India and Pakistani rice exporters to fight EU
New Delhi: The Indian Rice Exporters Association and the Rice Exporters Association of Pakistan have signed a Memorandum of Understanding pledging to work together to fight the recent European Commission restrictions on duty concessions on the basmati variety of rice.

Under the new EU specifications only the traditional varieties will now be eligible for the concession in duty.

The super-basmati cultivated by Pakistan and the hybrid or evolved variety of the Indian basmati, do not fall in the traditional category, and will no longer be entitled for duty concessions in the EU.
Back to News Review index page  

Steel price hike: ISA says its higher input costs
New Delhi: Through a statement, the chairman of the Indian Steel Alliance, Dr Jamshed J. Irani, has said that the current prices only reflected "the increasing cost of production". According to the alliance, the right approach would be to ensure that necessary steps were taken to make available raw material to the industry at realistic prices.

The alliance has pointed out that between December 2002 and February 2004, the international price of coke has gone up from $120 (Rs 5,400) per tonne to $465 per tonne, while those of melting scrap, pig iron and iron ore have correspondingly risen from $110 to $355 for melting scrap, $110 to $340 for pig iron and $28 to $48.50 per tonne for iron ore respectively. The cost of freight (Cape size from Brazil) has added to the burden with the rates going up by 400 per cent from $9 per tonne in December 2002 to $45 per tonne.

The alliance says that these price increases reflect the increased demand for these commodities in the international market, in particular, China. According to the alliance it is this increase in input costs that has forced the steel players to increase their prices.
Back to News Review index page  

Lok Sabha Polls: BJP releases first list of 136
New Delhi: The Bharatiya Janata Party's central election committee has cleared the names of 136 candidates for the forthcoming Lok Sabha polls. As per the list seven former MPs have been dropped.

The party's old warhorses Atal Bihari Vajpayee, L.K. Advani, and Murli Manohar Joshi, will fight to retain the seats that they already hold. The name of Pramod Mahajan does not figure in the list. The party has decided to shift its UP state president, Vinay Katiyar, from Faizabad, which includes the sensitive constituency of Ayodhya, to Lakhimpur Kheri. Maneka Gandhi (Pilibhit), the petroleum minister Ram Naik, Jayawantibehn Mehta and Kirit Somaiyya are the other prominent names on the list.

The party has also finalised the names of its candidates for all the six seats in Tamil Nadu and one in Pondicherry that were allotted to it by the AIADMK. In Bihar, the party has declared four candidates, all ministers — C.P. Thakur for the Patna seat, Shahnawaz Hussain for Kishanganj, Rajiv Pratap Rudi from Chhapra, and Hukumdev Narain Yadav from Madhubani.
Back to News Review index page  

Hawk Trainers: Deal may be signed today
New Delhi: According to the defence minister, George Fernandes, the Rs 8,000 crore British Aerospace Hawk Advanced Jet Trainer deal is expected to be finalised on Monday. The deal is being negotiated for 66 advanced jet trainers from British Aerospace.
Back to News Review index page  

SC to decide on DD and Ten Sports row today
New Delhi: The Supreme Court is expected to decide the issue of the telecast of the Indo-Pak cricket series on Doordarshan today.

Ten Sports, the sports channel that holds the telecast rights of the series, has taken strong objection to Doordarshan using its own advertisements and not carrying the Ten Sports logo as per the agreement that had been arrived at. The national broadcaster has already splashed the news that it has earned revenue of Rs 10 crore from advertisements.
Back to News Review index page  

FICCI - E&Y report: Big growth for entertainment sector
Mumbai: According to a FICCI-Ernst & Young report the Indian entertainment industry is projected to grow at a compounded annual growth rate of 17 per cent from Rs 19,200 crore in 2003 to 42,300 crore in 2008. The report says that the industry could gain from improved distribution, better use of technology, consolidation, rationalisaton of entertainment tax and a progressive policy.

According to the report, the industry has outperformed the economy in 2003 by growing 15 per cent to Rs 19,200 crore.
The report provides an overview of the various segments - films, television, music, radio and live entertainment, which constitute the entertainment sector. The findings are a result of inputs from leading industry players and an online survey of over 400 respondents.
Back to News Review index page