bank credit up
mumbai: bank credit during the fortnight ended 22 october expanded by rs 3,361 crore, taking the outstanding figure to rs 3,91,636 crore.

the year-on-year growth in bank credit, however, slipped marginally to 15.4 per cent from 15.6 per cent in the previous fortnight. the report said the incremental growth in non-food credit to the commercial sector in 1999-2000 is almost double the incremental growth in the corresponding period last year. at rs 3,70,232 crore (outstanding), the incremental growth in non-food credit is rs 18,111 crore compared to a growth of rs 9,498 crore in the previous comparable period.

the foreign exchange reserves, including gold and special drawing rights, rose $237 million during the week ended 29 october, to take the total to $33.3 billion.

pfizer inc. bids for warner lambert
new york : close on the heels of the announcement of warner lambert's merger with american home products two days ago comes pfizer inc.'s surprise takeover bid for warner lambert for $79.7 billion. stopping short of explicitly rejecting pfizer's offer, warner lambert has said in a statement that the ahp deal remains in the best interests of its shareholders.