COMPANIES

• Tata group exits Goodlass Nerolac
• Reliance into IT
• Corporate governance through bourses
• Royal Holdings finalising ModiLuft buyout
• Indian Airlines ends fare discounts
• Global venture funds invest in ZipFone
• Elbee-UPS JV on hold
• GE sets up design centre
• VSNL, MTNL sign MoU for joint initiatives
• Toyota vehicles to be available off-the-shelf
• Aurobindo plans brand acquisition
• Sovika Infotek to sell Mehta CRM solutions
• Compaq launches commercial PC
• Amazon offers shops for small sellers
• ICI selling acrylics unit
• AT&T selling ExciteAtHome?
• Grupo Mexico says offer to Asarco is final
• Volvo to snap Mitsubishi link

GENERAL

• GDP growth at 5.5%, balance of payments surplus
• SBI slashes forex brokerage rates
• VSNL projects 20% fall in rates
• ICICI asks IDFC for dividend
• Steel prices go up
• IDBI, Principal Group set to decide on shareholder agreement

CAPITAL MARKET

• Markets close lower
• Hughes in a pathbreaking move
• PNB Mutual to start stock-lending
• Sony cannot come out with IPO: Sebi
• Centurion Bank issue may be oversubscribed
• Toyota lists on New York, London bourses

PEOPLE

• Syamal Gupta is Tata International chairman
• Avtar Saini to head Intel South Asia
• Goutam Rakshit is ABC chairman
• Ananda Kumar to head Ambi
• Madhavji is chief of travel agents association
• 3 American Indian billionaires