Financial Express - India's leading business newspaper from the Indian Express Group

NLDOs permitted to carry intra-circle traffic

The Government has decided to the allow the aspiring National Long Distance Operators (NLDOs) to carry intra-circle traffic, albeit with a rider: it will have to be done under a mutually-accepted agreement with the Fixed Service Providers (FSPs).

Asianet to be out of Zee Telugu venture too

Asianet Communication will not be involved in the Telugu channel which Zee Telefilms plans to launch through its wholly-owned subsidiary.

4 PSU banks team up for non-life insurance

Four state-owned banks -- Punjab National Bank (PNB), Bank of India and Allahabad Bank and possibly Vijaya bank -- have decided to join hands for storming the non-life insurance sector.

Escotel's total losses climb to Rs 438 crore

Cellular service provider Escotel Mobile Communications' accumulated losses have risen to Rs 438.21 crore as on March 31, 2000, eroding its networth of Rs 310 crore. During the year 1999-2000, Escotel's net loss came down by nearly 28% at Rs 135 crore from Rs 187 crore in 1998-99.

Re depreciation is temporary, says Sinha

The union finance minister Yeshwant Sinha on Sunday termed the depreciation of the rupee as a "temporary phase". Talking to reporters here, Sinha said this has happened due to temporary mismatch of demand and supply of dollars.