10 January 1998
As a New Year Gift to our Loyal readers we present the new look NETEXPRESS Site. I'll quit for Sonia: Kesri The Congress leadership tussle has now taken a new twist. Party president Sitaram Kesri has offered to quit his post in favour of Sonia Gandhi. He called Sonia the "supreme leader" of the party, adding that he had the utmost respect for Sonia.	BJP emerges frontrunner, UF "okay", Congress a "no-no", says industry If the Indian business formed the electorate and if the elections were held today, Atal Behari Vajpayee would be prime minister for the second time. In a snap poll conducted by The Financial Express moments after the three major political alignments had stated their economic agenda, captains of the Indian industry gathered at the CII's partnership summit voted overwhelmingly in favour of the BJP. RBI pumps in $200 million to cool forwards The six-month (annualised) premia zoomed to 15%, prompting Reserve Bank of India's (RBI's) aggressive intervention on Friday. The RBI conducted swaps of $200 million bringing the six-month forward premia down to 10.95 per cent -- below yesterday's close of 12.25 per cent. After opening at 39.68/72, the rupee weakened to 39.74/76 during the day.
WEEKLY SNAPSHOTS Welcome to a relaunched Screen! As part of our New Year gifts to our readers, we present this brand new format for the ever-popular Bollywood mag Screen. Check it out and let us know what you think. Happy surfing! Election debacle -- Will it affect the economic agenda? The primary concern of most citizens in the forthcoming elections will be the issue of stability. But there is another issue that will soon become far more critical — how should India pursue the policies relating to economic liberalisation and globalisation of its economy.   TOP STORIES FOR JAN 10 IOC lines up $650m loans to tide over crisis SEBI committee moots status quo in structure of mutual funds Navratna boards' restructuring likely to be completed this month Laloo may not throw hat in the ring "Priceless" artifacts stolen from Rashtrapati Bhavan museum	Web Posted at 07:38:56 IST POLITICS BSP not to field candidate against PM in Jalandhar: Kanshiram BSP chief Kanshiram announced that the BSP would field about 250 candidates all over the country but would not field any candidate against the PM in Jalandhar constituency. FINANCE Natural gas prices increased GAIL has increased natural gas prices for the first quarter of 1998 from 9 to 11 per cent with effect from January 1. Asia currency in tense vigil for Indonesia Rumours that Indonesia was on the verge of declaring a debt moratorium resulted in subdued trading in Asia. India rules out devaluation of rupee Chidambaram dismisses any competitive devaluation of the rupee to make up for the loss arising from the sharp fall in Asian currencies Send a card