India Business Insight articles from September 2006

India Business Insight archives from September 2006

GERMAN EQUIPMENT OUTFIT TO EXPAND IN INDIA (with their third plant in Chennai).
September 29, 2006... (From India Business Insight) Schwing GmbH, the ready-mix concrete and equipment manufacturer of Germany will set up their third plant in Chennai. The plant, spread over a 10-acre plot, will be an export hub. The company will manufacture...

BRAILLE MAPS IN BENGALI (NATMO developing maps in 12 regional languages).
September 29, 2006... (From India Business Insight) The National Atlas and Thematic Mapping Organisation (NATMO), Kolkota, a unit of the Ministry of Science and Technology, Government of India, is developing Braille map in Bengali. NATMO has Braille atlas...

NRS 2006: BUSINESS PUBLICATIONS READERSHIP (magazines performed better than newspapers in the business publications category).
September 29, 2006... (From India Business Insight) The National Readership Survey (NRS) 2006 has revealed that the readership of The Economic Times and The Hindu Business Line have declined and the readership of Financial Express has increased only by 36,000...

NRS 2006: C&S REGISTERS 12% GROWTH; MOBILE & INTERNET ATTRACT ATTENTION (press and television will closely watch the mobile phone segment, as it will become a force to reckon with).
September 29, 2006... (From India Business Insight) The National Readership Survey (NRS) 2006 has revealed that television reaches 112 million Indian homes. The homes with access to cable and satellite (C&S) television have increased by 12 percent from 61...

RADIO TUG-OF-WAR (between Radio City and Radio Mirchi).
September 29, 2006... (From India Business Insight) The National Readership Survey (NRS) 2006 has revealed that Radio City has got the highest total number of listeners at 13.4 million across Mumbai, Delhi and Bangalore. The consolidated listenership for...

ARE YOU GAME FOR PRINCE OF KURUKSHETRA? (television news channels are getting into the reality mode).
September 29, 2006... (From India Business Insight) The television news channels are getting into the reality mode. Zee News and Games2Win have introduced a computer game, Prince of Kurukshetra, based on a real-life incident. Games2Win has conceptualised,...

UTV, DOORDARSHAN CREATE CHAMATKAR (UTV launches a science show Chamatkar in association with ISRO and Vigyan Prasar).
September 29, 2006... (From India Business Insight) UTV has launched a science show, Chamatkar, on national television, Doordarshan, from 3 Sep 2006. The programme will be prepared in association with Indian Space Research Organisation (ISRO) and Vigyan...

NIRLEP APPLIANCES AT HPCL, BPCL OUTLETS (to strengthen relationship with their existing consumers).
September 29, 2006... (From India Business Insight) Nirlep Appliances has signed a memorandum of understanding with Hindustan Petroleum Corporation Limited (HPCL) for marketing non- stick cookware, pressure cookers and gas stoves, at HPCL outlets. The HPCL...

SOPHOI INC OUTLINES EXPANSION PLANS FOR INDIA (to increase its employee strength from 85 to over 170).
September 29, 2006... (From India Business Insight) Sophoi Inc proposes to expand its operations in India. It intends to increase its employee strength in Pune from 85 to over 170 in 2006. It is also planning to double its current office space to expand,...

OXFORD CONNECTS WITH BOOK LOVERS THE MOBILE WAY (Oxford Bookstore launches an interactive Short Message Service to update on new releases).
September 29, 2006... (From India Business Insight) Oxford Bookstore has launched an interactive Short Message Service (SMS) to update booklovers on new releases and bestsellers on their mobile phones. Oxford, in an alliance with Mobile 365, has introduced...

AVP COIMBATORE TO SET UP FIRST AYURVEDA HOSPITAL IN PAKISTAN (change from allopathy to ayurveda).
September 29, 2006... (From India Business Insight) Mehrunnisa Hospital Trust of Pakistan had started civil work on a98,112-foot allopathic hospital, when the promoter underwent treatment in Arya Vaidya Pharmacy (Coimbatore). The trust has now opted for...

LBMI TO TIE UP WITH INDIAN HOSPITALS FOR TELEMEDICINE (LBMI is from The Netherlands).
September 29, 2006... (From India Business Insight) Laboratory for Biomedical Informatics of The Netherlands plans to set up telemedicine association with Indian hospitals. Its director has already visited India in this connection and discussed the issue...

HCL INTRODUCES EQUIPMENT LOG MANAGER FOR PHARMA INDUSTRY (for current good manufacturing practices).
September 29, 2006... (From India Business Insight) HCL Technologies has launched what it calls Equipment Log Manager to enable pharmaceutical industry to go for current good manufacturing practices (cGMP). With cGMP, the industry can cope with the norms of US...

LUCKNOW BIOTECH PARK TO BE INAUGURATED IN OCT (with an investment of Rs12.5 crore, not including land cost).
September 29, 2006... (From India Business Insight) Shanta Biotech is the first biotech company to take an R&D facility in Lucknow Biotech Park, a joint venture between Department of Biotechnology, Government of India and Uttar Pradesh Government. ...

GHCL ACQUIRES ROSEBYS OF UK (the largest home textile retail chain company for $40 million).
September 29, 2006... (From India Business Insight) Gujarat Heavy Chemicals Ltd (GHCL) has acquired Rosebys, the largest home textile retail chain company of the UK, for $40 million. The acquisition is likely to be completed by Oct 2006. Rosebys has a...

LIVE-IN: YOU CANNOT LIVE WITHOUT IT (will open showrooms in Mangalore, Mumbai, Delhi, Punjab and Agra by mid-Jul, 2006).
September 29, 2006... (From India Business Insight) Live-in has opened 10 exclusive showrooms in Bangalore, Mysore, Hyderabad and Kerala. The company will open showrooms in Mangalore, Mumbai, Delhi, Punjab and Agra by mid-Jul, 2006. The brand will...

TECH KIDZ JOINT VENTURE (will add 100 franchise outlets to its existing 100 dealers and 1,000 public schools across India).
September 29, 2006... (From India Business Insight) Tech-Kidz (TK) has tied up with Music World (MW) outlets in National Capital Region (NCR), Delhi. The MW outlets will stock a wide range of educational CDs, robots, educational computers, magnetic kits and...

COOKIEMAN TARGETS 54 OUTLETS (reserves space at malls in Pune, Ludhiana, Indore, Jaipur and Chandigarh).
September 29, 2006... (From India Business Insight) Cookie Man (CM) of Australia is targeting to open 14 mother shops and 40 express shops in different malls, besides set-ups in airports and petrol bunks, by 2007. Cookie Man operates in India through a 50:50...

POWER RANGERS INDIA'S BIGGEST KIDS FRANCHISE (has launched a range of authentic merchandise connected to the Power Rangers SPD television show).
September 29, 2006... (From India Business Insight) The Walt Disney Company in India has launched the Power Rangers SPD (Space Petrol Delta) franchise in India. It has launched a range of authentic and original merchandise, including toys, books, clothes and...

POPULAR CAR WORLD TO OPEN 200 FRANCHISES (to open franchise centres in Ahmedabad, Surat, Vadodara, Rajkot and all major cities in Gujarat).
September 29, 2006... (From India Business Insight) Popular Car World of Mumbai will open more than 200 franchise centres across India. The company is a major dealer of used cars in Maharashtra. Popular Car World will open franchise centres in Ahmedabad,...

MY DOLLAR STORE TO EXPAND (company will add 70 stores to the existing 26 outlets by Aug 2006).
September 29, 2006... (From India Business Insight) My Dollar Store (MDS) of the US plans to step up its retail presence in India. The company will add 70 stores to the existing 26 outlets by Aug 2006. MDS will set up smaller (about 700 square feet) Express...

MARGINAL INCREASE IN IMPORT OF SENSITIVE AGRI-PRODUCTS (registering a growth of 10.6%).
September 29, 2006... (From India Business Insight) The total import of sensitive agri-products was Rs2,792 crore during Apr-May 2006 as against Rs2,524 crore in Apr-May 2005, registering a growth of 10.6 percent. The import of sensitive items were 2.4...

BENGAL GOVT, APEDA PLAN CARGO COMPLEX (APDEA to finance Rs5.4 crore for the project).
September 29, 2006... (From India Business Insight) The Food Processing Department, Government of West Bengal, has planned to set up a cargo complex for perishable products in Kolkata. The Agricultural and Processed Food Products Export Development...

PARLE EYES NORTHERN BISCUIT MARKET (with setting up a biscuit manufacturing unit in Uttar Pradesh).
September 29, 2006... (From India Business Insight) Parle Products Ltd, a Mumbai-based biscuit manufacturing company, has planned to set up a manufacturing unit in Uttar Pradesh. Uttar Pradesh is India's largest biscuit market with Priyagold as the dominant...

Rs360-CR PACKAGE TO BAIL OUT KARNATAKA SUGAR MILLS (ailing cooperative sugar mills will receive the monetary help as working capital).
September 29, 2006... (From India Business Insight) The Government of Karnataka has decided to help the loss-making sugar mills in the State with a Rs360-crore financial package. The Government will borrow the money from the National Cooperative Development...

PUNJAB AGRI FOOD TO SPREAD ITS OPERATIONS (to Uttaranchal, Karnataka, Gujarat and Rajasthan).
September 29, 2006... (From India Business Insight) Punjab Agri Food Parks Limited will set up its hubs in Uttaranchal, Karnataka, Gujarat and Rajasthan. The hubs will replicate the hub in Punjab with an investment of RS300 crore. The model hub at...

CONFECTIONERY MARKET TO SEE MORE ACTION (with launching of new products and adoption of new marketing strategies).
September 29, 2006... (From India Business Insight) The stagnant Indian confectionery market (Rs1,500 crore) will see more action with launching of new products and adoption of new marketing strategies. Godrej Beverages and Foods Ltd (GBFL), which has...

COSTA COFFEE TO EXPAND PRESENCE (will open 35 outlets in metros and tier II and tier III cities during 2006-2007).
September 29, 2006... (From India Business Insight) COSTA Coffee, the British coffee retail chain, will open 35 outlets in metros and tier II and tier III cities during 2006- 2007. The company will invest Rs25-Rs50 lakh per outlet. Costa Coffee has...

LAB CHEMICALS MARKET SET TO GROW AT 15-18% FOR 5 YEARS (Indian companies plan to have more global tie-ups and alliances to increase business).
September 29, 2006... (From India Business Insight) The laboratory chemicals and reagents market in India is expected to increase from 12-13 percent to 15-18 percent till 2011. The domestic manufacturers in the Rs600-crore market include Rankem, Qualigens...

FISHER SCIENTIFIC SETS UP BASE IN INDIA (opens its 100 percent subsidiary Scientific Products Pvt Ltd in Mumbai).
September 29, 2006... (From India Business Insight) Fisher Scientific International Inc of US, after taking over Ultrapure Scientifics Pvt Ltd (USPL) of Mumbai, is planning to invest Rs100 crore to start a manufacturing facility for clinical products. The...

VWR LINKS UP WITH CULTURE MEDIA FIRM IN MUMBAI (the partnership will enable the companies to ensure efficient distribution of scientific supplies).
September 29, 2006... (From India Business Insight) VWR International Inc. has signed a joint distribution agreement with HiMedia Laboratories of Mumbai. The move is to supply laboratory chemicals and consumables to the pharmaceutical and bio-technology...

CIBA SPECIALTY CHEM ACQUIRES REGULATORY CONSULTING FIRM (the company intends to provide regulatory and toxicology consulting services to clients).
September 29, 2006... (From India Business Insight) Ciba Specialty Chemicals (CSC) has acquired Cantox Health Sciences International (CHSI), a scientific consulting firm. With this acquisition, the CSC intends to provide regulatory and toxicology consulting...

MINISTRY ROPES IN CEA TO PREPARE SAFETY NORMS FOR POWER PROJECTS (to avoid delays and inconvenience in the development of projects).
September 29, 2006... (From India Business Insight) The Ministry of Power, Government of India, has asked the Central Electricity Authority (CEA) to lay down regulations on safety and electricity supply soon to avoid delays in the development of projects and...

CONSOLIDATION OF BANKS IMPERATIVE TO COMPETE GLOBALLY: FICCI (Indian banking sector favours the creation of six or seven big entities to face competition).
September 29, 2006... (From India Business Insight) A survey conducted by The Federation of Indian Chambers of Commerce and Industry (FICCI) has revealed that the Indian banking sector favours the creation of six or seven big entities like State Bank of India...

CEMENT COs TO ADD 75 MTPA BY 2010 (involving a total investment of Rs26,250 crore).
September 29, 2006... (From India Business Insight) Cement companies in India will be adding up to 75 million tonnes a year (mtay) of capacity by 2010, to meet growing demand. This will involve a total investment of Rs26,250 crore. An ICRA sectoral...

TEXTILE COs WEAVE EXPANSION PLANS (to have a stronger presence in domestic and overseas markets).
September 29, 2006... (From India Business Insight) A number of textile companies are planning to add capacities to have a stronger presence in domestic and overseas markets. Gangothri Textiles is investing a total of Rs350 crore on its expansion plans. The...

KAJARIA CERAMICS PLANS MAJOR EXPANSION IN SOUTH (is planning to invest Rs123 crore to set up 15 Kajaria Plus showrooms).
September 29, 2006... (From India Business Insight) Kajaria Ceramics is planning to invest Rs123 crore to set up 15 Kajaria Plus showrooms across south India. The company is planning to import a wide range of tiles from China and sell it at its showrooms...

KARNATAKA SETS UP DNA DIAGNOSTIC AND RESEARCH CENTRE AT DHARWAD (DDRC will detect and cure disorders among offsprings of consanguineous marriages).
September 29, 2006... (From India Business Insight) The Karnataka Directorate of Health and Family welfare has invested Rs3 crore to set up the DNA Diagnostic and Research Centre (DDRC) at Dharwad in Karnataka. The DDRC will detect and cure disorders among...

DR MOHAN'S DIABETES CENTRE LAUNCHES INDIRA EYE INSTITUTE (the institute will offer comprehensive eye care for ophthalmic disorders related to diabetes).
September 29, 2006... (From India Business Insight) Dr Mohan's Diabetes Specialities Centre, Chennai, has set up a new unit called Indira Eye Institute to expand its ophthalmic treatment facilities, training and research activities. The institute will...

LG LIFESCIENCES TO MARKET VENOFER IN INDIA (Venofer is used for treatment of iron deficiency anaemia in patients suffering from chronic kidney disease).
September 29, 2006... (From India Business Insight) LG Life Sciences India Pvt Ltd is planning to introduce Venofer, an intravenous iron supplement, in India. Venofer is manufactured by Vifor (International) Inc and a Swiss healthcare company. Venofer, a drug...

ZENITIX TO OFFER SOLUTIONS IN LIFE SCIENCE, HEALTHCARE INFORMATICS (is likely to introduce three modules in Sep 2006).
September 29, 2006... (From India Business Insight) Zenitix Biosciences, based in Hyderabad, is planning to offer solutions in life science and healthcare informatics in the areas of chemical informatics, bio informatics, drug discovery and information...

STRIDES ARCOLAB TO ACQUIRE DHA, SINGAPORE FOR S$19.7 MILLION (after signing a share purchase agreement with Haw Par Healthcare).
September 29, 2006... (From India Business Insight) Strides Arcolab has signed a share purchase agreement with Haw Par Healthcare, under which, Strides' indirect subsidiary, Strides Singapore Pte Ltd, will buy out Drug Houses of Australia (Asia) Pvt Ltd...

WELLSPRING ACQUIRES 100% STAKE IN DR PHADKE'S PATH LABS (the entity would be renamed as Wellspring-Dr Avinash Phadke Pathlab and Diagnostics).
September 29, 2006... (From India Business Insight) Wellspring, a pathology laboratories and diagnostic centres chain, has acquired the remaining 40 percent stake in its joint venture with Dr Phadke's Path Lab in Mumbai. Following the acquisition, the...

FRESH & HONEST CAFE (brand 'Alive!' is a 70-30 mixture of coffee and chicory, which is priced Rs17.50 for a 100 grams pack).
September 29, 2006... (From India Business Insight) Sterling Infotech owns Fresh & Honest Cafe (FHC). It manages a chain of coffee vending machines in India. FHC's brand of coffee is called 'Alive!', which is a 70-30 blend of coffee and chicory. Its...

CANDICO (the XXX brand of hard-boiled mint candies are priced 50 paise each).
September 29, 2006... (From India Business Insight) Candico has launched its XXX brand of hard-boiled mint candies in the market. Each candy is priced 50 paise. It wants to cash in on the fast growing mint segment in the industry.

SAPPORO BREWERIES (Draft One beer is made from soy peptide and contains low percentage of alcohol).
September 29, 2006... (From India Business Insight) Sapporo Breweries of Japan intends to launch its third beer brand 'Draft One' in India. The beer is made from pea or soy peptide and contains low percentage of alcohol. It will face competition in the...

MOTHER DAIRY INDIA (plans to open 8,000-10,000 outlets for its Safal brand in 2006 in the country).
September 29, 2006... (From India Business Insight) The Mother Dairy India (MDI) of the National Dairy Development Board intends to launch more varieties of processed food products. It proposes to open 8,000-10,000 outlets for its Safal brand in 2006. ...

NADUKKARA AGRO PROCESSING COMPANY (will provide a subsidy of Rs25,000 a hectare to pineapple farmers using organic farming techniques).
September 29, 2006... (From India Business Insight) The Nadukkara Agro Processing Company Ltd (NAPC) of Kerala has initiated a project for organic cultivation of pineapple on 100 hectares.It is providing a subsidy of Rs25,000 a hectare to pineapple growers to...

SUN AGRO FRESH (is joint venture of the Fyffes group of Ireland and Suri Fruit Agency).
September 29, 2006... (From India Business Insight) Sun Agro Fresh Pvt Ltd (SAF) is the joint venture of the Fyffes group and Suri Fruit Agency (SFA). It is to export fruits to Europe and the South Asian Association for Regional Co-operation (SAARC) member-...

HEINZ INDIA (has launched Chatpata Tomato Chutney and Chatakdar Coriander Mint Chutney).
September 29, 2006... (From India Business Insight) Heinz has introduced Chatpata Tomato Chutney and Chatakdar Coriander Mint Chutney in the market. The company has launched Heinz Champ sauce that is fortified with vitamins for children. It is to market...

PARLE PRODUCTS (has launched Digestive Marie that contains psyllium husk to prevent indigestion).
September 29, 2006... (From India Business Insight) Parle Products Pvt Ltd has launched 'Digestive Marie', a variant of Marie biscuits. It contains high fibre and low fat. The Parle Digestive Marie contains psyllium husk, which prevents indigestion. The brand...

GUJARAT CO-OPERATIVE MILK MARKETING FEDERATION (has launched the 'Stamina', a whey-based protein drink).
September 29, 2006... (From India Business Insight) Amul, a brand the Gujarat Cooperative Milk Marketing Federation owns, has launched the 'Stamina', a whey-based protein drink. The drink contains electrolytes, vitamins and minerals that are easily...

GREEN VALLEY CIDER (has launched its Tempest Cider, an apple-based alcoholic beverage, in Karnataka).
September 29, 2006... (From India Business Insight) Green Valley Cider Pvt Ltd (GVC) of Himachal Pradesh has introduced Tempest cider in Karnataka. The Tempest is an apple-based alcoholic beverage and is available in a carbonated form too. The drink contains...

TATA GROUP (Tata Coffee has invested Rs1,015 crore for acquiring Eight O'clock Coffee Company).
September 29, 2006... (From India Business Insight) Tata Coffee, a 51 percent subsidiary of Tata Tea, has invested Rs1,015 crore to acquire Eight O'clock Coffee Company (EOC) of the US from Gyrphon Investors. EOC is the third largest brand in volume terms...

VADILAL ICE CREAM (manufacturing plant is to be set up in Kolkata at a cost of Rs9.7 crore).
September 29, 2006... (From India Business Insight) Vadilal of Ahmedabad in Gujarat will invest Rs9.7 crore for setting up an ice cream manufacturing plant at Kolkata in West Bengal. The plant will have an installed capacity of 32,000 litres every day,...

HINDUSTAN CONSTRUCTION BAGS 2 NHPC HYDEL PROJECTS IN J&K (for a total investment of some Rs794 crore).
September 29, 2006... (From India Business Insight) National Hydroelectric Power Corporation (NHPC) has given Hindustan Construction two of its important hydel construction projects valued jointly at about Rs794 crore in Jammu and Kashmir. The Chutak...

MoF TO TIE UP $1 BN ADB FUND FOR CO-OPS (to recapitalise the segment).
September 29, 2006... (From India Business Insight) Asian Development Bank will give India a loan of $1 billion over 3 years to recapitalise cooperative banks, the main source for funds for rural development, now in disorder for lack of good financial...

REGISTRATION OF HERBAL PRODUCTS SOON (a Pharmexcil initiative).
September 29, 2006... (From India Business Insight) Pharmaceuticals Export Promotion Council or Pharmexcil is under the Ministry of Commerce and Industry.Pharmexcil and the Department of Ayush (short for ayurveda, unani, sidha and homeopathy) are together...

VIJAYA BANK TO RAISE Rs900 CRORE BY DEC-END (to meet Basel II norms).
September 29, 2006... (From India Business Insight) The 53-percent Government-owned Vijaya Bank has tier-two capital of Rs250 crore and has a capital adequacy ratio of about 11.5 percent. And yet it plans raising Rs700 crore by way of tier-two capital to...

MAX NEW YORK LIFE infuses Rs30 CR (capital now Rs617 crore).
September 29, 2006... (From India Business Insight) Max New York Life's capital has gone up to Rs617 crore after it brought in Rs30 crore as capital. It has done this in order to improve its solvency margin needs. It has a sum assured of Rs32,000 crore in one...

BANKS OPT FOR MORE TEAMMATES PRIOR TO INSURANCE FORAYS (pioneer is Allahabad Bank).
September 29, 2006... (From India Business Insight) When foreign investment was allowed in insurance business, the practice was for an Indian bank to invite a foreign insurance company as a partner with a view to using each other's strength. It was left to...

VEDANTA'S ORISSA ALUMINA PROJECT IN LIMBO (in spite of some political support).
September 29, 2006... (From India Business Insight) Though some ruling party Members of the Legislative Assembly of Orissa have spoken in support of Vedanta Resources' 1.4-million- tonne alumina project, it may not take off at all in view of an agitation led...

HYUNDAI LINES UP $1.5 BN FOR INDIA (in association with its auto part makers).
September 29, 2006... (From India Business Insight) Hyundai Motor Company of South Korea is going to invest $1.5 billion in India, Asia's fourth large automotive market. Of this, Hyundai's share will be $911 million and its Indian affiliates the rest....

MUTUAL FUNDS CHANGE INVESTMENT STRATEGIES (as a result of market volatility).
September 29, 2006... (From India Business Insight) The unstable conditions of the stock exchanges between May and Aug 2006 have led many mutual funds to change their investment policies. They are now changing the investment space and relocating...

BUILDERS EYE TOWNSHIP DEVELOPMENT (stringency in special economic zone loans propels to township development).
September 29, 2006... (From India Business Insight) Reserve Bank of India has tightened its policies on assistance to special economic zones. This has sharpened the competition in the Rs64,000-crore market among realty developers and prompted some of them to...

SANYO-BPL SEES 8-9 PC MARKET SHARE BY MARCH (it has so far sold around 30,000 CTV units).
September 29, 2006... (From India Business Insight) Sanyo-BPL expects to have a market share of 8-9 percent in the television segment by Mar 2007 and improve the same further to 16 percent levels in three years. The company has so far sold around 30,000 CTV...

SIVASAKTHI PLANS GLOBAL FOOTPRINT FOR NITRAA FURNITURE BRAND (books space in wholesale furniture showroom in China).
September 29, 2006... (From India Business Insight) Sivasakthi Woods Works has decided to achieve global recognition for its Nitraa furniture brand. The company has taken space in a wholesale furniture showroom in Guangzhou, China, and is to display about 40...

PENGUIN INDIA TO LAUNCH BUSINESS BOOK IMPRINT (Portfolio will also publish case studies and industry analyses).
September 29, 2006... (From India Business Insight) Penguin India is set to launch a new imprint called Portfolio in Mumbai on 28 Sep 2006, to cater specifically to the business segment. Portfolio is named after Penguin USA's dedicated business book...

VIJAYA BANK EYES ACQUISITIONS (bank inaugurated a new branch in Delhi on 25 Sep 2006).
September 29, 2006... (From India Business Insight) Vijaya Bank has announced plans for acquiring or consolidating with a mid-sized or smaller bank during 2007-2008 to take itself into the league of large banks. The bank opened a new branch at Paschim Vihar in...

RUPEE TURNS EASY AGAINST DOLLAR (dealers expect the rupee to touch 45.75 within a week).
September 29, 2006... (From India Business Insight) The rupee opened at 45.90 and touched an intra-day high of 45.84 before closing at 45.95 against the US dollar in the interbank foreign exchange market at Mumbai on 25 Sep 2006. Dealers said that oil...

BOND PRICES RULE FLAT (market participants waiting for the auction calendar).
September 29, 2006... (From India Business Insight) Bond prices ruled flat in the Mumbai bond market on 25 Sep 2006, with participants waiting for the auction calendar of the Reserve Bank of India. Traded volumes stood at Rs2,865 crore on the order matching...

CALL RATES STEADY (CBLO market records 354 trades for Rs21,972.15 crore).
September 29, 2006... (From India Business Insight) Call rates remained steady at 6.40-6.50 percent in the overnight call money market at Mumbai on 25 Sep 2006 as compared to 6.40- 6.60 percent levels witnessed on 22 Sep 2006. The Reserve Bank of India...

AGRICULTURAL BANK OF CHINA, CANARA BANK PLAN TIE-UP (to focus on agricultural and rural employment promotion).
September 29, 2006... (From India Business Insight) Agricultural Bank of China and Canara Bank are looking to build a partnership in several areas, especially in the areas of agricultural and rural employment promotion. The two banks have agreed to extend...

EXIM BANK SEALS DEAL WITH NIGER GOVT (offers credit up to an aggregate sum of $17 million).
September 29, 2006... (From India Business Insight) The Export-Import Bank of India has signed an agreement with the Government of Niger for making available a Line of Credit up to an aggregate sum of $17 million. Exim Bank will be making available the credit...

KOCHI PORT CUTS CONTAINER TRAILER HIRING CHARGES (trailer hiring charges down by Rs200 for local usage).
September 29, 2006... (From India Business Insight) The Cochin Port Trust has announced a significant reduction in container trailer hiring charges to and from the port with immediate effect in a move to rationalise transportation charges and eliminate...

ONGC's SAGAR VIJAY SAILS OFF AFTER UPGRADATION (existing derrick extended by about 25 feet).
September 29, 2006... (From India Business Insight) Sagar Vijay, the mobile offshore drilling vessel of Oil and Natural Gas Corporation, sailed from Cochin Shipyard on 23 Sep 2006 following completion of major upgradation. Some of the major work undertaken on...

CENTRE PLANS TO AMEND SUGARCANE CONTROL ORDER (two sugar majors fighting over minimum distance issue).
September 29, 2006... (From India Business Insight) The Government of India is planning to introduce amendments to the Sugarcane Control Order, 1966 in order to make the 15-km minimum radial distance stipulation between two sugar mills a mandatory norm rather...

AIR INDIA NET FALLS 82.54 PC (total revenues up 25 percent at Rs9,677 crore in 2005-2006).
September 29, 2006... (From India Business Insight) National carrier Air India has recorded a decline of 82.54 percent in its net profit at Rs16.29 crore in 2005-2006 as compared to Rs93.31 crore achieved in 2004-2005. This fall in profit is mainly due to the...

NORTHERN COALFIELDS PLANS POWER FORAY (proposes to set up two power plants of 1,000 MW).
September 29, 2006... (From India Business Insight) Northern Coalfields Ltd, a subsidiary of Coal India Ltd, has decided to enter the power generation business and set up power plants to add value to its product. The company has initiated negotiations with...

TAX REVENUE OF VAT STATES UP BY 26.2% (tax revenues touch Rs45,579 crore for Apr-Aug 2006.).
September 29, 2006... (From India Business Insight) Tax revenues of the 30 VAT-implementing states in India have risen by 26.2 percent to touch Rs45,579 crore for the first five months of 2006-2007 as compared to revenues of Rs36,118 crore achieved in the...

POWER MINISTRY OPPOSED TO SALE OF DABHOL'S LNG TERMINAL (Centre considering terminal sale to check cost overrun).
September 29, 2006... (From India Business Insight) The Ministry of Power, Government of India, says that it is against the proposed sale of the LNG terminal adjoining the Dabhol power plant. The Centre is reported to be considering the sale in order to check...

MINISTRY SIGNS BIOMASS PACT WITH UNDP FUND, KfW (to develop projects for harnessing biomass energy resources).
September 29, 2006... (From India Business Insight) The Ministry of Non-Conventional Energy Sources, Government of India, has entered into a $39.15 million project with UNDP Global Environment Fund (UNDPGEF) and German financial institution KfW for...

PASWAN TO SEEK 8% CUT IN PHARMA EXCISE DUTY (cut would result in revenue losses of Rs2,000 crore).
September 29, 2006... (From India Business Insight) Ministry of Chemicals, Government of India, is to seek a reduction in drug prices in the country's new pharmaceutical policy. Despite objections from the finance ministry, ministry of Chemicals intends to...

CHENNAI'S 6-LANE IT BAHN TO BE READY BY MAY NEXT (entire 20.1-km road project to cost Rs205 crore).
September 29, 2006... (From India Business Insight) The first six-lane IT highway in Chennai, being developed by the Tamil Nadu Road Development Corporation in association with Malaysia AZ Bd, is likely to be ready by May 2007. The 20.1-km stretch between...