Highlights

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COMPANIES

• XCyton, Glaxo SmithKline in tie-up for marketing kits
• Govt may cut stakes in HPCL, BPCL to 15 per cent, 26 per cent
• Reliance Info revises rates
• LG aims market leadership in commercial AC mart by ’04
• Godrej tea launches two Flagship brands in Mumbai
• Mahajan to launch Reliance’s basic telecom services
• TNT India launches service for students
• Bend-Pak of US to pick up 60% stake in Pneumatic Power Tools
• Pantaloon plans to make pref allotment
• Polaris will do no business with Indonesia for 1yr
• JK Tyre refuses to recall controversial ad
• Air Sahara writes new rules of marketing
• Hasbro wants to extend reach via own outlets
• Skoda to push small cars via fin schemes
• Indian Terrain plans city trip via franchisees
• Ranbaxy gets FDA nod for Isotretinoin
• Birla 3M has a new name
• Mukand to stop taking fresh orders
• Saptarishi Agro set to change hands again
• Coastal Paper hit by strike
• Milma, NDDB arm sign marketing pact

INTERNATIONAL BUSINESS

• United begins to trim wage bill, benefits
• GE Cap bids for Softbank's stake in Japanese bank
• DoCoMo, AT&T to launch 3G service in US
• Ribapharm-ICN battle grows acriminious
• GM launches Buick Regal in China
• Enron inquiry broadened, report says

GENERAL

• Dumping duty on Chinese silk
• Import of ‘sensitive’ items up 17 per cent in Apr-Oct
• Rubber Ind for cut In import Duty on raw Materials
• Panel to resolve row over Brussels’ discriminatory GSP

BANKING AND FINANCE

• Bank Economists’ meeting opens in Bangalore today
• United Western to approve new board at AGM on Dec 28
• PNB Gilts gets licence for merchant banking
• Citicorp Fin issue gets `AAA(SO)'
• Highest safety rating for Exim Bank bonds
• UTI Bank opens currency chest in Hyderabad
• G-secs on stock retail mode
• RBI lowers daily CRR level for banks to 70 pc
• Corpn Bank plans to recover Rs 100 cr from defaulters

CAPITAL MARKET

• Re steady; bond yields fall
• Financial planner examination to be online
• Dow Jones down 15 points at close
• Reliance lifts Sensex to seven-month high
• Block deals in Hindalco
• Fund managers fancied ACC, M&M, Wipro in Nov
• Hexaware up 15 pc on US order talk
• Fund buying lifts CMC
• Mastek at 52-week high