Air Canada resumes services from Delhi: After suspending operations into India for four months, Air Canada has resumed its services to Delhi from this month and will fly out four times a week. The days of operation are Monday, Wednesday, Friday and Sunday from Delhi to Vancouver via London.There are convenient connections available to major destinations in Canada like Toronto, Montreal, Ottawa, Edmonton and Calgary, Air Canada officials said. Senior vice-president Douglas D Port said the airline is seeking arrangements with Indian Airlines, Jet Airways and Sahara Airlines for connecting places like Hyderabad and Bangalore within the country. Company general manager (India) Geoffrey F Beckett said the airline will soon launch a cost-benefit study of a direct Delhi-Vancouver 13-hour flight which was technically feasible.

Mazgaon Dock introduces 5-day week: The Mazgaon Dock Ltd management has introduced a five-day week at its defence production and supplies unit in Mumbai. The unit employs 9,000 people. Simultaneously, the company has also announced a wage hike in the region of Rs 1,200 to Rs 2,300. Each employee is expected to get arrears of around Rs 30,800. The new settlement was signed between the company and its five recognised trade unions, namely the PN Samant-led Association ofEngineering Workers, Dockyard Employees Union, Bharatiya Kamgar Karmachari Mahasang, MD Clerical, Technical & Sub-staff Association & Engineering workers union.

Bongaigaon Refinery signs pact with IOC, OIL: The Bongaigaon Refinery & Petrochemical Ltd has signed a memorandum of understanding with the Indian Oil Corporation Ltd and the Oil India Ltd for import of crude by 2001. The MoU also proposes the setting up of a joint venture company with a downstream oil major for marketing and distribution of petroleum products, the refinery chairman and managing director BK Gogoi said at the company's annual general meeting held recently. The meeting approved a 10.20 per cent dividend for the year 1997-98. It achieved a profit of Rs 67.99 crore during the year, he said.

Introduce buy-back through an ordinance, says Ficci: The Federation of Indian Chamber of Commerce and Industry (Ficci) on Friday called for allowing corporates to buy-back their shares through an ordinance and remove restriction ontheir inter-corporate investment and loans. "It is quite some time that law relating to buy-back was on cards, but so far nothing has been done in this regard," Ficci said in a statement in New Delhi. The chamber said that buy-back should be permitted for reissuance as recommended by the working group on Companies Act 1956. The group had provided for suitable safeguards regarding buy-back for treasury operations by recommending that such shares will not be issued for 24 months after the date of last buy-back and will have no voting and dividend rights till the time they are held by companies. Ficci observed that several countries allow buy-back as a treasury function where shares bought back are in effect treated as investment.