Highlights

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COMPANIES

• Electrosteel in talks with UK company
• Starline to hold travel mart
• MK Electric to be Novar's global manufacturing hub
• Award for Pepsi's Madurai plant
• Raymond buys Rs 35-cr equity in Colorplus
• ONGC irons out crude supply pact with HPCL
• Honda lines up 4-stroke 150cc scooter
• Cadbury Chocki Going Global
• CSIR in pact with Indigene Pharma
• Biocon in tie-up for oral insulin
• BIFR door shut for Mardia Chem
• BIFR confirms winding up of HPF - Says Govt `buying time'
• IOC aims at 30% share in Lanka
  

INTERNATIONAL BUSINESS

• Corporate security: Microsoft developing new software
• GE to revamp pay structure of top brass
• US junk bond defaults hit a record 16% in '02
• Merrill, SEC agree on Enron settlement
• China shuts down 45% internet cafes after safety inspections
  

GENERAL

• Govt plans to ease FDI norms for housing
• No large-scale delisting by foreign cos: Jaswant
• Telecom meet makes `some' headway
• US to tighten H1B visa norms
• GoM Meet Postponed
  

BANKING AND FINANCE

• SBI cuts home loan rates for old clients to 9%
• ADB To Fund $1.3 M For AP Watershed Phase II Project
• MFs, NBFCs, HFCs can enter in gilt repo trade
• Pension scheme from SBI Life
• HDFC Standard hopes to treble premium income
• ICICI-Pru inks MoU with JLI Insurance
• IRDA grants broking licence to 6 more cos
• Medicine Shoppe ties up with Bajaj Allianz
• IDBI Bank To Offer Extra On Home Loans

CAPITAL MARKET

• Dow closes 103 points up
• SAT relief to Clariant on Colour-Chem open offfer
• Momentum buying in Oriental Bank
• Institutional support lifts Reliance
  

PEOPLE

• Warne suspended from cricket for a year