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Corporate Economy Expressions Markets Leisure Saturday, March 28, 1998   Huge World Bank grant for IDBI to fund ozone-depleting substances' phase-out The World Bank has provided a Rs 105 crore grant to the Industrial Development Bank of India (IDBI) to fund phasing out of ozone-depleting substances (ODS). The World Bank grant will be used to fund the corporates substituting the chloro flouro carbons (CFC) with hydro CFC and hydro carbons to protect the global environment from the greenhouse effect.   Bankers take up core-sector funding bottlenecks with Bimal Jalan, Gokak Chiefs of banks and financial institutions met Reserve Bank of India governor Bimal Jalan and telecom secretary AV Gokak in Mumbai on Friday to discuss methods to remove bottlenecks in infrastructure financing. This is the fifth meeting on infrastructure financing ever since Jalan took over as the Reserve Bank governor. ECGC downgrade hits exports to SE Asia The Export Credit Guarantee Corporation of India (ECGC) has downgraded Thailand, Indonesia, Malaysia, South Korea and Philippines to the restricted cover group (Group-C countries). The downgrading has reportedly brought exports to south-east Asian countries to a standstill with a majority of domestic banks also having stopped financing exports to the region fearing defaults. Commerce ministry finalising DEPB rates for 360 additional items The Union commerce ministry is finalising the duty entitlement passbook (DEPB) rates for 360 additional export items. Currently, such rates are available for 1,500-odd export products under the scheme introduced on April 1 last year. DEPB is among the schemes under which exporters can avail of duty-free imports at international prices.   World Bank offers South Korea $2 bn to boost reforms The World Bank has approved a $2-billion loan for South Korea and said the money would help strengthen the banking sector and lay the foundation for strong and sustained economic growth. The new loan, to be released in a single tranche, brings World Bank funding for South Korea to $5 billion since last December. Railways to accelerate investment on high-density routes The Railways will accelerate investment on high-density routes that are economically viable to increase their capacity, according to the Railway Board chairman, V K Aggarwal. He added that the Railways will have to increase its investment, along with the help of the private sector, to maintain its market share in passenger and freight traffic.     Indonesia unlikely to cut oil output   Scene not so bleak for rubber industry in the country, say experts   Cotton mills beset by contamination   Indonesia may lift palm-oil export ban   Australian wool exporters brace for Asian fallout   Advance entry bills boost customs kitty   Indonesia mulls private debt formula   Inefficiency, high costs scuttle banks' bid to lower lending rates   Toilet soaps set to become dearer as Jakarta bars palm-oil extracts export   EU 1998 car demand put at 14.74m units   ICMF flays EC move to levy dumping duties on unbleached cotton fabric   HC notice to agriculture ministry on DAP subsidy   Unsettled policy inhibits US investment in telecom, says Richard Celeste   Industry body to plead for cut in bank holidays   Industry data sees demand revival round the corner   Ruling on Bajoria bail plea soon   Sena-BJP betrayed tenants   Tamil Nadu budget shows Rs 877-crore deficit   Buy a 2-wheeler scrip for a ride to the bank   Executive Briefing