Sunday, December 6, 1998
FIPB clears Philip Morris, DuPont investment plans
The Foreign Investment Promotion Board (FIPB) has cleared 18 foreign direct investment (FDI) proposals worth over Rs 400 crore, including one by French multinational DuPont. DuPont holds 95% stake in Thapar DuPont, while the rest is held by Japanese conglomerate Mitsui.
Telecom chief rules out changes in Trai Act
The Telecom Regulatory Authority of India (Trai) Act, 1997, will not be amended, according to Telecom Commission chairman Anil Kumar. Kumar said the role of Trai would be strengthened in the proposed telecom policy.
Telstra pumps in fresh funds into ventures
Despite the bleak telecom scenario, Telstra Corporation of Australia has infused fresh equity into all its three Indian ventures. The three companies are Telstra India Pvt Ltd, Telstra V-Com and Modi Telstra.
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