|
|
|
|
|
| HOME | BUSINESS | ARCHIVES | |||
|
|
|
December 15, 1998 India, Russia likely to resolve dumping dispute, strike trade pact "Since Moscow is unhappy with the anti-dumping duties on steel, there is a likelihood that we will reconsider our decision as India and Russia want to remain strategic trade and commerce partners," a commerce ministry official told Rediff On The NeT. 'Wide spectrum of well-managed companies' makes India Morgan Stanley's favourite These corporates offer investment opportunities. This is the reason why the financial services major would prefer India along with three other economies to other Asian countries in 1999. THE REDIFF BUSINESS COLUMNISTS Kerala: India's future California? The economic prospects of the God's own country are looking up as the infotech industry gets renewed thrust, writes Rajeev Srinivasan. OTHER REPORTS Expressways are essential, a priority, PM tells industry Vajpayee said India needs expressways of world class and this should be an important feature of the new integrated national transport policy. Manmohan seeks to lift the shroud on airline 'mystery' The former finance minister said the real reason for the Indian Airlines, Air-India imbroglio appeared to be the differences between the government and the two boards over the purchase of a particular type of aircraft. Rajasthan government says it has inherited empty treasury, Rs 14b deficit Finance Minister Chandan Mal Baid said he was facing a major challenge after the Reserve Bank of India sent a notice to the state government about the overdraft dues. IndusInd, MCM form JV for music channel for southeast Asia MCM -- the International Music Channel will be transmitted free to more than six million households all over southeast Asia, from the Philippines to Japan and down to Indonesia from the beginning of 1999. 
• BSE: 2990.44; Sensex down 12 points • NSE: 863.60, Nifty down six points • Forex: Rs 42.56/57 vs US dollar Rs 71.71 vs pound sterling Rs 25.77 vs deutsche mark Rs 35.78 vs Japanese yen (100) December 13-14, 1998 Stock market must attract small savings; GAIL divestment in local market: Sinha Fiscal incentives and investments by provident funds and insurance companies won't help the market. The common investing public has to gain confidence in the system and its participants. Only then will the sentiment improve, he said. Monsanto advert masks its expansionary role in Indian agricultural sector, points out forum The Indian Biodiversity Forum said the BT gene had been used by India's organic farmers since the 1960s. This collective innovation has been 'pirated' by Monsanto and a number of life industry companies. THE REDIFF BUSINESS COLUMNISTS Licence-language lords kill corporate initiatives in education sector In fiscal 1997-98, Karnataka received 325 applications from corporates, entrepreneurs and others to construct and run schools. Despite acute shortage of schools, not a single application was cleared. Why? The applicants were unwilling to offer the Kannada language as the medium of instruction, writes Dilip Thakore. OTHER REPORTS Centre agrees to pump Rs 1.5b into cash-starved Goa Instead of commending Goa for the low population growth, the Centre is penalising the state under the Gadgil formula which had recommended allocation of Central resources to states on the basis of the size of population, Chief Minister Faliero alleged. Ayyappan Nair likely to be Kerala's IDC chief; move seen as investor-friendly The IDC has the onerous task of achieving nine per cent growth in the state in the next two-and-a-half years as promised in the industrial policy. Urban land ceiling act will be repealed next week, assures Jethmalani Housing and urban infrastructure are the key to economic revival as nearly 289 industries are associated with the housing sector. An impetus to this sector would kickstart the economy, the urban affairs minister opined. Bengal government supports sale of Philips Calcutta plant to Videocon arm Philips said the 360 employees in the Salt Lake factory won't be affected. The facility will continue to be a manufacturing centre giving a fair value to the company and its shareholders. Fiscal deficit can be pruned by widening tax base by 3 pc, says IMF official The agriculture sector is expected to perform well and the services sector is expected to grow by 8 to 9 per cent. The overall economic growth rate is expected to be more than 6 per cent this fiscal, the IMF's M R Sivaraman said. Two million people sign memo against India joining WTO Exports are declining. Imports are rising. So is debt. This shows the hollowness of the promise of export benefits from the WTO membership, said the Azaadi Bachao Andolan, which is spearheading an agitation against the multinational companies. Punjab seeks to replicate Dutch model to step up mushroom exports Punjab Agri and Export Corporation and Agro Dutch Foods Limited will set up the Mushroom Industrial Park. The venture is expected to fetch foreign exchange to the tune of Rs 600 million from the USA and European countries.
• GDR Weekly Review: Prices rise on insurance hopes; Skindia index up 6.53 pc, 569.86 points • BSE and NSE Weekly Review: Infotech, pharma equities lead rally; buoyant trend helps Sensex to surge past 3000 points December 12, 1998 Industrial strike evokes mixed response, Left unions call it major success Public sector banks and insurance offices were paralysed throughout the country while transport services functioned at less than their normal capacity. In the non-Congress and the non-BJP-ruled states like Tamil Nadu, West Bengal, Kerala and Manipur, normal life came to a grinding halt. INSURANCE IMBROGLIO Protests mount, political moves gain momentum: bill's fate hangs in balance Insurance workers are lobbying members of Parliament; they insist that many of the MPs will not vote in favour of the IRA bill. THE REDIFF BUSINESS COLUMNISTS Insurance reforms won't be easy 'There is a visible confrontation between the government on one side and almost everybody else on the other. When there is so much resistance, there must be some reasons for it, good or bad. In a country like India, there is a limit to what you can do if you do not have the people with you, particularly your own people who have put you in power,' writes Jay Dubashi. THE REDIFF BUSINESS INTERVIEW 'India wants the US to lift its economic sanctions and opening the insurance sector is the price' 'LIC has the world's best settlement claims record of 97 per cent, while GIC settles 74 per cent of all claims. The world's average is just 40 per cent. Even the world's biggest insurance firm, Prudential, has settled only 45 per cent of its claims.' Insurance union secretary N M Sundaram speaks out! THE REDIFF BUSINESS SPECIAL Chicken-and-onion price correlation cocks a snook at Valley Every summer, the price of chicken falls as people consume less. This is for the first time that prices of broiler, both dressed and undressed, fell sharply in Jammu even though the production remained the same as last year's. FOCUS ON THE PHARMA INDUSTRY Asian congress stresses pricing, quality, safety, AIDS drugs, service to common man The production priorities of the Indian pharmaceutical industry will not shift from essential drugs for mass need to costly drugs in the wake of the new patent bill. Exclusive marketing rights for imported drugs will not mean any sharp rise in drug prices, speakers said. Viagra is safe, assures discoverer; Pfizer working on sex pill for women Prof Simon Campbell said the company has studied each and every death case carefully and found that Viagra was not the cause of death. Rs 12 only! TN herbal co vows to stimulate men Vigourous-ly Even before entering the market in a full-fledged manner, the Tamil Nadu Medicinal Plant Farms and Herbal Medicine Corporation has received enquiries from Malaysia, the United Kingdom, the Middle East and other foreign countries. The company has drawn up a strategy to exploit the potential abroad. Leaking latex: human rights panel spits fire at condom company Some of the 'expired' condoms were 'illegally repacked in unauthorised wallets with the brand name New Moods Supreme'. The rest were pasted with false manufacturing and expiry dates and inflated maximum retail price and sold all over Punjab. OTHER REPORTS Separate boards replace Air-India-Indian Airlines joint management Aviation Secretary Jayakrishna is the new Air-India chairman. Anil Baijal, a joint secretary in the aviation ministry, is the new CMD of Indian Airlines. Michael Mascarenhas will continue as A-I's MD. Synergies will help avoid fierce competition between Indian Airlines and Air-India on the metro and Gulf routes, Aviation Minister Ananth Kumar told the Lok Sabha. Sinha to size up market mood during whistle-stop Bombay tour today The finance minister will meet investor groups, industry associations and representatives of small investors.
• BSE: 3002.54; Sensex up 23 points • NSE: 870, Nifty up over five points • Forex: Rs 42.57/58 vs US dollar Rs 71.06 vs pound sterling Rs 25.75 vs deutsche mark Rs 36.20 vs Japanese yen (100) December 11, 1998 Nationwide industrial strike today; BJP's economic policies come under fire Labour Minister Jatiya's ''last-minute'' efforts to convince the trade unions to call off the strike have failed. The judiciary has ordered the administration to avert bandhs. State governments have stepped up vigil to prevent violence and to ensure minimum disruption to life and business. Reports from all over India. Insurance, patent bills next week, hints Khurana; 'LIC, GIC won't be affected' The parliamentary affairs minister said the government had suggested that the insurance bill could be introduced on Monday but the final decision would be taken by the Lok Sabha speaker G M C Balayogi. THE REDIFF BUSINESS INTERVIEW 'Government is encouraging sugar imports at the cost of domestic sector' 'Yes, sugar is being dumped in India. Other countries' import duties are to the extent of 200 per cent. India has imposed only five per cent; in fact the lowest elsewhere is 26 per cent, in Pakistan. All this when Bombay should be the world trade centre for sugar.' An interview with Mohan Gurnani, president of the Bombay Sugar Merchants' Association. THE REDIFF BUSINESS SPECIAL 'How can the market grow in India?' 'In India, under Gandhian simplicity and socialist thinking, the car has been viewed as an item of eliticism and therefore taxed to death. If the auto industry becomes a priority, it would do a phenomenal amount for the economic growth of the country.' Transcript of the popular TV show Crossfire. OTHER REPORTS 'Finance Minister? Governor of Trinidad? Why should I like to be some other?' Accepting the prize, Nobel laureate Amartya Sen sought to steer clear of a political role in future but advised Indian policy-makers to refocus development objectives and direct them towards those 'who are the worst off in the society'. HAL, Airbus sign MoU for freight-related operations Airbus has identified India's Hindustan Aeronautics facility for manufacture of doors for its aircraft of medium capacity. Today's MoU takes HAL a step forward from passenger doors to cargo doors.
• BSE: 2979.60; Sensex up 29 points • NSE: 864.40, Nifty up eight points • Forex: Rs 42.58/59 vs US dollar Rs 70.76 vs pound sterling Rs 25.63 vs deutsche mark Rs 36.23 vs Japanese yen (100) December 10, 1998 Hot and uncovered: the great insurance debate While pro-bill opinion-leaders say foreign insurance companies can spur infrastructure development, others argue that opening up the sector will lead to exorbitant premium rates and a monopolistic market in the long term. HAL poised to fly high making choppers, aircraft India's defence forces have placed an order for 300 14-seater Advanced Light Helicopters. HAL is mulling a consortium for the production of the 100-seater, 50-seater and 20-seater passenger planes which have export potential. THE REDIFF BUSINESS SPECIALS From famines to philosophy: Sen and the art of humanistic economics By combining tools from economics and philosophy, Amartya Sen has restored an ethical dimension to the discussion of vital economic problems, the Royal Swedish Academy of Sciences said on its award of the Nobel prize for economics for 1998. Moscow varsity's Indian scholar files PIL against calling Sen a Nobel laureate The Supreme Court is likely to hear the public interest litigation on December 16. The official Website of the Nobel Foundation however refers to the winners of the economics prize as laureates. OTHER REPORTS Insurance bill likely to be introduced in LS on Friday Copies of the draft have been circulated late tonight to the members of the house, the Lok Sabha Secretariat sources told Rediff On The Net. The bill envisages wide-ranging powers for the proposed regulatory authority and the Union government. IT dept raids 3 BSE brokers to probe Pentafour, Sun Pharma deals Sources said that it would take about a week to confirm the magnitude of false claims and shady transactions put through by brokers and intermediaries. Dabhol Power strikes long-term LNG deal with Oman co The deal will lead to the first import of LNG into India. This is the first LNG contract in Asia signed with an independent power project. Rupee may slide to 44-1$ level in next six months, reveals StanChart survey There is a general consensus that base lending rates will remain range-bound. As long as the rupee continues to be under downward pressure and the government's fiscal position unhealthy, interest rates will struggle to fall in India.
• BSE: 2950.21; Sensex up 4.5 points • NSE: 856.55, Nifty up 3.5 points • Forex: Rs 42.56/57 vs US dollar Rs 70.45 vs pound sterling Rs 25.49 vs deutsche mark Rs 36.06 vs Japanese yen (100) December 9, 1998 Liquor licence issue kicks up row in Kerala If the state government goes ahead with the decision to give licences to 25 new units, two-and-a-half months production will meet the entire year's demand. The government's refusal to allow capacity expansion of the existing units has fuelled allegations of corruption. ACC to make 4:1 rights issue at Rs 55, takes fresh guard to cement long innings The board took stock of the company's growth plans, acquisitions, expansion and modernisation schemes, and plans to issue preferential shares to the Tata companies. Despite the economic slowdown, it is necessary for ACC's long-term future to proceed with development plans, the board agreed. BUSINESS FEATURE White Revolution, sepia memories -- diary of a dairy don The Milkman of India, Dr Verghese Kurien, 77, said his ten commandments can help one to earn bread and butter and bonus, and build big business. OTHER REPORTS PM, HM, FM hold marathon meets with BJP, achieve consensus on insurance bill The meeting saw the party and the government debating the modalities as well pros and cons of the bill. IA, A-I boards moot merger; new holding company to be formed The Kelkar Committee had suggested a gradual, staggered approach, starting with strategic operations and flight schedules of the two airlines. But the boards settled for a straight merger. For it involved no other expenditure for additional infrastructure and manpower. Moody's enters India with 11 pc stake in ICRA After South Korea, India is the second country where Moody's has picked up a minority stake in a developing venture. The joint venture would bring to India the global expertise and research in credit rating which Moody's has developed over decades. T-gene issue: Make seed MNCs pay farmers for crop loss, demands Karnataka leader Opposition leader Mallikarjun Kharge said the testing of Bollgard cotton seed should be conducted at the fields of the agriculture universities. 'The seed must be allowed to reach the farmers only after doubts on its use were cleared,' he said.
• BSE: 2945.64; Sensex up 24 points • NSE: 853.00, Nifty up eight points • Forex: Rs 42.56/57 vs US dollar Rs 70.27 vs pound sterling Rs 25.45 vs deutsche mark Rs 35.62 vs Japanese yen (100) December 8, 1998 Excited elders dissect economy, pull up government for poor show Rajya Sabha members said that the government which fails to maintain the prices and allows a section of people to rob the general public has no business to remain in office. Under it, no domestic economy could get a boost through foreign investments. THE REDIFF BUSINESS INTERVIEW 'Despite all its setbacks, India is a terrific place to do business' 'The NRIs are not pumping their money into India like their Chinese counterparts.... Many banks are bleeding because they cannot shrug off their excessive labour. I am all for transparency, but why make the quarterly results public? Why can’t the RBI have the details and see how the banks are doing? In banking, you cannot afford to pander to short-term interests.' An exclusive interview with HSBC CEO David G Eldon. THE REDIFF BUSINESS SPECIAL Once bitten, twice hopeful A large number of Anubhav teak plantation's investors still have faith that Natesan can turn around the company in a couple of years. Some blame the SEBI for pushing the company to a corner while others feel ridiculously low interest rates of banks push investors to high-interest, seemingly safe agro-forestry ventures. OTHER REPORTS Involve farmers in t-gene issue to check danger, minister tells states Urban Affairs Minister B Dattatreya said seed certification is the responsibility of the state governments. 'They have to verify this by seizing the entire seed produced in the trials. It is common knowledge that seeds having terminator gene will be sterile.' HAL to tie up with French company to make 50-seater aircraft for Indian Airlines The HAL-ATR combine has bagged the contract to supply six aircraft to Indian Airlines against stiff global competition. BJP chief urges MPs to back insurance bill Kushabhau Thakre however reiterated that prior consultations between the government and the party would have prevented unnecessary speculation in the media and political circles. Cotton futures resume in India after a 32-year gap Trading would be through the outcry method. Development of online trading system is not ruled out. The Forward Markets Commission has also mooted merger of the commodity exchanges across the country to form a national exchange for permitted commodities. Maruti closes defunct service arm, gears up for competition J J Impex which has been acquired a year ago, will handle service operations while the joint venture with Maruti-Countrywide and Sumitomo Corporation will establish an after-sales service workshop network across the country. Dealers have been asked to work out an individual promotional activity to push forward sales.
• BSE: 2921.80; Sensex soars 72 points • NSE: 845.15, Nifty up 17 points • Forex: Rs 42.57/58 vs US dollar Rs 70.50 vs pound sterling Rs 25.36 vs deutsche mark Rs 35.49 vs Japanese yen (100) December 5-7, 1998 Uncertainty shrouds insurance bill's fate; Malkani sees foreign pressure on govt "Last year alone 300 insurance companies failed worldwide, which actually means the west since most are based there. That is why they are asking their governments to put pressure on India to allow them in," said the BJP ideologue and Rajya Sabha member. THE REDIFF BUSINESS INTERVIEW 'The lesson of the South East Asian crisis is that India must reform faster' 'I have seen world-class quality and productivity in foreign-owned factories and laboratories in Bangalore, Pune, Nashik and Baroda. Indian companies can compete even if tariffs are lowered.... When promoting India abroad it would be an advantage if they can focus one specific region. It is easier to project Andhra Pradesh or Gujarat than the whole of India.' An exclusive interview with Investor IB chairman Percy Barnevik. THE REDIFF BUSINESS COLUMNISTS India 2020 By the year 2020, the per capita GDP ought to be close to $ 2000. Stated differently, if this is possible, the worst forms of poverty should have disappeared by 2020.... With ten million and more jobs a year, it should be possible to eliminate the backlog of unemployment by the year 2010, writes Bibek Debroy. THE REDIFF BUSINESS SPECIAL Auto sector frets and fumes over talk of ban on 'fuming vehicles' If it is serious about containing atmospheric pollution, the government must address the basic question of bad fuel used in India, says Veeresh Malik. OTHER REPORTS Unilever chief assures support to agri-food sector, stresses global outlook Just two per cent of India's fruit and vegetable output is processed. This figure contrasts with 23 per cent in Malaysia and 20 per cent in Thailand, Niall Fitzgerald lamented. German envoy offers sneak preview of Euro advantages, asks India to gear up European Union is India's most important trading partner, and switching to the Euro as its international currency will reduce transaction costs of Indian companies substantially, he said. CBI easy on Reliance in initial report on investments in UTI The government would initiate action once the final picture emerged. The CBI investigation was still incomplete, Finance Minister Yashwant Sinha told the Lok Sabha. UTI hikes price of US-64 units Unit Trust of India today hiked the sale and repurchase price of the US-64 scheme by ten paise to Rs 14.90 and Rs 14.60 respectively for January 1999. RBI lifts currency curbs on credit card payment Residents holding international credit cards can make payments in India in rupees / foreign exchange as per their choice.
• BSE: 2849.82; Sensex up 45 points • NSE: 828.35, Nifty up 11 points • Forex: Rs 42.54/55 vs US dollar Rs 70.95 vs pound sterling Rs 25.45 vs deutsche mark Rs 35.82 vs Japanese yen (100) December 4, 1998 IRA Bill puts govt in a bother as SJM, BMS, Shiv Sena harden stance 'It is not our concern how long this government lasts. We are opposed to the insurance bill and on that, there will be no compromise regardless of which party is in power,' said Swadesh Jagran Manch convenor Murlidhar Rao. There is no need for foreign equity. The decision can wait till Y2K, said S Gurumurthy. THE REDIFF BUSINESS SPECIAL Exchange rates and all that The exchange rates have a very limited impact on the lives of ordinary people who are primarily concerned with domestic prices. Yet, the events in Russia tell a different tale, writes Shalabh Kumar. OTHER REPORTS Mafatlal, Apollo strike 42-58 deal for Nocil's division to form Polyolefins Rubber Chemicals The acquisition heralds the entry of the Kanwar group in the business of speciality chemicals which will be focused on besides the tyre business. Woollen exports to Gulf to be stepped up Efforts are being made to improve the quality of wool products in India, especially in the apparel sector. Products with attributes such as easy care, machine washability and stain resistance have already been introduced. S&P's affirms SBI's B short-term foreign currency rating S&P's stated that it had not assigned public local currency ratings or foreign currency long-term rating to SBI.
• BSE: 2804.46; Sensex down 12 points • NSE: 817.05, Nifty down 4 points • Forex: Rs 42.53/54 vs US dollar Rs 70.90 vs pound sterling Rs 25.44 vs deutsche mark Rs 35.88 vs Japanese yen (100) December 3, 1998 Clinton announces easing of sanctions on eve of Sharief's visit ''Not all have been eased,'' a White House official said. ''But a decent amount have been.'' BUSINESS & ECONOMY IN PARLIAMENT No scam, only 'notional losses', so no probe, be patient, FM tells UTI investors Yashwant Sinha exhorted the lawmakers not to pressurise the government to intervene in the affairs of the autonomous financial institution. LS passes Oilfields Bill; govt has no intention of privatising oil sector, says minister The New Exploration Licencing Policy provides for 12.5 per cent royalty for crude for inland areas and 10 per cent for offshore areas. Insurance Bill to be introduced next week, confirms Khurana Monday or Tuesday, the parliamentary affairs minister said. Party MPs defying the whip on the bill will face action, warned BJP bigwig K L Sharma. I will oppose it on behalf of the Swadesh Jagaran Manch, declared HRD minister Uma Bharati. PM admits DAP is available in black, hints at fertiliser imports to ease shortage A deal to buy 55,000 tonnes of fertilizer was finalised with Jordan. The shipment would begin immediately, he said. Move to introduce Ports Bill sparks uproar in RS; Sinha says Opposition won't be ignored Private sector investment in major ports of the country would lead to retrenchment of millions of workers in the country, the Opposition contended. OTHER REPORTS Kerala speaker joins airport projects issue, demands intl facility for state capital Vijaya Kumar does not find any improprietyin taking up a developmental issue. 'I am a representative of the people and have all the right to speak for them even though I hold the office of the Speaker,' he said. As t-gene fear spreads, AP asks Monsanto to stop bollgard trials If the company intended to conduct future trials, it could do so only in research stations of agricultural universities under the supervision of university scientists, the state government clarified. ICL to fund Raasi Cements takeover through rights issue The SEBI has cleared the company's offer to issue one share for every share held by the existing shareholders at a price of Rs 25 per share inclusive of a premium of Rs 15. WB blames policy drift, weak industry for India's slowdown In its new report The Global Economic Prospects, the World Bank said the Indian economy slowed to five per cent in fiscal 1997-98, following three years of rapid advances averaging 7.5 per cent. RBI ups stake limit to 61 pc for NRIs, OCBc in unlisted manufacturing cos The scheme enables companies to issue and export share certificates to the NRI/OCB investors without seeking prior permission of the RBI. Former Indian Bank chief charged under Sec 420 in overdraft case The accused had conspired to secure an overdraft of Rs 50 million for Akilam Constructions to develop real estate. Later, Indian Bank sanctioned the firm Rs 32.6 million without any collateral security, the CBI chargesheet noted. I-Sec study pegs fiscal deficit at 6.5 pc of GDP Last year, the fiscal slippage was funded mainly through excess small savings collections. This year it would need to be funded through additional market borrowings, the paper said.
• BSE: 2816.59, Sensex up 12 points • NSE: 821.15, Nifty up 4.5 points • Forex: Rs 42.55/56 vs US dollar Rs 70.40 vs pound sterling Rs 25.36 vs deutsche mark Rs 35.17 vs Japanese yen (100) December 2, 1998 Sinha clarifies Insurance Bill will be introduced; Kumaramangalam says passage unlikely ''We will do our best given the constraints of parliamentary democracy to see that the bill is not only introduced but also passed during this session of Parliament,'' the finance minister said. Govt assures Parliament terminator gene seeds won't be allowed to enter India Agriculture Minister Som Pal said the government was not under any pressure from the US government or companies to allow entry of American seeds. Transgenic planting material even for research purposes is allowed only through one entry point. THE REDIFF BUSINESS INTERVIEW 'In bad economic times, competitive edge comes through human resources. Not many Indian companies seem to understand this' 'The Indian manager is unwilling to delegate. There is a martyr syndrome: I must have lots of work, I must be very busy, if I work seven days a week I must be a good manager. This is balderdash!,' says Leadership Management International's Ian Frederick. 1998 INDIA ECONOMIC SUMMIT Spread risks, don't concentrate them by investing in India, Montek cautions world Dr Ahluwalia said the East Asian crisis had affected India, but only in a normal way. The Indian rupee, which depreciated in its wake, had now adjusted itself. Growth was also not affected in any substantial manner. Politicians paint a rosy picture of India Inc, experts see gloom in it Chandrababu Naidu, Manohar Joshi, Kalyan Singh, Suresh Mehta, I K Gujral and P Chidambaram said, India, after all, is a good destination for investors. But, economists, armed with fact and figures, punched a hole in their claims at the India Economic Summit. 'Regulators with teeth, free press will lead to good corporate governance' The business community also agreed that in a democracy, government cannot do everything. The corporate sector, people and government must come together to take the economy to a higher pedestal. '5 pc of GDP is being put into gold purchases. This is not productive for industry' Speakers said there was a fundamental breakdown in the Indian industry structure following the entry of MNCs. Road sector needs reforms for speedy development, says highway body member The national highways are only two per cent of the total roads in the country, but they carry 40 per cent of the total traffic. While 75 per cent of the highways are single-laned, only four per cent are four-laned, Hardeepak Singh, member (finance) of the National Highway Authority of India, told the summit. Thailand, EU stress need for bilateral trade with India After eight years of reforms, India is on the verge of becoming a global player. It should get into more number of regional groupings, leaders of emerging economies said. OTHER REPORTS Men change, policies won't, power sector will be opened up, says Goa's new CM The tourism-driven state may see the revival of the open skies policy and privatisation of generation, transmission, distribution and sale of power. Sterlite calls NEERI report biased, says Tuticorin plant is eco-friendly The plant's location within the 25 km radius of an ecologically fragile area would not in any manner pollute the environment The plant had abandoned the original plan of discharging the treated effluents into the sea and operated on zero discharge basis, the company submitted to the Madras high court.
• BSE: 2804.03, Sensex down seven points • NSE: 816.65, Nifty down one point • Forex: Rs 42.56/57 vs US dollar Rs 70.16 vs pound sterling Rs 25.23 vs deutsche mark Rs 34.70 vs Japanese yen (100) December 1, 1998 'No t-gene in bollgard' ; experts urge PM to ban 'risky' crops; Nath Sluis jumps on hybrid seeds bandwagon Terming the bollgard as 'terminator seed', a farmers' organisation in Karnataka yesterday uprooted the crop planted at a farm. Experts say biotechnology companies like Mahyco should not be allowed to play havoc with farming systems and destroy the country's food security. THE REDIFF BUSINESS COLUMNISTS Onion crisis may be a precursor of a grand future Should such a crisis happen with a foodgrain in future, the possibility of a major disaster would loom large. Remember, the MNCs having patent rights over high-yielding seeds are moving into India, writes Ashok Mitra. PROFILE From a project executive to Dr Kurien's successor: the rise and rise of Amrita Patel She had also held several high-profile posts in the NDDB and at the secretary level in the government offices. OTHER REPORTS Hegde downscales export growth target to 15 per cent Lamenting poor infrastructural facilities, the commerce minister said it sometimes takes weeks to ship goods after they reached the ports, disrupting time schedules and spoiling consignments. Deep drilling for platinum unearths copper and nickle deposits in Shimoga Efforts will continue to identifiy the potential existence of six platinum group of metals such as osmium, iridium, ruthenum, rhodium, platinum and palladium. GE Medical and Marquette complete merger process Some of the leading GE cardiac installations in South Asia include Manipal Heart Foundation in Bangalore and the National Heart Foundation in Dhaka, Bangladesh. The Escorts Heart Institute, New Delhi, will also shortly install the world's most advanced cardio vascular magnetic resonance imaging systems of GEMMS. Opposition takes government to task in RS over price rise Led by former finance minister Manmohan Singh, the opposition in the Rajya Sabha on Monday launched a blistering attack on the government for its ''failure'' to arrest the spiralling prices of essential commodities, and some of the members went to the extent of demanding its immediate resignation on the issue.
• BSE: 2810.66, Sensex up 27.5 points • NSE: 817.75, Nifty down 6.9 points • Forex: Rs 42.57/58 vs US dollar Rs 70.32 vs pound sterling Rs 24.96 vs deutsche mark Rs 34.49 vs Japanese yen (100) December 16-31, 1998
|
|
|
HOME |
NEWS |
BUSINESS |
SPORTS |
MOVIES |
CHAT |
INFOTECH |
TRAVEL
SHOPPING HOME | BOOK SHOP | MUSIC SHOP | HOTEL RESERVATIONS PERSONAL HOMEPAGES | FREE EMAIL | FEEDBACK |
|