Sunday, August 30, 1998
Centre to use RIB proceeds to fund core sector projects
The Union finance minister Yashwant Sinha said that the central government, in a bid to boost the capital markets, plans to utilise the augmented funds from the Resurgent India Bonds (RIB) for the purpose. He further maintained that through these bonds State Bank of India has generated about $4billion within 14 working days.
Tata airline project to stay in hangar for 6 weeks
The Tata airline porject received a severe jolt once again when the Union civil aviation ministry prevailed upon the Foreign Investment Promotion Board (FIPB) to defer a decision on Tata airlines' proposal for a period of six weeks.
FIPB clears Rs 300-crore investment; BNP gets nod
The Foreign Investment Promotion Board (FIPB) has reportedly cleared the applications of Banque Nationale de Paris, Ispat Industries, ABN Amro and Otto Burlington among others involving foreign equity of around Rs 300 crore.
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