INTERNATIONAL Hitachi takes over IBM’s HDD unit in $ 2 bn deal Tokyo: Japan's Hitachi Ltd will take over the Hard Disk Drives (HDD) business of US computer giant, International Business Machine (IBM), for $ 2.05 billion, the two companies announced on June 4.
NATIONAL Bailout package likely for UTI schemes New Delhi: Beleaguered Unit Trust of India on June 6 moved a step forward to work out a bailout package to meet the liquidity needs of two of its schemes maturing by June end with its chairman M Damadoran meeting Finance Minister Yashwant Sinha for this purpose.
Mahajan to talk to Tatas on VSNL issue New Delhi: In a bid to resolve the raging controversy over VSNL's decision to invest Rs 1200 crore in Tata Teleservices, government would soon talk with Tatas on the contentious issue, with Communication Minister Pramod Mahajan saying legal options would be the last resort.
Grain export reimbursement scheme shelved: Minister New Delhi: Food Minister Shanta Kumar said on June 6 that the proposed system of charging open market price for food grains from exporters and later reimbursing the differential with export price is impractical and is being kept in abeyance.
KPTCL divested of distribution, new firms formed Bangalore: The power sector reforms process in Karnataka has taken a major step forward with the state-run Karnataka Power Transmission Corporation Limited (KPTCL) divested of the distribution business, which would now be handled by four independent companies.
'Legal option on VSNL only if talks fail' New Delhi: The government said on June 6 that it would prefer to resolve the contentious issue of Videsh Sanchar Nigam Limited’s (VSNL) Rs 1,200 crore investment in Tata Teleservices through discussions and would explore legal options only if the talks failed.
Shourie, Mahajan meet Advani on VSNL issue New Delhi: Amidst the raging controversy over VSNL's decision to invest Rs 1,200 crore in Tata Teleservices, Union Ministers Pramod Mahajan and Arun Shourie, who have been in focus on the issue, jointly met Home Minister L K Advani on June 6.
