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Overseas proceeds for
PSU acquisitions soon
New Delhi:
Indian companies will be permitted to utilise the proceeds of ECBs, GDRs and
ADRs for funding acquisition of shares disinvested by the government in a
state-owned company.
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Inland
waters to see flow of private funds
New Delhi:
The Inland Waterways Authority of India has worked out a model agreement for
inviting private sector participation in making river waters, especially those
constituting the three national waterways, a more developed mode of
transportation.
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GoM to discuss
IRDAs pension recommendations
New Delhi:
The next meeting of the group of ministers on pension reforms for the
unorganised sector will discuss the shortcomings in the recommendations of the
IRDA, which had given a detailed presentation of its proposals for a suitable
scheme for the sector in the first meeting in April 2002.
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CII supports
status shift of services
New Delhi:
Services sector should be brought under the ambit of Companies (Amendment)
Bill, says the Confederation of Indian Industry.
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Interest
cut may benefit defaulting EOUs, SEZs
New Delhi:
In a move that has come as a major relief to export-oriented units and units
located in special economic zones, the revenue department has reduced the penal
interest levied on defaulting exporters.
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Oversupply
affects commercial property market
New Delhi:
The continuing economic downturn has knocked the bottom off the commercial
property market. Corporates have as a rule abandoned purchase of property in
preference to lease deals.
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Hospitality
industry hits rock bottom
New Delhi:
The hospitality sector has hit rock bottom in financial year 2001-02. Its
performance in FY-02 has been the worst ever in terms of margins and profits in
the last 10 years.
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Housing
sector poised for growth: Citigroup exec
Mumbai: According
to Chris Lively, portfolio manager, responsible for investment in India at
US-based Citigroup Asset Management, India is a market that no emerging markets
portfolio manager can ignore, especially in the housing sector.
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Mandatory
registration for coil imports may go
New Delhi:
Exporters of hot-rolled coils into India may soon be spared of the mandatory
requirement of registering with Bureau of Indian Standards.
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Growth hits
11-quarter high
New Delhi:
The last quarter of the previous fiscal has seen a smart pickup in growth
performance. At 6.4 per cent, the GDP growth in Q4 (January-March) of 2001-02
was the highest quarterly growth in nearly three years.
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Rajasthan
told to subsidise power firms
New Delhi:
A high-level meeting on power sector reforms has asked the Rajasthan government
to fulfil its commitment to the regulatory commission on subsidising the
deficit of three distribution companies in the state.
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