Norms for car imports rationalised
The Government has rationalised the procedure for import of passenger cars/jeeps/multi-utility vehicles by allowing the facility to eight categories of persons/entities from April 1 this year. No licence will be required, but imports will attract full customs duties, and there will be no foreign exchange outgo directly or indirectly, says a DGFT notice.

Life bans for match-fixing
Life bans for players involved in match-fixing were introduced with immediate effect on Wednesday by an emergency meeting of the International Cricket Council. The series of measures include life bans for players who fail to perform on their merits in an international match due to a betting arrangement or encourage another player to perform below his usual standard.

Scotland Yard team in India
A two-member team from the Scotland Yard has arrived in the capital and held talks with top officials of the CBI and Delhi Police on Wednesday on the cricket match-fixing and betting case in which South Africa's Hansie Cronje and a London-based NRI are among the suspects. The Scotland Yard Team is likely to be in the capital forthree to four days.

World's worst enemies of press
The Committee to Protect Journalists advocacy group on Wednesday named its annual 10 worst enemies of the press, including repeat offenders in the leaders of Cuba, China, Tunisia, Yugoslavia, Peru, and Malaysia. The CPJ said Sankoh, leader of Sierra Leone's Revolutionary United Front was the worst offender. Iran's supreme leader Ayatollah Ali Khamenei was No 2 on the list.

BPL home appliances business
The Nambiars-controlled BPL has merged its home appliances business with the $21-billion Sanyo. Sanyo will now hold 14 per cent equity in the new entity -- BPL Sanyo Utilities & Appliances Ltd -- which has an equity base of Rs 32 crore.

Godrej Soaps back in black
Godrej Soaps is back in the black with a net profit of Rs 60.99 crore in the year ended March 31, 2000, against a loss of Rs 29.93 crore last year.

L&T to float new company
Engineering major Larsen & Toubro is floating a new company to focus on the capital market business opportunities. L&T will transfer its structured finance business to the new entity, which will function as a subsidiary of L&T Finance.

DCA modifies notifications on Nidhis
The Department of Company Affairs has modified its November 1, 1999, directions issued to the Nidhi, or mutual fund companies, following representation from several firms and chambers. Under the revised guidelines, Nidhis with deposits of Rs 50 crore and above shall be allowed incremental deposits of 2 per cent of the deposit as on date of the last balance sheet for the next 10 years.

Cinevista Communications IPO
Cinevista Communications Ltd has been listed on the bourses at a 33 per cent discount to its offer price of Rs 300. The stock debuted at Rs 200, slipped to a low of Rs 136, touched a high of Rs 329, and closed the day at Rs 300.

Alliance MF picks up stake in IT firms
Alliance Capial Mutual Fund through its different schemes has invested almost Rs 25.6 crore in unlisted securities of companies, mainly from the information technology and media sectors.

Succession battle at LIC
Even as the state-owned Life Insurance Corporation is entering a new era of competition, the battle for succession is on in the inner corridors of the Rs 1.5 lakh-crore institution. The frontrunners in the whole race are two seniormost officials of the institution: executive director PC Gupta and executive director PS Pritam.

-- Compiled by S Hariharan