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SEBI may allow co.s to buy back own shares
The Securities and Exchange Board of India is in favour of allowing companies to buy back their own shares from the market. In fact, SEBI is likely to introduce this provision under its model takeover code. Indian companies have been demanding that they be allowed to buy back their own shares, as is done in the US, Canada, France, the Netherlands, etc. The SEBI chairman, Mr. S. S. Nadkarni, conveyed to the Federation of Indian Chambers of Commerce and Industry (FICCI) in a closed door meeting in Bombay this week that the board was sympathetic to the industry's demand.
Pact to set up Asia, Pacific tech transfer centre
The host country agreement between the United Nations and the Government of India governing the operations of the permanent headquarters of the Asia Pacific Centre for Transfer of Technology (APCTT) at New Delhi was signed here on Thursday. The agreement was signed by the Commerce Minister, Mr. Pranab Mukherjee, on behalf of India, which is hosting the ongoing 50th session of the Escap, and Mr. Rafeeuddin Ahmed, executive secretary, Escap, on behalf of Escap... Mukherjee emphasised the importance of advance science-based technologies and upgraded traditional technologies to the Third World.
US firm on labour standards debate
The US is determined to push for the inclusion of a discussion on labour standards on the agenda at the Marrakesh meeting where 122 countries are expected to sign the international trade agreements, the product of seven years of negotiations called the Uruguay Round, a senior US trade official has said.
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