Highlights

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COMPANIES

• Indo Gulf, Deepak Fertilisers in race to acquire majority stake in FACT
• Tata Steel may have to compensate ICCL for breaching supply contract
• Bajaj Auto plans three scooters in 2004-05
• P&G Co’s move to buy Wella unlikely to have impact on Indian arm
• Maruti plans to launch Omni Cargo soon
• BASF plans to acquire assets of Fipronil biz
• Standing out in concrete
• Keltron develops high capacity UPS for NPCIL
  

INTERNATIONAL BUSINESS

• US fund takes WorldCom, Citi to court
• BA, KLM officials play down merger talks
• Fiat agrees to sell Toro to De Agostini
• Test developed to diagnose mystery illness
• Fed may spring either way

GENERAL

• VAT a dilemma! parties unanimous in ambivalence
• Plan panel asks NSSO to change mode of its surveys
• Ascon survey finds strong growth in industrial output
• Traders-FM meet on VAT today

BANKING AND FINANCE

• Dakshina Kannada banks register Rs 7,238-cr business
• Panel for immediate freeing of own-damage segment — Motor insurance tariffs in for changes
• Royal Sundaram opens new branch
• Syndicate Bank projects credit outlay of Rs 951 cr
• Lok Adalats to deal with Andhra Bank NPAs

CAPITAL MARKET

• Mandatory listing norm at regional exchanges to stay
• Blue Star: Stake sale to cool
• War signals to fuel direction