Financial Daily from THE HINDU group of publications
Wednesday, June 02, 2004

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Govt mulls 49 pc FDI cap in Delhi, Mumbai airports
THE Government is considering a proposal to cap at 49 per cent the foreign direct investment (FDI) limit in the ongoing process for modernisation and restructuring of the Delhi and Mumbai airports. Official sources told Business Line ... More

Singapore, Malaysian firms to buy AT&T's stake in Idea Cell
SINGAPORE Technologies Telemedia (STT) and Telekom Malaysia are together acquiring AT&T Wireless's 33.3 per cent stake in Idea Cellular, the equal joint venture between AT&T and the Tata and AV Birla groups. "A broad agreement has been arrive More

MERC ruling — Tata Power asked to refund Rs 322 cr to Reliance Energy
THE Maharashtra Electricity Regulatory Commission on Tuesday ruled that Reliance Energy Ltd need not bear in equal proportion with Tata Power, standby charges of Rs 33 crore payable to the MSEB every month. The MERC has ruled that for the ... More

FIIs turn net sellers in May
FOR the first time in 17 months, foreign institutional investors (FIIs) remained net sellers in Indian equity markets in May 2004. Driven by political uncertainty and triggered by the possibility of increase in the US interest rates, FIIs ... More

StanChart open to subsidiary route
STANDARD Chartered Bank is looking for more operational flexibility in India and is toying with the idea of converting itself into a subsidiary. The move comes amidst rising competition and its ambition to retain its position as the largest ... More

Despite outsourcing concerns in West — Software exports from Karnataka at record high
SOFTWARE exports from Karnataka have grown by over 46 per cent to record a high of Rs 18,100 crore during 2003-04. Announcing this at a press conference here today, the Director of Software Technology Parks of India (STPI), Mr B.V. Naidu, ... More

HLL expands power brand category
HINDUSTAN Lever Ltd (HLL) has decided to include five new brands in the "power brand" category. These are being considered the company's future growth drivers and, hence, will see added investments. Last year the company had made it clear that ... More

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