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Drumbeat: Ad Buzzaar

Monday, May 18, 1998

	Bank of England offers "comfort line"; American banks divided on sanctions The Bank of England has offered a line of "comfort" to Indian banks. It has assured state-run banks with overseas branches that it will stand by them in case American banks withdraw money lines to them. In essence, British banks will come to the rescue of Indian bank branches operating abroad in case Yankee banks stop short-term facilities, triggering a liquidity crisis.		Lodha & Co mum on Dunlop claim over sick-firm status
	Centre may allow banks to float tax-free core bonds The Centre is likely to allow banks to issue tax-free infrastructure bonds in the budget. This is one among a string of measures that the government is contemplating to counter the expected slowdown in infrastructure funding from abroad following the sanctions imposed by US and Japan.		Oman missive seeks speedy Gujarat clearance for Bina refinery link The Sultanate of Oman has written to the Gujarat government seeking speedy clearance of the proposal to install a crucial link to the Bina refinery in Madhya Pradesh off the Vadinar coast. The link is commissioned jointly by the Oman Oil company and Bharat Petroleum Corporation.

Centre unveils sops to drum up support for fiat
The Centre has announced Rs 200 crore worth of concessions a year to state governments in a bid to ensure the acceptance of the controversial Power Tariff Regulation Ordinance. States notifying the State Electricity Regulation Commission (SERC) will be eligible for central loans at cheaper rates, while the mandatory 3% rate of return norm for electricity boards is expected to be waived.

Manch wants curbs on US, Japanese firms
Swadeshi Jagran Manch, a key constituent of BJP's parent body Rashtriya Swayamsevak Sangh (RSS), wants the Vajpayee government to restrict business operations of multinational corporations from the US, Japan, Germany and other countries which have imposed economic sanctions on India.

CORPORATE
Colour-Chem pumps Rs 6 cr into Raigad unit
Atul strikes pact with Sumitomo arm, UK firm for dyes supply to Europe

ECONOMY
Ministry for state-level bodies to rid export woes
"Country prepared to explode more N-devices"

EXPRESSIONS
Tackling sanctions
Money for movies

MARKETS
Coffee Board to assist Tripura project
Venture-capital funding for agro business mooted

LEISURE
From sunrise to sunset: The four stages of an industry
Neemrana & Kesroli beckon executives for business and for pleasure