NATIONAL India to extend $ 500 million credit to West Africa Giving a major impetus to South-South cooperation, India today (Mar 1, 2004) decided to provide concessional credit facilities of $ 500 million for projects identified in the economic and social sectors with eight West African countries under a new initiative termed 'TEAM-9'.
BSE: Sensex soars by 156 pts on hectic buying The Sensex rallied sharply and soared by 156 points at close for the second session in a row in brisk activity at the Bombay Stock Exchange (BSE) today (Mar 1, 2004) on hectic buying by retailers and operators as well as heavy purchases by Foreign Institutional Investors (FIIs).
ONGC to set up 1,100 retail outlets The country's largest oil and gas company, Oil and Natural Gas Corporation Limited (ONGC), would set up 1,100 retail outlets and 500 of its subsidiary, Mangalore Refinery and Petrochemicals Limited (MRPL), for marketing motor spirit and high speed diesel, a senior company executive said today (Marc 1, 2004).
'Overseas investors show strong interest in ONGC issue' Overseas investors have shown strong interest in the partial divestment of Government stake in ONGC (Oil and Natural Gas Corp) through public offer, one of the biggest issues slated to hit the market on March 5, the Union Disinvestment Minister Arun Shourie said today (Mar 1, 2004).
Inflation target of 4.5 % will be achieved: Jaswant Finance Minister Jaswant Singh today (Mar 1, 2004) said the Government is confident of achieving the inflation target of 4.5 per cent for 2003-04 and ruled out any revision.
PTC, Petronet LNG public issues open for bidding The Initial Public Offerings (IPOs) for Power Trading Corporation (PTC) and Petronet LNG Ltd (PLL) opened for bidding today (Mar 01, 2004) with investors placing bids for 0.16 per cent of PTC offer issue and 0.02 per cent of PLL issue in the first two hours.
Sensex surges upwards, PSU stocks in limelight After opening weak, the sensex later moved upwards showing signs of a fresh upsurge on the Stock Exchange (BSE) today (Mar 01, 2004) on renewed buying support from operators.
INTERNATIONAL EU slaps multi-million dollar trade sanctions on US The European Union (EU) today (Mar 1, 2004) slapped multi-million Dollar trade sanctions against the United States over illegal tax breaks given to US exporters, urging the US lawmakers rapidly to repeal the measures.
India's optimism on BPO justified: 'The Economist' Notwithstanding the protectionism and other hindrances, the current mood of optimism about the Indian business process outsourcing (BPO) sector's growth prospects seems justified, according to the London-based magazine 'The Economist'.
HSBC to move 6,000 support jobs to India, China HSBC Holdings Plc, the world's second-largest bank by market value, said it plans to move 6,000 jobs to support centres in India, China and Malaysia by the end of 2004 as it shifts work to lower-cost sites in Asia.
