Sebi charges ABS Plastics promoter with insider trading in takeover by Bayer
Sebi has indicted ABS Industries managing director Rakesh Agarwal for insider trading in takeover with Bayer. This is the second case after Hindustan Lever in which the regulator has completed investigations and got round to initiating preliminary action.

RBI sends team for talks as FSA sticks to its stand
The Reserve Bank of India (RBI) has sent a high-level team, led by deputy governor SP Talwar, to London to discuss the contentious issue of branch closure in the UK with the FSA brass.

Essar lobbies with ministry as FIs stick to guns
The finance ministry has informally asked financial institutions to bail out Essar Steel's $250 million floating rate notes (FRN) due for redemption on July 20 in case a rollover does not materialise.

CORPORATE
IDBI charts out revival plan for Gujarat Guardian
EIH set to float car rental venture with with Avis Europe

ECONOMY
CII report paints rosy FDI picture as inflows mount to $2.38 bn in Jan-Mar
IT industry disappointed with MoF directive on Y2K

EXPRESSIONS
Inflation of the US `bubble' continues
Infrastructure-financing will spur economic growth

MARKETS
Market players keep their fingers crossed
Outlook for SBI, Reliance improves

LEISURE
US ads reveal hints of an out-and-out appeal to gays
Net banking has become a global way of life