5-year tax sop for Net operators likely
The Telecom Commission, in a further bid to make internet services attractive, has accepted the core group's proposal to make terms and conditions promotional and not to charge any licence fee from private operators for an enhanced five-year period. The Private Internet Service Providers' (ISP) licences are likely to be offered immediately on submission of applications.
Corporate cash crunch casts a shadow on DD coffers
Thanks to the acute liquidity crunch faced by corporates, Doordarshan's commercial earnings are expected to see a slump of over Rs 100 crore in the current financial year. This is primarily due to large amounts which private companies such as ABCL, Nimbus and Plus Channel owe DD.
FIs bail out Gontermann-Peipers' issue
Gontermann-Peipers' Rs 63-crore public issue has been bailed out by institutional investors who came in with bulk applications. Faced with a poor response from public shareholders, the company was also forced to extend its Rs 81.75-crore rights issue to January 12, 1998.
ONGC in talks with Slumburger, Halliburton for Neelam service deal
The Oil & Natural Gas Corporation (ONGC) has initiated talks with oil multinationals Slumburger and Halliburton Inc for a technical-services agreement for the controversy-ridden upgradation plans for Neelam oilfields. ONGC had earlier sought the Union petroleum ministry's nod for a 50:50 joint venture for shoring up falling production levels in Neelam, but the government suggested a technical-services deal.
Hong Kong disinfects farms, markets and poultry
Hong Kong began disinfecting farms, markets and poultry stalls on Thursday after more than a million birds were slaughtered to contain the deadly "bird flu" virus. By late Wednesday, authorities had largely completed the cull of about 1.4 million chickens and other fowl, ordered after four people died in Hong Kong from the H5N1 strain of avian influenza.
West Bengal denies move to privatise Great Eastern Hotel
The West Bengal government is not negotiating with any party regarding privatisation of the Great Eastern Hotel, according to state tourism minister Manab Mukhopadhyay. He was reacting to reports claiming that the hotel might be up for sale soon. He, however, confirmed that the government had received many proposals for the hotel.
