INTERNATIONAL WB warns India on fiscal deficit, slow reforms Washington: World Bank has warned India that its growth prospects are weakened by high fiscal deficits and slow reforms, and the country needs to accelerate poverty reduction efforts, especially in UP, Bihar and MP, to meet the Millennium Development Goals (MDG).
NATIONAL Oppn questions legality of oil PSUs divestment New Delhi: A determined Opposition in Rajya Sabha on December 9 challenged the legality of disinvestment of oil public sector undertakings (PSUs) Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd (BPCL) without bringing the necessary legislation to amend the Act of Parliament by which they were set up, throwing the House into turmoil.
Lufthansa to operate 3 more B'lore-Frankfurt flights Bangalore: Under the directive of the "open skies policy" of the government of India, Lufthansa German Airlines on December 9 announced that from January 15 to March 15, 2003, it would operate three additional flights from Bangalore to Frankfurt and a vice versa.
Govt decides to put on hold NALCO privatisation New Delhi: Government is believed to have decided to put on hold privatisation of aluminium firm NALCO in view of opposition from both within the Centre and Orissa leadership, besides its employees.
SENSEX reacts sharply, falls on profit booking Mumbai: After an initial rally, equities reacted sharply and closed with marked falls pushing the SENSEX down by nearly 37 points on the Bombay Stock Exchange (BSE) on December 9 even as the government announced strategic sale of Hindustan Petroleum Corporation Limited (HPCL) and a public offer in the case of Bharat Petroleum Corporation Limited (BPCL).
Govt announces oil PSUs divestment plan in LS New Delhi: The government on December 9 announced in the Lok Sabha that Hindustan Petroleum Corporation Limited (HPCL) would be privatised through sale of equity to a strategic partner and Bharat Petroleum Corporation Limited (BPCL) through public offer.
NDTV allowed 16.47 pc FDI in new news channel New Delhi: The government has approved New Delhi Television Ltd's (NDTV) proposal to start a 24-hour news channel with foreign equity component of 16.47 per cent while that of Star News Broadcasting is still "under process", Rajya Sabha was informed on December 9.
Premji asks Indian firms to challenge constraints Bangalore: Infotech czar Azim Premji on December 9 exhorted Indian companies to think big, challenge constraints and always look upon optimising resources and keeping costs down, as if one is in a downturn.
SENSEX opens firm on fresh buying by bulls, FIIs Mumbai: The SENSEX opened firm and rallied further at early stages on a consistent upsurge in stocks on the Bombay Stock Exchange (BSE) on December 10 on fresh buying by bull operators and selective purchases by Foreign Institutional Investors (FIIs).
