Monday, May 24, 1999
Moody's sees current account deficit worsening to 3.5-4 per cent this year
Global rating agency Moody's has warned that India's current account deficit will deteriorate sharply to 3.5-4% of gross domestic product (GDP) in 1999-2000. The pre-budget economic survey had estimated the 1998-99 current account deficit to be below the previous year's level of 1.6%, probably at around 1.4%.
DoT jams Koshika, Aircell, JT Mobiles networks
In a telling blow to three cellular licence fee defaulters, the Department of Telecom (DoT) has jammed the networks of Koshika Telecom in UP, Bihar and Orissa, Aircell Digilink in UP (east), Rajasthan and Haryana and JT Mobiles in Punjab.
Bayer puts UTI's board nominee plea on hold
German chemicals and healthcare giant Bayer has "put on hold" the request made by the Unit Trust of India (UTI) to put its nominee on the board of the multinational's 51% Indian subsidiary. UTI holds approximately 8% of Bayer India's equity capital.
|
|
