Coimbatore burns as bomb blasts kill 32; flight delay saves Advani
At least 32 people have been killed and around 100 injured as over nine key areas of Coimbatore in Tamil Nadu were rocked by a serial bombing on Saturday evening. The bombings took place in a space of one hour, between 3.30 p.m. and 4.30 p.m. The Tamil Nadu government has banned two Islamic fundamentalist organisations and brought in the army into Coimbatore following the blasts.
Bank investments down by Rs 3,854 crore
Bank investments dipped by Rs 3,854 crore for the fortnight ended January 30, 1998. Industry analysts attributed the fall to panic-selling of treasury bills and government securities by banks after the Reserve Bank of India's announcement of a tight money policy on January 16. Bank credit during the fortnight grew by 1.7% while deposits grew by only 0.5%.
Metal Box to shift office to New Delhi
The ailing company, Metal Box India Ltd, received a bit of good news yesterday. At an extraordinary general meeting in New Delhi, the company's shareholders approved a proposal seeking to shift its registered office from Calcutta to New Delhi. The company further added that it planned to sell its second unit in Calcutta and its research division to generate funds for its revival scheme.
CSE to launch TGF and demat trading by April 6
The Calcutta Stock Exchange authorities have set April 6 as the deadline for launching the trade guarantee fund (TGF) and dematerialised trading. At a board meeting yesterday, it was also decided that support systems for online surveillance will be readied in the meantime so that they can be made effective from the first week of April. The exchange, incidentally, completes one year of online trading in April.
Boeing hopes to weather Asia storm
Global aircraft major, Boeing Co on Saturday, claimed that the recent Asian financial crisis might delay airplane deliveries over the next three years. Boeing, however, added that the crisis would have no long-term impact on it's business. Boeing recently signed a joint venture agreement with Hexcel Corp, Malaysia Helicopter Services Bhd and Sime Darby Bhd, a move which it claimed was reflective of its commitment to Asia.
Colour TVs slash prices in a bid to stay in the black
Colour television manufacturers -- domestic as well as multinational -- are gearing up to breach all price barriers this year. Prices are expected to tumble to all-time lows within all segments of screen sizes, but more so in the 20-inch and 21-inch categories as companies announce price cuts while introducing "economy" models targeted at the semi-urban consumers.
