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Business & Economy
Foreign experts may quit
plan panel groups
What is India News Service, Monday, 27 Sept 2004, 2000 hrs IST
With the Left parties firm in their stand against the inclusion of representatives of the World Bank and the Asian Development Bank in the consultative groups of the Planning Commission, it seems that these representatives will have to withdraw.
"Their withdrawal is almost a certainty. The issue has gone beyond the Deputy Chairman of the Planning Commission, Montek Singh Ahluwalia, and now rests with the Prime Minister, Manmohan Singh," official sources said in Delhi.
Though the withdrawal of the foreign experts could cause embarrassment to the government, the sources said this would not affect the functioning of these institutions since the Left leaders had made it clear that they were not opposed to World Bank or ADB funding for projects in India.
Bangalore suburb to be $2.9 bn smart city: It is the biggest foreign direct investment in India\92s real estate sector. Vancouver-based Royal Indian Raj International Corporation (RIRIC) will invest a staggering $2.9 billion in a single real-estate project named Royal Garden City in Bangalore over a period of 10 years.
The Maruti saga
Various reasons have been adduced for Suzuki's recent announcement of new projects in India. Happily a compromise solution has quickly ended the controversy. But there are lingering doubts about its impact on Maruti Udyog and its stakeholders.
Opinion
A just settlement?: The controversy over Suzuki's future plans has ended for now. But is the solution right for Maruti and its stakeholders?
Suzuki kisses and makes up: Maruti Udyog Limited, the Suzuki-owned car company and the government of India, its largest other shareholder, have kissed and made up.
Rs 7,500 cr parts business rides on Maruti's plans: Suzuki Motor Corporation's expansion plans, which set the Japanese company on a collision course with the government, could turn out to be a big push for the automobile components industry.
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Inflation rises to 7.87 per cent: After marginal fall during last week, the inflation has again increased to 7.87 per cent in the week ended September 11.
No excise relief on petro goods supplied to EOUs: The Finance Ministry has turned down a request to allow petroleum products to go from refineries to export oriented units (EOUs) without payment of excise duty.
BPCL ready for forward trading: Bharat Petroleum Corporation Ltd plans to begin forward trading in crude oil and petroleum products next month.
Bajaj Electricals may spin off engineering division: Bajaj Electronics, which manufactures and markets consumer electronics and luminaries, plans to turn its engineering and projects business unit into a separate company.
HCL To Outsource 250 Jobs To Northern Ireland: IT major HCL Technologies Ltd has decided to create 250 jobs in Northern Ireland as part of its call centre expansion plan, thus reversing the trend of outsourcing.
Draft rules soon on transfer pricing: The Ministry of Company Affairs is working on a set of draft rules on transfer pricing under the Companies Act.
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Split in Karnataka film industry, exhibitors to defy ban: While the exhibitors will release non-Kannada films from Oct 1, the film chamber of commerce has decided to hold talks with south Indian and national film bodies.
Printing exhibition draws visitors: The first order in the region for innovation in the automated plate making process in the printing and packaging industry \97 the Computer-to-Pate machine process \97 was placed at North Print 2004 here today. The order is valued at Rs 1 crore.
SC issues notices to BCCI, ESPN, Centre on telecast row: The Supreme Court issued notices to the Board of Control for Cricket in India, ESPN-Star Sports and the Centre on a petition filed by Zee Telefilms Ltd.
Textiles outsourcing, US' new bugbear: There could be a new twist to the outsourcing debate in the US, with the textiles sector now taking over from the ITES (IT-enabled services) sector as the bugbear of the American industry.
Kingfisher Airline talking with IA on outsourcing: The move is aimed at reducing KFA\92s cost of operations which has adopted low cost structure as its business model.
Rs 5-cr assets seized from top Excise officer: In the biggest seizure of money from a government servant in the country, the CBI today unearthed unaccounted assets worth over Rs 5 crore, including cash Rs 2.7 crore from the residences of Commissioner of Central Excise P K Ajwani and his friend.
IT companies prefer Kolkata to Gurgaon: A large number of information technology (IT) companies are expanding their operations in Kolkata instead of Gurgaon in Haryana where they had originally set up their units.
NTPC plays down risks in prospectus: The NTPC has down played major risks listed in the red herring prospectus of the company's IPO which will hit the market next month through the book-building route.
Asians drive through Chicago: Over 20 per cent taxi drivers in Chicago are from South Asia, the highest figure for all metro areas in the US.
Overall:
Foreign experts may quit: The Left is sticking to its stand, and the Planning Commission may have no option but to have the foreign experts out of its consultative groups.
Textile outsourcing became a new US bugbear: American industry is turning its attention to a new area, and blaming India for loss of business.
Kolkata scored over Gurgaon: The IT industry is saying Kolkata is a better place to set up business.
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