Daewoo to cut stake in local outfit to 51%
South Korean conglomerate Daewoo is planning to trim its stake in its Indian automobile subsidiary, Daewoo Motors India (DMIL), to 51% from the current level of 91.63%.

IBP weighs Numaligarh exit option
Faced with the prospect of a dent in profits, IBP is now exploring the option of selling its stake in the 3-million-tonne Numaligarh refinery valued at Rs 175 crore.

No PMO pressure on revenue-sharing -- Sorabjee
Attorney General Soli J Sorabjee said that he was neither summoned nor pressurised by the Prime Minister or his office into giving a legal opinion that allows existing telecom operators to migrate to a revenue-sharing regime.

CORPORATE
PFC sanctions fresh loans to three IPPs
A-I finds its incentive scheme unaffordable

ECONOMY
Two more textile mills down shutters in May
IMF gold fight delays debt relief to poor nation

EXPRESSIONS
Improving standards
New accounting norms for inventory valuation

MARKETS
Need to redefine hedging for using international energy exchanges
Market surge reflects economy's shift towards long-term growth

LEISURE
David Ogilvy -- A man with a vision
Pears to expand skin care range with 20 new products