Commodity loans to SAARC countries
The Centre, in an effort to dispose off surplus stocks of wheat in the central pool, has decided to give commodity loans to SAARC countries. It will also enter into barter trade with any country in need of foodgrain. The government has also planned to auction five million tonnes of wheat in Punjab and Haryana.

VRS for NTC mills soon
Cabinet approval is expected soon for a Rs 3,300 crore revival plan devised by the textiles ministry for the National Textile Corporation. In the pipeline was a voluntary retirement scheme based on the model adopted for mills in Gujarat and the closure of unviable units. The workers' unions had agreed to the VRS and the government will extend a loan as well as accord guarantee to the nodal agencies to fund the revival plan.

BIFR proposes to wind up six units
The Board for Industrial and Financial Reconstruction (BIFR) has proposed winding up of six ailing private sector units - Ambika Wheat Products Private Limited, Perfect Drugs Limited, Prudential Polywebs Limited, Electra India Limited, Dieles Forge Limited and Cosmos Leather Exports limited.

Adani net jumps 70% to Rs 110 cr
The Ahmedabad-based Adani Exports Ltd (AEL) has posted a 70 per cent jump in net profit in the financial year ended March 31, 2000 to about Rs 110 crore as compared to Rs 65.69 crores during the preceding year, according to AEL sources. The board of directors at its meeting here on Saturday proposed a further dividend of 5 per cent, having announced earlier an interim dividend of 25 per cent for the year.

Volvo to enter passenger segment
Volvo India Private Limited is planning to enter the passenger vehicle segment by the end of the year. "We will be introducing "intercity" long distance buses", said Volvo India's managing director Ravi Uppal. These buses will be of 280 HP engine, centrally airconditioned and conforming toEuro II emission norms. The seats will be ergonomically designed, including (chemical) toilet on board, he added.

Warner, BMG settle suit with MP3.com
MP3.com said on Friday that it has reached a settlement with Warner Music Group and BMG Entertainment, two of five record labels that sued the online-music firm for copyright infringement. The pact makes deals with the other three labels more likely, potentially representing a breakthrough in a long-running battle being fought on many fronts between the recording industry and companies offering digital music in the wildly popular MP3 format.

WorldCom/Sprint deal
The European Union's antitrust chief Mario Monti on Saturday issued another warning to US telecom giants WorldCom Inc and Sprint Corp about potential competition problems surrounding their proposed merger. The Commission launched an extended four-month probe into the $115 billion deal on February 21 and sent the companies a detailed list of its antitrust concerns on May 3.

Maxwell forays into retail business
The Maxwell group of companies is making a big leap into the retail business by setting up a string of supermarkets through out the country. The Mumbai-based group is also branching out into the leather business by launching `Bellani' brands of shoes shortly.

Badla rates touch 16%
Badla rates inched up further to 16 per cent during Saturday's carryforward session on the BSE. According to dealers, badla rates hovered between 16 per cent on the higher side and 13 per cent on the lower. Average carryforward rates were between 14 and 14.5 per cent. As call money rates were higher during last week and also the markets picked up gains, badla rates were expected to be higher against the previous week's level of 13 per cent.

Energiser to cut down on fuel costs
Unbelievable, but true. A small magnet can save some extra litres of fuel in your car and at the same time reduce pollution. And if you don't believe that, check it out with the people at Fucon Technologies. Fucon Technologies has developed an innovative magnetic fuel energiser, called Fucon, which can save fuel up to 15 per cent. And what's more, the IIT Delhi has confirmed the fuel saving in a series of tests.

Risk-free investment options
The millennium's first budget has narrowed down considerably the investment options for small investors, comprising the salaried class, senior citizens, pensioners, widows, etc. They prefer investing in schemes that are risk-free, have easy liquidity with not too long a lock-in period, and offer reasonable returns and also reduce their tax liability. What are the investment avenues available to this class of investors?