The Financial Express -- News

Sunday, May 11 1997

Powergrid to invite global bids for MVAR capacitors The Powergrid Corporation has plans to invite international competitive bidding (ICB) for the procurement of 10,000 MVAR capacitors to execute its system improvement schemes in state electricity board networks. The Powergrid has tied-up a long maturity multi-lateral loan of $100 million from the World bank to fund this project.		Infrastructure Bond Issue
Draft Broadcast Bill favours cross-media ownership, DTH The current changes accommodated in the Draft Broadcast bill seem to live upto the Union Information and Broadcasting Minister Jaipal Reddy's assurance of lessening bureaucratic control on the media. The Draft Broadcast Bill favours newspaper houses to have an equity stake of upto 24% in more than one electronic media venture. The Bill also favours withdrawal of territorial restrictions for direct-to-home (DTH) service providers.	Hongkong Bank, HSBC Cap steam up to tap synergies Hongkong Bank and the newly floated HSBC Capital Markets India Private Ltd seek to synergise their activities to propel the growth of HSBC group. The group has decided to adopt an "aggressive" posture in India. A step in the direction has been taken with the induction of two Hongkong Bank representatives on the nine-member board of the investment banking firm in India.

Powergrid to invite global bids for MVAR capacitors