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UF defers debate on Laloo's fate
In a significant development, the United Front leadership decided that Bihar affairs would not be taken up for a discussion at the Steering Committee's meeting to be held at New Delhi on Saturday next.
Sonia joins Congress, but no red carpet from Kesri
Sonia Gandhi, wife of former Prime Minister Rajiv Gandhi, has formally entered the political arena yesterday by joining the Congress party as a primary member, ending the will-she-won't-she suspense of six years. The decision is expected to alter the existing balance of political forces.
Gujral refuses to meet Kidwai
Prime Minister Inder Kumar Gujral turned down Bihar Governor A R Kidwai's request for an audience because he felt that such a meeting at this juncture would have been misinterpreted in the context of the ongoing investigations into the fodder scam.
Bofors pay-off report within few days: CBI
Final touches are being given to the Central Bureau of Investigation report on its probe into the Rs 64 crore Bofors pay-offs case and it is going to be submitted to the government within a few days, agency sources said yesterday.
Cong revises poll schedule yet again
The Congress party has announced yet another revised schedule for organisational elections including the presidential poll on June 9 after the Election Commission gave it time till June 15 as a "special case" to complete the process.
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ACC, L&T in talks for captive power tie-up
ACC, the country's largest cement company, and diversified major Larsen & Toubro's engineering division are thrashing out a proposal by which L&T will produce captive power for the former. L&T plans to invest in the proposed venture through a Special Purpose Vehicle instead of taking the investment on its own books immediately.
Powergrid seeks centre nod for infobahn plan
In its bid to cruise on the information super highway, Powergrid Corporation plans to offer long-distance telecom carrier services by leasing its vast transmission network and capacity to install fibre-optic cables. The proposal is to lease PCL's facilities to Department of Telecommunications, Videsh Sanchar Nigam Ltd, basic, cellular and cable TV operators.
Corporates fall over one another to tap ECB market
Corporates are vying with one another to tap the international debt market following the recent relaxation in norms for external commercial borrowings. The new policy, in a bid to boost corporates engaged in infrastructure projects, has removed end-use restriction on road, bridge, port and industrial park projects.
Gilts redemption to infuse Rs 4,839 cr into banks
The banking system will witness an inflow of at least Rs 4,839 crore when the government makes its semi-annual interest payment on market loans and redeems maturing bonds and treasury bills. Over Rs 700 crore liquidity will be infused into the system following redemption of the 10.50% government bonds 1997, and semi-annual interest payments on maturing bonds including 11% government bonds 2002.
Grasim Industries plans cement exports foray
The Rs 3,000-crore Grasim Industries, flagship of the AV Birla group, has decided to make a foray into cement exports by setting up the country's first export-oriented cement unit. The unit, which will be port-based, will be situated close to one of the nine upcoming minor ports in Gujarat.
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