| |
Centre targets $5 bn FDI
The Union government would be targeting a foreign investment inflow of $5 billion in 1998 too, according to Union industry minister Murasoli Maran. Maran further added that this target should be increased to $10 billion in 1999. He stated that foreign investment was welcome as it brought advanced technology and capital in its wake and also provided more job opportunities.
 |
|
Rupiah crumbles, Asia fragile
Asia-Pacific stock markets plunged further yesterday on reports of the free fall of the Indonesian rupiah. Stock indices in Tokyo, Hong Kong, Singapore, Kuala Lumpur, Sydney, Bangkok, Jakarta, Manila, Seoul, Taipei, Shanghai and Auckland closed lower in sympathy with the fresh weakness assailing regional currencies. The fall further deepened the regional economic gloom and worries over corporate health.
|
 |
Ballarpur may hive off Ashti unit
Ballarpur Industries Limited (BILT) plans to hive off its Ashti paper unit into a 50:50 joint venture with a foreign partner. The BILT plan envisages spinning off the unit into a separate company which in turn will enter into a financial-cum-technical collaboration with a foreign partner. BILT is presently in talks with two foreign majors for the proposed joint venture.
|
Tata airport project approved
The much-delayed international airport project at Devanahalli in Karanataka, promoted by the Tatas, has finally been approved. Certain conditions have, however, been attached to the clearance with the prime rider being that the project would be established as a joint venture. The proposal would come up for approval before the Union cabinet shortly.
|
