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Steel prices may see further slide in '98
The expected postponement of the budget and the delay in the government's planned expenditure owing to the general elections may result in a further decreaseb in steel prices. The government being the single largest consumer of steel in the country, any delay of its planned expenditure leads to a weakening of demand of steel.
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Ministry prescribes strong medicine, asks Air India to avert
The Union civil aviation ministry has stated that Air India may have to expand its equity base by offering shares to the public to avoid a debt trap. An official coomunique specified regarding the debt burden, revenue generation and divestment of AIs stake in Hotel Corporation of India (HCI).
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Banks to close in on credit-card defaulters
Banks which issue credit-cards will soon share information on outstandings, making it almost impossible for defaulters with one bank to get fresh credit cards from other banks. The move is expected to be put in place by the third week of March.
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Asian economy crisis dominates G-24 meet
Asia's financial meltdown and its global repercussions dominated opening talks at the three-day meeting of the Group of 24 developing countries in Caracas. A strong and well-supervised financial sector, transparent financial information, good governance, strong coordination with the private sector should a crisis strike, and better regional supervision were among the policies discussedto help avert or calm the effects of a crisis.
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