| AEP bidding for wind purchases in eastern US
American Electric Power said Tuesday that it issued two requests for proposals seeking long-term wind energy purchase agreements. According to AEP, the proposals are part of the first steps of the company toward its goal of adding 1,000 megawatts of new wind energy by 2011 and a "comprehensive strategy to address greenhouse gas emissions." The requests for proposals are for up to 260 megawatts of wind energy for AEPs Appalachian Power utility unit and up to 100 megawatts of wind energy for AEPs Indiana Michigan Power utility unit, the company said. The 360 megawatts of wind energy included in the two RFPs equals almost 60 percent of the currently installed wind generation in the PJM Interconnection, a regional transmission organization that covers all or parts of 13 states ranging from Illinois to North Carolina to New Jersey.
Tax raids on art auction houses in city
MUMBAI/NEW DELHI: The income tax department on Tuesday conducted raids and surveys on two prominent art auction houses—Osian's and Saffronart—and the Sakshi Art Gallery in Colaba for alleged tax violations.
Raids were also conducted at their residences and their Delhi offices. With the art market witnessing an unprecedented price boom, trading in art has come under the scrutiny of the taxman.
The growth in the market has not only seen the rise of auction houses, but also the setting up of art funds such as those started by Osian's and Sakshi (Yatra Art Fund).
Art funds operate on the principle of mutual funds except that investors' money is used to buy art, not shares.
In this year's budget, the government has also decided to tighten the tax norms by proposing to levy tax on the gains made through sale of art work.
Bidding problems cause delay on courthouse construction
The proposed new federal courthouse in Great Falls is delayed because of complications in the bidding process, but federal officials expect a contract to be awarded soon with construction to get under way this summer. "We've experienced some delays, but are still moving forward," said project manager Shelley Smith of the Denver regional office of the General Services Administration. "I'm still negotiating with the development companies that submitted bids. Great Falls folks will see a flurry of building activity after the award is made." .
Dust control bids awarded to Overland Park firm
Scotwood Industries of Overland Park was awarded its bids for delivering and applying magnesium chloride to control dust on Miami County's gravel roads.Staff at the Miami County Highway Department selected about 400 miles of county gravel roads for magnesium chloride treatment this spring. Travel patterns, traffic patterns and detour routes were criteria used to selected the road sections to be treated.The County Commission awarded Scotwood's bids of $21,315 for delivery and $161,455 for the application of the magnesium chloride. Envirotech of Greeley, Colo., bid a delivered price of $20,909 and an applied price of $162,974J.R. McMahon, county public services director, recommended awarding both bids to Scotwood. The company has supplied magnesium chloride to the county in previous years and is familiar with county roads and staff.
Steps Underway To Boost Bangladesh's Bond Market
Dhaka, Bangladesh (AHN) - The Bangladesh Bank (BB), the country's central bank, is going to amend the existing guidelines for primary dealers (PDs) allowing commission and liquidity support with a view to activating the country's secondary bonds market, officials say in the capital, Dhaka. Besides, the central bank might allow only PDs to participate in government-approved securities, including bonds auctions from the first day of the next fiscal year 2007 to 2008, they added. A high-level team comprised of senior BB officials supported by an International Monetary Fund (IMF) consultant is now working on the proposed amendment to bring dynamism in the market by ensuring financial benefits for the PDs. "We will provide liquidity support to the PDs to meet their fund demands," a BB senior official told AHN in Dhaka on Saturday.
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