Exporters, customs dept get down to clear backlog
Jewellery exporters and the customs department have began clearing the backlog of rough diamond imports, which got entangled in a controversy after the new 5% import duty that was levied by the finance minister in the 2001-02 Budget proposals announced on February 28.

Petroleum ministry considers alcohol-based fuel proposal
The ministry of petroleum is considering a proposal, which envisages the development of alcohol-based fuel as an alternative to petrol.

Swiss grain-trading major saddled with $400m debts
Asia's commodity business will find the going even tougher after Swiss-based Andre & Cie, a 123-year-old commodity merchant, became the latest casualty of consolidation in the multi-billion dollar global raw materials market, regional traders said on Monday.


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