Forex reserves move up to $29 billion: The country's foreign currency assets increased by $493 million in the week to September 11 to $26.09 billion. The accretion in foreign currency assets resulted in the total foreign exchange reserves going up to $29.04 billion, according to RBI's weekly statistical supplement. During the week ended September 4, the central government availed of ways and means advances to the extent of Rs 5,096 crore after having brought down its dependence on the facility to zero as on August 28.Rabri moves confidence motion: The Rabri Devi government on Saturday moved a confidence motion midway through the discussion on the Vananchal Bill referred to the assembly by the president for its opinion. The motion stunned all as it marked a departure from the one-point agenda. Voting on the confidence motion will take place on Monday.
GMI to focus on high-volume cars: General Motors India will shift its long-term business focus to high-volume segment vehicles likesmall cars in view of the slump in the luxury segment. GMI's plan to introduce the Corsa range of cars in India next year is in line with this policy.
Experts rush to ONGC Hazira plant: A team of experts is rushing to ONGC's Hazira plant near Surat to carry out a massive restoration work at the connecting Hazira-Bijuapur-Jagdishpur pipeline, which supplies gas to upcountry power and fertilizer plants. Flooding has compelled ONGC to shut down the plant and the pipeline to avert disaster. The HBJ pipeline also supplies gas to GAIL.
Sharif to raise Kashmir issue at UN meet: Pakistani premier Nawaz Sharif on Saturday said he would raise the Kashmir issue during his address to the UN general assembly and also press for "substantive dialogue" on the issue at a meeting with his Indian counterpart Atal Behari Vajpayee on September 23 in New York.
DMK hints at backing Congress: In a reversal of its stand on the `third front', the DMK on Saturday decided to join the proposed front, even if itmeant extending outside support to the Congress in forming an alternative government at the centre in case the BJP-led coalition government fell.
`Consensual form of govt better': Former president R Venkataraman has favoured a consensual form of government through minimal changes in the Constitution to provide stability and accountability in the light of nine years of political instability in the country. Since 1989, he said, there was no joint responsibility of the cabinet and each constituent unit of the government insisted on its demands with a threat of disruption of the government.
UP assembly heading for a stormy session: The Uttar Pradesh Vidhan Sabha is heading for a stormy session on Monday with the battlelines clearly drawn on the contentious issues of inclusion of Udham Singh Nagar and Hardwar in the proposed Uttaranchal state.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.