The Hindu Business Line : Saturday, November 01, 2008

GOVERNMENT

POLICY: Basic customs duty on jet fuel goes; IOC cuts price
But airlines hold out no promises on fare cuts. New Delhi, Oct. 31 The basic customs duty of five per cent on aviation turbine fuel (ATF) has been completely removed. The sale price of ATF has also been reduced by 15-17 per cent across the four ...

FINANCIAL POLICY: Cabinet okays hike in FDI in insurance to 49 pc
LIC amendment Bill also to be introduced. Our Bureau New Delhi/Hyderabad, Oct. 31 The Union Cabinet has given its approval for the introduction of the Insurance (Amendment) Bill, 2008 to increase the upper cap of foreign direct investment from ...

POLICY: Cabinet approves revival of HFCL Barauni unit
National Fertiliser, RCF, Kribhco to jointly revive the unit. New Delhi, Oct. 31 Public sector fertiliser companies — National Fertilisers Ltd (NFL) and Rashtriya Chemicals and Fertilisers Ltd (RCFL) — along with the second largest ...

POLICY: ILFS-ORIX among 40 FDI plans cleared
New Delhi, Oct. 31 A proposal from ILFS-ORIX Trust Company Ltd to bring in foreign direct investment (FDI) worth Rs 400 crore from Foreign Offshore Fund by issuing units of the Trust was among the 40 FDI proposals approved by the Government ...

POLICY: Govt okays Bill to revamp highways authority
New Delhi, Oct. 31 The Government has cleared the National Highways Authority of India (NHAI) Amendment Bill, paving the way for restructuring the authority enabling it to execute its delegated ...

POLICY: Cabinet okays South Asian University Bill
New Delhi, Oct 31 The proposed South Asian University Bill has received the Union Cabinet’s nod to be presented before ...

POLICY: Govt scraps export duty on select steel products
New Delhi, Oct 31 To encourage Indian steel makers to export despite falling global prices, the Government today withdrew the export duty on certain steel products like pig iron, iron and steel ingots, bars, rods, angles, shapes and ...

FOREIGN RELATIONS: Cabinet nod for liberalised air services with Iran
New Delhi, Oct. 31 Airlines from Iran will soon be able to operate a daily flight to Kochi and Delhi. This follows the Union Cabinet giving its approval for the signing of a new and more liberalised air services agreement (ASA) between India ...

POLICY: Cabinet nod for UCO Bank capital rejig
New Delhi, Oct. 31 The Union Cabinet has approved the capital-restructuring plan of UCO Bank by converting Rs 250 crore equity into preference shares. “The reduction in the pure equity capital will improve the earning per share and ...

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Markets (Oct 31)

Nifty (at close)	2885.60(+188.55)
US Dollar (Buy/Sell)	49.49/50
Brent crude (a bbl) Rs	3,041
Gold (a gram) Rs	1,099
Silver (a kg) Rs	16,420

In Focus
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Looking back
Oct. 19-Oct. 25
Foreign borrowing norms for cos eased