Tuesday, November 10, 1998
Warped logic
The prime minister has rightly lambasted the US administration for its tilt towards Pakistan in its decision to partially lift economic sanctions. The US government's logic seems to be that it is in nobody's interest to have an "implosion" in Pakistan.
Steel-sector blues
Crisil's recent downgrade of eight steel companies underscores the strength of the downturn in the industry. Several steel companies have now been pushed into the lowest rating rung, with some of them defaulting on their interest payments.
Share buyback is analogous to takeovers
The president has promulgated an ordinance to amend the Companies Act, 1956, to deal with buyback of shares, nomination facility to shareholders, debentureholders and depositors, sweat capital and liberalising limits for investments, loans, etc.
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