The South Korea-based Daewoo Group, majority partners in the DCM-Daewoo joint venture for Cielo passenger cars, has picked up India for investments worth $5 billions (over Rs. 15,000 crores) in the next few years. The sectors identified for investment, apart from passenger cars, are commercial banking, real estate and construction, shipbuilding and electronics. Unfolding his India plans as a part of the global investment strategy, the Daewoo Group Chairman, Mr. Kim Woo Choong, told newspersons plans had been drawn up to lead a Korean bank consortium for setting up commercial banks in India, possibly at Bombay.

Indiscriminate chlorine use the culprit

‘Poor water management’, ‘bad pond bottom quality’, ‘improper culture practices’... To these phrases fast becoming cliches in the aquaculture industry, one more has been added: ‘indiscriminate use of chemicals’. The problem goes back to the first wave of a disease (it was never conclusively identified) last December that devastated the industry and which brought in its wake quacks offering the desperate shrimp farmers various chemical solutions, from the ineffective to the downright poisonous.

BSE rejects new carry forward system

The members of the Bombay Stock Exchange (BSE), at a meeting held here on Saturday, formally rejected the revised carry forward system proposed by SEBI. Most of the brokers were not interested in discussing the issue and stayed away from the meeting. The BSE governing board will also formally discuss the issue on Monday. Meanwhile, the members of the Share Bazaar Staff Union have decided to strike work on Monday and they will be taking out a motcha from the stock exchange to Sachivalaya.

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