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Drumbeat: Ad Buzzaar

Tuesday, August 4, 1998

Centre to divest stake in state units at market-related prices
The Centre has decided to divest its stake in state-run units at prices linked to the ruling market prices of the scrips despite the depressed markets.

Debt-burdened states come under rating watch
Credit-rating agencies have put some state governments on a rating watch. They are also monitoring their finances as most of these governments have given huge guarantees on borrowings raised through special-purpose vehicles.

RBI to unveil norms for banks to recover sticky loans
The Reserve Bank of India (RBI) is formulating guidelines for banks to settle bad accounts with companies. The guidelines will be formulated by a committee comprising general managers of RBI.

VSNL slashes Internet access rates by 10%
VSNL has slashed the Internet access charges for leased lines by 10% to 33%. Rates for the higher bandwidth of 2 mega bits per second (Mbps) leased-lines have been cut by 10%, while there has been a 33.33% cut in rates for the lower-end leased lines of 64 kilo bits per second (Kbps).

CORPORATE
Sun Pharma to maintain 29% stake in Gujarat Lyka
JK Corp to sell polyester business, induct partners in other divisions

ECONOMY
Lokpal Bill introduced in Lok Sabha
CAG may revamp audit process of state-run units

EXPRESSIONS
A private matter
Right decision

MARKETS
Sensex plunges 98 points on regional woes
US-64 garners Rs 3,105 crore in July for UTI

LEISURE
US varsity offers on-line MBA
World of opportunities in plastics at CIPET