Highlights

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COMPANIES

• UB in contract manufacturing alliance with Balaji Breweries
• EoIs invited for Central Inland Water Transport Selloff
• Stewarts & Lloyds to acquire Tata Korf Engg supply furnace division
• Sebi may move SC against SAT order on Colour Chem
• Ind-Swift gets nod for anti-infective
• 3M to acquire rest 49 per cent in Pouyet
• Zee Tele may not get $40 mn from CSFB
• Coca-Cola places 49 per cent stake with Indians
• FDI has to cross security barriers
• Tata Engg debt issues upgraded
• Kinetic's Aquila logs 50 bookings
• Kopran gets nod for ibuprofen tablets in S. Africa
• DSCL stake in Shriram Bioseeds increases to 51 per cent
• GDR Media board okays swap deal
• BSES mortgage resolution passed
• HPCL board okays ONGC's takeover of MRPL
• FACT council plans picketing
• Playwin targets Rs 2,500 cr
  

INTERNATIONAL BUSINESS

• Lucent settles SEC accounting probe
• China achieves breakthrough in producing first DSP chip
  

GENERAL

• Industry welcomes Economic Survey
• Namibia open to granting tax holidays to Indian companies
  

BANKING AND FINANCE

• Hudco doubles sanctions to infrastructure projects
• Lack of demand forces TIIC to scrap two finance schemes
• SBI buys over 1 per cent equity stake in DFHI from IDBI
• ICICI Bank term deposits get highest safety rating
• Japan Banks’funding drive strains family ties
• Punjab National Bank to reduce net NPAs to 5 per cent by 2005
• Norms tightened for inter-branch reconciliation
• UBI plans offices in 3 Gulf nations
• Corpn Bank cuts FCNR (B) rates for select periods
• SBI bets Rs 1,000 cr on venture with Maruti

CAPITAL MARKET

• US-64 shortfall at Rs 5,522 cr
• Sales target drives up Tata Engg
• New drug policy hopes lift Glaxo
• Infotech stocks rebound
• Rupee stable; gilts down