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MSEB
refuses to backtrack from legal battle against Dabhol Power Company
The Maharashtra State Electricity Board categorically told
the Indian financial institutions that it would not be possible to keep
legal battle aside against the Dabhol Power Company, although Dabhol phase-II
is 90 per cent complete.
HLL
seeks options for sick JV
Hindustan Lever Ltd (HLL) is considering various options for potentially
sick joint venture company Lever Johnson (Consumer Products) Ltd, including
whether to continue with the JV, due to the latter’s dismal financial
performance.
Baramati
Social Venture Fund launched
A US $50-million Baramati Social Venture Fund for the creation
of socially responsible information technology was announced here on Saturday
to guide innovators to develop sound business and project plans.
I-Sec
foresees positive sentiment despite downgrading by Fitch
Though the prices in the government securities market slid
by around 50 paise on Friday, after Fitch downgraded the outlook on India’s
sovereign ratings to ‘negative’ from ‘stable’, the ICICI Securities and
Finance Company (I-Sec) Ltd predicts that negative sentiment in the market
will soon wear off.
Andhra
plans scheme to revive sick industries
As part of its programme to revive the ailing small scale
industrial sector in the state, the Andhra Pradesh government is planning
to introduce Andhra Pradesh Small Scale Industry Revival Scheme. According
to official sources, an order to this effect is likely to be issued by
the government in a week’s time.
Indian
corporates rope in KPMG for overseas expansion schemes
Management consultant KPMG on Sunday said several large-sized
Indian companies have engaged it to devise their overseas expansion plans,
since their capacity utilisation and market share growth potential within
India have already reached optimal levels.
ONGC
to increase stake in Gulf of Khambat joint venture with Cairns Energy
to 40%
The Oil and Natural Gas Corporation (ONGC) will increase its
stake to 40 per cent in its Gulf of Khambat Oil and Gas Block joint venture
with Cairns Energy of the UK.
MMTC
plans productivity improvement programmes, to focus on optimum returns
MMTC Ltd in its efforts to become a leading international
trading house has decided to bring about radical improvements in production
by enhancing operating efficiency and increasing employee as well as capital
productivity substantially from the current levels, its chairman-cum-managing
director SD Kapoor said.
Garment
exporters seek productivity-linked wages, file suit before Labour Commission
WITH productivity rates being among the lowest in the region,
garment exporters have filed a case before the Labour Commission for productivity-linked
wages in the sector.
SBI
Life to hit 20 cities on June 15
The post-liberalisation domestic life insurance market is
expected to gain high momentum with state-owned SBI Life Insurance planning
to storm twenty cities in the country with its array of life insurance
products on June 15.
Smooth
transition expected in Nepal
Official circles here expect a smooth transition in Nepal
after Friday’s royal massacre and do not apprehend any adverse fall-out
for Indo-Nepalese relations if the Regent Gyanendra finally succeeds King
Dipendra, who is on life-support system and considered unlikely to recover.
Paddy
cultivation area dips due to water scarcity
Though the pre-monsoon rainfall for the country this year
has been normal, the farmers in the country are not encouraged to go for
higher area coverage for paddy cultivation.
Indian
Bank posts Rs 274-crore net loss
CHENNAI-based Indian Bank has posted an operating profit of
Rs 61.59 crore during the year 2000-01 as against Rs 23.86 crore in the
previous year, registering a growth of 158 per cent. This is after taking
into account the amortisation of the first instalment of voluntary retirement
scheme (VRS) and other staff related provisions such as leave encashment
etc. aggregating Rs 96.01 crore. However, the net loss of the bank during
the year stood at Rs 274 crore compared to a net loss of Rs 426.97 crore
in the financial year ended March 2000.
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