Sunday, August 16, 1998
Sanctions may hit Boeing deal
India has warned the US that denial of export import bank credit to Indian companies to buy US-built aircraft may prove to be Boeing's loss as these Indian companies may have to turn elsewhere for their needs. The country's aircraft business has already sanctioned about 30 aircraft for various companies worth $ 1.5 billion over the next two years, according to Union civil aviation minister R Ananth Kumar.
India to become IT force -- PM
Prime Minister Atal Behari Vajapyee has announced a golden jubilee education-development space satellite programme with an aim to make India a superpower in information technology. Under the programme, Indian Space Research Organisation (Isro) will launch a satellite (Insat 3-B) before August 15, 1999, which will have six separate transponders to implement the Operation Knowledge programme.
GDR index at all-time low
Foreign investors seem to be increasingly getting out of Indian shares, thereby jeopardising the prospects for some of the imminent overseas offerings. Global depository receipts (GDRs) of Indian companies listed on overseas stock exchanges had taken a heavy beating with the Skindia GDR index touching an all-time low of 558.51.
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