Thursday, September 3, 1998
Mandela against uncritical acceptance of markets, economic orthodoxy
The 12th summit of the Non-Aligned Movement (NAM) took off on Wednesday with president Nelson Mandela of host South Africa delivering a clarion call for remaking "our common world anew". Mandela called into question some of the fundamental assumptions of the new global orthodoxy that holds that all countries must uniformly address "such questions as budget deficits, rates of inflation, interest and exchange rates, capital movements, the flexibility of labour markets, and affordability of social welfare and so on."
Banks taps agencies in bid to recover dues
Taking a leaf out of foreign banks' books, some public-sector banks have started hiring private agencies and detectives to recover their sticky assets. One bank has gone one step ahead and decided to put up notices in newspapers soliciting information from the public about its errant clients.
Orissa seeks private partners for power distribution network
The Orissa government plans to select private partners for the power distribution network in the state by the year-end. Distribution companies, short-listed during the pre-qualification bids, were called to inspect the distribution zones and examine the structure and asset value of the newly formed companies for which the joint venture partners are being sought.
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