Business Line articles from March 2006

Business Line archives from March 2006

Bursting with energy.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Companies that make batteries for fighter aircraft and battle tanks, steel towers for windmills, boilers for power plants and dried bananas for the domestic market, they are all...

Health insurance premium may vary from one location to another.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Mumbai, March 30 - Can the health insurance premium paid by a Mumbai resident be more than that paid by a Chennai resident, on the strength of the geographical location, other...

Panel for full transfer of property in aviation.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 New Delhi, March 30 - In a move that should facilitate the eventual buyout of Air Sahara by Jet Airways and help mergers and acquisitions in the domestic airline industry, the...

STC may export 3 lakh t sugar.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 New Delhi, March 30 - The Union Minister for Agriculture, Mr Sharad Pawar, today said that the Government would allow State Trading Corporation (STC) to export up to 3-4 lakh tonnes...

Sensex hits new high, up 124 pts.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Mumbai, March 30 - The stock markets continued to scale new highs on Thursday with the benchmark BSE 30-share Sensex gaining 123.56 points to touch 11307.04. This is the fifth...

Fund houses line up global products.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Mumbai, March 30 - Finally, there seems to be good news for investors keen on overseas investments. With the Finance Minister, Mr P. Chidambaram, relaxing global investment norms...

A beehive of industry and optimism.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 For a better part of its 2,000-year history, Tiruchi represented a covetable piece of land on the banks of a perennial river worth fighting a war for. The Cholas, Pallavas, Pandyas,...

Warburg picks 7% in Dainik Bhaskar.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Mumbai, March 30 - Global private equity fund Warburg Pincus is believed to have picked up seven per cent stake in Hindi newspaper Dainik Bhaskar for a consideration of Rs 150...

Sterlite Optical share allotment.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Mumbai, March 30 - Sterlite Optical Technologies Ltd has informed the Bombay Stock exchange that the committee of directors constituted for preferential allotment, at its meeting...

Pennar assets in Hindalco custody.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Hyderabad, March 30 - Pennar Aluminium Company Ltd has announced that Hindalco has taken custody of its assets through sale of entire property by the Asset Reconstruction Company...

Mittal takes stake in Indiabulls Credit.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 New Delhi, March 30 - NRI steel magnate Mr L.N. Mittal's company has picked up an eight per cent stake in Indiabulls Credit for around Rs 90 crore. Mittal-promoted LNM India...

Zee announces share swap ratio.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Mumbai, March 30 - Zee Telefilms Ltd (ZTL) announced that Zee News Ltd would allot 137 shares for every 100 held in ZTL The company had announced a restructuring plan on...

Myanmar okays GAIL plan to buy stake in A-3 Block.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 New Delhi, March 30 - The Government of Myanmar has approved a plan by GAIL India (Ltd) to own a 10 per cent stake in an offshore gas and oil project called the A-3 Block, the...

Advinus set for Rs 22-cr expansion in Bangalore.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Bangalore, March 30 - Advinus Therapeutics, the Tata Group-promoted drug discovery and contract research entity, is in an expansion mode in Bangalore and looking for a large, second...

Glaxo's patent on AIDS drug opposed.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Mumbai, March 30 - People living with HIV/AIDS are taking on drug major GlaxoSmithKline's efforts to patent its AIDS-medicine Combivir in India The Manipur Network of Positive...

Mumbai co set to buy Nagarjuna Agri Tech.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Hyderabad, March 30 - Subhkam Group of Mumbai, promoted by Mr Rakesh S. Kathotia, is all set to acquire controlling stake in Nagarjuna Agri Tech Ltd (NATL), part of the...

Ranbaxy scores hat-trick with Belgian buy.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 New Delhi, March 30 - Ranbaxy Laboratories Ltd is on a shopping spree in Europe. Ethimed NV of Belgium is the third acquisition for the domestic pharmaceutical company this week,...

South drives tractor sales to new peak.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 New Delhi, March 30 - Tractor sales are set to clock an all time high this fiscal. In fact, the industry will be closing at about 285,000 units, significantly more than the previous...

FCI OEN net profit up 49 pc.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Kochi, March 30 - FCI OEN's net profit has grown by 49 per cent to Rs 17.6 crore (Rs 11.8 crore) for the calendar year 2005. The company's Board of Directors has recommended a...

Kamdhenu Ispat to set up 5 stockyards.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 New Delhi, March 30 - The Delhi-based construction steel manufacturer Kamdhenu Ispat Ltd, which is hitting the market on Monday with its maiden issue of 1.28 lakh equity shares,...

Business in banana country.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Bananas can take Tiruchi places, if only the current trend of fruit processing takes hold, according to growers and processors Tiruchi not only accounts for 10 per cent of Tamil...

CCEA clears Lakhanpur mine expansion.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 New Delhi, March 30 - The Cabinet Committee on Economic Affairs (CCEA) on Thursday approved floating of tenders for the Lakhanpur opencast coal mining project's expansion plans in...

EEPC celebrates golden jubilee.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 New Delhi, March 30 - The Engineering Exports Promotion Council (EEPC) today celebrated its golden jubilee with the Delhi Chief Minister, Ms Sheila Dixit, lighting the lamps ...

Micro finance attracts high interest at B-schools.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 New Delhi, March 30 - Micro finance is a subject that is spurring major interest at management campuses. At the Indian Institute of Management-Ahmedabad, the number of students...

Call for India, US partnership.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 New Delhi, March 30 - It would be in the interest of both India and the US to partner with each other as India progresses on higher growth path, said the US Ambassador to India, Mr...

TDSAT disallows TRAI show cause to BSNL on interconnection.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 New Delhi, March 30 - The Telecom Disputes Settlement Appellate Tribunal (TDSAT) has disallowed a show cause notice sent by the Telecom Regulatory Authority of India to Bharat...

Lufthansa studying new destinations.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Bangalore, March 30 - Lufthansa is contemplating enhancing the capacity to Bangalore by inducting larger aircraft The IT capital, which has emerged as its third largest market,...

Govt set to meet revised estimates for indirect taxes.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 New Delhi, March 30 - The Government is well on course to achieving the revised estimate targets of indirect tax collections for 2005-06, a top Finance Ministry official said ...

States for increasing professional tax cap.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Bangalore, March 30 - Faced with revenue constraints, some States have approached the Centre for enhancement of the professional tax ceiling Sources said that almost all the...

STC sees 33 pc rise in turnover.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Mumbai, March 30 - State Trading Corporation of India Ltd (STC) has signed a memorandum of understanding with the Ministry of Commerce for 2006-07 Dr Arvind Pandalai, STC...

Rice mills turn to modernisation.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Rice mills in Tiruchi are emerging out of a shell after the last few decades of controlled existence under the monopoly system of the State Government. With that era passing and the...

Fair winds.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Fabricating windmill towers is powering the growth of engineering industries in Tiruchi. The district makes about 60 per cent of the windmill tower requirement in the country ...

SlashSupport in pact with Japan co.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Chennai, March 29 - SlashSupport, a CSS Group company, has signed a multi-year infrastructure management service deal with NTT Communications Corporation (NTT Com), Japan. The...

Cognizant SAP test centre.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Chennai, March 30 - Cognizant Technology Solutions has opened a SAP NetWeaver Test Centre at the company's techno-complex in Bangalore The company is making increased investment...

Philip Chacko joins Four Soft.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Hyderabad, March 30 - Four Soft Ltd has inducted Mr Philip Chacko as Senior General Manager for Asia. He was the General Manager of Hyderabad International Airport Ltd, which is...

i-flex partners IFBS.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Bangalore, March 30 - i-flex Solutions has partnered with the Zurich-based International Financial Business Solutions (IFBS) for integration services. IFBS provides securities...

Hughes plans long distance telephony.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 New Delhi, March 30 - The US-based networking major Hughes Networks plans to roll out the country's first long distance telephony network based on satellite technology The...

Nasscom, Dutch agency sign outsourcing pact.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 New Delhi, March 30 - IT association Nasscom in collaboration with Dutch Centre for the Promotion of Imports from Developing Countries (CBI) on Thursday announced an export...

Software industry told to innovate or perish.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Chennai, March 30 - Innovate or perish, and innovation should begin at the top management level, were some of the messages for the software industry by speakers at a panel...

Integreon plans facility in London.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 New Delhi, March 30 - The business process outsourcing (BPO) company, Integreon, is planning to set up a delivery centre in London with an initial capacity of 50 seats, even as it...

CDMA players unhappy with new spectrum policy.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 New Delhi, March 30 - The quality of mobile services is set to improve, with the Department of Telecom announcing its spectrum allocation policy whereby operators with higher...

Truetones is the next in-thing.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Bangalore, March 30 - Truetones, bits of a song track that can be downloaded and used as ring and ring-back tones in mobiles, will revolutionise mobiles and bring legalised music...

Infosys joins SEC's pilot project.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Bangalore, March 30 - Infosys Technologies Ltd is among 17 global companies that have agreed to participate in a new pilot programme of the Securities and Exchange Commission of the...

Corp Bank to stay open longer today.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Bangalore, March 30 - In order to facilitate the payment of direct and indirect taxes by the assessees, Corporation Bank has decided to keep open the authorised branches across the...

LVB raises FCNR deposit rates.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Coimbatore, March 30 - Lakshmi Vilas Bank has effected an upward revision of the FCNR deposit rates for all currencies from March 29 The US dollar deposit with tenure of one and...

ICICI Bank hikes FCNR deposit rates.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Mumbai, March 30 - ICICI Bank has raised the interest rates on FCNR deposits for all tenures and currencies, except the yen, by 25 basis points. The interest rate for one-year FCNR...

RBI to hold additional LAF today.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Mumbai, March 30 - The Reserve Bank of India would hold an additional Liquidity Adjustment Facility on March 31 between 9 p.m and 9.30 p.m. The additional LAF has been put in...

Conduct code for banks selling OTC derivatives.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Mumbai, March 30 - A code of conduct is being worked out for banks offering over-the-counter derivative instruments to corporates. The objective of this is to ensure that buyers of...

Federal Bank completes listing on LSE.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Kochi, March 30 - Marking the culmination of the Rs 350-crore GDR issue of Federal Bank, Mr Hugh Sandeman, Head of Business Development for India, London Stock Exchange, handed over...

IPO issuers can have liability cover.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Coimbatore, March 30 - Select insurers - both private players and government-owned companies, offer a cover to protect Indian companies from enhanced risk exposures when they make a...

SBT in pact with Rail Catering.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Thiruvananthapuram, March 30 - State Bank of Travancore (SBT) has tied up with the Indian Railway Catering and Tourism Corporation (IRCTC) to extend online railway ticket...

PNB hikes FCNR(B) deposit rates.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 New Delhi, March 30 - Punjab National Bank (PNB) has revised interest rates on its foreign currency non-residents (banks) scheme for the US dollar, pounds sterling, euro and...

Darashaw invests Rs 200 cr in IOB.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Chennai, March 30 - Darashaw & Co, a Mumbai-based securities firm, has invested Rs 200 crore in Indian Overseas Bank (IOB), picking up the entire offering of perpetual bonds issued...

Kochi strike: Cargo diverted to other ports.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Kochi, March 30 - The ongoing strike by the container trailer crew at Cochin Port Trust has started adversely impacting the trade with cargo getting diverted to neighbouring ports...

Kolkata set to clock 15% growth in traffic.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Kolkata, March 30 - Kolkata port is all set to end the current fiscal with a total traffic of 53 million tonnes (mt) compared to 46.21 mt in 2004-05, registering a growth of about...

KRL mooring facility to be ready by May 2007.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Kochi, March 30 - The Rs 623-crore single point mooring (SPM) project of Kochi Refineries Ltd (KRL) is likely to be commissioned before the scheduled May 2007, if the current pace...

'Infomedia seeks push from three growth engines'.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 There has been much momentum at Infomedia India Ltd ever since ICICI Group came in as main equity holder. Present as venture capitalist, would the financier desire to trim its stake...

Dettol rolls out hygiene campaign in Chennai.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Chennai, March 30 - Dettol, the signature product of Reckitt Benckiser, which manufactures household and cleaning products, has a 60 per cent market share of the handwash segment of...

MRTPC pulls up Reebok for differential commission.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 New Delhi, March 30 - Sporting goods major Reebok India has been pulled up by the Monopolises & Restrictive Trade Practices Commission (MRTPC) for indulging in restrictive trade...

Tanishq eyes export market.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Pune, March 30 - Tanishq will add 8-10 exclusive showrooms across the country over the next year as part of its plan to become a dominant player in the jewellery business The...

K Sera Sera plans Rs 250-cr investment.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Mumbai, March 30 - K Sera Sera Productions Ltd said it plans to invest Rs 250 crore to produce 20 Hindi movies over the next two years The film production and television content...

Starcom bags Alkem Lab account.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Mumbai, March 30 - Starcom MediaVest Group has been appointed the media planning and buying AOR (agency of record) by Alkem Laboratories The appointment is one of the first and...

Harish Bhat returns to Titan.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Chennai, March 30 - Harish Bhat, presently President, Marketing, Tata Teleservices Ltd, will be joining Titan Industries as the Chief Operating Officer of the time products...

Paramount to connect Hyderabad.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Hyderabad, March 30 - Yet another airline is starting its operations in Hyderabad beginning April 11. Paramount Airways, the Coimbatore-based new airline, will start daily services...

Kingfisher unveils route deployment plan for ATRs.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Toulouse, March 30 - Kingfisher Airlines has unveiled its route deployment plan for ATRs with the initial six being deployed on routes in South India The Chairman and Managing...

UNIDO chief for sops to boost pro-poor growth.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 New Delhi, March 30 - The Director-General of United Nations Industrial Development Organisation (UNIDO), Dr Kandeh K. Yumkella, announced the establishment of a South-South...

Clarification on tax exemption.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 New Delhi, March 30 - The Finance Ministry clarified on Thursday that the tax benefits under Section 54EC of the Income-Tax law would not be available on long-term capital gains...

IOC flags off petrochem complex at Paradip.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 New Delhi, March 30 - Indian Oil Corporation (IOC) has flagged off a 15-million tonnes per annum (MTPA) grassroots refinery-cum-petrochemicals project at Paradip in Orissa The...

Power-driven pump units get more time for certification.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 New Delhi, March 30 - The Government has given more time to units manufacturing power-driven pumps, designed to handle water, to obtain Bureau of Indian Standards (BIS)...

Cabinet okays release of interest relief to farmers.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 New Delhi, March 30 - The Cabinet today approved release of Rs 1,700 crore for providing interest relief on crop loans obtained by farmers for kharif and rabi 2005-06 The...

DMK's manifesto.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Within living memory there has been nothing that comes anywhere near the election manifesto of the DMK. It is an incredible cascade of bonanzas: One feels fazed and dazed by even a...

Capital Account Convertibility: Not an open-and-shut case.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 In the last 25 years many countries have, either voluntarily or under duress by the IMF, opened their doors facilitating full conversion of their currency and unconditional influx...

Hawking India's soul?
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 It was indeed truly ironic. On the verge of concluding a historic agreement that would de facto allow India become an acknowledged nuclear weapon state, the actors in the play paid...

PROFITING FROM OFFICE.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 The Government has set the ball rolling to resolve the vexatious question of what functionaries would need to be kept outside the purview of the constitutional bar on holding...

RBI must raise deposit rates.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 The Reserve Bank of India should raise the deposit rates. It is a fair enough solution. By keeping the status quo on CRR, the RBI would earn more interest on its borrowings from...

The truth.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 This is with reference to, "Feel the truth, speak the truth," (Business Line, March 27): Gandhiji also gave first place to truth And it shows how mothers can be the tool to...

Common entrance test.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 At last the Tamil Nadu Government has announced that the Common Entrance Test (CET) to professional courses for the academic year 2006 would be held on May 13 and 14 The...

'Bidding' for information.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Corporate wars are no less than regular warfare where early information about the opponent's plans help strategise better. So, it was not surprising that Mr L. N. Mittal's 'men'...

For the long-haul.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 The drama over the modernisation of Delhi and Mumbai airports may no longer grab headlines, but the parties involved appear to be settling down for a long haul before a decision...

Endorsement for pan masala?
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 The Health Minister, Mr Anbumani Ramadoss, should take note. The Railway Minister, Mr Lalu Prasad, seems to be inadvertently promoting the consumption of pan masala. At a recent...

Low on long-term vision for economy.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 The Economic Survey is thought to set the tone for the Budget. But this year the Budget has not quite addressed the concerns raised by the Survey such as pricing of petroleum...

Budget scrimps on support for infrastructure.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 The Economic Survey yet again emphasised the availability of quality infrastructure for achieving 10 per cent economic growth However, the Budget response seems grossly...

ESCAP report: Of opportunities, challenges.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 With 53 members and nine associates, the Economic and Social Commission for Asia and the Pacific (ESCAP) of the United Nations undoubtedly touches a large section of the planet's...

'Adulteration rampant in edible oils'.
March 31, 2006... (From Business Line) from BUSINESS LINE, March 31, 2006 Chennai, March 30 - The Union Government should modernise and stringently regulate quality inspection of edible oils as adulteration is rampant, according to Mr K. Paramasivan,...