Customs, excise collections up 17%
The country's customs and excise revenues grew by 17 per cent to Rs 109,756 crore (Rs 93,732) during fiscal 1999-2000. Corporate- and income-tax collections taken together have jumped by over 26 per cent.

Pharma R&D fund on anvil
Finance minister Yashwant Sinha appeared inclined to infuse fresh life into the sops-starved pharmaceutical sector, especially in the area of R&D, when he addressed over 35 CEOs of India Pharma Inc in New Delhi on Tuesday. Indications are the minister of chemicals and fertilisers Suresh P Prabhu has forwarded a proposal to set up a Pharmaceutical R&D Support Fund.

Sharif's fate to be decided today
The karachi anti-terrorism court on Thursday will issue a verdict in the trial of ousted Pakistan PM Nawaz Sharif, who could face death on charges of trying to kill general Pervez Musharraf, the army chief who ousted him. Sahrif faces charges of attempted murder, kidnapping, terrorism, and aircraft hijacking.

Microsoft case
The judge in the Microsoft antitrust case has told both sides he wants to complete the penalties phase of the case in 60 days, and has set up a meeting for 1530 GMT on Wednesday to work out details, according to a court transcript. US district judge Thomas Penfield Jackson ruled on Monday that Microsoft broke the nation's antitrust laws by abusing monopoly power and harming competitors and competition itself.

DD generates all-time high revenues
The Prasar Bharati on Wednesday said that Doordarshan had generated an all-time high revenue of Rs 610.29 crore in the past year, a chunk of which came from cricket telecast.

Centre clears Rs 2,505cr FDI proposals
The Centre on Wednesday cleared 57 foreign direct investment cases worth Rs 2,505 crore. Among the approvals, the Government allowed cellular service provider Birla AT&T to bring in Rs 1,016.75 crore additional foreign funds to merge its operations with Tata Communications.

London market opens 8 hours late
The London Stock Exchange, paralysed by its worst-ever system failure, finally opened nearly eight hours late on Wednesday. A spokesman for the exchange said the problem, which crippled the supply of prices and company information to investors, was caused by corrupt data.

HSBC India Equity closes subscription
Until it receives clarification from the Government on whether it can operate in India as a Mauritius-registered company, HSBC Asset Management Co will stop accepting new subscriptions to its India Equity Fund, a senior broker who deals for the fund said Wednesday.

RIL to consider buyback on April 12
The board of directors of Reliance Industries is meeting on April 12 to consider a share buyback proposal. Sebi regulations permit the company to deploy up to 25 per cent of its net worth for the buyback of equity shares.

-- Compiled by S Hariharan