|
Internet users in Asia to grow 40 per cent
New Delhi: A Goldman Sachs Investment report
says the number of internet users in Asia will grow at a compounded annual rate of 40 per
cent in the next five years and reach 64 million in 2003. This is twice the growth rate projected for the US during the same
period.
The report also says that the internet
business will generate about $32 billion in e-commerce sales in the continent besides
turning internet advertising into a $1.5 billion industry by 2001.
Back to News Review
index page
Government increases ECGC
capital
Mumbai: The government has increased the
paid up capital of Export Credit Guarantee Corporation to Rs 290 crore. The capital is
expected to go up to Rs 500 crore through future infusions.
Union commerce secretary P.P. Prabhu presented a cheque of
Rs 55 crore to B.B. Sharma, chairman of ECGC in Mumbai.
ECGC has earned a net profit of Rs 23.13 crore in the
current year, and this has helped reduce the carry-forward deficit incurred on account of
losses in Iraq. The company expects to wipe out the deficit in the current financial year.
Back to News Review
index page
Dundee MF to launch gold
fund
New Delhi: Dundee Mutual fund will be
launching its first private sector gold fund by September this year.
Dundee has sought a clarification from the Reserve Bank of
India before launching this fund.
The Canadian major has proposed that the rate of long term
capital gains tax be streamlined to 10 per cent for all securities, including mutual fund
units. Dundee has also asked RBI to permit new NBFCs, which either have been formed in the
last two years or have not yet completed two years of operations to raise public deposits
so as to put them at par with existing NBFCs.
Back to News Review
index page
MTNL to receive bill payment
online
New Delhi: Mahanagar Telephone Nigam will
launch an online payment and bill presentation system from 15 August.
MTNL is also planning to set up shopping malls on the
internet and an online telephone registration system from Independence Day 1999.
Back to News Review
index page
|
