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Gujral bid to push Laloo issue under carpet may backfire
Prime Minister Inder Kumar Gujral cancelled his trip to Malaysia and Singapore in view of the political crisis within the United Front and also to finalise a candidate for the post of Vice President.
Gupta keeps options open
The Sena-BJP government came under the lens after Union home minister Indrajit Gupta flew to Mumbai on Tuesday, to assess the law and order situation in the wake of the desecration riots and subsequent attack on senior Congress leaders.
Govt pulled up in Cong foreign donations case
Pulling up the Additional Solicitor General about alleged foreign donations to the Congress, the Delhi High Court has directed the Government to file an affidavit to this regard. The All India Congress Committee was asked to file a counter-affidavit.
Mulayam's Russia visit off
Defence Minister Mulayam Singh Yadav, who was scheduled to leave for Russia on Tuesday, had to cancel his visit suddenly as there was nobody of an appropriate ministerial rank to receive him there.
Left, DMK stand-off unlikely to last long
The latest stand-off between the DMK and the Left parties is only the latest in a long series of skirmishes the two sides have kept up over the years. And peace, even if achieved this time, is not likely to last.
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Tata Sons declares 1:2 bonus, hikes dividend
Tata Sons Limited (TSL), the holding company of the Tata group, is making a 1:2 bonus issue of equity shares. The privately held company will issue up to 89,810.50 ordinary shares having a face value of Rs 1,000 each by capitalising up to Rs 8.98 crore from the share premium account.
ITC to raise $100m via ECB to fund expansion
ITC Ltd has decided to go in for external commercial borrowings worth about $100 million (Rs 350 crore) in tranches to fund the expansion of its cigarettes and hotels businesses involving an initial investment of Rs 1,900 crore.
Reliance set to mop up 100 mn pounds through sterling bonds offer
Reliance Industries is launching the first-ever sterling bond offering by an Indian corporate. The petrochem giant is planning to raise a -- 100-million, 10-year facility in the UK market. The lead mangers to the issue are Hongkong and Shanghai Banking Corporation (HSBC), Merill Lynch and United Bank of Switzerland (UBS).
Central bank intervention may lead to spurt in money supply
The Reserve Bank of India intervened in the forex market yesterday as the rupee inched up to 35.6850 - its eight-month high. It has also adopted a passive stance during the conduct of its open market operations (OMO) in the money market in a bid to trigger a surge in the money supply. The apex bank is mopping up dollars from the foreign exchange markets to keep the rupee from appreciating.
Rs 400-cr duty evasion racket by office-furniture makers busted
The excise department has unearthed a major racket involving excise duty evasion to the tune of over Rs 400 crore by manufacturers and suppliers of office furniture and furnishers to various business establishments, including government undertakings.
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