Monday, June 29, 1998
Jardine report calls for opening up insurance
Jardine Fleming, the Hong Kong-based global investment bank, has called for the opening up of insurance, the development of long-term bond markets and improvements in the capital market and corporate governance to attract foreign direct investment in infrastructure development in India.
Special import duty boosts chemical prices
After the recent budget the overall activity in the chemical trade has picked up. In many cases prices have gone up due to imposition of special import duty as well as a depreciation of the rupee. Prices have improved mainly due to increase in the landed cost of imported material, which are expected to remain at the same level and may even improve.
Excise duty hits packet tea makers below the belt
The Union finance ministry's imposition of an eight per cent excise duty on packet teas is expected to set the local and marginal players back by around Rs 1,000-crore, fears the industry. It is estimated that almost 28-odd per cent of the local and regional players control about 200 brands in the market.
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