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Corporate Economy Expressions Markets Leisure 29 January 1998   Reserve Bank may relax norms for hire-purchase companies The Reserve Bank of India (RBI) might relax some of the norms under the new regulatory framework for equipment-leasing and hire-purchase firms if they face "genuine difficulties". The central bank indicated this at a meeting with representatives of various hire-purchase and leasing companies held on Tuesday.   IDBI may soon recall loans to Orkay Mills IDBI has decided to take a tough stand against the Kapal Mehra-controlled Orkay Mills, with the cash-strapped JVG group stalling its much-hyped takeover of Orkay's partially-oriented yarn plant (POY) at Patalganga in Maharashtra. It is considering issuing a notice to Orkay recalling outstanding loans worth Rs 40 crore. Rhone Poulenc to consolidate its operations with Rorer stake buyout French multinational Rhone Poulenc's successful buyout of the minority shareholding in Rhone Poulenc Rorer will see the consolidation of the group's pharmaceutical operations under a single life sciences entity globally. The move would mean that Rhone Poulenc Rorer's 51% holding in Rhone Poulenc Rorer India and 40% stake in Rhone Poulenc India would now be indirectly held by Rhone Poulenc, France. BNP of France to acquire core of defunct Peregrine empire The French Banque Nationale de Paris (BNP) is to sweep up the core of the defunct Peregrine empire, buying for an undisclosed sum its Hong Kong, China and Taiwan operations. The move follows BNP's takeover in late 1996 of PrimeEast Capital Group, a Singapore-based investment house with strong contacts in the major Southeast Asian countries.   Raytheon draws fresh plans for the country The US-based Raytheon Company seems to be unperturbed with the ongoing trouble over its proposed Bangalore airport project with the Tatas. Still optimistic about the project's fate, it has worked out new plans for India, which includes undertaking development work at the Cochin airport and modernising air-traffic control (ATC) systems at the Calcutta and Chennai airports. Tisco begins groundwork for newcold-rolling mill in Jamshedpur Tata Iron & Steel Co, after almost a year's delay, has finally begun groundwork for a new 1.2 million tonne cold rolling mill in Jamshedpur, Bihar, through the relocation of an existing waste recycling plant. The mill is scheduled to begin commercial production in September, 2000, a year after it had proposed to get a similar mill at Gopalpur going.     RBI puts lid on Catholic Syrian impasse; spikes share transfer   Chakan Oil sets up Rs 2.5-crore packaging unit   Persistent Systems to focus on high-end software boutique   ICI yet to respond to Asian Paints offer to buy 9.1% stake   Ambani seeks PTA case summons withdrawal   "Microsoft has no reason to remove Lessig"   GMIL may steer dealers into used-car business   Procter & Gamble net up 11%   State Bank to under perform, says UBS report   Hi-tech highway loses its sheen   Total reports record profit in 1997   Big Three face struggle to repeat '97 results   SBI MF to unveil assured-return monthly income fund   Corporate Briefing   ANZ to earmark Rs 88 crore for update plan   State Bank targets 6m card-holders in 2 years   ANZ to recast credit-card operations   CNBC Asia Business News to hit TV screen soon   GE Capital shelves plan for subsidiaries   World Briefing   VSNL seeks Waterhouse counsel on subsidiary   Peugeot offers diesel engine for Esteem