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FINANCIAL EXPRESS FRONT PAGE

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Sunday, July 11, 1999

Forex Update

Carryforward rates inch up to 16.9%
With the market ending the week with a firm undertone and revival of FII buying, badla rates inched up to an average of 16.9% against 14% in the previous week.

Markets relieved as Saturday will help avoid head-on collision
Indian capital market players can sleep peacefully (and even enjoy the odd tipple) on December 31, 1999, without worrying about the bug hitting them on the first day of the new millennium.

UTI, Morley Fund ink pact for ventures in Third World
Unit Trust of India has signed a strategic alliance agreement with the London-based Morley Fund Management for joint ventures in Third World countries.



  India may be on the brink of a gold rush
  Skindia GDR Index up 4.23% to 853.10 points



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