Business & Economy

Techies take up relief
work in Nagapattinam

What is India News Service, Saturday, 1 January 2005, 2000 hrs IST


Several groups of young software engineers from Bangalore and Chennai have arrived at various parts of Nagapattinam district to carry out relief operations. 

These groups, comprising professionals, both men and women, from companies like Wipro, Infosys, Accenture, AdventNet, Xerago, arrived on Friday night. They have brought with them generous contributions of their fellow employees to help those affected in the district, the worst-affected in Tamil Nadu. 

One group of eight young men working in top software companies in Bangalore was seen enquiring about the needs of the victims. 

The young men have done a lot of homework before plunging into relief operations. They have collected details about the places that have been worst-hit. They have also consulted service organizations that had offered services in Gujarat during the earthquake.

Chennai Port Trust plans artificial beach: As a consequence of last Sunday's tsunami, the Chennai Port Trust (ChPT) plans to create an artificial beach to protect the Chennai port from seaside from such natural disasters. 

Current account deficit put at $3.25 billion in first half: Driven by a surge in import payments for crude oil, petroleum products and merchandise, the current account saw a deficit of $3.25 billion in the first half ended September 30, 2004. 

Pharma pops the patent pill: The Indian pharma industry is preparing to face many new challenges \97 and several old fears \97 in the coming months.

Sensex vaults 85 points on last day of year: An unprecedented last day surge in foreign institutional investment inflows sent the benchmark scaling a new high of 6602.69 on the Bombay Stock Exchange today, a single session rise of 80.15 points. 

Rupee spurts to five-year peak: The rupee spurted to a nearly five-year closing peak of 43.45/47 a dollar, buoyed by robust foreign institutional investment inflows into a booming stock market amidst a sliding dollar overseas.

GoM discusses FDI in print media: The Group of Ministers (GoM) set up to look into the print media on Friday discussed possible amendments to the Press and Registration of Books (PRB) Act, 1867, and FDI levels in print media.

GDP growth declines in Q2: The agricultural sector recorded a negative growth of 0.8 per cent during the second quarter as against 3.4 per cent in the first quarter. 

External debt rises marginally: The long-term debt outstanding amounted to $107.1 billion by September end, showing no significant change over the previous quarter.

Inflation rate drops to 6.5 per cent: The finance minister has remarked that they were doing everything to reduce the inflation rate but the higher global crude oil prices is doing the damage.

FDI inflows up 54 pc in 2004: India continued to remain an attractive destination for investment during 2004 with foreign direct investment inflows 
(FDI) growing by 54 per cent. 

GE back to double-digit profit path: The GE chief executive has said that net profit may grow by as much as 17 per cent next year with such 
growth sustainable for several years to come. 


Business papers 

Business Standard
Economic Times
Business Line
Financial Express