Forex reserves up at $29.32 bn: Foreign exchange reserves rose to $29.32 billion on April 7 from $29.19 billion on April 3, the RBI said in its weekly statistical supplement on Saturday.

Outflows slow down in '97-98: Actual outflows of overseas investments by domestic corporates slowed in 1997-98 from the previous year, although approvals granted by the central bank surged, the RBI said on Saturday. Outflows for the first 11 months of 1997-98 fell to $110.2 million, compared with $214.5 million for the full year in 1996-97.

Euro Prisma, Hardsoft Solutions pact: Euro-Prisma BV of Holland, a software consultancy group, is all set to enter into a joint venture with the Bangalore-based Hardsoft Solutions Pvt Ltd to set up itssubsidiary. The company has sought approvals from the Reserve Bank of India and the Foreign Investment Promotion Board.

FACT sales at Rs 1,257 cr: In a year afflicted by chronic power and water shortages and uncertainties on the market front, the Fertilisers and Chemicals Travancore Ltd (FACT) in Kerala has made production and marketing records during 1997-98. The profit before tax for 1997-98 was Rs 56.14 crore (provisional) and the total sales turnover for the year was Rs 1,257 crore.

BYNL turnover at Rs 820 cr: Notwithstanding the recession in the domestic capital goods industry due to cheaper imports and negative growth, public sector Bharat Yantra Nigam Ltd group has posted a record sales turnover of Rs 820 crore for the financial year 1997-98.

Action against Dunlop MD sought: Congress MLA Rabin Mukherjee has urged the West Bengal government to begin proceedings against Dunlop India managing director P J Rao. He has also urged Tamil Nadu chief minister K Karunanidhi to takeover Dunlop's Ambattur unit in line with Bengal finance minister Asim Dasgupta's proposal last week. In a faxed message to Prime Minister Atal B Vajpayee he has called for an inquiry by the Central Bureau of Investigation.

MPCL plans outlay for LPG project: Mobil-Peevees Co Ltd is earmarking Rs 100 crore in the first phase of its liquefied petroleum gas operations in the south to be one of the four or five large players in the country after the expected shakeout in the parallel marketing of LPG. MPCL has taken on lease 48 acres in Calicut near the minor port Beypore.

AV Birla firm faces closure: Eastern Spinning Mills & Industries, an A V Birla group company, is on the verge of a closure as the 1400-strong workforce is not keen on increasing the productivity. The workers are following the agreement signed between them, the management and the government on June 11, 1995.

Tractor sales up: Domestic tractor sales during 1997-98 are estimated to have touched 2.47 lakh units,according to Ramesh C Jain, managing director of Eicher Tractors, a business unit of Eicher Ltd. If exports too were to be taken into account, sales may have crossed 2.5 lakh tractors.

RRBs plan stir from May 1: The United Form of Regional Rural Banks has threatened to go on a nation-wide agitation from May 1 if its demand for pay revision is not met by the government immediately. In a memorandum submitted to prime minister AB Vajpayee, the unions warned they would launch a country-wide agitation from May 1, besides observing `all-India demands day' on May 26 and a dharna on June 4 at New Delhi.

RBI to hold 3-day repo on April 20: RBI on Saturday said it will hold a seven per cent fixed-rate three-day government securities' repurchase agreement on April 20. The repurchase by the RBI will take place on April 23, it said.

Indo-Turkey railway talks: India and Turkey have held high-level discussions on intensification of cooperation in railways, revival of direct air links and alsodirect maritime links. The talks were held at Ankara during bilateral foreign office-level consultation on Thursday between a visiting Indian delegation and their Turkish counterparts.

`Reduce export credit rates': FIEO president Ramu S Deora on Saturday asked the RBI to take steps to reduce the export credit rates in the monetary policy to realise the 20 per cent growth target for 1998-99. The slack season credit policy should be reviewed against the backdrop of a stable market achieved as a result of the steps taken by the RBI in January, 1998, he said.

On private participation in aviation: Union civil aviation minister H N Ananth Kumar declared in Mysore on Saturday that his ministry would `pursue with an open mind', the question of private participation in the development of infrastructure in the aviation sector.

Bullion eases: Silver prices reacted in the Mumbai bullion market on Saturday on fresh arrivals of raw silver coupled with weak London advices. Gold eased furthermoderately on poor demand. Ready silver of .999 fineness and tenderable silver fell by Rs 15 each to settle at Rs 8,780 and Rs 8,785. Standard gold softened by Rs 5 to Rs 4,205 from Rs 4,210.

Pak response awaited: India is awaiting Pakistan's response on resumption of foreign secretary-level talks to discuss outstanding bilateral issues, prime minister AB Vajpayee said in Delhi on Saturday. "The Dhaka proposal is there and we are waiting for Pakistan's response," he said.

Breather for state traders: The Maharashtra government would not, for the time being, implement the April 3 order under which traders, instead of agriculturists, would have to bear market expenses like tolai, hamali and dalali, the director of marketing, B D Pawar, at the Mantralaya in Mumbai said recently.

DVB staff threatens strike: The Delhi Vidyut Board unions have given notice to strike work from Tuesday if authorities failed to hike salaries of employees. The Delhi high court on Friday gave three days time toDelhi administration and DVB to find solutions to grievances of employees who are seeking revision of pay scales on the basis of Justice J D Jain Commission report.

Census meet: As the countdown begins for the millennium census of India, which will be one of the biggest administrative operations ever undertaken by a government in the world, a conference of data users is being held next week to chalk out the strategy for the 2001 census.

EMS leaves assets to party: The late EMS Namboodiripad, CPI(M) leader, has bequeathed to his party all assets in his name, leaving only his five shares in the Writers Cooperative Society at Kottayam to his son. The will executed by Namboodiripad on March 28, 1994, four years before his death on March 19, this year, was publicised by the Kerala state committee on Saturday.

Slump in realty prices: Real estate prices in Bangalore have bottomed out and very soon there will be a resurgence in demand and prices, feels the Karnataka Ownership ApartmentsPromoters Association.

`Check rising edible oil prices': The government on Saturday asked edible oil traders to take measures to keep domestic prices stable, warning that otherwise it would step in to stem the rise in prices. "The government is watching the price situation on a day-to-day basis and will intervene when required."