europe The company, which has its presence in 20 countries across...

ONGC, Cairn agree to find best crude price for Rajasthan fields.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 New Delhi, Feb. 27 - With no conflict between the producers of Rajasthan field - Cairn India Ltd and ONGC - on the issue of crude price, the two entities have decided to...

BASF increasing thrust on biotech.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Recently in Limburgerhof (Germany) - BASF, the world's leading chemical company and global player in agricultural products, is increasing its thrust on biotechnology, as it sees...

Volvo to buy Ingersoll's road development unit for $1.3 b.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Bangalore, Feb. 27 - Volvo on Tuesday said that it has reached an agreement with Ingersoll Rand to acquire the assets of the company's road development division, a leading...

Anil Chem working cap limit up.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Mumbai, Feb 27 - Anil Chemicals and Industries Ltd today said that its board of directors has noted that the disbursement made by Punjab National Bank for working capital limit...

Christy to shift production base.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Mumbai, Feb. 27 - UK towel brand Christy is proposing to shift its manufacturing plant to the Welspun group. The Welspun Group had acquired an 85 per cent interest in Christy in...

Citigroup not to invest in ICSA India.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Hyderabad, Feb. 27 - Citigroup Venture Capital International Growth Partnership Mauritius Ltd, & other Trusts (Citigroup) are likely to back off from their proposed investment...

Auto industry needs innovation to compete globally: Survey.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 New Delhi, Feb. 27 - India's automobile industry needs a major push to enhance its capabilities to innovate and upgrade to remain competitive in terms of quality and price in the...

Budget to be presented today.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 New Delhi, Feb. 27 - The Union Finance Minister, Mr P. Chidambaram, will be presenting the General Budget for 2007-08 in the Lok Sabha today Copyright 2007 Business Line

Holcim increases stake in Ambuja Cement.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Mumbai, Feb. 27 - Swiss cement company Holcim has increased its stake in Ambuja Cement India Ltd (ACIL) to 78 per cent, buying an additional 11 per cent stake from Gujarat Ambuja...

Crisil Q4 net up 74%.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Mumbai, Feb. 27 - Crisil Ltd has reported a 73.7 per cent rise in net profit at Rs 7.02 crore (Rs 4.04 crore) for the quarter ended December 31, 2006 Total income for the...

Hindustan Motors ties up with Shriram Properties.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Kolkata, Feb. 27 - Hindustan Motors Ltd (HM) has entered into an arrangement with Shriram Properties Ltd of Bangalore for the development of an integrated IT township and an auto...

THDC, NPCIL to develop hydel projects.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 New Delhi, Feb 27 - Tehri Hydro Development Corporation (THDC) today signed an MoU with Nuclear Power Corporation of India Ltd (NPCIL) to jointly develop pumped storage schemes...

Mobile money transfer awaits Govt nod.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Mumbai, Feb 27 - Should a taxi-driver in Mumbai wish to send money to his family in a village in say Uttar Pradesh, he may soon be able to use his mobile for a same-day...

Special duty waiver on handsets made in SEZs goes.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 New Delhi, Feb 27 - In a move that could hurt the plans of mobile handset manufacturers in the country, the Government has withdrawn the exemption of 4 per cent special...

Ericsson bags mobile gear contract from IDEA.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 New Delhi, Feb. 27 - Aditya Birla Group-promoted IDEA Cellular has awarded a three-year contract to Swedish equipment major Ericsson for expanding its GSM-based cellular network...

Helios & Matheson ties up with ISB.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Hyderabad, Feb. 27 - IT services provider Helios & Matheson and the Indian School of Business (ISB) have announced partnership to host the semi-finals of the 'Global Social...

Security threat to Monster users.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Pune, Feb. 27 - Websense Security Labs TM has discovered e-mails that attempt to lure users to click on a link in order to upgrade their system security The e-mails, which...

Smiths Aerospace partners HCL Tech for design centre.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Chennai, Feb. 27 - Smiths Aerospace, a $2.4-billion transatlantic aerospace systems and equipment company, has opened its dedicated centre here through its partner HCL...

Goldstone Imaging teams up with German battery major.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Hyderabad, Feb. 27 - With mobile devices such as hand phones, MP3 players and digital cameras proliferating, imaging and mobile storage company Goldstone Imaging sees market for...

New IDEA Cellular feature.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Hyderabad, Feb. 27 - IDEA Cellular, an Aditya Birla Group Company, has announced the launch of a unique download product--Press * To Copy as a part of its value added service...

World Cup portal launched.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Visakhapatnam, Feb 27 - Samudra Software has launched www.cricketshowdown.com for fans to try out fantasy cricket online during the World Cup. Mr Peter Schneeberger, Director,...

Malaysia to open chain of kitchens.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Hyderabad, Feb. 27 - Malaysia has unveiled an innovative campaign to attract more tourists from India. It has decided to open a chain of kitchens in all major Indian cities,...

Pepsico plans to enhance Blue Billion campaign.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Mumbai, Feb 27 - Building on its Blue Billion property created last year, Pepsico India is betting on the World Cup this summer to build further equity for its brand on the back...

Tier II B-school grads get 20% more pay.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Bangalore, Feb. 27 - While the placement season at the IIMs is only now hotting up, top schools in the second rung have already wrapped up their campus recruitment processes. The...

Broadcasters' plea against CAS pricing rejected.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 New Delhi, Feb. 27 - The Telecom Disputes Settlement and Appellate Tribunal (TDSAT) has rejected Set Discovery and ESPN Star Sports' appeal against regulator Telecom Regulatory...

CavinKare's Chinni's pickles riding high on star power.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Chennai, Feb. 27 - Shampoos to pickle maker CavinKare Pvt Ltd said that its Chinni's brand of pickles has seen a 50 per cent growth in sales on the back of celebrity endorsement...

DTH: Reliance Blue Magic to get space this year.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Bangalore, Feb. 27 - The DTH space is getting hot and the Indian Space Research Organisation (ISRO) says it can clear the backlog for at least two new players not before end-2008...

Australia to help India progress in Doha Round of trade talks.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Chennai, Feb. 27 - The Australian Trade Minister, Mr Warren Truss, has said that he will take up with the Union Commerce and Industry Minister, Mr Kamal Nath, the need to achieve...

Plea to raise cap on health cover tax benefits.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Chennai, Feb. 27 - Mr Antony Jacob, Managing Director, Royal Sundaram Alliance Insurance Company hopes that the promised comprehensive Insurance Reforms Bill will happen soon...

Asset bubbles: Central banks can call the shots.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 A much-bandied about phrase in recent times, when talking about financial markets, is the abundance of 'global liquidity'. Most explanations of the current huge run-up in asset...

Call rates tad lower.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Mumbai, Feb. 27 - Banks parked Rs 23,470 crore with the RBI According to a dealer in a private bank, "Liquidity was comfortable on RBI's regular intervention in the forex...

Bond prices fall on profit booking.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Mumbai, Feb. 27 - Bond prices fell by around 10 paise on profit-booking. Total traded volumes on the order matching system were Rs 3,125 crore (Rs 3,000 crore). Dealers said...

Rupee trades flat vs dollar.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Mumbai, Feb. 27 - The rupee traded flat against the dollar on Tuesday ahead of the Union Budget. The rupee opened at 44.18, moved in the range of 44.15-44.22 and closed at...

Disbursements for rural infrastructure lag sanctions.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Mumbai, Feb. 27 - Disbursements under the Rural Infrastructure Development Fund continue to lag behind sanctions, according to the Economic Survey, 2006-07. The cumulative amount...

Survey pitches for pension reforms.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 New Delhi, Feb. 27 - While pension reforms refuse to make headway in the wake of political opposition, the survey has made a strong case for bringing about a vibrant pension...

Slowdown likely in bank credit growth.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 New Delhi, Feb 27 - The Economic Survey for 2006-07 has indicated that bank credit was "unlikely" to grow as fast as it had in the recent past It has however predicted that...

Rs 38 cr allotted to improve CBEC infrastructure.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 New Delhi, Feb. 27 - The Finance Minister, Mr P. Chidambaram, has sanctioned Rs 38.48 crore to the Central Board of Excise and Customs (CBEC) for improving its infrastructure and...

Turkey keen to set up varsity.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Hyderabad, Feb. 27 - Turkey is keen to set up an international university in India. It has done exploratory work and is weighing options of establishing a general university in...

'Air Sahara to increase presence in South'.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 New Delhi, Feb. 27 - Air Sahara is to increase its presence in south India from March this year, the airline President, Mr Alok Sharma, said here on Tuesday "We will be...

Chidambaram may peg higher revised estimates for direct taxes.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 New Delhi, Feb. 27 - Reaping dividends from strong economic growth and last Budget's move to shorten time limits for completion of assessments, the Finance Minister, Mr P....

Chennai airport cargo handling down 12% in Jan.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Chennai, Feb. 27 - Cargo handling through the Chennai airport declined by nearly 12 per cent to 15,253 tonnes in January compared with 17,346 tonnes in December, according to...

Look into staff demands, Patel tells AI, Indian.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 New Delhi, Feb. 27 - Ahead of the proposed merger of Air India and Indian, the Government has asked both airlines to look into certain concerns of the employees like wage...

'Rail Budget not to hit road transport sector'.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Kolkata, Feb. 27 - The Railway Budget for 2007-08 will not affect the road transport sector, at least immediately, according to Mr D.P. Agarwal, Vice-Chairman & Managing Director...

Multi-modal system key to improve ports' efficiency: Survey.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 New Delhi, Feb. 27 - Slow evacuation of cargo coupled with poor hinterland connectivity has undermined the efficacy of ports and it is imperative to develop a multi-modal system...

Vallarpadam terminal: DP World submits plan to Kochi port.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Kochi, Feb. 27 - DP World, the container terminal operator of the Cochin Port Trust, has submitted the plan and drawings for the proposed international container transhipment...

Undeterred by inflation, Survey plumps for high growth.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Even as the creeping inflation has evoked concerns among the allies of the ruling United Progressive Alliance as also the Government headed by the Prime Minister, Dr Manmohan...

Today is the Day!
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Yes, today is the day of the Big B - no, not the Big B of KBC, but the Budget with the capital B. In a few hours, we will all be sitting down to watch the Finance Minister...

Is the RBI inflating India?
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 There is evidence that the Reserve Bank of India may have been inflating the economy even while keeping the rupee weak and the rupee prices of imports high. It has made living an...

Set to soar.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 The economy may have "decidedly taken off for higher growth" but could face turbulence from inflation Last year, the Economic Survey for 2005-06 began with a...

Futures trading in farm products.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 According to Mr Sharad Pawar, Union Agriculture Minister, there is no link between futures trading and the rise in prices of farm products (Business Line, February 22) ...

'State' of the Union.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 I was watching the TV with rapt attention. It was a live telecast of the US President, Mr George Bush, delivering his State of the Union Address on the night of January 23 ...

Why money must be gold-plated.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 '...Whenever destroyers appear among men, they start by destroying money, for money is men's protection and the base of a moral existence. Destroyers seize gold and leave to its...

Will monetary medicine lower the inflationary pressure?
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 The debate over the link between inflation and growth tends to remain inconclusive, and let not the RBI contemplate on any serious monetary contraction which is likely to stifle...

Micro-finance needs soft norms, tough monitoring.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 The ever increasing rate of failure of urban co-operative banks in recent years has made prudential regulation and supervision of micro-finance institutions crucial, to protect...

Focus on market divestment of CPSEs.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 New Delhi, Feb 27 - Reiterating the Government's commitment towards disinvestments of Central public sector enterprises (CPSEs), the Economic Survey tabled today in Parliament...

Need to curb inflation without hurting growth.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 New Delhi, Feb. 27 - Inflationary pressure is likely to continue during the current financial year and containing it, without hurting the economic growth momentum, is high on the...

Population growth to stabilise by 2045.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Kochi, Feb. 27 - The annual population growth rate in India is expected to decelerate from the prevailing 1.6 per cent levels to 0.9 per cent by 2026 Despite the declining...

More steps to curb inflation.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 New Delhi, Feb. 27 - The Union Finance Minister, Mr P. Chidambaram, on Tuesday said that the Government would make every effort to "maintain and manage" the current high growth...

Rigid labour laws dog textile sector.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 New Delhi, Feb. 27 - The competitiveness of the textiles sector continues to be hampered by rigidities in labour laws, ageing machinery and infrastructure bottlenecks such as...

Services sector attracts highest FDI in April-Sept 2006.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 New Delhi, Feb. 27 - The Economic Survey tabled today in Parliament said that the services sector has emerged as the most attractive sector for foreign direct investment during...

Duty cuts on petroleum products unlikely.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 New Delhi, Feb. 27 - Consumers and oil companies need not expect any drastic cuts in duties on petroleum products in the Union Budget to be presented on Wednesday The...

Bleak future.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 'MEANINGLESS' BUDGET: Jute mill workers and their families at the Shyam Nagar workers' quarters in Kolkata on Tuesday. The workers in West Bengal are having a hard time as some...

Allahabad Bank opens HK branch.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Kolkata, Feb. 27 - Allahabad Bank this week opened its first overseas branch in Hong Kong. The branch is located at the Lippo Centre and will be serving both retail and corporate...

e-Choupal, a novel pvt sector initiative: Survey.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Kolkata, Feb. 27 - The e-Choupal agricultural marketing model of ITC Ltd has been mentioned in the Economic Survey 2006-07 as among the "novel private sector initiatives" aimed...

SSIs must enhance tech capabilities.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 New Delhi, Feb. 27 - The micro and small enterprises sector, which accounts for 39 per cent of the country's manufacturing output, can achieve sustained higher growth by...

Pharma sector turnover to double by 2010.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 New Delhi, Feb. 27 - The Economic Survey 2006-07 has predicted a doubling of turnover to Rs 1,00,000 crore for the pharmaceutical industry by 2010 and said that the National...

Industry lauds growth-oriented Survey.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 New Delhi, Feb 27 - The Economic Survey 2006-07 has been termed "growth-oriented" by industry chambers. The FICCI President, Mr Habil Khorakiwala, said that the buoyant note...

Study on impact of FDI, big players' entry in retail.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 New Delhi, Feb. 27 - The Ministry of Commerce and Industry on Tuesday said that it had commissioned a study on the impact of foreign direct investment (FDI) and big retail...

Waiving big money goodbye.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 New Delhi, Feb 27 - Exemptions in income-tax, corporation tax, excise and customs and others incentives would cost the exchequer a whopping Rs 1,00,147 crore in the current...

Telephone subscribers to touch 650 m by 2012.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 New Delhi, Feb. 27 - Pointing out that the telecom sector has been the biggest success stories of market-oriented reforms, the Economic Survey has projected that telephone...

IT/ ITES sector boosts employment.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 New Delhi, Feb. 27 - The growth of the IT/ ITES sector has had a salutary effect on the employment scenario, with total number of professionals employed in the sector growing...

Strong domestic demand pushes up steel prices.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 New Delhi, Feb. 27 - Steel prices have shot up during the first three quarters of the current financial year mainly due to strong domestic demand and increase in cost of raw...

Air traffic grew by 35.5% in April-Sept.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 New Delhi, Feb 27 - Domestic and international air passenger traffic grew by 35.5 per cent during April-September last year, according to the Economic Survey 2006-07 The...

SEZ policy must address stakeholders' fears.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 New Delhi, Feb 27 - In the backdrop of the debates over the costs and benefits of special economic zones (SEZs), the Economic Survey has said that fears about revenue losses and...

Survey paints grim picture of power situation.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 New Delhi, Feb. 27 - The Economic Survey painted a grim picture of the scenario in the power sector, with only around half the targeted addition in generation capacity during the...

Optimism on commodity exchanges unfounded.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Mumbai, Feb. 27 - The Economic Survey 2006-2007 has expressed confidence that the commodity futures exchanges, which have seen a consistent increase in turnover over the past few...

Govt defends role of commodity exchanges.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 New Delhi, Feb. 27 - At a time when political opinion against futures trading is building up for allegedly stoking inflationary pressures, the Economic Survey has put up a robust...

Pulses de-listing downplayed.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Mumbai, Feb. 27 - There is belief that the Economic Survey has sought to downplay the "political risk" associated with commodity futures trading The chapter on "Commodity...

Spot rubber declines on global cues.
February 28, 2007... (From Business Line) from BUSINESS LINE, February 28, 2007 Kottayam, Feb. 27 - Spot rubber moved down on Tuesday. According to market circles, the trend of the day was set by Budget fears and a slip in international indices mainly TOCOM...