Business Line articles from February 2011

Business Line archives from February 2011

Govt matters less and less to the common man.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Chennai, Feb 27 - Politically, the Government may still be all-powerful, wielding in its hands the rule of the law although the Maoists may have a different take on it. However, viewed purely in fiscal...

Pranab's sixth Budget to take him to a new league.
February 28, 2011... from BUSINESS LINE, February 28, 2011 New Delhi, Feb 27 - When the Finance Minister, Mr Pranab Mukherjee, wraps up his Budget speech in the Lok Sabha on Monday, he would have achieved a new milestone in Budget presentation. By presenting the...

Despite curbs, import of unbranded Chinese mobiles grows 90%.
February 28, 2011... from BUSINESS LINE, February 28, 2011 New Delhi, Feb 27 - Import of unbranded Chinese handsets into the country has increased 90 per cent to 38 million units in the current year against 20 million units in 2009-10. According to the Indian...

Coal India raises prices 30% for key sectors.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Kolkata, Feb 27 - Amidst expectation of the appointment of coal price regulator, Coal India today effected a 30 per cent increase in prices for non-regulated sectors such as cement, iron and steel,...

'We firmly believe in creating value and sharing it with society'.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Mumbai, Feb 27 - Researchers from the Faculty of Science and Engineering at Toronto's York University are currently touring India on a mission to establish key partnerships and collaborations with Indian...

'Without clear-cut guidelines, you can forget acquisitions'.
February 28, 2011... from BUSINESS LINE, February 28, 2011 New Delhi, Feb 27 - As Chairman and Managing Director, Mr Partha S. Bhattacharyya's biggest achievement was putting Coal India on the world map by taking the company public in what became the country's...

Coal India may see Rs 1,000-cr bottomline boost.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Kolkata, Feb 27 - The decision of Coal India to increase prices, according to sources, will inflate the company's revenues by approximately Rs 6,000 crore by way of increasing the average return by 12 per...

Govt revenues from auto sector up 33%.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Mumbai, Feb 27 - The revenue received by the Government from the domestic automobile sector in the form of excise duty rose 33 per cent to Rs 6,198 crore in April-January 2010-11, according to a reply by the...

FICCI annual meet tomorrow to see high-powered line-up.
February 28, 2011... from BUSINESS LINE, February 28, 2011 New Delhi, Feb 27 - The 83 {+r} {+d} annual general meeting (AGM) of the Federation of Indian Chambers of Commerce and Industry will witness a high- powered line-up of speakers. For the second year in a row,...

NCC hopes to tie up funds for Krishnapatnam project by May.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Hyderabad, Feb 27 - NCC Ltd, formerly Nagarjuna Construction Company Ltd, on Sunday announced that the company will achieve financial closure by May for the Rs 7,000-crore, 1,320-MW thermal power project it...

Power-intensive sectors to feel the CIL pinch.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Kolkata. Feb 27 - Coal India Ltd's decision to effect a steep prices increase (30 per cent) for non-regulated sectors, especially for the coal produced by Orissa-based Mahanadi Coalfields (54 per cent), will...

Budget analysis.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Mumbai, Feb 27 - The Aditya Birla Group's chief Economist Mr Ajit Ranade, and Mr Bharat Shah, Chief Executive, ASK Raymond James Securities, among others, will speak at 'Budget 2011 - Discussion and...

Needed, a more humane tax administration.
February 28, 2011... from BUSINESS LINE, February 28, 2011 New Delhi, Feb 27 - Even as the Economic Survey released on the eve of the Union Budget gloated over how tax revenues provided the anchor for fiscal consolidation before the financial tsunami slowed down the...

Bagra given additional charge as Nalco CMD.
February 28, 2011... from BUSINESS LINE, February 28, 2011 New Delhi, Feb 27 - Nalco Finance Director, Mr B. L. Bagra, has been given additional charge as chairman-cum-managing director, following suspension of A.K. Srivastava on graft charges, the Ministry of Mines...

What brokers expect from Budget.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Nomura The unknown is going to be positioning of the Budget with respect to reforms. Whether the Government will come out with more populism to shore up its sagging popularity is going to decide the overall...

Reliance Capital rules at crucial level.
February 28, 2011... from BUSINESS LINE, February 28, 2011 I had shorted ACC March futures at Rs 965 last week, as it was Rs 25 less than Feb futures. Why is March futures trading lower? What does it mean? Is it better to hold my short position or cover? - P....

FIIs in no hurry to pick up bargains.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Chennai, Feb 27 - Ever since the Sensex took a 10-per cent tumble early this year, there has been speculation that FIIs may migrate to greener pastures. Now that the Sensex has fallen another 5 per cent...

Index may slide as negative news lingers.
February 28, 2011... from BUSINESS LINE, February 28, 2011 The drama on Dalal Street has turned bizarre. Market has seen a trend in shorting. Even if the Finance Minister presents a "market-friendly" Budget on Monday, the key indices' booster dose may not work for...

MTNL slumps 11%; banking majors fall.
February 28, 2011... from BUSINESS LINE, February 28, 2011 The US markets fell last week amid unease in West Asia. The Dow Jones Industrial Average suffered its second loss in 13 weeks and closed down 2.1 per cent, the Standard & Poor's 500 fell 1.7 per cent and...

Moving cars by rail.
February 28, 2011... from BUSINESS LINE, February 28, 2011 The operation of automobile freight trains and the creation of automobile and ancillary hubs in partnerships with private firms are some of the policy initiatives of the Indian Railways, according to Rail...

Karaikal port in expansion mode.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Simhan Vidya Bala Recently in Karaikal Officials of Karaikal port, the private port sandwiched between the major ports of Chennai and Tuticorin, are hoping that users from the industrial belts of Tamil Nadu...

Down the populist track again.
February 28, 2011... from BUSINESS LINE, February 28, 2011 The Rail Budget for 2011-12 confirmed what many had feared: frozen fares and a slew of projects. But then, the Railways Minister, Ms Mamata Banerjee, cannot be faulted on this score. This was the eighth...

'Embedded intelligence' at workplace.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Quite clearly, the company had lost some of the very seasoned workforce skilled at managing the production line with great diligence. The board knew where the hold-up was. What was, however, unclear was...

Ring in next phase of growth.
February 28, 2011... from BUSINESS LINE, February 28, 2011 The growth of the telecommunication sector has fuelled the inclusive growth agenda. . Today, every fifth person in rural India is connected. During the past year, the sector has made significant...

Survey and the dilemma.
February 28, 2011... from BUSINESS LINE, February 28, 2011 When the annual Economic Survey was introduced nearly 40 years ago to brief Parliament about the state of the economy, it used to be a thin document of about 30 pages. It grew steadily for about 15 years...

The Sharma-Khullar prophecy: Oklahoma or bust?
February 28, 2011... from BUSINESS LINE, February 28, 2011 One little talked about legacy of our colonial-type government is the persisting pre-eminence of the Ministries of Home, Finance, External Affairs and Defence. Other ministries, though important, occupy a...

The 'satyagrahis' of Egypt.
February 28, 2011... from BUSINESS LINE, February 28, 2011 West Asia continues to be turbulent. Not a day goes by without another report of a protest in yet another country. Morocco and Algeria have now started making it to the headlines. Reporters from different...

Fear indices and policy-making.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Derivatives, famously dubbed as weapons of mass-destruction by Warren Buffett, normally come under spotlight only during scams and frauds. Yet, one cannot deny that derivatives do provide useful price...

We don't want to lose sight of our profitability: Bhasin.(Interview)
February 28, 2011... from BUSINESS LINE, February 28, 2011 Bangalore, Feb 27 - In challenging times like these, the focus for Indian Bank is more on profitability. "Balance sheet size is one part, but we do not want to lose sight of our profitability. We don't want...

Oriental Bank hopes to get Rs 1,000-cr capital infusion.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Anjana Chandramouly Bangalore, Feb.27 Oriental Bank of Commerce expects capital infusion of about Rs 1,000 crore during the next quarter, according to a top official of the bank. "We have requested the...

'RuPay' ATM card planned for no-frills account-holders.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Mumbai, Feb 27 - Global payment processing companies - MasterCard Worldwide and Visa Inc - had better sit up and take notice. An Indian rival is threatening to give them a run for their money. The...

Shriram Transport Finance rolls out Automall near Chennai.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Chennai, Feb 27 - Just off the Grand Southern Trunk Road, the highway (NH- 45) that connects Chennai to the south, on the 68 {+t} {+h} km stone from the city, Shriram Transport Finance Company, the country's...

Techies fill the void in support for SMEs.
February 28, 2011... from BUSINESS LINE, February 28, 2011 The neighbourhood kirana store chottu, the pest control guys, the water purifier servicing chaps all come home to fix or fetch, but when it comes to a breakdown of the personal computer or laptop there is no...

Focusing on core strength is key to building a business.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Success gets talked about and a successful entrepreneur is held up as a role model. But there are lessons in failures too. This column will highlight the mistakes made by the entrepreneurs and the lessons...

Lessons to be learnt from 'perfect entrepreneurs'.
February 28, 2011... from BUSINESS LINE, February 28, 2011 This is the second and concluding part of the excerpts from the speech of Mr Subroto Bagchi, Vice-Chairman and Gardener, MindTree Ltd, at an event organised by Business Line in Bangalore recently. The first...

Low offerings at Kolkata tea sale.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Kolkata, Feb 27 - Last week, at Sale 8, there were no offerings (packages) at Guwahati and Siliguri - signalling closure of the season, according to J Thomas & Company Pvt Ltd., the tea auctioneers. At...

Gold asserts haven status, may rise further.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Mumbai, Feb 27 - Uncertainty following the ongoing political turmoil in the MENA (Middle East North Africa) region has resulted in volatile and choppy conditions across global commodity markets in recent...

Pepper turns volatile on Vietnamese crop hopes.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Kochi, Feb 27 - Pepper market world over appeared to be sluggish during the week as buyers were quietly waiting for the new Vietnamese crop to enter the market in a big way and the prices to drop. It may...

Tea industry urged to lure youngsters with better amenities.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Coimbatore, Feb 27 - While the problem of labour in agriculture is not new, the issue in this belt is unlike other agri-oriented zones. "It is not availability of labour, but presence of labour itself,"...

Poor response to Tea Fund from South.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Coimbatore, Feb 27 - Tea Board Executive Director, Mr R. Ambalavanan, voiced concern over the poor performance of the Special Purpose Tea Fund (SPTF) scheme, especially by the tea gardens in the South. He...

Cloves soar on supply squeeze.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Kochi, Feb 27 - Cloves prices have shot up in the Indian and international markets on severe shortage caused by crop damage in several producing countries. Trade sources told Business Line that there were...

Fresh westerly system likely to get a look-in from today.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Thiruvananthapuram, Feb 27 - A western disturbance expected to check into Northwest India is seen as making a pincer-like approach from across the border, starting Monday. Global models show the system as...

Chambers of commerce rue increase in VAT rates.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Hubli, Feb 27 - Chambers of commerce in Karnataka are upset over the increase in value added tax (VAT) rates from 13.5 per cent to 14 per cent. Chambers earlier in the month during the pre-budget...

Tata Relief Committee delivers houses to flood-hit villagers.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Hubli, Feb 27 - Tata Steel, an integrated private sector steel major, plans to set up a 3-mt (million tonnes) per annum capacity steel plant in Karnataka. Mr H M Nerurkar, managing director of Tata Steel...

'Corporate e-governance will help curb corruption'.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Visakhapatnam, Feb 27 - In view of the many scams and scandals shaking the nation of late, it is absolutely essential to make use of the tools offered by the information technology to improve corporate...

Chamber hails Railway Budget.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Madurai, Feb 27 - The Railway Budget for 2011-12, presented by the Railway Minister, Ms Mamata Banerjee, is passenger-friendly and industry-benevolent, Tamil Nadu Chamber of Commerce and Industry, has said....

Railway Budget has ignored pending demands: Minister.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Kozhikode, Feb 27 - The Railway Budget has ignored Kerala's long-pending demands and the State Government will register its protest in the Parliament, the Minister for Public works, Mr M. Vijayakumar, has...

Maharashtra, Gujarat lead in export of goods.
February 28, 2011... from BUSINESS LINE, February 28, 2011 New Delhi, Feb 27 - Maharashtra and Gujarat are the leading goods exporters among the States and they account for nearly half of the country's total shipments, according to the Economic Survey. The data...

Australia's exports to India touch $22 b.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Kochi, Feb 27 - Trade between India and Australia has been growing at a fast pace and Australia's exports to India touched $22 billion last year and 80 per cent was in the resources sector, according to Mr...

Maldives mulls mid-market packages for Indian tourists.
February 28, 2011... from BUSINESS LINE, February 28, 2011 New Delhi, Feb 27 - Till now a getaway of the well-heeled tourist, Maldives is now developing mid-market tourism packages to attract more tourists, including those from neighbouring India. "We will...

Vasan urges speedy execution of Chennai port-Maduravayol expressway.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Chennai, Feb 27 - The final hurdle for commissioning the Rs 1,655-crore road project connecting Chennai port and Maduravayol has been cleared with the Union Environment Ministry giving the green signal on...

Cruise ship on way to Libya to evacuate stranded Indians.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Chennai, Feb 27 - A cruise ship and two navy ships will be sent to Libya to help Indians stranded in the war-torn country come back home, according to Union Shipping Minister, Mr G.K. Vasan. A cruise ship is...

Orissa has highest incidence of poverty: Survey.
February 28, 2011... from BUSINESS LINE, February 28, 2011 New Delhi, Feb 27 - In order to map the progress of States in terms of their social parameters, the Economic Survey for the first time highlights inclusive development by including nuggets from the 2001...

New double-decker bus takes to the roads.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Kochi, Feb 27 - The State Transport Minister, Mr Jose Thettayil, flagged off the newly inducted double-decker of the KSRTC from the Vytilla bus terminal- cum-mobility hub, which was commissioned here on...

New headquarters of Air India Express inaugurated in Kochi.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Kochi, Feb 27 - The Union Civil Aviation Minister, Mr Vayalar Ravi, on Sunday inaugurated the corporate headquarters of Air India Express (AIE), the low-cost subsidiary of Air India, which was shifted from...

New science lab, library block of HMT School inaugurated.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Kochi, Feb 27 - The Union Minister for Human Resources Development and Communication and Information Technology, Mr Kapil Sibal, on Sunday handed over the keys of the science laboratories and library block...

Call to modernise TN's coir sector.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Kochi, Feb 27 - The Union Home Minister, Mr P. Chidambaram, has called for the speedy modernisation of the traditional coir sector in Tamil Nadu and concentration on export of value-added products that are...

2G scam: Swamy to move Court on security angle.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Mangalore, Feb 27 - The Janata Party President, Dr Subramanian Swamy, has said that he will move a special application before the Supreme Court on March 1, where he will bring the national security angle...

Ramanasri introduces Varshi tea, plans manufacturing unit.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Hyderabad, Feb 27 - The Ramanasri Group, on Sunday announced the launch of Varshi brand tea in the market, their fifth product introduced in the market since June 2010. Initially, this will be introduced...

TMI launches e2E Academy to train graduates.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Hyderabad, Feb 27 - Talent Management International (TMI) in partnership with the National Skill Development Corporation (NSDC) has launched e2E Academy here to address the growing shortage of people with...

Kudumbashree invited to Commonwealth forum.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Thiruvananthapuram, Feb 27 - Kudumbashree, Kerala Government's self-help mission for poverty eradication and women empowerment, has been granted a rare invitation to take part in a conference of the...

Railway Budget finds favour with State Council of CII.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Thiruvananthapuram, Feb 27 - The Union Railway Budget 2011-12 has found favour with the Kerala State Council of the Confederation of Indian Industry (CII). According to Mr P. Ganesh, Chairman, CII Kerala...

How is a leader different from a manager.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Bangalore, Feb 27 - If you join an organisation with dreams, then do not allow negative thinkers there to shatter your dreams. Delivering a lecture "Leadership - A view from HR" organised by the BL Club...

Economic Survey sees fall in fiscal deficit this year.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Bangalore, Feb 27 - The Economic Survey 2010-11 estimates the combined fiscal deficit of the Centre and States at 7.3 per cent of the Gross Domestic Product, against 9.5 per cent in 2009-10. Stating that...

Thank you, IPL, for keeping cricket 'cool'.
February 28, 2011... from BUSINESS LINE, February 28, 2011 Mumbai, Feb 27 - A seasoned advertising professional, Srinivasan Swamy of R.K. Swamy, BBDO, once reasoned that the aura of South Indian 'superstar' Rajinikant is explained by his 'normal', 'man next door'...

Investing in international funds.
February 27, 2011... from BUSINESS LINE, February 27, 2011 Investing in international funds is no different from investing in a regular equity-oriented fund. Such funds either invest your money directly in foreign stocks (say, a Unilever or Exxon Mobil) or use the...

Cotton output estimate cut 5%.
February 27, 2011... from BUSINESS LINE, February 27, 2011 Mumbai, Feb. 26 - The Cotton Advisory Board (CAB) on Saturday lowered production estimate by five per cent to 312 lakh bales (lb) for the season ending September. Mr A.B. Joshi, Textile Commissioner,...

Pranab may tinker with levies to avoid fuel price hike.
February 27, 2011... from BUSINESS LINE, February 27, 2011 New Delhi, Feb. 26 - Expectations are running high that the Finance Minster, Mr Pranab Mukherjee, will cushion consumers from the impact of the soaring international crude oil prices by reducing duties on...

Returns from funds with foreign focus outstrip India-centric MFs.
February 27, 2011... from BUSINESS LINE, February 27, 2011 While top mutual funds that invested in Indian stocks delivered less than one per cent return over the last six months, those with a focus on stocks listed overseas (international funds) delivered a 14 per...

SAIL told to set up greenfield plants.
February 27, 2011... from BUSINESS LINE, February 27, 2011 New Delhi, Feb. 26 - The Standing Committee on Coal and Steel has urged Steel Authority of India Ltd (SAIL) to go in for greenfield projects. With private sector players together setting up nearly 100...

Nalco chief suspended; EGM on March 5.
February 27, 2011... from BUSINESS LINE, February 27, 2011 New Delhi, Feb. 26 - The Centre on Saturday suspended Mr A.K. Srivastava, Chairman and Managing Director of the National Aluminium Company Ltd (Nalco), following his arrest by the Central Bureau of...

Cognizant doubles bonus for top executives.
February 27, 2011... from BUSINESS LINE, February 27, 2011 Chennai, Feb. 26 - Cognizant Technology Solutions, the Nasdaq listed software company, has nearly doubled its bonus amount to its top executives for the year 2010. While the company had in the beginning of...

US staffer charges Infosys with visa fraud.
February 27, 2011... from BUSINESS LINE, February 27, 2011 Washington, Feb. 26 - An American employee of Infosys has filed a case against the company accusing it of visa and tax fraud. In his complaint filed before an Alabama Court early this week, Mr Jack Palmer...

MandM's TN plans close to finalisation.
February 27, 2011... from BUSINESS LINE, February 27, 2011 Chennai, Feb. 26 - Mahindra and Mahindra plans to set up an automotive plant in Tamil Nadu for which the Government has allocated land and a structured package of incentives. The automobile manufacturer...

Survey opposes cap on MFI interest rates.
February 27, 2011... from BUSINESS LINE, February 27, 2011 New Delhi, Feb. 26 - The Economic Survey has indicated that it is opposed to capping interest rates charged by Micro Finance Institutions (MFI). In January, the Malegam Committee constituted by the RBI to...

UK grapples with Libyan connections.
February 27, 2011... from BUSINESS LINE, February 27, 2011 London, Feb. 26 - It has some of the world's most expensive real estate, providing an international pad for billionaires and leaders from across the world. So, unsurprisingly, London has not been bypassed by...

Direct taxes, a 'major source' for development work.
February 27, 2011... from BUSINESS LINE, February 27, 2011 New Delhi, Feb. 26 - The Finance Minister, Mr Pranab Mukherjee, on Saturday said that direct taxes are now the major resource provider to the Union Government for undertaking developmental work. He said...

Bulk coal movers silent on Railway Budget.
February 27, 2011... from BUSINESS LINE, February 27, 2011 Kolkata, Feb. 26 - As a group, coal producing and consuming companies - such as the power sector - are the largest user of railway services, contributing nearly 25 per cent of the gross earnings and 40 per...

S. Indian exporters urge Govt to resume exports of non-basmati rice.
February 27, 2011... from BUSINESS LINE, February 27, 2011 New Delhi, Feb. 26 - The South India Rice Exporters Association has urged the Government to expedite the partial lifting of ban on export of premium non-basmati rice varieties. In a communication to the...

Spot rubber turns weak.
February 27, 2011... from BUSINESS LINE, February 27, 2011 Kottayam, Feb. 26 - Spot rubber finished weak on Saturday. The market opened sharply lower but regained the initial losses partially on covering purchases following a recovery in domestic futures on late...

Gold, silver prices recover.
February 27, 2011... from BUSINESS LINE, February 27, 2011 Mumbai, Feb. 26 - Silver prices recovered sharply to a new high on the bullion market on Saturday on hectic speculative buying amid industrial demand, despite subdued global trend. The yellow metal too,...

Sectors pinning hopes on the Budget.
February 27, 2011... from BUSINESS LINE, February 27, 2011 The Union Budget threatens to be quite a task for the Finance Minister, Mr Pranab Mukherjee, given the backdrop of rising inflation, firming interest rates and a worrying deficit. Though we will know...

Agri-commodities at centre-stage.
February 27, 2011... from BUSINESS LINE, February 27, 2011 The Budget is likely to see quite a few tariff and trade-related measures to lift domestic availability of key agri-commodities or food products that are in short supply. These could take the form of...

How to side-step oil price risks.
February 27, 2011... from BUSINESS LINE, February 27, 2011 Ever played whac-a-mole in an amusement park? It's a popular game where you score points by taking a whack at annoying mole-like creatures that keep popping up from holes in a wooden cabinet. Investing in...