Trade advisory panel to meet on Jan 29: A trade advisory committee set up by the Government to give suggestions on issues relating to multi-lateral trading will hold its first meeting on January 29, official sources said on Sunday. The committee, set up on the suggestions of the parliamentary standing committee on commerce, would be headed by former commerce secretary Abid Hussain, they said. Commerce minister Ramakrishna Hegde will chair the first meeting.

India to oppose US move toblock loans: India is likely to oppose at the forthcoming Strobe Talbott-Jaswant Singh talks the US move to lobby among other governments against World Bank development and other multilateral funding agencies' loans to the country's private enterprise in violation of their charter.

EU for anti-dumping probe on Indian steel: The European commission (EC) has decided to launch anti-dumping and anti-subsidy investigations on imports of hot rolled coil steel from India and a few other countries into the 15-nation bloc. While India, Taiwan and South Africa are facing both anti-dumping and anti-subsidy probe, Bulgaria, Iran and Yugoslavia are being subjected only to anti-dumping investigations on this matter, an EC official told PTI from Brussels.

IOC, IPCL plan petrochem operations abroad: The Indian Oil Corporation has kicked off talks with navratna counterpart, Indian Petrochemicals Corporation (IPCL) on the possibilities of setting up refineries and petrochemical complexes abroad. "There isevery reason to believe that there are tremendous synergies in operations if the two PSUs join hands," top sources said.

Godrej hires Kotak, Lazard for group recast: The Rs 1,000-crore Godrej group, has hired three merchant bankers - Kotak Mahindra, Lazard Credit & Capital and S.S Kantilal Ishwarlal (SSKI) - to work out "a restructuring package". Godrej Soaps managing director Adi B Godrej said the three merchant bankers are working on "restructuring opportunities" for the group.

IEC Softwares profits may jump 300%: Delhi-based IT-training company IEC Softwares Ltd is expected to register over 300 per cent jump in its profit to end the fiscal with net earnings above Rs 70 lakh. The company had shown a profit of only Rs 27 lakh in the last fiscal. The turnover which was Rs 5.43 crore too is expected to touch Rs 13 crore, according to company chairman SL Gupta. The earning per share too is likely to double.

Swadeshi Mela to be inaugurated today: Despite initial hiccups, the SwadeshiJagran Manch has managed to rope in some of the biggest corporates for its hi-profile exhibition known as Swadeshi Mela which begins at Pragati Maidan on Monday. With a BJP government in power, the big-wigs who are participating to show their swadeshi streak include Reliance, Essar, ITC, Ispat, Bajaj Auto, Videocon, BPL, TVS and NEPC. The three-day mela will be inaugurated by Prime Minister Atal Behari Vajpayee on Monday.

Bankmen to go on two-day strike from Feb 25: Bank workers and officers affiliated to the United Forum of Bank Unions would go on a two-day strike from February 25 and an indefinite strike from March 17 in support of their demand for wage revision. The employees would stage dharna in all state capitals on February 16 and take out a procession to Parliament and hand over a representation to the Lok Sabha speaker on February 19, SR Sengupta, general secretary of all-India bank officers' confederation, told reporters on Sunday.

FCA increase by $350 million: India's foreigncurrency assets (FCA) increased by $350 million to $27,436 million during the week ended January 15. The increase in FCA since end-March 1998 amounts to $1,461 million, according to Reserve Bank (RBI) weekly statistical supplement. Total foreign exchange reserves as on January 15 stood at $30,458 million. Gold and special drawing rights (SDRs) remained unchanged at $3,015 million and $7million, respectively.

India contests US objection over patent ordinance: India has contended the US objections to certain provisions in the patent (amendment) ordinance providing exclusive marketing rights (EMR) to multinational pharmaceutical and agro-chemical firms, saying it could do so in the interest of public health. The Indian position was conveyed to the US when the two sides met in New Delhi recently to negotiate Washington's reservations over the EMR provisions in the ordinance, official sources said. The consultations were held just ahead of the World Trade Organisation (WTO) dispute settlement body meetingin Geneva on Monday.

HC summons files on various deals in STC case: The Delhi high court has asked CBI to place before it entire records relating to the alleged bungling by former State Trading Corporation (STC) managing director and other officials in various deals. A division bench comprising Justice YK Sabharwal and Justice KS Gupta after perusing some files and two case diaries produced by the CBI on January 14, directed the agency to place before it all the relevant files before February 17, the next date of hearing.

Strike at AIIMS today: Health services at the All-India Institute of Medical Sciences (AIIMS) in New Delhi will be severely affected on Monday with the doctors going on a mass leave demanding implementation of the Bakshi committee recommendations on pay scales. The faculty association of AIIMS had, on Friday, rejected the pay package offered by the government, saying it was an attempt to humiliate the doctors by giving them ``a watered down version of the modified Bakshicommittee recommendations''.

Green signal for Vijayawada-Secunderabad pipeline: Hindustan Petroleum Corporation's (HPCL) 223 km pipeline project from, Vijaywada to Secunderabad, has received stage one clearance from the Union ministry of petroleum and natural gas. According to a statement from HPCL, the pipeline transporting petrol, kerosene, high speed diesel and aviation turbine fuel would cater to the consumption zones of Andhra Pradesh and adjoining districts of Karnataka and Maharashtra.

PM asks Union ministers to declare assets: Prime minister Atal Behari Vajpayee has asked his ministerial colleagues to declare their assets and liabilities including those of their family members before the month end. He wrote a letter to this effect to Union council of minister.