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Friday, September 02, 2005

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Chidambaram hints at excise cut on cars
Auto industry for phasing out old commercial vehicles

Legacy issues hamper FDI: U.S. envoy
Reform process needs to continue

New SIAM President
NEW DELHI: Madhur Bajaj, who is Vice-Chairman of Bajaj Auto, was elected President of the Society of Indian Automobile Manufacturers (SIAM) on Thursday. He succeeds Maruti Udyog Managing Director Jagdish Khattar, who has competed his two-year ...

TCS, Infosys bag mega deal from ABN Amro
IBM chosen for IT infrastructure.

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Rs. 10,500 cr. excise claim on RIL
AHMEDABAD: The Central Excise Department has slapped a notice on the Jamnagar refinery of Reliance Industries for recovery of duty and penalty of Rs. 10,500 crore. Neither the Central Excise Commissioner nor RIL was prepared to divulge the ...

Steel companies hike prices
NEW DELHI: Major steel companies on Thursday raised prices by 2.5 per cent, citing pick-up in global markets and easing of inventory levels. While public sector Steel Authority of India jacked up prices by 2.3 per cent for all its products, Tata ...

ICICI Bank revises NRE deposit rates
MUMBAI: ICICI Bank has increased its deposit rates on NRE fixed deposit and FCNR deposits by 0.08 percentage points for various maturities with effect from Thursday, the bank said in a release. ...

U.S. slaps quotas on more Chinese textiles
WASHINGTON: The U.S. government announced restrictions on imports of two more categories of Chinese garments on Thursday, hours after crunch talks in Beijing failed to reach a deal on textiles trade. The Committee for the Implementation of ...

GE Money now in Chennai
CHENNAI: GE Consumer Finance, a unit of General Electric Company, on Thursday announced the launch of GE Money in Chennai and South India. Addressing a press conference, the President and CEO, Vishal Pandit, said the move was part of a global ...

IOB raises NRE deposit rates
CHENNAI: Indian Overseas Bank has raised the interest rates on NRE term deposits for one year to less than two years by ten basis points with effect from September 1. The new rates valid for one month are: 4.80 per cent for one year to less than ...

Hero Honda sells 2.5 lakh units
CHENNAI: Hero Honda has sold 2.46 lakh motorcycles during August 2005 against 1.92 lakh motor cycles, a growth of 28.5 per cent over the corresponding month in the previous year. The cumulative sales for April-August stood at 11.64 lakh motor ...

Bajaj Auto posts higher sales
NEW DELHI: The total sales of two and three wheelers of Bajaj Auto in August have risen to 1.87 lakh units from 1.40 lakh units in the same month last year. Exports have increased by 75 per cent to 23,752 units from 13,575 units in August 2004. ...

TVS Motor sales exceed one lakh vehicles
HOSUR: TVS Motor has increased the sales of two wheeler to 1.03 lakh units in August against 89,500 units in the same period in the previous year, a growth of 15 per cent. The company is launching three new products this week to cash on the ...

AIMO-TNSB office-bearers
CHENNAI: K. E. Ragunaathan, Managing Director of Solkar Solar Industry, has been elected Chairman of the All-India Manufacturers Organisation (TNSB) for the year 2005-06. Srinageswar and R. Radhakrishnan have been elected Vice-Chairmen, while S. ...

SCMF launches Premier Equity Fund
CHENNAI: Standard Chartered Mutual Fund is launching its second equity fund, Premier Equity Fund. It is an unrestricted, diversified equity fund with an objective of creating wealth over the longer term. The new fund will open on September 5. The ...

Antioxidant syrup from Jagsonpal Pharma
NEW DELHI: Jagsonpal Pharmaceuticals on Thursday launched LycoRed syrup, the first antioxidant syrup in India as a preventive measure against various diseases and for fitness and general well-being. The company said LycoRed contained Lycopene, a ...

Idea Cellular's new service
NEW DELHI: Idea Cellular has launched a new value-added service, Music Masti, on its voice portal that allows subscribers to preview and download ring tones, dedicate and gift songs. The service has been priced at Rs. 6.99 a minute for accessing ...

PFC sanctions Rs. 2,891 crore to DVC projects
NEW DELHI: The Power Finance Corporation has sanctioned two major loans to the tune of Rs. 2,891 crore to the public sector, Damodar Valley Corporation, for executing two 500 MW projects in Jharkhand and West Bengal. PFC has approved a loan of ...

CashTech wins award in cash management
NEW DELHI: Banking and cash management solutions provider, CashTech Solutions, on Thursday said it had received two international awards for its cash management products. CashTech was adjudged the `Best Cash Management Software Company' in ...

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