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Talks with ADB, World Bank for $2-bn loan soon
New Delhi: Part of the funds could be used for setting up safety systems
for the railways besides projects in other sectors. Both World Bank and ADB
have been sounded out for funding infrastructure projects.
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Overseas
bidders for SCI stake told to float SPV
New Delhi: Foreign bidders seeking to buy a controlling stake of 51 per
cent in Shipping Corporation of India will have to float a special purpose
vehicle incorporated in India which should be owned and majority-controlled by
Indians.
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Fiscal
sops if crude prices top $24 a barrel
New Delhi: The finance ministry has agreed to intervene in the oil
sector with fiscal measures such as excise duty cuts on petroleum products if
the international crude price crosses $24 per barrel.
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Govt
plans to trimming cost at major ports
New Delhi: A major cost reduction exercise has been initiated in all the
12 major ports in India. The exercise would involve active participation from
the port users and the chambers of commerce and industry.
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Govt plans
to raise telecom FDI cap
New Delhi: The government is once again weighing the option of hiking
the foreign direct investment cap on the telecom sector to 74 per cent from the
existing 49 per cent. A note for the GoM on FDI, headed by Finance Minister
Yashwant Sinha, is expected to be moved by the industry ministry, top
government officials said.
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Govt formulates
panel for underestimated FDI flows
New Delhi: Waking up to the fact that the method of measuring foreign
direct investment in India excluded a number of inputs prescribed in the IMF
standards and thus resulted in an underestimation of FDI inflows, the industry
ministry has constituted a committee together with the RBI to examine ways in
which the coverage could be improved.
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Ficci
study says investment climate has improved
New Delhi: Total investment
volume of the top 30 Indian companies that constitute the 30-share BSE
Sensitive Index has gone up by 32.44 per cent in 2001 compared to 2000,
according to a survey conducted by the Federation of Indian Chambers of
Commerce.
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Foreign
banks in India have more options
New Delhi: The options for foreign banks in India have increased. They
have much more flexibility vis--vis the nature of their operations in India.
Banks will take a choice on what option they would follow depending on their
strategies and the way they operate in other markets.
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