Digital
MUMBAI: The directors of Digital Equipment have maintained the dividend at 15 per cent for the year ended June 27, 1998. Total turnover and other receipts amounted to Rs 353.83 crore (Rs 284.13 crore) and it earned a slightly lower gross profit before interest of Rs 43.73 crore (Rs 44.21 crore). The net profit, however, amounted to Rs 27.38 crore (Rs 25.24 crore) mainly due to lower tax liability of Rs 8.85 crore (Rs 13.44 crore).

ADB loan
GANDHINAGAR: Anadditional loan of $ 150 million for the infrastructural development in Gujarat from the Asia Development Bank (ADB) is expected to sanctioned by December 1998. According to official sources, the ADB had promised to give a loan of $ 1000 million in phases for the development in infrastructure like power and road construction in Gujarat, of which the state had already received $ 100 million in 1996 and utilised it. Sources also said that the government was seriously considering the privatisation of Gujarat Industrial Investment Corporation (GIIC), Gujarat Tractor and Gujarat Communication Electronic (GCE). In GIIC, 26 per cent share would be taken by ICICI, HDFC and another company.