Cabinet meeting: The cabinet meeting to clear the draft of the Ninth Five Year Plan has been advanced to Saturday. People in the know of the matter said that Prime Minister Vajpayee has prevailed upon his cabinet colleagues to clear the draft document without much ado, as two years of the plan period were getting over.

Prasar Bharati ordinance re-promulgated: The controversial Prasar Bharati ordinance, which had restored parliamentary control over Doordarshan and All India Radio, was re-promulgated by the President KR Narayanan on Thursday. The ordinance'spromulgation on August 29 last year had climaxed in the sacking of the 72-year-old SS Gill as chief executive of Prasar Bharati, as it had revived the original provision of the 62-year age ceiling for the CEO.

Centre hikes divestment mopup: The Centre is confident of mopping up about Rs 8,000 crore through the various disinvestment options it is exploring, top government sources said on Thursday. The figure is well above the disinvestment target of Rs 5,000 crore for this fiscal. The Government hopes that inter-company sale of equity in the three energy companies ONGC, IOC, and Gail will net about Rs 6,500 crore, and at least Rs 1,500 crore can be realised from VSNL, MTNL, and Nalco buying back equity from the it.

SM Dyechem revival package: A State Bank-led consortium has rejected a rehabilitation proposal of the ailing SM Shetty group flagship SM Dyechem, as it is not satisfied with the long repayment period and a complete waiver of interest charges. Financial institutions are game forthe promoter's proposal, but have attached a rider.

BPL's plans: The Bangalore-based consumer electronics and appliances major BPL plans to allot up to 23 per cent stake through a preferential offer to a group of NRIs and overseas corporate bodies, taking their holding to 24 per cent. The company has an equity base of Rs 26.94 crore, in which, the Nambiar family and directors hold almost 66 per cent.

Air India staff: Ailing public-sector airline Air India's cost-cutting drive got a boost as over 500 employees availed themselves of the leave without pay and shorter working week schemes launched last year. While the long-leave period varies, the shorter working week entails working any three days in week from Monday to Friday.

Synergy between IA and AI: The civil-aviation ministry on Thursday decided to achieve synergy between Indian Airlines and Air India in key areas of their operations within a time frame, ministry sources said. It has been also decided to initiate joint operationson several fronts by February to achieve maximum efficiency and economy, the sources said.

Raid on Concept Communications: The income-tax department on Wednesday raided the premises of the Mumbai-based Nirmal Suchanti-owned advertising agency Concept Communications. The raids, which will enter the third day on Friday, saw I-T sleuths searching Suchanti's residence and other companies belonging to him. The department has put few bank lockers under prohibitory orders. The companies which have been raided include Keynote Corporate Services and Keynote Finstock.

Cadbury's move: The Rs 354-crore Cadbury India has unveiled a new product Byte, and hiked most of its chocolate brands' prices by 18 per cent. Initially launched in the city, Byte is a strawberry-flavoured chocolate, priced at Rs 3 for a 10 gram bar. Industry analysts say the low pricing of Byte is to reach out to a wider consumer base in the target segment of under 12 years besides inducing more trial purchases.

KPIT Systems'subsidiary: The Mumbai-based KPIT Systems is setting up a subsidiary in Dubai at a cost of around Rs 45 lakh to look after its Middle East operations. The company will provide a range of services including re-engineering and migration, consultancy and ERP in the region.

Sensex up 93 points: Bullish FIIs and strong buying support from local speculators buoyed the 30-share Sensitive Index 93.41 points to 3,299.09 points. Riding on optimism at the kerb markets, the Sensex opened on a strong note at 3,239.85 points, and touched an intra-day high of 3,321.47 points.

SBI's euro deals: State Bank has struck more than 200 million worth of euro deals through its overseas branches in the first three days of trading in the pan-European currency. The bank also sees the business volume in the currency going up substantially in the near future from other domestic banks' euro-related deals.

Bank unions' demand: Bank unions will press for a 20 per cent wage hike instead of the 25 per cent theyhad sought, but the IBA has maintained its offer of an 8 per cent rise. The unions had called for a January 12 strike to get their demands fulfilled. They have rejected the IBA offer of a wage agreement with a prospective effect.

Federal Bank's plans: The Federal Bank will raise Rs 150-crore debt at 14.40 per cent to shore up its capital adequacy ratio. The Kochi-based private-sector bank is raising money through a 63-month issue, lead-managed by ICICI Securities.

AP may follow Punjab example: Taking a cue from Punjab, Andhra Pradesh too may raise loans at market-determined rates this fiscal. The state was slated to raise Rs 150 crore at the sale of state loans by the Reserve Bank on December 28 last year.

Cable Networks Act: The Centre may issue an ordinance to amend the Cable Networks Act as a prelude to lifting the ban on direct-to-home television service. People in the know of the matter said that the step may be initiated to organise the cable industry before lifting the ban onDTH service.

Thackeray discharged: Shiv Sena chief Bal Thackeray on Thursday returned to his Matoshree residence at Bandra after he was discharged from Lilavati Hospital. Thackeray was hospitalised on Wednesday with signs of fatigue.