The Financial Express -- Economy

Monday, November 3 1997

Surface transport ministry asks shipowners to dilute holding

The Union ministry of surface transport has asked private-sector shipowners to dilute their promoters' holdings in their companies. The ministry feels this is one of the ways to ensure shipowners' accountability to their investors. Apart from the state-owned Shipping Corporation of India (SCI), there are four major players in the private sector, Great Eastern Shipping owned by the GE Shipping group, Varun Shipping owned by the Khataus, Essar Shipping belonging to the Ruias and Scindia Steam Navigation company.

Software firms see red over US move to amend immigration act

The domestic software industry has expressed serious concern over a bill in the US congress which, if enacted, will adversely affect the country's exports there. The bill, seeking to amend the Immigration and Nationality Act of the United States, will increase the financial and administrative costs of hiring Indian software professionals, according to the National Association of Software and Service Companies (Nasscom).

Urea manufacturers gear up to dilute impact of subsidy cut

Domestic urea manufacturers which have been affected by the government's recent notification of trimming the subsidy level on the basis of the retention price and the plant capacities, have chalked out three options to dilute the impact. The companies are likely to advance the date of their annual shut down (which is generally taken in April) by a few weeks, as one of the options insulating them from the impact as the new notification is effective for six months ending March 30, 1998.

Fuel-supply pact likely to be made more flexible

Reserve Bank rejects Tarapore panel advice on higher capital

Are your assets in safe hands?

FIs grow wary of naphtha projects

Surface transport ministry asks shipowners to dilute holding

Software firms see red over US move to amend immigration act

Tata-Raytheon airport proposal may get Cabinet approval

Centre not to impose 5% cut in plan assistance

Urea manufacturers gear up to dilute impact of subsidy cut

Banks told to streamline funding of SSIs

Gold price crash puts private banks in a spot

Draft income-tax bill calls for scrapping tax sops

Corporate Briefing -- Cabinet approves IBP domestic float

Financial Briefing -- Banks asked to release forex

The Index -- Balrampur Chini shows excellent H1 results