The cabinet will meet on Tuesday to consider the oil sector recast recommendations which were approved recently by the committee of secretaries. They include sale of government equity, either wholly or partially, in Madras Refineries, Engineers India and Bongaigaon Refinery and Petrochemicals to Indian Oil Corporation while the same will apply in the case of IBP and Cochin Refineries to Bharat Petroleum Corporation.

CLB dismisses plea

The Company Law Board has dismissed the petition against Bank of Rajasthan filed by a minority shareholder and former employee under Section 237 of the Companies Act for investigation into the affairs of the company.

Clinton warning

President Bill Clinton said on Thursday he hoped that Pakistan would return to a civilian government as quickly as possible and sternly warned Islamabad, as well as New Delhi, not to resume nuclear testing.

Musharraf is Pak's new chief executive

Pakistani army chief General Pervez Musharraf declared himself the country's new ruler on Friday amid mounting concern about prospects for a quick return to civilian rule.

GM's Asia car in 2001

General Motors' push into Asian markets gathered momentum on Friday when it announced plans to produce and market a small sporty passenger car in Asia in 2001. GM unveiled its first prototype with Suzuki on Friday in Tokyo.

Sena-BJP gets first chance

Maharashtra governor PC Alexander on Friday decided to give the first opportunity to Shiv Sena-BJP combine to prove its strength for formation of government even as prospects of a Congress-led ministry dimmed with NCP leader Sharad Pawar terming the talks with the former on forging an alliance "unsatisfactory".

Geometric Software IPO

Geometric Software Solutions has decided to come out with a public offering at a premium of Rs 290 per share. The company is on course to offer 13,10,000 equity shares of Rs 10 each aggregating Rs 39 crore.

Nickelodeon's debut

Nickelodeon kids channel, after deliberating for a long time, will finally make debut in India on October 16.

BPCL to get 11% in Central India

The ministry of petroleum and natural gas has decided to allocate BPCL a 11-per cent stake in the Rs 4,400-crore Central India pipeline, originally Reliance Petroleum's brainchild.

SWL gives nod to Rabobank

Shaw Wallace has given Rabobank the mandate to sell its agri-chemicals division and holdings in subsidiaries Shaw Wallace Gelatines and Shaw Wallace & Hedges, subject to court approval.

Indian Rayon buyback

Indian Rayon's share buyback proposal has received bids for only around 11 per cent of its total paid-up share capital of Rs 67.48 crore. The finance committee of the board has fixed the final cut-off price at Rs 85 a share.

Piramal-Bupa tie up

Piramal Enterprises has entered into a 50:50 joint venture with UK's healthcare provider Bupa to provide `one-stop' health facilities in the country.

Infosys' software development campus

Infosys Technologies on Friday opened its software development campus at the Pune Infotech Park.

Philips factory sale

The Supreme Court on Friday allowed Philips India to sell off its largest colour television factory in India at Salt Lake in Calcutta to Kitchen Appliance India, a Videocon group Company.

Asarco to break Phelps deal

Copper producer Asarco said on Friday it planned to break a planned $1.17 billion cash and stock merger pact with Phelps Dodge in favour of a newly-sweetened $1.18 billion cash bid from Grupo Mexico AG.

Nalco's performance

National Aluminium Company has registered a 39.80-per cent growth in the net profit of Rs 178.07 crore achieved during the first half of the current fiscal year compared to the Rs 127.37 crore of the corresponding period of 1998-99.

Petronas halts Pak operations

Petroliam Nasional Bhd (Petronas), said on Friday it has halted operations in Pakistan, for the safety of its people there, after a state of emergency was declared there.

Utah appoints trade counsellor to India

Utah on Friday appointed Chandigarh-based Pepsi franchisee Kewal S Dhillon as its first trade counsellor to India as part of a move to directly promote bilateral trade.

T-bill auction

The weekly auctions of the 14-day and 91-day treasury bills held on Friday devolved entirely on the RBI. At the 14-day T-bill auction, the central bank received 13 bids totalling Rs 114 crore for a notified amount of Rs 100 crore.

Clean Barrister may strike again

The piece de resistance of the Pune meeting is the 2000-metre Pune Derby on Sunday. The field includes five fillies. And the quality of the assembled company is below par for an event of this nature. The long distance race tomorrow sees last week's winner, Clean Barrister, trying to strike again while the fire is hot.

-- Compiled by Samuel Bodapaty