COMPANIES

• Reliance to invest $5b in telecom
• Reliance bags 18 LOIs for telephony
• Bayer ABS MD found guilty of insider trading
• Fitch India to become wholly owned subsidiary of parent company
• Nortel to lay off 10,000 personnel
• GE, Honeywell refuse to meet EU conditions for merger
• BPL net drops 24 percent in fiscal 2001
• Oracle slashes prices
• Tata Infotech steps up hiring drive
• Dell launches Dell International Services
• DTH hype may fizzle as top players lose interest
• VSNL to expand facilities, plans to set up international data centre
• Interactive website from DOD
• Indian Oil net rises 11 percent
• BAT says it may not need NOC from ITC

GENERAL

• Cellular subscriber rises 4.5 percent in May

CAPITAL MARKET

• As bull liquidate positions, Sensex crashes 81 points
• Wall Street; Bad news stirs hopes of rate hike