While the US Congress debates a temporary waiver of sanctions imposed on India and Pakistan, the Clinton administration is preparing a long list of companies and Government institutions in India and Pakistan that Americans would be barred from doing business with, if the sanctions stay in place, says The New York Times. The daily quotes experts saying that the list, required under an amendment punishing nations that test to develop nuclear weapons, is due to come out soon and could not come at a worse time for the two countries..

HAL all set to bag lA’s 50-seater order

Hindustan Aeronautics Ltd (HAL), which along with Aero Transport Regional of France, has bid for Indian Airlines' requirement of six 50-seater aircraft, is now almost certain of bagging the order. Reliable sources told BusinessLine that it had heard from civil aviation circles that the deal was almost through. HAL-ATR, which had already been categorised in LI status, has now been called to provide clarifications next week on product support and mechanics of product back-up from ATR to HAL.

Norms for NRI investments relaxed

The Reserve Bank of India has announced further relaxation in the procedure related to investments in Indian companies by non-resident Indians (NRIs)/overseas corporate bodies (OCBs). In a press release, the RBI said Indian companies will no longer require its permission to receive remittances from NRIs/OCBs and issue shares under the 24 per cent and 40 per cent schemes. However, these companies will have to file the required documents with the regional office concerned of the RBI within 30 days after the issue of shares to NRIs/OCBs, the release added.

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