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Corporate Economy Expressions Markets Leisure 31 January 1998   NTPC seeks fresh World Bank aid In a bid to part finance its Ninth and Tenth Plan projects, the National Thermal Power Corporation (NTPC) has asked for fresh loans from the World Bank along with restructuring of its earlier loans. NTPC has now asked the Bank to release a total of $1 billion to it by the end of this year. Out of this, $200 million is the fresh amount and $800 million is part of the $1.2 billion `time slice loan'.   Tata Tea reviews portfolio to meet expenditure of ongoing projects The Tata Tea is reviewing its financial portfolio to meet the long-term capital expenditure required for its ongoing projects. During the current fiscal, the tea major has converted loans worth Rs 21 crore into a foreign line of credit, placed non-convertible debentures and floated a fixed deposit scheme. Thapars plan 18% private placement in Andhra Pradesh Rayon The Thapar group is negotiating a private placement of about 18% stake in Andhra Pradesh Rayon with a "private equity fund". Andhra Pradesh Rayon has an equity base of Rs 26 crore which will be expanded to Rs 33 crore after the private placement. UF steers clear of reforms commitment The United Front (UF), in its economic manifesto, has adopted a cautious path by avoiding all issues that may become a source of conflict among its constituents. The manifesto steers clear of any commitment on continuing the reforms process, indicating that the Left parties have had their way.   UPL promoters' stake up after warrant conversion The promoters of United Phosphorous Ltd (UPL), the Shroff family, have been issued only nine lakh shares through warrant conversion allotted out of the earlier stipulated 36 lakh shares. The balance warrants, which represent 27 lakh shares, have lapsed. In the process, the Shroffs had to shell out just Rs 7.2 crore, which otherwise would have worked out to about Rs 29 crore. McCann Erickson gears up for talent-hunting, acquisitions In a strategic move to capitalise on the current recessionary trends in the advertising industry, McCann Erickson India has drawn up aggressive plans to acquire other promising agencies. The outfit, a wholly owned agency of the US-based McCann Erickson, has earmarked a whopping Rs 120 crore for such acquisitions.   CORPORATE Rupee rumble forces Mannesmann Rexroth to skip dividend Toyota family car by December 1999 ECONOMY Ministry upholds steel industry projections Trade bodies to boycott exports via JNPT from February 1 EXPRESSIONS Accelerating FDI Debt gains MARKETS Nifty rises 22 points on fund-buying LSE undecided on merger with DSE LEISURE Academia for meaningful corporate support When competition reigns, success lies only in ideas alt="Bottom banner spot" border="0">