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Drumbeat: Ad Buzzaar

Economy

Monday, May 18, 1998

	Ministry for state-level bodies to rid export woes The Union commerce ministry has asked the states to create a central coordinating agency to tackle various problems of exporters at the state level. The ministry also plans to set up green channels at various locations like ports, airports and national highways in the states for faster transportation of exportable goods.		Mahathir hits out at IMF for Jakarta unrest Unrest in Indonesia has given Malaysia's outspoken prime minister, Mahathir Mohamad, fresh ammunition for blasting the International Monetary Fund. Mahathir all but blamed the IMF for provoking Indonesian riots with its demand for a reduction of subsidies as part of an international rescue package.
	Banks see big lucre in infrastructure lending Banks, faced with slow credit offtake and high liquidity, are venturing into long term lending to profit from an expected surge in infrastructure projects coming to the market for funds.		Operational strategies kept N-plans a secret The Department of Atomic Energy (DAE) and Defence Research and Development Organisation (DRDO) had devised operational strategies to keep it away from the gauge of any discernible satellite and or any espionage activity to shroud the Shakti-98 nuclear campaign.

Reserve Bank likely to trim cash reserve ratio to ease liquidity
The Reserve Bank of India is likely to cut the banks' cash reserve ratio (CRR) soon in a bid to infuse liquidity into the system. As a first tell-tale sign of liquidity tightening, there was no subscription to the 6% fixed rate repo offer on Saturday.

"Country prepared to explode more N-devices"
Atomic Energy Commission chairman R Chidambaram said that India will explode more nuclear devices to hone the weaponry it has developed. The tests will be for the low-yield sub-critical experiments. The announcement assumes significance as it points to the country's continued efforts at maximising the weapons capability and effect deadly but "controlled damage" at selected enemy targets.

Maharashtra headed towards debt trap
Text of statement by Chidambaram and Abdul Kalam on nuclear tests
"Command, control system needs consolidation"
Mumbai Port Trust stir called off
PM grants succour for rubber-growers
Bank of England offers "comfort line"; American banks divided on sanctions
Oman missive seeks speedy Gujarat clearance for Bina refinery link
Manch wants curbs on US, Japanese firms
Centre unveils sops to drum up support for fiat
Foreign firms allowed 74% in highway plans
State-run banks to prepare report on sanctions
Centre may allow banks to float tax-free core bonds
Financial Briefing
Rupee may stabilise below 41, says study
Retirement age
Argyle mine output touches record high
Textile exports post marginal increase
Policy makes spinning units unviable
Cellular operators' body allays fears on revenue loss
Cotton industry
Steel companies in export-or-perish mode
Domestic floriculture yet to blossom
China seeks to diversify FDI
New eucalyptus clone to solve pulp sector woes
Castro's concern over EU-US deal
Truck freight rates likely to firm up
Riots likely to hasten Suharto's exit
World Briefing
Food sector turnover to top $140 bn by 2005
Gifts by foreigners to resident Indians not liable to tax
Between DoT and the deep sea of red ink