The Hindu Business Line : Saturday, June 07, 2003

DoT paves way for industry consolidation — Telecom licences made flexible
THE Department of Telecommunications (DoT) has notified changes in the licence conditions of the cellular and basic service operators, which will enable greater consolidation in the telecom sector through merger, de-merger and acquisition. As ... More

Dutch entity FMO may pick up stake in 2 Shriram group cos
THE Dutch development finance institution, FMO, is likely to pick up equity stake in two companies of the Chennai-based Shriram group. It is expected that the investing agency will pick up between 5 and 10 per cent each in Shriram Investments Ltd ... More

ABN-Amro says six banks shortlisted
ABN Amro is looking at various options including acquiring a private bank or setting up a subsidiary to expand its operations in India. "We are looking at all possible options of acquiring majority stake in an Indian bank or setting up a ... More

ING on the prowl again for acquisitions
THE ING group is looking for bank acquisitions after having consolidated its holding in Vysya Bank Ltd. Speaking to Business Line, the Managing Director and CEO of ING Vysya Bank Ltd, Mr Bart Hellemans, said: "We will look forward to ... More

Lalbhais to take Mauritius route for apparel exports — Arvind Mills setting up jt venture co
THE Lalbhais have decided to take the Mauritius route for undertaking export and import of readymade apparels. The group flagship — Arvind Mills Ltd — is in the process of setting up a joint venture company with the Mauritius-based ... More

IOC declares 1:2 bonus
INDIAN Oil Corporation (IOC) has declared a 1:2 bonus issue to its shareholders. The IOC board, which met on Friday, recommended issue of one share for every two shares held by the shareholders, according to an official release. Speaking to ... More

Customs restricts DEPB credit to meet tax target
WORRIES on the revenue front are forcing customs authorities to resort to desperate measures to achieve monthly collection targets. While denial of duty drawback claims of exporters is an `accepted' practice followed by the Revenue Department ... More

L&T bags $103-m Lafarge order
THE French multinational Lafarge S.A has chosen Larsen and Toubro, its competitor in the cement business in India, as its EPC contractor for building a 1.2 million tonnes per annum cement plant in Bangladesh. For L&T, the order valued at $103 ... More

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