Monday, April 12, 1999
Decks cleared for transfer of RBI holdings in NHB, Nabard to Govt
The Centre has accepted the Reserve Bank of India's decision to transfer its shareholdings in the National Housing Bank (NHB) and the National Bank for Agriculture and Rural Development (Nabard) in favour of the government at par.
Ciba Specialty to merge local textile dyes, pigments wings
Swiss multinational Ciba Specialty Chemicals is merging its Indian textile dyes and pigments divisions as part of a global restructuring effort in this area. The revamp is expected to have significant implications, given that both these businesses are being handled through separate joint ventures with YN Mafatlal group company, IDI.
VSNL to hike stake in Inmarsat
Videsh Sanchar Nigam Ltd is set to hike its equity stake in the international maritime satellite organisation (Inmarsat) substantially. This follows the Cabinet's approval of the transfer of VSNL shares to Inmarsat Holding Plc.
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