Market Roundup

• VSNL to acquire Teleglobe for US$239mn
• New car from Ford to premiere in India
• NELP V: ONGC bags eight oil and gas blocks
• BHEL bags US$100mn Indonesian contract
• AMIS sets up design centre at Bangalore
• Tata Chemicals launches 'Tata Kisan Sansar' in WB and Jharkhand
• Tata's Hispano subsidiary to supply 800 buses to Morocco
• UGS and Tata Consultancy Services deliver Teamcenter-FDA Accelerator
• Tata Coffee to spread business activities
• Idea Cellular provides e-mail service on handsets
• Corporate results: Maruti, Tata Tea, UltraTech, Eveready, Reliance Capital, Cipla, MTNL, Helios & Matheson, TVS-Electronics, VisualSoft , India Cements

GENERAL

• Govt. unshackles PSUs further - greater investing and administrative autonomy
• Govt. to provide fresh funds support for infrastructure projects
• CCW approves revised offer on services at WTO
• CCEA clears integrated textile park scheme

• Rupee weakens - securities down
• RBI quarterly economic review: Upbeat on growth
• Finance Ministry: No tax on inter-bank transactions
• SBI eyes four foreign banks for acquisition
• Exim Bank to pick up 2.5 per cent stake in Bombay Rayon
• Banking results: Bank of Rajasthan, Union Bank, Vijaya Bank
  

MARKETS

• American labour movement splits down the middle
• Intel to build $4 billion factory in Israel

• PR Chandrashekar is Wipro's US and Europe sales head
• DVS Raju is now chief mentor of VisualSoft