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Tuesday, December 28, 2004

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Reliance board clears buyback, backs Mukesh — Anil abstains from voting
THE board of directors of Reliance Industries Ltd (RIL), in its first meeting after the feud between the Ambani brothers became public, today attempted to soothe investor anxiety by explicitly backing Chairman Mr Mukesh Ambani as the leader of an ... More

Buyback inappropriate at this stage, says Anil
MR Anil Ambani, Vice-Chairman and Managing Director, Reliance Industries Ltd, abstained from voting on RIL's share buyback at the company's board meeting on Monday. According to the company, he also opposed some other resolutions. Much ... More

`Tax structure will be industry-friendly'
THE Union Budget for 2005-06 will usher in an industry and investor-friendly tax structure for the sugar, textile, petroleum and telecom sectors, the Union Finance Minister, Mr P. Chidambaram, said here on Monday. Addressing the 77th annual ... More

BoI, Union Bank boards meet; `merger proposal not discussed'
THE boards of Bank of India and Union Bank of India, which met separately on Monday did not discuss the merger proposal of the two banks, bank officials said. Although there has been media speculation that both banks were meeting to discuss a ... More

No spiralling of drug prices, says Kamal Nath
THE Government has promulgated an Ordinance to amend the Patents Act paving the way for a product patent regime applicable to the drugs, food and chemicals sector in accordance with the commitment made to the World Trade Organisation (WTO). ... More

Tsunami may hit non-life insurers
THE tsunami strike on the Indian coastline is expected to severely knock the bottomlines of all the domestic non-life insurers, both in the public and private sectors. Sources said that the calamity would spark off a series of claims on ... More

Jayalalithaa meets Home Minister, seeks aid — Relief operations stepped up in TN
RELIEF operations have been stepped up in the States affected by Sunday's tsunami (seismic sea waves) that has caused great loss to life and property. The death toll continues to rise and has been put at several thousands, with Tamil Nadu being ... More

Govt asks insurance cos to provide immediate relief
THE Finance Ministry has asked insurance companies to provide immediate relief to victims/their families affected by the devastation caused by Tsunami in the States of Tamil Nadu, Andhra Pradesh, Kerala and Andaman & Nicobar ... More

Geophysicists body to discuss seismicity
The slippages in its plates, have unleashed a massive 8.9 magnitude earthquake, and around 27 after-shocks of over 5.5 magnitude, starting off Sumatra Islands in Indonesia on a quiet Sunday morning to Andaman & Nicobar Islands, a stretch of about More

Banking stocks shine on cautious day
AFTER witnessing hectic activity during most sessions of the previous week, the stock markets started the current one in a hesitant mood. Opening the day on a weak note, the market sentiment on Monday seemed to have been rocked by the impact ... More

Tsunami hits Chennai hotels' New Year plans
THE killer Tsunami tidal wave, which hit the coasts of Southern India on Sunday, leaving thousands dead, has also impacted New Year celebration plans. While most of the leading hotels in Chennai have called off their planned New Year parties, ... More

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