News Digest: Top Newspaper Headlines

I-T knows what you bought last year

15 lakh HNIs spent Rs 11 lakh crore in FY05, a third of India' GDP.

Orascom to have an Indian on HEL board

Egyptian Telco says it isn't aware of provision barring stake buy.

Banks rush for funds as liquidity tap runs dry

Jitters of huge advance tax outflow and expectations of a higher-than-normal funds demand towards the fiscal closing have forced banks to borrow 45-90 days' money at an unbelievable 8-9%.

The Hindu Business Line

Meet soon on EPF investment 

Trustees to discuss parking funds in equities among other avenues.

Trai recommends Rs 200 one-time fee for number portability

Cellular operators said that the cost of implementing the scheme estimated at Rs 1,800 crore could instead be used for providing rural coverage.

Honda Motorcycle and Scooter India to invest Rs 400 crore

Launches 125-cc bike; hopes to sell 1.7-lakh units.

The Financial Express

Russian majors eye Indian ore

Eyes investment in aluminium plants; Plans 10 mtpa steel plant in Orissa.

Drug, auto parts may be de-reserved 

The move follows the Budget announcement of finance minister P Chidambarm that 180 of the 506 items have been identified for de-reservation this year.

In India, US sees huge biz promises  

Spotlight on parts, airports, railway, highways.

Daily News & Analysis

Volkswagen, made in Andhra   

State agrees to German automaker's fresh terms for $1.2 billion plant.

HCL Technologies spots growth in medical devices 

Poised to strike deal with western insurance major.

Mittal plays family card to sweeten Big Bid    

Offers to make family's voting rights equivalent to those of other shareholders.

The Times of India

Government to make Income Tax Act less taxing  

Experts ask for introduction of new kind of law like presumptive taxation.

Service tax not to hit ATM users 

Finance minister clarifies that third parties who provide services to banks in relation to ATM operation maintenance or management are covered under the category of the proposed service.

India bound: Apple to hire 3,000 by 2007  

To hire 1,500 people by the calendar year-end.