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Friday, March 5, 1999

Select panel caps foreign stake in insurance ventures at 26%
The Standing Committee on Finance in its meeting on Thursday decided to limit foreign equity to 26% in new insurance companies in its recommendations for modifying the Insurance Regulatory Authority (IRA) Bill. The committee decided that the reservation of 14% equity for foreign institutional investors and overseas corporate bodies mentioned in the IRA Bill be scrapped.

Axe accounts fudging from laundering bill -- Members
The standing committee on finance has suggested significant dilution of the Prevention of Money Laundering Bill by asking the Government to exclude crimes like falsification of accounts and imitation of fire arms from the ambit of the Bill.

Ministry in a quandry over new firms demand for slice of SDF pie
The steel ministry is in a fix over the demand made by new steel-makers for access to the Steel Development Fund, a soft-loans corpus managed by the Government-controlled Joint Plant Committee. Some of them have even threatened to go to court if they are denied the facility.


Inspirations furnishing fabrics

Central Electronics Limited

Patel Roadways Limited


  Centre to set up multi-end silk units in Ninth Plan
  Centre asks domestic steel producers to cut prices
  Plea to put coir in negative list mooted
  Plea for placing coir in negative list
  China a major threat to Indian cotton exports -- Centre
  China emerging as a major threat to Indian exports
  IMF criticises Russia's economy
  JP Morgan sees further cut in CRR, rupee slide
  IMF urges Asia to encourage more private sector creditors
  Local polyester staple fibre makers rebut Reliance claim on dumping
  China offers consumer loans to spur growth
  IMF urges Asia to encourage more private sector creditors
  New Bio-diversity Act in the offing
  Reserve Bank plans lower CRR on gold deposits
  Steel ministry in fix over new firms' demand for SDF-loan access
  Indian imports of soft oil to rise
  Centre revenue target may go awry as firms eye tax loophole in Sinha opus
  Market rally may just be short-lived -- Chidambaram
  PSF manufacturers refute RIL claim on dumping
  Ministry draws up national policy on biodiversity
  DoT offers to extend licence-fee payment deadline to March 31
  Loans will be cleared if India signs CTBT, says Karl Inderfurth
  Executive Briefing
  Ceramic sector flays excise duty rationalisation
  Finance panel pegs foreign equity in insurance at 26%
  Noga jams on shop shelves again
  DoT offers to extend licence fee payment deadline to March 31
  Loans will be cleared if India signs CTBT
  Executive Briefing
  Falsification of accounts must go from Money Laundering Bill ambit
  Ceramic sector flays duty rationalisation
  Govt will stick to terms of agreement -- Telecom secy
  IT industry peeved at FM's indifference to task force's suggestions
  Betting Tax reduced
  Govt considering expanding scope of satellite uplinking
  PSUs record 37% jump in profit during 1997-98
  Sops sought for textile sector under EPCG scheme
  Greenspan, US Treasury differ on social security investment
  `Dumping duty on mushroom rationalises global prices'
  India to switch over to cheaper soft oils, than palm olein



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