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Monday, May 11, 1998

	Key counter provisions likely to be inserted in amended Patents Act The Union government has incorporated two crucial counter-provisions -- relating to public health & nutrition and national security -- in the amendments to the Patents Act of 1970, as required by the Agreement on Trade Related Aspects of Intellectual Property Rights (TRIPS). The new caveats are contained in a cabinet note prepared by the Union ministry of industry.		US firm may pick majority stake in Vembar LNG plan The US multinational oil major Arko, with whom Indian Power Projects, (IPPL) the promoters of the 2000mw Vembar power project based on liquified natural gas (LNG) have recently signed a memorandum of understanding (MoU) for fuel supplies, is expected to take majority stake in the LNG project that is planned for the project. Arko will have full responsibility of gas supplies.
	Filmdom dons industry status; to come under concurrent list The Union government has accorded industry status to the film industry. A government order in this regard would be passed soon after working out the modalities. The Union I&B ministry would place before parliament a proposal to bring films under the concurrent list, bringing it under the ambit of the Centre.		Corporation Bank set to keep clear of industry wage pact Several public-sector banks, led by the Mangalore-based Corporation Bank, have decided to follow in Bank of Baroda's footsteps and break away from the traditional industrywide wage pact. The move comes against the backdrop of the nine bank unions, collected under the umbrella of the United Forum of Bank Unions, bracing themselves for a fight to a finish on the matter.

Chescor set to pick up 26% in Bilt Chemicals
Chescor, a UK-based investment banker, is picking up a 26% stake in Bilt Chemicals, the new company formed after hiving off the chemicals division of Ballarpur Industries Ltd (Bilt). Chescor will also hold a 18% stake in AP Rayons, another LM Thapar group company. The funding is being done by the company's Mauritius arm.

Hindustan Lever may put multi-tier direct-marketing network
Hindustan Lever (HLL) is considering adopting a multi-level direct-marketing system to promote its products in India, according to HLL chairman KB Dadiseth. Recently, the US-based Amway Corporation had kicked off its operations of recruiting distributors for a multi-level marketing network to sell its consumer products.

CORPORATE
Coal India arm referred to BIFR
Crompton Greaves may shift Mohali unit to Bangalore

ECONOMY
Shiv Sena draws up plan to end Congress hold on cooperatives
Oil pool to bear 5% duty on crude till budget

EXPRESSIONS
Stagnating exports
Too late in the day

MARKETS
Promoters resort to "subsequent public offers" to skirt dull market
Crude imports rise on domestic demand

LEISURE
It pays to put people first and foremost
NSE believes in continuous improvement