INTERNATIONAL EU passes approval for GM to acquire Daewoo Brussels: The European Union (EU) Commission on July 23 gave approval for General Motors of the United States to acquire South Korean auto manufacturer Daewoo.
WorldCom to operate albeit under microscope New York: WorldCom Inc has received preliminary court approval to go about its day-to-day operations, but the telecommunications company will be under intense scrutiny as it tries to emerge from the biggest bankruptcy in US history.
NATIONAL BEML develops aircraft loading vehicle 'Bheema' Bangalore: The engineering major Bharat Earth Movers Limited (BEML) rolled out the indigenously developed aircraft weapon loading vehicle "Bheema-1000".
Naik to seek PM's help for HPCL, BPCL funds New Delhi: Amidst pressure from the Ministry of Disinvestment for privatisation of Hindustan Petroleum and Bharat Petroleum, Oil Minister Ram Naik said the two public sector undertakings (PSUs) needed large funds for expansion projects and he would approach Prime Minister to raise resources through an Initial Public Offering (IPO) of equity shares.
'Nawab Shourie is selling his family silver' New Delhi: Government's disinvestment policy on July 26 came in for sharp criticism from All India Trade Union Congress (AITUC), which compared Disinvestment Minister Arun Shourie's reported move to sell stake in blue chip public sector undertakings (PSUs) to a "Nawab selling family silver".
Audit firms accountable for financial frauds: Jaswant New Delhi: The auditing firm of any company whose accounts do not "present a true and fair view of the affairs" in Indian operations can be prosecuted under Section 233 of the Companies Act, the Lok Sabha was informed on July 26.
Oil majors sign pact with govt for gas exploration New Delhi: Reliance Industries, Essar Oil, Oil and Natural Gas Corporation (ONGC) and Indian Oil Corporation (IOC) on July 26 signed contracts with government for exploration of gas in five Coal Bed Methane (CBM) blocks awarded to them.
