The Financial Express -- News

Saturday, December 27 1997

SEBI panel to fix norms to curb firms from shopping for rating

The Securities and Exchange Board of India panel appointed to finalise norms to regulate credit-rating agencies will consider the possibility of curtailing "rating shopping". Rating shopping means when a company is dissatisfied with the rating it has obtained from a particular agency, it goes to another one to seek a better outlook.

Chelliah to get FE Economics award today

Raja Chelliah, noted expert in public finance and policy, will receive the Financial Express Award for Economics for this year on Saturday. The award will be presented at the annual conference of the Indian Economic Association (IEA) at Osmania University, Hyderabad, in the presence of Andhra Pradesh governor C Rangarajan, and the officers and members of the association.

Indo-Oman fertiliser plant to go on stream soon

The Indo-Oman $1,106 million fertilizer project is expected to start in Oman in July next year. The joint venture company - Oman India Fertilizer Company (Omifco) - will be incorporated in January and the lead arranging bank is expected to be selected by the end of February.

General Insurance's all-risk policy has few takers

Kalmadi quits Congress, blasts Sitaram Kesri