Friday, July 17, 1998
Senate moves to further ease sanctions against India, Pakistan
A day after the Congress moved to exempt agricultural products from US sanctions imposed on Pakistan and India, the Senate has voted to allow the White House to further ease the measures. The amendment adopted by Congress on Thursday gives the US administration authority to lift trade sanctions on India and Pakistan for 12 months.
MRL throws in the towel; to exit from Arochem project
Madras Refineries Ltd (MRL) has decided to quit wrangling with its joint venture partner and get out of the long-stalled Rs 3,800 crore National Aromatics and Chemicals (Arochem) project instead. The decision is likely to be formally ratified by the MRL board on Friday.
LML locked in talks with European, Korean firms for motorcycle tie-up
The Kanpur-based LML Ltd is talking to European and Korean manufacturers to tie up technology for its proposed motorcycles. LML would continue to honour the agreement on buyback of components and exports.
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