Saturday, September 12, 1998
Wall Street, Asian markets dive again
Asian markets buckled Friday under the weight of fresh falls on world markets, unsettled by fears about US President Bill Clinton's future. Hong Kong suffered a double-whammy of Wall Street losses and home-grown price cuts on flats by several property developers.
Ford signs MoU with DGFT
Mahindra Ford India Ltd (MFIL) signed a memorandum of understanding (MoU) with the Directorate General of Foreign Trade (DGFT) on Thursday as per the new automobile policy for its Fiesta project coming up near Chennai. This is the fifth joint venture under the new automobile policy to be cleared.
IDBI floats Rs 1,500 crore Flexibond issue
Industrial Development Bank of India (IDBI), the largest financial institution with an asset base of over Rs 59,957 crore, has launched the fourth series of Flexibonds to raise Rs 1,500 crore from the capital market. Slated to open on September 21, the size of the issue is Rs 750 crore with an option to retain an additional Rs 750 crore.
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