Airlines
India-UK air pact `boon' for Virgin Air
THE recent air services bilateral agreement agreed to by India and the UK has come as a boon for Virgin Atlantic Airlines (VAA) which is scheduled to launch a thrice-a-week service on the India-London sector in July this year.
Banking and Finance
RBI to release daily data on money markets
THE Reserve Bank of India (RBI) has decided to release data on call, notice and term money market and liquidity support from its open market operations on a daily basis after taking into account suggestions from market participants.
Three shortlisted for Nedungadi Bank recast
NEDUNGADI Bank has shortlisted KPMG, PricewaterhouseCoopers and A.F. Ferguson to advise it in its proposed restructuring exercise.
Patil favours integration of equity, debt markets
THE Indian capital market is destined to witness major fundamental changes in the new century, where the stock exchanges would move away from the traditional single-product entities and shape into financial super markets, according to the Managing Direct
or of the National Stock Exchange of India Ltd (NSE), Mr. R. H. Patil.
Corporate
TCS ties up with TVSE
TATA Consultancy Services (TCS) and TVS Electronics Ltd (TVSE) have signed an agreement under which, TVSE will bundle TCS' EX Personal Accountant with its dot matrix printers.
Hopes on companies Bill passage
THE Election Commissioner of India and former Secretary, Department of Company Affairs (DCA), Mr. T.S. Krishna Murthy, has expressed the hope that the Companies (Second Amendment Bill, 1999) would be passed in the next session of Parliament.
GM shortlists 3 models for next offering
GENERAL Motors India (GMI) has shortlisted three vehicles, out of which one will be chosen as its next offering in the Indian market.
Telesys Software issue to open on Feb 10
THE city-based Telesys Software Ltd (TSL), which was incorporated in 1992, is to come out with a public issue of five million equity shares of Rs. 10 each for cash at a premium of Rs. 5 per share, to raise Rs. 7.50 crores. The issue opens February 10 and
closes on February 14.
Jindal Vijayanagar shares for promoters
THE board of Jindal Vijayanagar Steel Ltd (JVSL) recently cleared a proposal to issue 40,43,32,140 equity shares of Rs. 10 each to the promoters/associates of the company. The board also okayed a proposal to increase the borrowing limit to Rs. 6,000 cror
es from the current level of Rs. 4,500 crores.
No plans to shed stake in Maruti: Jaitley
THE Government has said that it has no plans to divest its shareholding in the country's largest car manufacturer, Maruti Udyog Ltd (MUL).
Shimadzu proposes software development centre in India
SHIMADZU Corporation, the $2-billion Japanese company which manufactures medical and diagnostic instruments, aviation and environmental equipment, plans to set up a software development centre in India.
`Primary market key to corporate sector growth'
THE mission of the financial system in the coming years should be to improve productivity, cut costs and offer a menu of services to suit the needs of an economy that is diversifying and growing strongly, said Dr. C. Rangarajan, Andhra Pradesh Governor,
here on Saturday.
1:1 bonus from Unichem Labs
THE board of directors of Unichem Laboratories Ltd has recommended a bonus issue of one share for every share held.
Economy
GDP growth to top 6 pc: Sinha -- Hopes on winter crop, timely rainfall
THE Finance Minister, Mr. Yashwant Sinha, said on Saturday the economy's growth in the current fiscal would be over 6 per cent as against the 5.9 per cent GDP growth forecast in the ``advance estimates'' released by the Central Statistical Organisation (
CSO) on Friday.
Excise and customs law
CEGAT imposes fixed duty on SBR imports -- Modifies Designated Authority's proposals
IN a significant ruling, the Customs, Excise & Gold (Control) Appellate Tribunal (CEGAT) has converted the variable anti-dumping duty recommended by the Designated Authority in the Commerce Ministry on styrene butadiene rubber (SBR) imports into a fixed
dollar-denominated duty.
Foreign Trade
Traditional items' export growth stays sluggish
IN spite of the 17.2 per cent export growth registered in December 1999 over December 1998 in rupee terms, the Commerce Ministry is concerned over the continued poor growth of important traditional items such as textiles, plantation crops, particularly t
ea and coffee, and oilmeals which will have an adverse impact on overall exports in view of their lion's share in total exports.
Information Technology
How wide is the Web, really?
IF you thought Internet was an all pervasive medium in the developed countries such as the US, think again. According to Mr. Stephen H. Wildstrom, `Technology and You' Editor, Business Week, USA, only a little more than half of all households have PCs an
d among these households, only a little more than half are connected to the Internet.
`Market for ASPs growing'
TRADITIONAL enterprise solution providers are the mainframes of this decade, according to Mr. Pradeep Singh, Aditi Technologies.
MTL Instruments to be wholly-owned outfit
THE Chennai-based MTL Instruments Ltd, a subsidiary of MTL Instruments Group Plc of the UK, will shortly become a 100 per cent subsidiary of the parent company.
Miscellaneous
Hike withheld
NEW DELHI: The Ministry of Railways has decided to withhold the implementation of the freight rate hike for transportation of magazine parcels. The rate hike came into force from February 1. _ Our Bureau
Travel agents call for eco stability in tourist spots
WHILE the Union Government tries to enhance the earnings and employment from the tourism sector, equal attention should be paid to environmental stability in places of tourist interest, the Travel Agents Association of India (TAAI) has said.
`Need to extend competition law to financial sector'
THE competition law must be extended to the financial sector, according to Mr. D. R. Mehta, Chairman, SEBI.
Mutual Funds
Kotak Mahindra MF plans 2 new schemes
KOTAK Mahindra Mutual Fund has become the latest member of the Rs. 1,000-crore-assets club, courtesy its recent thrust on distribution and regular inflows into its schemes. The fund is now conducting a pre-marketing exercise for K MNC and K Technology, s
chemes that will focus on two distinct investment themes.
PSU
IA sell-off: Shareholders' pact on Modern Foods model
THE recent shareholders' agreement entered into by the Government with Hindustan Lever Ltd (HLL) for the disinvestment in Modern Foods Industries Ltd (MFIL) would form the basis for a similar agreement to be drawn up for disinvestment in the domestic car
rier, Indian Airlines.
States
10-yr schedule `unacceptable' for Karnataka expressway -- Project going nowhere, says task force
THE Task Force on Karnataka Infrastructure headed by the economist and Congress advisor, Mr. Jairam Ramesh, has made it clear that the 10-year implementation schedule for the Bangalore-Mysore Expressway is unacceptable and that if the project is to be ta
ken up it should be completed in two years.
Stocks
Pick A Winner Stock Contest
The DSQ Biotech scrip has posted the highest gain of 330.83 per cent among the entries received for the month of January 2000. The share price of the company moved up from Rs. 59.35 to Rs. 255.7 during this period.
