The Hindu Business Line : Tuesday, July 16, 2002

Pfizer set to swallow Pharmacia for $60 b — May vault to 4th slot in India
PFIZER Inc, the world's largest drugmaker, has agreed to buy rival Pharmacia Corp for $60 b in shares, gaining control of top-selling painkillers. The acquisition would be the biggest this year and is expected to lead to more consolidation in the ... More

Savings bank deregulation not now
THE Reserve Bank of India has practically ruled out deregulating savings bank rates for now. "We cannot do it right now," said the RBI Governor, Dr Bimal Jalan, speaking informally to journalists at a function here. He did not also want to take a ... More

NPA Ordinance may cover urban co-ops too
THE first major change in the Ordinance for recovery of non-performing assets (NPA) is in the offing with the Government agreeing to widen its scope to include urban co-operative banks (UCBs) under the new legal dispensation. The Finance ... More

IFCI may be denied access to EPF funds — ICICI also to be struck off PFI list
THE Finance Ministry is planning to knock off the troubled financial institution IFCI as well as ICICI from the list of eligible public financial institutions (PFIs) whose bonds can be subscribed to by provident funds. The proposal to delete ... More

HC okays Sterlite arrangement
STERLITE Industries (India) Ltd today informed that the Bombay High Court had upheld the scheme of arrangement between the company and its equity shareholders, which envisaged purchasing up to 50 per cent of Sterlite's equity capital from its ... More

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