Industrial output up 9.4% in January
Powered by a double digit growth in the crucial manufacturing sector, the industry recorded an impressive growth rate of 9.4 per cent in January 2000 as against 5.2 per cent in the same period last year.

Airlines bag nod to operate more flights
In the wake of recent cases of large-scale off-loading of passengers from international flights, Government in a major decision on Friday gave standing clearance to all airlines, including foreign ones, to operate additional flights or bring in larger aircraft on existing routes till March-end to clear additional passenger rush.

IOC divestment shelved
The Government has decided to shelve the proposed disinvestment of 10 per cent of its equity in the blue chip Indian Oil Corporation owing to adverse market conditions.

Nitish Kumar resigns
Bihar chief minister Nitish Kumar on Friday announced the resignation of his ministry without seeking a vote of confidence, earlier moved by him in the state assembly. Replying to the debate on the motion, Kumar said he did not enjoy majority and he would be proceeding to Raj Bhavan to tender the resignation.

GM India eyes small car market
General Motors India is looking at the small car market in India and two high-level global task teams from its Detroit headquarters recently visited the country to study it.

Rhone-Poulenc dividend
The board of Rhone Poulenc India has declared an interim dividend of 285 per cent per ordinary share of Rs 10 each for 1999-2000. HL Malhotra passes awayMalhotra group founder HL Malhotra expired on Thursday in London. Popularly known as the `Blade King' he initiated business and commercial activities from a very young age.

Padmalaya Telefilms IPO
The Hyderabad-based Padmalaya Telefilms is coming out with a Rs 22 crore IPO. The company is offering 22 lakh shares of Rs 10 each at a premium of Rs 90.

Pepsi clarifies
Pepsi Foods has denied a story published in The Financial Express yesterday suggesting that the company may pull out of the state. A company statement says: "We strongly deny ever making the statement to your correspondent or to the concerned authorities that Pepsi will pull out of Maharashtra. The issue of extremely high level of sales tax at 23 per cent on aerated waters affects all soft drink manufacturers." The Financial Express notes the Pepsi denial but would like to affirm that Pepsi officials did inform the state government that they would have to consider alternate locations for its bottling plant if the sales tax rates stayed high.

-- Editor