The Indian Express -- Business

Sunday, June 22 1997

FOREX RATES INDICES STOCK

RBI official's concern over "active hawala market"

A senior official of the Reserve Bank of India (RBI) has expressed concern over the existence of an "active hawala (illegal forex) market" despite substantial liberalisation of the external sector.

Recession, high interest dog diamond exports

The diamond industry is likely to lose its sparkle as Indian exporters are finding it difficult to make further dent in the recession-hit international diamond markets.

Glaxo earmarks Rs 400 crore for takeovers in India

Glaxo-Wellcome is looking at "suitable" acquisitions in India as part of its strategy to widen its product range and increase its marketshare. Glaxo India and Burroughs Wellcome India, have invested Rs 400 crore to play the takeover game.

GDR market remains buoyant

Ashok Hotel, VDIS and other ironies

Union Bank fares well, net up

High Court allows factory outside coastal zone

Bizbits -- Excise hike to hit cos

Share sale in 3 PSUs likely

Move to link B'lore, Coimbatore SEs hits snag

Karnataka govt builds bridges with WB

Ad Club chief

Bizbits -- Gold falls sharply

MRL net rises to Rs 102 crore

FM clears confusion on VDIS

BSE to shift 172 B2 scrips to B1 group

Credit cards may now be used to pay phone bills