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Petro hike left in limbo
Buckling under pressure from the Left, the ruling United Front yet again deferred a decision on a hike in oil and petroleum products saying the issue would now be considered 10 days later. This was a clear victory of the Left which parried a determined effort by Union finance minister P Chidambaram and his petroleum counterpart T R Baalu to enforce another hike in oil products.
A Goan from Brazil was middleman in urea deal
Investigations into the urea scam have revealed that one Arnesto G Pintoo, a Goan from brazil had also allegedly received commission out of the Rs 133-crore deal. Pintoo, an earlier resident of Goa and now staying in Brazil, visited India in mid-1995.
Damage to property in quake put at Rs 131 cr
Damage to property in the devastating earthquake that hit Mahakoshal region of Madhya Pradesh on Thursday last was estimated at Rs 131 crore, according to State Legislative Affairs Minister, R P Shukla.
Taliban regime gets Pak recognition
Pakistan yesterday became the first country to accord recognition to the Taliban-led new government of the Islamic Republic of Afghanistan. Pakistani Foreign Minister Gohar Ayub Khan, while announcing the decision, said, "We feel that the new government fulfills all criteria for de jure recognition as it is now in effective control of most of the territory of Afghanistan and is representative of all ethnic groups in that country."
Normal monsoon predicted for tenth year in succession
The country is heading for the tenth normal monsoon in succession with the Indian Meteorological Department (IMD) yesterday forecasting good rainfall during 1997 due to various positive factors.
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Tisco may dump Gopalpur for cold-rolled unit, shift to Jamsh
Tata Iron and Steel Company (Tisco) may shift its cold-rolling plant to Jamshedpur if the Orissa government does not hasten infrastructure upgradation in Gopalpur. Tisco officials disclosed this during their meeting with analysts last week after the announcement of annual results for 1996-97.
Japan Airlines, All Nippon seek alliance with AI, IA
Two of Japan's major airlines, Japan Airlines (JAL) and All Nippon Airways (ANA), are seeking alliances with Indian air-carriers. Japan Airlines has shown interest in becoming the third partner in the Air India (AI)-Air France alliance formed this month, while All Nippon is looking for an agreement with Indian Airlines (IA).
CARE to kick off internal probe over CRB Caps rating
Ratings firm Credit Analysis and Research Limited (CARE) has ordered an internal probe to find out the accuracy of the financial details furnished by CRB Capital Markets. This is the first time the rating agency, which had so far justified an investible rating for CRB Caps, has done a rethink on the matter.
Petro goods price hike deferred
Under pressure from the Left parties, the United Front steering committee on Sunday virtually forced the government to defer a hike in the prices of petroleum products for another fortnight.
UTI Sec unveils Navratna Index
UTI Securities, the securities trading and investment banking arm of Unit Trust of India, plans to go global and spread its reach in domestic markets. It has launched a Navratna Index comprising eight of the nine (navratna) PSU stocks. The government is expected to shortly announce an autonomy package for the navratnas.
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