SPECIAL COVERAGE
CHANDIGARH

LUDHIANA
DELHI



THE TRIBUNE SPECIALS
50 YEARS OF INDEPENDENCE

TERCENTENARY CELEBRATIONS

B U S I N E S S

Costly power, high taxes to hit cement sector: study
New Delhi, August 13
 The cement industry had registered a growth of 10 per cent in 2005-06 but crucial bottlenecks coupled with slow pace of infrastructure projects may curtail growth of the industry this fiscal, industry body Assocham said.

Deora asks FM to reduce excise on petro products 
Dehra Dun, August 13
 Petroleum Minister Murli Deora said today he had again asked Finance Minister P. Chidambaram to reduce excise duty on petroleum products and that oil giants, including the ONGC, must concentrate on exploration.

Metal Box sells Faridabad unit
Kolkata, August 13
 Closed Metal Box Limited, awaiting implementation of the AAIFR sanction scheme of 2000, has disposed of its Faridabad property to Lakhani India Limited at a consideration of Rs 10.15 crore.
Ms Pallabi Chatterjee, actress and daughter of Bollywood veteran Biswajit, at the inauguration of a home appliances exhibition Steeljunction privileges Ms Pallabi Chatterjee, actress and daughter of Bollywood veteran Biswajit, at the inauguration of a home appliances exhibition "Steeljunction privileges" in Kolkata on Sunday. — PTI








EARLIER STORIES

Pidilite eyes acquisition in China
Beijing, August 13
Pidilite Industries Ltd is scouting for acquisition of a Chinese adhesive company to expand its operations in the booming construction market of the Communist giant. “After establishing a representative office in Shanghai, we are now looking at acquiring a Chinese adhesive company to expand our operations in China,” Country Manager-China, Pidilite Industries Ltd, Ranjan Mukherjee said.

Sahara to market low-cost laptops
New Delhi, August 13
Sahara Computers will focus on north India, especially Punjab, to sell laptops costing below Rs 25,000. “Selling computers at that rate is not a distant dream anymore as the cost of production has come down due to growing volumes to meet the demand,” said Chief Operating Officer George Van Der Merwe of Sahara Computers and Electronics Ltd (SCEL), a joint venture between South Africa's Sahara Computers Ltd and the Sahara India Pariwar.

Market Update
Markets perk up on FII buying
Markets continued their winning streak last week. Both Sensex and Nifty ended the past week with more than 3 per cent gains. While Sensex closed at 11,192, Nifty ended the past week at 3274.

Tax Advice
Deduction up to Rs 50,000 allowed u/s 80DD
Q. My problems and queries relate with Section 80DD of the IncomeTax Act.

OVL set to buy US firm
Dehra Dun, August 13
ONGC Videsh Ltd (OVL), the overseas investment arm of ONGC, and Chinese firm Sinopec will pay about $820 million to acquire US firm Omimex de Columbia. OVL-Sinopec will acquire 50 per cent stake of Omimex de Columbia by the month-end, industry sources said.