Firms may duck IBP divestment issue
The empowered Committee of Secretaries will consider divestment proposals for 14 PSUs including those of MMTC, STC and SCI, at its meeting on July 5, but is likely to leave the decision on IBP to the Cabinet Committee on Disinvestment.

Software exports to touch $50b
The annual Indian software exports is all set to touch the $50 billion-mark by 2002. Nasscom predicts that with the rise in velocity of business, software exports during 2000-2001 are expected to grow unabated and can gross $6.3 billion during the next year.

Uplinking rights for electronic media
Indian-owned television news agencies are expected to be given satellite uplinking rights. The five-member group of ministers has decided to seek the approval of the Union cabinet to give the uplinking rights. Information and broadcasting ministry sources said that the uplinking would be through VSNL.

I-T returns on the Net soon
Income-tax assessees will have reason to feel happy in future, with the Union finance ministry planning to allow filing of tax returns through the Internet. Union minister of state for finance Dhananjaya kumar told newsmen in Bangalore on Monday that online filing of applications would be allowed from the next assessment year.

Lyka Labs, Russian firm ink pact
The Mumbai-based Lyka Laboratories has forged a strategic marketing alliance with Larafarm of Russia for a basket of eight to 10 products. Larafarm, with a turnover of around $12 million, is among the largest distributors in the Russian market.

Auto sales dip
The passenger car industry witnessed a downtrend in June with all major companies registering a decline in sales due to implementation of uniform sales tax. In June, the industry saw a fall of approximately 32 per cent against the last two months and around 10 per cent drop over the same period in June 1999.

Citibank extends Suvidha
Citibank on Monday took `convenience banking' to the common man with the national roll-out of `Citibank Suvidha.' On offer are 24-hour savings bank account facility with a minimum balance of Rs 1,000, account access via telephone, ATMs, debit cards and `CitiDirect Internet Banking'.

Sensex jumps 96 points
The markets remained strong throughout Monday, mainly on the back of a strong closing on the Nasdaq on Friday. Additionally, Monday being the first day of trading on the new account on the BSE, there was fund-based as well as speculative buying in most of the pivotals.