Highlights

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COMPANIES

• Customs duty on cellphones may stay
• Daksh may buy BPO firm in Philippines
• Sebi may clear Birlas' L&T offer soon
• Toubro plans Rs 600-cr poultry project in WB
• Show-cause notices to 18 MNCs for Fera violation
• Tatas to buy power arm's broadband division
• Two-wheeler cos fetch a premium in '02-03
• Raymond stitches denim strategy for international, local markets
• Maersk’s new direct route may not ease Far East rates
• Zero B claims EU standards
• Air-India kicks off VRS today
• Small shareholders on company boards may be mandatory
• Surya Herbal plans foray into southern, western markets
• Canon eyes Rs 500-cr turnover
  

INTERNATIONAL BUSINESS

• Iraq war to push up oil prices above $40, says Chinese expert
• MNC brass see no shine in '03
• Intel likely to invest in Hitachi-NEC JV
  

GENERAL

• 10 per cent cut on crude palm oil likely
• Ficci team to accompany PM to NAM meet
  

BANKING AND FINANCE

• Nidhis want to be covered under Securitisation Act
• IDBI Bank eyes housing portfolio
• TU urges recap funds for primary co-op banks
• RBI asks states to augment revenues

CAPITAL MARKET

• Use book-building route to delist, Sebi tells cos
• Inflation rate vaults to 5 per cent
• Delay in guidelines to avoid `conflict of interest' - UTI, sponsors mutual investments at standstill
• HDFC Bank, ICICI Bank maintain upward trend
• T+2 cycle: Fine-tune mechanism, say brokers
• Divi's Laboratories IPO oversubscribed by 19.5 times
• ICSI to set up `investor clinics'