World ship orders register 348% jump in 1997
The total world ship-order book in 1997 registered a 348% jump in 1997 at 203 million gross tonnage (mgt) as against 45.3 mgt in 1996. Vessels of 23.8 mgt were completed last year. The net ship-order book, the difference between the ships constructed and new orders, increased by more than 12.5 mgt to 12.8 mgt last year.
NBFCs, PSU banks line up for depository participation
About 40 financial services entities including ABN Amro Bank and ING Barings and a clutch of public sector banks have lined up to become depository participants with the National Securities Depository (NSDL). This will take up the number of DPs to 80 by June this year.
Investors get an exit option as bull run percolates to mid-cap companies
It's a dream come true for investors who thought they were holding worthless paper. The 30% rise in the Sensex over the past three months has seen a host of Group B stocks on the Mumbai Stock Exchange appreciating by over 100%. In fact, many companies which were languishing below par for a long time have suddenly attracted buying interest and spurted to above Rs 10.
HP apple orchards hit by diseases
Apple nurseries in Himachal Pradesh are witnessing a spurt in diseases owing to unrestricted supply of plants across the state, warn crop scientists. Incidence of powdery mildew in apple trees, a common fungal disease in nurseries, increased three-fold from 10% in 1986 to 30% in 1997 in just 11 years.
RBI body to review debt-recovery tribunals
The Reserve Bank of India (RBI) has constituted a working group under the chairmanship of NV Deshpande, legal advisor to the RBI, to review the functioning of debt-recovery tribunals (DRTs). Indian Banks' Association sources said the panel will look into various issues and problems confronting the functioning of these DRTs in expeditious recovery of bank dues and to examine the statutory provisions relating to the same.
Rabi '97-98 urea stock comfortable
India has comfortable urea stock for the 1997-98 rabi season as the availability of 126.05 lakh tonnes of the nutrient was higher than the Essential Commodities Act (ECA) allocation of 107.83 lakh tonnes for the season, an official release said. "Against the ECA allocation of 107.83 lakh tonnes of urea for the rabi season, the availability up to March 31, 1998 has been 126.05 lakh tonnes -- 117% of the allocation and 15.15 lakh tonnes more than the availability during 1996-97.
