FDI proposals worth Rs 118 cr okayed
The Centre has cleared FDI proposals worth Rs 118 crore including that of GMR Vasani infrastrcuture Finance Ltd and Microsoft Corporation (India) private Ltd. Investment holding company GMR Vasani Infrastructure Finance Ltd has been allowed to hike its stake in its investment holding company to 49 per cent for which it would invest Rs 25 crore.

Task Force on HR development in IT
The Government has appointed a Task Force to suggest a long-term strategy to develop human resources in the Information Technology sector. The task forced headed by Human Resources Minister Murli Manohar Joshi has been asked to submit its report in three months based on its terms of reference. The Task Force will also comprise chief ministers of Andhra Pradesh, Karnataka, Madhya Pradesh and Uttar Pradesh.

Cadbury to gain from lower prices
Cadbury India's earnings growth in calendar 2000 will be driven by the full benefits of lower cocoa prices and sales growth, its managing director said. "We did not see the benefits (of falling cocoa prices) so much in the first-half. We are going to get the benefits now," Rajeev Bakshi said.

Escorts to acquire majority stake
To make Escorts Finance Ltd a subsidiary company, Escorts Ltd will acquire nearly 12 per cent stake in the former. The direct equity holding of EL in EFL is 38,19,700 shares constituting 18.86 per cent of the latter's equity capital.

Boeing to buy Continental Graphics
The Boeing company has announced an agreement to purchase Continental Graphics Corporation, a leading provider of customised and specialised technical information to the aviation industry. financial terms were not discussed. Privately-held Continental Graphics provides a wide range of customised information and documentation to airlines, including illustrated parts catalogs and component maintenance manuals.

Client ID to be made mandatory
Sebi will soon make it mandatory for brokers to issue client identification numbers in a bid to check manipulation in the market. "We will come up with the modalities within the next three months," Sebi chairman DR Mehta told PTI.

Telecom staff seek job security
Three telecom unions have asked the Group of Ministers on to ensure job security to staff even after converting the Department of Telecom Services into a corporation. The move to wriggle out of the commitment on job security was not acceptable, the unions said.