IRA chief takes up policy norms for insurance segment
Insurance Regulatory Authority chairman N Rangachary met General Insurance Industry chief D Sengupta along with chiefs and financial advisors of four GIC subsisdiaries last week in Chennai to plan policy guidelines for the industry.

Al Manahal appoints Flour Daniel as consultant for Orissa petrochemical project
Abu Dhabi-based Al Manahal has appointed Flour Daniel as consultant for the $5-billion petrochemical complex in Orissa. Though Al Manahal had initially planned to set up the plant at Gopalpur when it signed the memorandum of understanding for the project in December 1997, it is now looking at the Paradip area.

Court upholds imposition of sales tax on lotteries
The Delhi high court has upheld a 1995 Delhi government notification imposing 20% sales tax on sale of lottery tickets and ruled that these tickets were "goods" within the meaning of Delhi Sales Tax Act. A division bench comprising justice RC lahoti and justice JB Goel dismissed 14 petitions filed by various lottery dealers and observed, "lottery tickets are "goods" within the meaning of Delhi sales tax act and are susceptible to tax as any other goods."

  Himachal Pradesh plans crop insurance scheme
  Analysts pick holes in amended PAN provisions, term it arbit
  Jayalalitha bares her fangs again, this time on Cauvery
  "Resolve currency shortage"
  Finance ministry likely to opt for two executive directors in state-run banks
  CAG raps Bengal forest department
  14 banks to aid SBI hawk resurgent bonds
  Fast-food chain thrives amid HK gloom
  Manila plans to widen T-bill market
  Malaysian household companies' names stumble with economy
  Jakarta's privatisation cheap, but seen risky
  Hopes for Indonesia's recovery remain faint
  Social security instruments source for easy money
  EU nations' bid to woo Asian seafood processors into JVs may
  World steel majors turn more aggressive
  Abundant rainfall registered so far this year
  Japan a threat to fragile Asian economy