Friday, March 12, 1999
Infosys ADR listed on Nasdaq
Infosys Technologies has made history, striking up the first Indian name on the Nasdaq roster. The Infosys American Depositary Receipt made a debut at US bourse Nasdaq, where technology stocks come home to roost, at a price of $34.
Tax holiday for export units doubled to 10 years
The corporate-tax holiday for 100% export-oriented units (EOUs) in export-processing zones has been doubled to 10 years. Earlier, the units were permitted a 5 year tax holiday over a block period of 8 years.
Centre may amend act to clip Trai wings
The Government is considering amendments to the Telecom Regulatory Authority of India Act 1997 with a view to retain the final authority on fixation of telecom tariffs.
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