The Indian Express -- Business

Saturday, December 27 1997

FOREX RATES INDICES STOCK

Govt to amend norms for trade with Russia

The Union government plans to modify the terms of the banking arrangement under the rupee trade with Russia to improve the presence of Indian brands in the Commonwealth of Independent States. The move will also put an end to the practice of Russian importers to route Indian exports directly to third countries at favourable terms.

Six corporates plan Rs 245 cr CP issues

Six corporates, led by Tata Finance and Madras Cements, propose to access the commercial paper (CP) market to raise Rs 245 crore. While Tata Finance will raise Rs 100 crore, Madras Cements will raise Rs 56 crore. Sun Pharmaceuticals and L&T Finance propose to raise Rs 28 crore and Rs 25 crore respectively, while Ciba Speciality Chemicals and Indo National will raise Rs 20 crore and Rs 16 crore respectively.

GIC risk cover has few takers

The corporate world has thumbed it's nose on General Insurance Company's new Industrial All Risk (IAR) Policy which was introduced in July this year. Till now only three companies have bought the policy while about another five are still under discussion. Insurance sources say that this is far short of the initial target of selling 35 policies within six to eight months of the launch.

Japanese banks shiver under ratings

Dollar uptrend against yen seen in 1998

Taiwan dollar opens firm

Japanese stocks crash

Bizbits

GIC risk cover has few takers

New Korea Inc begins taking shape

DoT to hire foreign experts for revamp

Govt to keep I-T raids in abeyance

Asian currencies hit an all time low against $

Govt to amend norms for trade with Russia

AIIMDA calls for caution in reforms