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AmEx
to focus on retail, technology for growth
AMERICAN Express Bank (AmEx Bank) will focus on research, value-addition
and operating advantages like technology to make further inroads into
the local market. The bank is also looking at entering into the housing
finance market.
State
govt, MSEB reject DPC lenders demand for escrow
The Maharashtra government and the Maharashtra State Electricity
Board (MSEB) have firmly refused to adhere to “any conditions,” including
providing an escrow cover and raising the limit under Letter of Credit
(LCs) to Enron’s Dabhol Power Company (DPC) as per the latest demand by
its global and domestic lenders.
Tainted
firms may be kept out of PSU bidding process
THE government is preparing guidelines to keep out
tainted companies from the bidding process in the sale of public sector
undertakings (PSUs). The guidelines, being worked out by the Department
of Disinvestment (DoD), the law ministry and other ministries, are expected
to be complete within a week.
MMCB
chairman, CEO arrested
MADHAVPURA Mercantile Cooperative Bank (MMCB) chairman Ramesh
Parikh and chief executive officer Devendra Pandya, who allegedly misutilised
the bank’s deposits amounting to thousands of crore, were arrested on
Monday under the provisions of the Prevention of Anti-Social Activities
(PASA) Act.
Iraq
may seek further oil cuts at next Opec meeting
IRAQ may seek another cut in oil production at the next Oil
Producing and Exporting Countries (Opec) meeting on June 23, announced
oil minister Amer Mohammed Rashid.
IDFC
posts Rs 140-cr net pofit in 2000-01
THE Infrastructure Development Finance Company Ltd (IDFC)
has recorded a net profit of Rs 140.44 crore over a total income of Rs
314.90 crore during 2000-2001 .
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