Friday, April 9, 1999
India, Qatar seal $25 bn world's largest gas pact
India sealed a decision to buy gas worth nearly $25 billion over 25 years with Qatar yesterday, sending a message that New Delhi is willing to move beyond rhetoric to invest in its "strategic neighbourhood.''
Diamond exports cross $5 billion mark
Indian diamond exports are sparkling once again. Notwithstanding worldwide demand recession for precious stones, exports of cut and polished diamonds during the year ended March 1999 have gone up provisionally by 12 per cent to $ 5,012.72 million from $4,492.66 million achieved in the previous year ended March 1998.
Kelkar backtracks on interest rates
After commerce minister Ramakrishna Hegde, it was the turn of finance secretary Vijay Kelkar to retract on his earlier statement that interest rates should come down further. Kelkar's statement has put to rest the controversy that the finance ministry and the RBI are at loggerheads over the interest rate.
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