US removes two Indian entities from black list
The US administration has removed the Nuclear Science Centre and the Uranium Recovery Plant from the entities list, but added Indian Space Research Organisation Telemetry, Tracking and Command Network to the list. While the Nuclear Science Centre is located in New Delhi, the Uranium Recovery Plant is based in Cochin. The announcement was made by the US Commerce Department's Bureau of Export Administration.Indian Airlines announces fare cut
Indian Airlines has announced reduction in its fares from Sharjah to several Indian cities from Tuesday. The new promotional fares were applicable for outbound travel between August 1 and September 30. The fares are applicable only for the economy class.
Zydus Cadila to enter US, UK
In keeping with its corporate strategy of becoming a global player, Ahmedabad-based Zydus Cadila, already among the top five pharmaceutical companies in the country, has earmarked an investment of $5 million over the next year for getting a foothold in the regulated markets of the US and UK.
Essar posts Rs 4.83 crore Q1 net
Essar Steel has bounced back into the black with a net profit of Rs 4.83 crore in the first quarter ended June 30, 2000, against a net loss of Rs 137.96 crore in the same period last year. Net sales rose sharply from Rs 460.36 crore to Rs 686.24 crore, while other income increased from Rs 2.55 crore to Rs 6.50 crore during the period.
Hindalco Q1 net rises to Rs 176 crore
Hindalco Industries has reported a 27.5 per cent rise in net profit to Rs 176 crore during the first quarter of the current financial year, up from Rs 138 crore during the corresponding quarter last year.
ADB moots commercialisation
Asian Development Bank has approached the Centre to bring about reform in the road sector by encouraging private financing and strengthening the National Highway Authority of India. The bank has also suggested the commercialisation and maintenance of roads. The bank has proposed that the operation and maintenance of the Surat-Manor stretch be handed over to private parties.
Sensex down 26 points
Lacklustre trading continued in the market with only the MNC pharma scrips as a group showing some movement. After opening marginally higher, selling pressure took the Sensex lower and at the close it was 2.6.17 points down to 4253.69 points.
OCC proposal to clear dues
The Oil Coordination Committee has sought government nod for clearing dues of various oil firms worth over Rs 2,000 crore including that of Rs 505 crore sales tax reimbursement on Aviation Turbine Fuel supplies to international airlines. In a note to petroleum ministry, OCC said an amount of Rs 1314.03 crore was due to various oil firms.
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