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What is India News Service,
Wednesday, May 11, 2005 1730hrs IST
Seeking to create a single window system to facilitate processing and approvals, the Indian Parliament passed the new
Special Economic Zone (SEZ) Bill.
This law would provide fiscal incentives to developers of these
zones. However, the bill contained an official amendment that dropped
provisions that would grant States flexibility in labor laws.
Despite this restriction, there is a high
degree of expectation that the provisions of this Bill will attract large
Foreign Direct Investment. It is not clear if this law would violate WTO
rules of providing excessive incentives and therefore making the
competition uneven.
Economy
Nama talks and what needs to be done
The Third World Network (TWN) organised a day-long meeting in Geneva on the ongoing negotiations on non-agricultural market access (Nama) at the World Trade Organisation (WTO). The discussions focussed on the options available to developing countries unde
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Business
BenQ seeks Indian talent to beat Korean giants
BenQ Corp., Taiwan's top maker of computer gear and mobile phones, is relying on a new team of Indian software engineers to help take on its Korean rivals, the president of its Asia Pacific operations said.
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Fixed prices cost oil firms Rs 5,860 cr
Public sector oil retailing firms had under recoveries of over Rs 5,860 crore in the first six weeks of current financial years due to non-revision of petrol, diesel, cooking gas and kerosene prices in line with the spurt in international oil prices and i
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Move over, Ford, GM, India seen as auto giant
India and China may become dominant production centres for their growing automobile markets, as well as for exports, over the next 10 years or so, according to a study conducted by KPMG.
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Oil companies' losses mount since April
The under-recoveries of oil companies on sales of petroleum products owing to high international crude oil prices and increase in duties have reached Rs. 5,800 crores since April 1.
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Skies to open for EU carriers
The European Union and India are all set to negotiate a new bilateral agreement that will allow European carriers unrestricted access to India.
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Corporate
Essar strongest contender for BPL Mobile business
BPL Communications, the holding company of BPL group for telecom business, is believed to be closing discussions with Essar, STT, Vodafone and Systema to offload up to 49% stake in itself or its two subsidiaries -- BPL Mobile and BPL Cellular.
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GAIL in talks to buy Indonesian LNG for Dabhol
GAIL (India) is in discussions with the Indonesian gas company BPMIGAS for sourcing liquefied natural gas to restart the Dabhol power project.
GAIL is trying to buy the 2.3 million tonnes a year spare capacity available at the Bontang LNG liquefaction p
| In the first ever overseas
acquisition, Chennai based Malladi Drugs bought the leading producer of
Ephedrine and Pseudoephedrine in the United
States for an undisclosed amount. |
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Microsoft teams up with TCS
US computer software giant Microsoft Corp. and India's biggest software services exporter, Tata Consultancy Services, announced plans on Tuesday to jointly deliver information technology solutions.
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'Mobilis' PC @Rs10K! Encore, Encore!
Encore Software Ltd said it would launch a range of cheap desktops costing between $230 to $280, three years after it launched the $200 'Simputer', a handheld device.
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Now, a mobile desktop at Rs 10,000
Making computers cheap and affordable, the government on Tuesday launched a Rs 10,000 battery-run computer, the mobile desktop, which is much lighter than the currently available products.
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Policy gives Reliance 3G edge
The Telecom Regulatory Authority of India's (Trai’s) draft spectrum policy has proposed that the country's largest code division multiple access (CDMA) operator, Reliance Infocomm, be given additional spectrum to offer 3G-equivalent services.
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Summary
The Lok Sabha passed the
Special Economic Zone Bill aiming to make it easier for developers to create
such zones and attract Foreign Direct Investment India and European Union will sign bilateral Agreement that
will provide all European Carriers access to Indian airports
KPMG is projecting India to be a major
Auto manufacturing giant by KPMG
In first ever overseas acquisition by an Indian Pharmaceutical company, Malladi
Drugs bought the leading producer of phedrine and Pseudoephedrine in the United
States
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