The Indian Express The Financial Express Latest News Elections '98 Express Investment Week Market Indicators Screen Express Computers Travel & Tourism Advertisers Forum Information Technology Drumbeat: Ad Buzzaar Astrosurf Eco-India Career India Business Forum Match Maker Express Properties

Corporate Economy Expressions Markets Leisure 06 March 1998   Suzuki extends olive branch to centre on Maruti imbroglio Suzuki directors Y Saito and J Sugimori met the heavy industries secretary P Shankar on Thursday and extended an olive branch for settling the acrimony with the government outside the International Council of Arbitration. This was their third meeting with Shankar in the last two months.   Bank of India to lose BSE's sole clearing-bank status Bank of India (BoI) is set to lose its lucrative business as the sole clearing bank of the Bombay Stock Exchange (BSE). The BSE has decided to induct two other banks as additional clearing banks. BSE is reportedly expected to select the two banks in about a month. Sterlite may up ante,FIs watch for best exit Sterlite Industries is likely to revise upward its Rs 90 per share bid for 20 per cent of Indian Aluminium's stake, and financial institutions appear to be waiting to see whether its bidding match with Canadian major Alcan, which has already made a counter-offer at Rs 105 per share, ups the stakes. Raasi's counter-offer to ICL bid likely The much-awaited counter offer from Raasi group did not materialise yesterday, despite the prolonged board meeting that stretched till the evening. The Raasi Cement board met yesterday, for the first time following the open offer from the Chennai-based India Cements.   Congress, Front remain ambivalent; Naidu still keeps BJP on tenterhooks Uncertainty persisted over formation of the new government with Congress and the United Front dithering on the issue of staking a formal claim and the BJP anxiously waiting for Chandrababu Naidu to make his position clear The action is likely to gain some momentum on Friday with BJP convening a meeting with all its allies for preparation of a national agenda and the United Front core committee deciding to meet to take stock of the situation. Monsanto to spin off local chemicals unit The $10-billion US multinational Monsanto is planning to spin off its local industrial-chemicals business into a separate company, Solutia, as part of a restructuring effort. The Monsanto group is targeting a turnover of about Rs 500 crore in the next five to seven years in the country.   CORPORATE M&M to cut Voyager price by Rs 40,000 MSEB to form joint venture for expanding Paras plant capacity ECONOMY Manohar Joshi may reshuffle cabinet before March 16 Indonesia to back reforms process EXPRESSIONS St George vs MNCs Cartel power MARKETS RBI takes steps to clear BSE's application for SGL Wellington seeks FIPB nod to pump in fresh funds LEISURE Training providers caught up in financial fraud US charges 14 with Internet gambling alt="Bottom banner spot" border="0">