Zen sales zoom: Domestic sales of the Zen touched a new high in May this year to reach 7,523 units as against the previous high of 6,841 units in July, 1997. Sales of Zen in May this year increased by 10 per cent over the previous high in July 1997, by 67 per cent over April 1998 sales and by 53 per cent over May 1997, according to a company press release.

NTC likely to record loss of Rs 685 crore: The NTC is expected to register a net lossof Rs 685.56 crore in 1997-98, textiles minister Kashiram Rana said in Delhi on Wednesday. In a written reply to the Rajya Sabha, he said the government was considering a revised turnaround strategy for the viable mills of the corporation, taking into account the BIFR norm of networth of these mills turning positive within the prescribed period. On modernisation of the textile industry, the minister said technological upgradation was needed mainly in the weaving, processing and handloom sectors.

Budgetary aid to MECL "inadequate": The loss-making Mineral Exploration Corporation of India has been allocated about Rs 10 crore in the 1998-99 Union Budget, far short of the figure recommended by the expert committee set up for its revival. Although, the PSU has been provided with higher promotional funding to the tune of Rs 6.25 crore in this year's budget as against Rs 2.20 crore (revised estimates) in 1997-98, it is less than the Rs 15 crore figure recommended by the committee.

Revival plans forailing VSP: BJP Andhra Pradesh unit vice-president PV Chalapathi Rao said on Wednesday that prime minister AB Vajpayee had given assurance to save the ailing Visakhapatnam Steel Plant with a revival package along with an expansion of the steel-melting shop with Rs 11,000 crore as it has a production capacity of up to 10 million tonnes. Rao said the VSP needed a permanent solution to come out of the present crisis though it was sanctioned a temporary relief of Rs 1,300 crore.

Menezes no more: Vice-chairman of the Cosme Matias group of companies David Menezes passed away on Tuesday. The CMM group of companies manufactures a number of consumer products which include the Old Spice and Blue Stratos range of men's toiletries, Handyplast first-aid dressings and Jordan toothbrushes. A professional pharmacist, Menezes helped in setting up Goa's first three pharmaceutical plants in Ponda.

Becton Dickinson to set up unit: Becton Dickinson India is investing $20 million in setting up a manufacturingfacility for IV catheter in the country. The facility would be having an installed capacity of approximately 60 million units and would commence commercial production in one year's time at the Bawal unit shortly. With the opening up of the facility in the country, the company would be supplying catheters at affordable prices to the domestic consumers, the company claimed. Catheters have been added in the product range of Becton Dickinson following its acquisition of medical devices division of the Ohmeda from the BOC group for approximately $452 million.

AI hikes flight frequency: Air-India has increased its flights to Chicago to five per week with the recent addition of two flights. While the former three services will continue to be operated via London, new flights are routed via Franfurt. The enhancement of services will offer 834 more seats on the India-USA sector. The airline will now have 12 flights per week to the US.

Checking pseudo trading firms: The Central Board of Excise andCustoms will take steps to curb pseudo trading companies from getting countervailing duty exemptions, revenue secretary NK Singh said in Delhi on Wednesday. "The CBEC is evolving measures to ensure that only genuine trading will enjoy the exemption of countervailing duty and pseudo trading firms will not be allowed the exemptions," Singh said at a seminar on the budget.