The Hindu Business Line : Friday, April 25, 2003

RBI allows hedging interest rate risks
THE Reserve Bank of India has allowed commercial banks, primary dealers and all India financial institutions to trade in interest rate derivatives in a phased manner. The Securities and Exchange Board of India has already given its go ahead to ... More

Hiking FDI cap: Why the Cabinet fought shy
IT was perhaps the fear of the forthcoming elections and the fall-out on the ruling party that forced the Union Cabinet to defer a decision on increasing the FDI caps in various sectors, including telecom and domestic civil aviation. While ... More

Wipro to buy US consulting firm for $18.7 m
WIPRO Ltd has signed a pact to acquire US business and IT consulting firm NerveWire Inc for $18.7 million in all cash deal. Wipro expects the transaction to be completed in the quarter ending June 2003, subject to regulatory approvals. ... More

Satyam revenue up 14.7 pc; earnings flat — Writes off Rs 152-cr investment
SATYAM Computer Services Ltd has recorded revenues of Rs538.4 crore from software services for the fourth quarter ended March 31, 2003. It posted a net profit of Rs 115.79 crore against Rs 115.15 crore in the corresponding period of the previous ... More

Sabre will retain Centurion name & staff
SABRE Capital Group, which is taking over the management of Centurion Bank, has no plans to retrench any staff. On the other hand, the bank will be recruiting more people. The name of the bank will be retained. Mr Rajiv Maliwal, Managing ... More

Govt pens SARS prescription
DESPITE no new reports of Severe Acute Respiratory Syndrome (SARS) in the country over the last two days — significant decisions were taken today by the Government in an effort to both prevent the entry of SARS into India and control its ... More

Grasim sets May 7 for L&T open offer
GRASIM Industries has announced May 7, as the date of its open offer for 20 per cent stake in Larsen & Toubro. The offer will open six months after its originally scheduled date of December 9, 2002. Grasim on Thursday issued an announcement to ... More

4 pc VAT rate: Will it mean cheaper drugs?
IF anyone, it is the consumers who should be heaving a sigh of relief on the decision to impose a four per cent VAT on all medicines. Its earlier suggestion of 12.5 per cent had raised the hackles of the pharma industry — though it would ... More

Lack of pilots forces AI to cancel Muscat flight
AIR-INDIA on Thursday cancelled a scheduled flight on the Mumbai-Thiruvananthapuram-Muscat sector, as there were no pilots to operate the flight. According to an airline spokesperson, the flight was cancelled due the non-availability of ... More

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