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Corporate Economy Expressions Markets Leisure 02 February 1998   Cabinet panel lifts DAP price cap, clears buffer-stock plan The Cabinet Committee on Economic Affairs (CCEA) has approved the buildup of buffer stocks in diammonium phospate (DAP), muriate of potash (MoP) and single superphosphate (SSP), all vital crop nutrients. The CCEA also decided to abolish the cap on prices of DAP and other complex fertilisers, beginning from April this year. This move is an attempt to avoid the crisis caused by the shortage in DAP and other complex fertilisers since October 1997.   Tight money trips FI's short-term lending plans In a bid to avoid any asset-liability mismatch, financial institutions have suspended or curtailed their short-term lending programmes temporarily, following the RBI's recently tightened monetary policy. This move was prompted because of the cheaper access to funds enjoyed by banks, thus rendering short-term funding activities non-viable for the institutions. States may ape Centre's strategy to tap funds cheap State governments are all set to take a leaf from the Centre's book on cash management. The idea is to reduce the cost of borrowings and hit the market at the right time. The move stems from a suggestion mooted by the RBI which sought to change the state governments' borrowing from the prevailing fixed coupon rate to the auction method. Ficci favours duty on sugar import Duty-free import of sugar introduced in March 1994 should be reviewed by the new government and appropriate duty imposed, Federation of India Chambers of Commerce and Industry (Ficci) has suggested. Ficci claimed that an import duty would be necessary to protect the domestic sugar industry and the sugarcane farmers from dumping by multinational companies.   State polls to see three-legged battle between Sena-BJP, Cong-RPI and Front Maharashtra will witness a triangular contest for the 48 Lok Sabha seats from the state, the major fight being among the ruling Shiv Sena-Bharatiya Janata Party (BJP) and the Congress-Republican Party of India (RPI) alliances and the United Front. The UF will, however, be weakened due to its major constituent, the Samajwadi Party, shifting its loyalties to the Congress camp. US, Japan reach historic aviation agreement The United States and Japan have announced a new aviation agreement to boost the number of flights and carriers serving the $10 billion a year market between the two nations. After 11 straight days of talks, US passenger and cargo-carriers won new rights to serve Japan in return for giving a second Japanese carrier unrestricted US access.     MTNL, VSNL gear up to take on private operators   Working group plea on core sector advances spiked   Executive Briefing   Maharashtra Briefing   Calcutta Fair to become an annual feature   Federation chief sees fall in export growth, seeks Narayan intervention   Asian jitters egg parties to vow protection   Banks to revoke levy on loans to mini firms   "Change in mindset on pay package needed"   World Bank chief in summit with Thai PM   Taiwan remains world's top computer-casing supplier   Korea to renegotiate interest rates with IMF   World Bank affirms stand on poverty eradication   Commission to HUF nominee partner is not considered paid to HUF   Indonesia faces critical week for rupiah   Financial Briefing   Clinton budget shows surplus