Saturday, November 7, 1998
Trade deficit spurts on back of dip in exports
Export growth during the first half of the current fiscal fell by 3.28% over the corresponding period last year. Compounded with rising imports, which was up by 10.06% during April-September 1998, the trade deficit swelled to about $5 billion,compared with $2.5 billion in the corresponding period of the last year. According to data issued by the commerce ministry on Friday, exports in September fell by 4.89% over the previous month.
Banks, FIs may bid below reserve price for Concor shares
The pricing of the Concor issue will be decided on November 16, while the allocation will take place the same day. However, banks and financial institutions are likely to bid for the issue at Rs 200-230 levels, well below the reserve price of Rs 250 the Centre has fixed.
Coal India unveils golden handshake for its executives
Coal India has notified a voluntary retirement scheme (VRS) for its 20,000-odd executives, its first for this cadre. The scheme, notified on Thursday, is open to wholetime executives other than personnel in the medical wing, which is facing a shortage of manpower.
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