Centre plans to set up national patent office: The Union Government is examining a proposal to restructure and modernise the patent administration by turning its Delhi office into a national patent office. According to the proposal, awaiting Cabinet nod, the national patent office will process all applications for final clearance. Other patent offices located in different metro cities will only receive applications and will provide information and advisory services.

SEBI, DCA to work in tandem on nabbing `vanishing cos' promoters: Finance secretary Vijay Kelkar has got SEBI and the department of company affairs towork out a common action plan to crack down on promoters of "vanishing companies". This follows the prime minister's recent statement that he would instruct the finance ministry to take action against such companies.

Bhutan bans Onjus sale: Bhutan has banned sale of `Onjus', an orange juice brand marketed by Enkay Texcfood, following reports that it contained synthetic food colours. Onjus sale was banned by the Bhutan ministry of trade and industry from October 28, Bhutanese national newspaper `Kuensel' reported. The ban follows a case filed by the Indian department for prevention of food adulteration in New Delhi last month.

LG Electronics, Dixon opt for KVS scheme: LG Electronics India and its contract manufacturing partner Dixon Utilities of the Weston group have opted for Kar Vivad Samadhan scheme to settle their excise outstandings. Dixon was manufacturing of televisions for LG Electronics till a few months ago. The two companies had been charged with under-valuation of televisions bythe directorate general of anti-evasion (excise) in March this year.Usha Beltron to be renamed as Usha Martin: Usha Beltron Ltd of the Jhawars is all set to change its name to Usha Martin Ltd this fiscal, according to sources in the company. This is for the second time in a span of just one year that the company is going to change its name. The shareholders have already approved the proposal of changing the name of the company and clearance is awaited from appropriate authorities," a senior official of the company said.Hindustan Motors, Mangalam Cement issues devolve on standby underwriters: Two major rights issues by Hindustan Motors and Mangalam Cement have devolved on financial institutions in the last one month. The retail response to the issues has been pathetic and the collections by the HM issue are a little over 47 per cent of the targeted amount of Rs 53.74 crore. The shortfall will now have to be bridged by the institutions which had standby underwriting commitments.

US,Japan to promote trade ties with Andhra: Several countries including the USA and Japan have shown keen interest in promoting trade and economic relations with Andhra Pradesh. The ambassadors and high commissioners of these countries have lauded the pro-active approach of the state government. The ambassadors of Germany, Belgium, Kuwait, Canada and Singapore also showed interest in better trade relations while participating in the week-long celebrations of AP formation day which concluded in New Delhi recently.

Inflation rate rises to 8.20 per cent: Mirroring the continued rise in prices of essential commodities, the annual rate of inflation spurted to 8.20 per cent during the week ended October 24 after breaking its three-week declining spell. Inflation for the corresponding week of last year stood at 4.05 per cent.

SC to hear plea on vegetable price rise on Nov 30: The Supreme Court will hear a petition on the vegetable price rise on November 30. Complaining that the prices of commonvegetables like onion and potato have been increasing at an exorbitant rate since January this year, the petition charged the Central government and the states with the failure to discipline both the retail and wholesale dealers. While the farmers were still getting the same price for the produce, the dealers were making money by indulging in hoarding and the government had been a silent spectator, petitioner Pradeep Bhavnani said.

EU may ban Indian fish processing products: The Indian fish processing industry may face a ban on fish imports by European Union (EU) for its poor track record of labour rights. Such a ban could play havoc with the lives of about a lakh of people directly involved in fish processing and several lakh more indirectly, says an NGO study. India, the second largest exporter of marine products among developing countries, fetched Rs 4642.93 crore of foreign exchange by exporting 379,586 metric tonnes of marine products last year.

Indo-EU talks on auto policy in Dec: TheEuropean union (EU) is likely to hold bilateral negotiations with India before the middle of next month on country's automobile policy, commerce ministry sources said. Though the place for holding the negotiations has not been decided, it could be either in New Delhi or in Geneva. In case, EU feels that no understanding would be possible with India, then it could ask WTO to set up a dispute settlement panel (DSP). EU had sent a formal notice to India for consultations during the second week of October after EU council of foreign ministers decided to drag New Delhi to the WTO.

Central Bank posts Rs 132cr operating profit in H1: The Central Bank of India (CBI) has earned an operating profit of Rs 132.88 crore in the first half of the current fiscal year as against Rs 102.15 crore during the corresponding period of last year. Since September 30, 1997, the aggregate deposits of the bank increased by 18.94 per cent from Rs 24,107 crore to Rs 28,673 crore till the end of September 30 this year.

Rs2,536cr SBI funds locked up in litigation: SBI has the highest amount of Rs 2,536.42 crore locked in litigation, according to RBI's list of borrowal accounts of Rs one crore and above. Altogether 445 accounts make up the sum SBI is seeking to recover through legal means, which includes Rs 812.08 crore from Harshad Mehta.