Qantas plans on Air India
Qantas Airways on Sunday said it was a technical adviser with alliance partner British Airways, to a consortium bidding for an Air India stake, but both did not plan to participate in the offer. "Neither Qantas nor British Airways currently envisage putting any of their own money into the bid, should it be successful," a Qantas spokeswoman said. "Our role is essentially to provide international airline expertise and advice to the consortium."

IOC may take over Enron's fuel facilities
In a significant move, the Indian Oil Corporation (IOC) is contemplating taking over the liquid fuel facilities built by Enron at Dabhol in Maharashtra. Top company officials told The Financial Express that IOC has already struck a deal with Enron for setting up a full-fledged product terminal at Dabhol.

Inflation moves up to 6.92 per cent
The annual inflation rate has inched up by 0.14 per cent, almost breaching the seven per cent mark, to close at 6.92 per cent, for the week ended October 28, due to costlier manufactured items. The point-to-point inflation rate, based on the WPI for all commodities rose from the previous week's level of 6.78 per cent, and 3.22 per cent a year ago.

Indian Bank VRS from November 27
Indian Bank has decided to implement its voluntary retirement scheme for a month from November 27, 2000, as part of its restructuring plan. Employees who have completed 15 years of service or have attained 40 years of age are eligible for the scheme.

PM calls for SMG meet on slowdown
In an urgent damage-control exercise to contain the economic slowdown, the Prime Minister's Strategy Management Group led by the secretary to the PMO NK Singh will be meeting to chalk out an immediate action plan.

`FMC needs Sebi-like status'
India's commodity industry has a great potential to increase its share in international trade - as long as it has the tools to perform efficiently.

However, in order to be able to enjoy the fruits of this efficiency, there is an urgent need to strengthen the commodity futures regulator Forward Markets Commission on the lines of the capital markets regulator Securities and Exchange Board of India, said Mr Lamon Rutten, senior advisor with World Bank's International Task Force on Commodity Risk Management in Developing Countries

Aggregate Q2 net of 975 firms up 16.3%
Last week, the second quarter results of 270 companies were received. The total net profit of these companies rose by 6.9 per cent to Rs 338 crore in July-September 2000 from Rs 316 crore in the corresponding period last year.

This has happened probably due to the increase in net profit witnessed in the case of Dynacons Systems, Jai Corpn, Raj Rayon and Sterlite Optical.

Sicom to form JV to develop Aquarium
The Mumbai-based development bank, State Industrial and Investment Corporation of Maharashtra (Sicom), which has recently sent ripples in the banking world by demanding nominations for its two members on the board of United Western Bank, will form a joint venture with ATD, Singapore to develop the existing Tarapore Aquarium.