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November 23, 1999

Venture capital will mould IT industry in India, agree experts
There are only 500 IT companies doing $ 3 billion business. To achieve the target of $ 100 billion in the upcoming decade, a few thousand more companies are necessary, speakers said at a seminar.

'Swadeshi' leader calls for cautious approach to Seattle
If the developed world's proposals are accepted, no Indian car manufacturer would survive in the new regime, said S Gurumurthy, convenor, Swadeshi Jagran Manch.

Canara Bank launches services in Bombay for NRIs
The Canbank NRI Mail Desk and Canbank Online Info Services will seek to make a host of bank transactions convenient.

Don't ban cigarettes, spread health awareness, says tobacco body
Developed countries have not been successful in curbing smoking. Measures to stop smoking in public places will boomerang on India. Three million people are dependent on the industry, the Indian Tobacco Association said.


BSE, NSE and Forex: Sensex up 52points to 4633; Nifty up 11 at 1375; rupee steady at 43.37 to US $

November 20-22, 1999

Quality Shoppers
New-age consumers make South India the next big emerging market.

PM assures speedier, comprehensive reforms
"The more we can show that reforms benefit everybody and that they can contribute to the nation's healthy development, the more mass support can be generated for their speedier implementation," Vajpayee said.

Mid-year review: Lower interest rate regime essential, says Manmohan Singh
The former finance minister also assailed the government's tendency to use surplus funds of PSUs like NTPC for funding the budget.

SBI to raise over Rs 35 bn from market in 2000
Subject to the RBI approval, the public issue will bring the government holding to as low as 40 per cent and make the SBI a full-fledged private sector bank. SBI raises FCNR (B) interest rates by 0.25 pc

Food brigade urges govt to defend India's agri interests at Seattle
Opening up of the farm sector could hit millions of small farmers as well as the country's food security, some experts said.

NTPC-NHPC deal not intended to bridge fiscal deficit, says power minister
Proceeds of Rs 45 billion from divestment of government stake in NHPC would go into the Consolidated Fund of India, Kumaramangalam said.


BSE, NSE and Forex:Sensex down 25 points to 4581; Nifty steady at 1364; rupee up one paisa at 43.37 to US $

November 19, 1999

Kerala Fly
Ayurvedic aphrodisiacs thrive in God's Own Country.

Diesel price decision within 15 days, says Ram Naik
'The diesel prices might go up or remain stable depending upon the price fluctuations in international market,' the petroleum minister said.

India's music to be 'Universalised'
Universal Music India will invest Rs 4 billion, partly on building local content, the rest on making Indian music and artistes globally popular. The music major will also organise tours of international stars to India.

Exports of basmati rice likely to rise
A bumper crop is expected this year. India continues to be the leading exporter in spite of Pakistan's rice prices being lower.

FM says Orissa is govt's 'top priority'
Yashwant Sinha said a nodal agency would be set up to coordinate various projects for child welfare to avoid overlapping of work and save money.


Demat matters
Why should you get your shares dematerialised? And how should you pick up a good depository? Some tips.

How to invest wisely
Professional fund managers have a simple rule. Subtract your age from 100. Put the balance into equity-related investments. And the rest in income-related products, writes Murali Iyer.


BSE, NSE and Forex:Sensex up 66 points to 4606; Nifty up seven points to 1364; rupee up one paisa at 43.38 to US $

November 18, 1999

Box-office Blues
Bollywood profits plateau as Hollywood films make money.

Sinha defends GAIL divestment
"There is no question of giving Enron and British Gas any seat on the board of GAIL. The government of India still holds 67 per cent stake in the company," the finance minister said.

Moody's upgrades India's currency debt ratings
The opening of the insurance sector to foreign investors and a more aggressive divestment agenda could strengthen foreign investment flows, a Moody's report said.

Kerala team to tour Gulf to attract NRI investments
The NRIs have about Rs 240 billion in commercial banks as deposits. The delegation has a number of 'walk-in-and-manufacture' industrial parks to offer to NRIs.

Goa pleads HC to lift ban on power supply to new industries
Some 2,328 establishments still await power connections. The total demand is for over 51 mega-watts.

The last word
ZeeNEXT hopes to have the final say in the battle of the portals.

GAIL pricks the divestment bubble
'The tragedy is that a better price could have been obtained by simply using normal means to access the domestic market. It looks like simple incompetence,' says Devangshu Datta.

Sector Funds: Do they offer better performance?
A close look at the popular sector funds reveals a different picture than what is perceived by investors, says Dhirendra Kumar.


BSE, NSE and Forex:Sensex down 39 points to 4540; Nifty down 1 point to 1357; rupee up 3 paise at 43.39 to US $

November 16-17, 1999

Economy is looking up but only just: RBI governor
"Many indicators look good. This is only a window and windows can close, so let's put our house in order. Unless the political system is effective, I do not know whether signing MoU with the states will succeed,'' Bimal Jalan said.

Bhopal victims sue Union Carbide in US
The suit, filed in Manhattan federal court yesterday, pleads the court to take back control of litigation (filed by the Indian government) which was shifted to India in 1986 for jurisdictional reasons.

Nationalised banks' 98-99 operating profits rise 7 pc to Rs 59.29 bn
The aggregate financial assets of financial institutions and banks registered a lower growth of 12.2 per cent during 1998-99 as compared to 16.9 per cent in 97-98.

Dismantle trade barriers in agriculture, industrial products, services: CHOGM
Although the leaders remained engaged for three days on the Pakistan issue, the thrust of the Commonwealth summit was on globalisation and its impact on the Third World.

New port in Kerala may affect tourism, fear experts
Once a major port comes up close to Kovalam beach, the foreign tourists would be reluctant to visit the state, locals said.

Bureaucrats' meddling scuttles govt's divestment plans
"GAIL shares were indeed sold at a ridiculously low price. It seems fairly clear that the timing of the issue was dictated by the government's hurry to complete the divestment rather than worry about the price," says Sucheta Dalal.

Labour unions support govt's WTO stance in run-up to Seattle
Any linkage of labour standards with trade should be firmly opposed as it could be used as a protectionist device. Non-trade issues should not be included in the agenda, the unions told Industry Minister Murasoli Maran.

Maruti's Euro-fit Omni resurfaces in Delhi
The eco-friendly Omni's price in the National Capital Region would be Rs 7,000 more than the one without the Euro II tag.

PM constitutes taskforce on knowledge-based industries
The taskforce is expected to make its recommendations within a period of three months on how to make the industries world leaders.

Mecklai in tie-up with ED & F Man for commodity services
The agreement will provide Indian corporate clients access to international futures exchanges to hedge commodity price risk.


BSE, NSE and Forex:Sensex down 43 points to 4586; Nifty down 14 points to 1363; rupee steady at 43.39 to US $

November 1-15, 1999

October 16-31, 1999