ED to file complaints against Big Bull
In a significant development, the Enforcement Directorate (ED) has urged before a local court that it had collected ample evidence to show that the `Big Bull' Harshad Mehta, his brothers and associates had allegedly received several crores of rupees through hawala transactions and used the money in the scam.

`India can become genomics leader'
India could become world leader in functional biological genomics--Phase II of the Human Genome project--with her rich diverse ethnic race gene pool, provided the Indian science managers take up the issue seriously and works out systematically, according to geneticists at the Tata Institute of Fundamental Research.

Aggregate net of 225 firms up 14.3%
During last week, we received 225 companies' unaudited/audited yearly results. The aggregate net profit of these companies rose by 14.3 per cent to Rs 3,052 crore during 1999-2000 from the level of Rs 2,670 crore during 1998-99. On the profit front, the operating profit of the above number of companies increased by 12.2 per cent to Rs 29,098 crore during 1999-2000 from the level of Rs 25,928 crore during 1998-99.

Sri Lankan cement market
With Indian cement majors Larsen & Toubro and Gujarat Ambuja Cements (GACL) readying to battle it out for a pie of the Sri Lankan market, cement prices in the island nation have come under tremendous attack due to large-scale dumping by many transnational players. Local prices, sources said, which dipped to a record Sri Lankan Rs 200 (Indian Rs 117), has recovered last week, thanks largely to the imposition of a differential duty on imports into the country.

Videocon power project
The Industrial Development Bank of India (IDBI) has agreed in principle to replace the credit enhancement support given to the Videocon power project with a guarantee. This was decided on at a recent board meeting of the financial institution which is "working out a suitable methodology" for providing the guarantee.

Tata Engineering
Tata Engineering, which is in the process of delisting its shares from the stock exchanges of Ludhiana, Hyderabad, Uttar Pradesh, Cochin and Madhya Pradesh, has decided not to initiate negotiations with the striking labour union at its Lucknow plant. The company had declared a lockout at the plant a few months backfollowing labour unrest and clashes, and shifted production to its Jamshedpur and Pune units.