• Reliance eyeing BP's olefin and derivatives business
• Service tax from telephony set to reap Rs12,650 crore as revenue by 2007-08
• ONGC to deliver deepwater gas by April 2006
• GAIL-Gazprom consortium to start drilling in Bengal basin by Oct.
• HAL may link up with Sukhoi for production of passenger jet
• DoT panel may put Rs.500 crore entry tag on 3G spectrum
• TCS to initiate pilot project for efficiencies in rural employment scheme
• Tata Tele-Services to launch international roaming along with a new tariff plan

GENERAL

• PM says Kabul a bridge to entire region
• India expresses interest in Angolan diamond and oil industry
• Jayalalitha asks Centre to scrap tax exemptions extended to few States
• Railways to increase focus on jatropha plantation

• FM suggests consolidation of State-owned banks as means to raising capital base
• Bahrain Financing Company and ICICI Bank tie up for electronic fund transfers
• J & K Bank Q1 net up 2.3 per cent
• Andhra Bank to expand operations abroad

MARKETS

• Revised IPO norms: TCS to seek Sebi exemption on dilution of shareholding

• Experts warn debt may threaten US economy
• EU trade chief urges release of Chinese garments from customs