Air India, British Airways fare war continuesThe fare war between Air India and British Airways continues, with the British carrier now announcing a cut in its fares on the London-India sector, effective February 24. As against the normal fare of 430 pound sterling, they have announced a fare of 375 pounds ex-London from February 24. This has led Air India to reduce its fares also by an extra five pounds (370 pounds) to "match the offer" made by British Airways.
Small units decry centre order
The government's order `usurping all powers' of Development Commissioner for small-scale industry and turning it into a `redundant outfit' has met with strong resistance from small units. The order, issued on February 17, related to organisational and managerial restructuring. It also attempted to redefine the charter and mission of the department of small industry and agro and rural industries).
PowerGrid's Bhadravati HVDC link
Full commercial operation of the second pole of thehigh-voltage direct current (HVDC) back-to-back 2x500 mw unit at Bhadravati in Chandrapur district of Maharashtra has started, facilitating transmission of surplus electricity to the power-starved southern grid. With both the units commissioned, Bhadravati HVDC project, completed in association with a British firm, GEC Alsthom, at a cost of Rs 950 crore, becomes the largest of its kind in Asia, according to Powergrid Corporation of India.
Coffee exchange by April
The country's first domestic futures coffee exchange, which received the Forward Markets Commission's formal approval last week, is likely to become fully functional in Bangalore by the middle of April, a top official of the exchange has said. "We got the approval on February 25 and with bylaws and incorporation of the exchange in place, we are trying to get the infrastructure ready," exchange chairman Ashwin Shah. Already, the exchange has been incorporated as Coffee Futures Exchange of India Ltd and the authorities had been awaiting theForward Market Commission nod to start work on infrastructure.
entre urged to speed up power regulatory panels
The PHD Chamber of Commerce and Industry has urged the government to speed up the setting up of central and state electricity regulatory commissions to bring about stability in the power sector. While too much emphasis is being laid on increasing generation of power, not much attention has been paid to the transmission and distribution network which is far from adequate, the chamber said in a discussion paper.
JTS Technology investment plans
JTS Technology Ltd plans to invest $10 million annually for the next five years. The company which manufactures computer hard-disk drives (HDDs) expects to expand capacity at its Chennai plant.
`New government must focus of economic growth':
The Federation of Karnataka Chamber of Commerce & Industry (FKCCI) president K Lakahman said the new government at the centre should focus its attention on promoting economic growth anddevelopment. The government should provide more financial support and marketing infrastructure to small-scale industries, he said. The tax system needs restructuring to help increase exports, he added.
Fera violation case registered
Police have registered a case under the Fera Act against Rajinder Kumar of Rurka Kalan village after recovering of Rs 6.30 lakh of hawala money and a Maruti car. The arrest was made by the Goraya police, who registered a case under sections 411/414 of the IPC and sections 9-b and 9-d of Fera.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
