The Financial Express -- News

Sunday, December 21 1997

Balagarh power project may clear last hurdle soon; FIPB nod not needed

The RPG group promoted Balagarh power project is expected to clear the last hurdle soon. The hurdle would be overcome as a clearance from the Foreign Investment Promotion Board (FIPB) is no longer required for power projects in which the foreign stake is less than 74%.

Air India board clears fleet expansion

Air India will soon purchase four brand-new aircraft in a deal worth Rs 450 crore. The board of directors gave their approval for the plan in Mumbai on Friday. In another major decision, the board decided to revive the $2 billion Medium Capacity Long Range (MCLR) aircraft contract.

Pharmaceutical body revises ceiling price of 49 formulations

The National Pharmaceutical Pricing Authority (NPPA) has revised the ceiling prices of 49 formulations. The prices of bulk drugs, Ibuprofen and Ranitidine were earlier revised by the union government in March 31 and July 28 based on the cost studies prepared by the Bureau of Industrial Costs and Prices (BICP).

Jessop may float open tender to sell HQ building

Kelkar calls for vertical integration of oil majors