RBI tightens norms for banks' non-performing lease assets
The Reserve Bank of India (RBI) has tightened income-recognition norms for banks in cases of non-performing lease assets. The apex bank has directed banks to follow the "guidance note on accounting for leases" issued recently by the Institute of Chartered Accountants of India (ICAI).

FIPB okays first private luxury train plan
The Foreign Investment Promotion Board (FIPB) on Monday gave green signal to UK-based Great Indian Railway Co to operate the first private luxury train service in the country.

Agreeable India may push E-commerce agenda
The sudden turnaround announced by India on its long-standing opposition to keeping e-commerce free from any customs duty has boosted the prospects of a general agreement on how to conduct negotiations over this issue when it is taken up at the Millennium Round of WTO.

  Asian oil prices steady on output cut pledge
  Australian wine crush exceeds one million tonnes
  Fertiliser production up 9.6 pc in first quarter
  Asia's oil demand to grow in 1999, says Credit Suisse report
  Oil prices slip as dealers pocket profits; Opec to maintain supply curbs
  Commercial vehicle sales spurt 24% in first quarter
  Commodity Briefing
  Australian gold, nickel mining industry mood upbeat, but sponsors see hurdles
  Executive Briefing
  Bangalore reasserts IT leader status
  IT task force reports to wait till December
  Political Briefing
  BJP denies prior consultations with Samta on merger
  Bommai for President's rule in Karnataka
  Bureaucracy keen to trace source of telecom fiasco
  Jayalalitha sees PM in vortex of Rs 50,000 cr telecom scam
  Six firms bid for Navlakhi port reconstruction
  Sena-BJP alliance to field 11 independent MLAs
  No tie-up with Cong, SJP & NCP, says CPI-M