Wednesday, September 2, 1998
Peeved Tatas walk out of airline plan now
Tata Industries on Tuesday withdrew its Rs 1,475-crore domestic airline proposal pending since December last year, stung as it seems to be by the civil aviation ministry's decision to set up an expert panel. Union civil aviation minister Ananth Kumar, while denying the Tatas' charge that his ministry had delayed a decision, said foreign investment in domestic aviation is a very sensitive issue.
L&T Information Technology forges closer links with Hitachi
L&T Information Technology Ltd (LTITL), the wholly-owned subsidiary of engineering and construction giant Larsen & Toubro Ltd, hopes to grow its business volumes substantially in the coming years with the fostering of a close relationship with the Japanese conglomerate Hitachi.
Indian Oil's foreign currency loans up 24% in '97-98
Indian Oil Corporation's (IOC) foreign currency loans have jumped by 24% last year, coinciding with the roughly 20% depreciation in the value of the rupee. The public sector enterprise, which was declared Asia's best sovereign borrower by Euroweek last year.
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