FIPB defers Tata Airline plan, seeks clarification on FII equity status
The Foreign Investment Promotion Board (FIPB) on Saturday deferred the Rs 1,475-crore Tata Airline proposal. The board has given the civil aviation ministry four weeks' time to seek clarification from the Tatas on whether their domestic airline project conforms to the new civil aviation policy guidelines. Further, the Tatas may have to clarify that foreign airlines do not have shareholding in the foreign institutional investors (FIIs) which are to pick up 40% stake in the Tata Airline project.

RBI cuts repo rate by 100 basis points to 5%
The Reserve Bank of India on Saturday cut the repo rate by 100 basis points to 5% sending a strong signal that it wants interest rates to head southwards. The cut in the repo rate is in conformity with the RBI stance that the system is flush with liquidity and there is no pressure on short-term interest rates. This is the second instance of a repo rate cut since the announcement of the monetary and credit policy for the first half of 1998-99.

Power Finance's $100m foreign currency loan sails through
The Power Finance Corporation's (PFC) seven-year $100-million foreign currency loan priced at 115 basis points over the London inter-bank offered rate (Libor) has sailed through. The success of the syndicated deal is of immense significance in the context of stormy overseas loan markets, recent US sanctions and a falling rupee.

CORPORATE
DLF Power's $11-million private placement plan gets FIPB nod
Colgate, HLL launch another ad war

ECONOMY
"G-8 plans to rubber stamp US policy on India N-tests"
Govt to hold talks with EU on steel subsidy issue this month

EXPRESSIONS
The significance of Jalan's panache
Making a global mark with barcoding

MARKETS
Badla rates stabilise at 18%
GDR Skindia Index steady

LEISURE
"India Inc has a great positioning opportunity"
Junk dealers struggling to keep business alive