Wednesday, September 15, 1999
TotalFina, Elf merge to form $48.7 bn oil giant
TotalFina SA and Elf Aquitaine SA surprised markets by announcing a friendly merger that turns the combined concerns into the world's fourth-largest oil company worth $48.7 billion.
ADB warns of fiscal situation
Asian Development Bank (ADB) prescribed a seven per cent annual growth rate for India in the next two years but cautioned that this would not be possible without immediate implementation of second generation reforms.
HC clears Philips' sale of WB unit
A division bench of the Calcutta high court cleared the sale by Philips India Ltd of its Salt Lake factory to a nominee of Videocon International Ltd.
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