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Friday, February 04, 2005

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Banks may be allowed to trade in commodities
IN what would give a huge boost to commodity futures trading, the Government is all set to allow banks to trade in commodity derivatives. The Reserve Bank of India, according to sources, has given its nod to amend Sections 6 and 8 of the ... More

Banks move govt securities from active trading
SOME of the top banks in the country have, in the last six months, shifted over Rs 68,000-crore worth of government securities held by them for active trading into one that would be held as permanent investments till redemption. This follows a ... More

Sensex up 90 points; crosses 6,600-mark
THE bulls are back to reigning the bourses with the markets looking stronger over the last few trading sessions. The Sensex gained 89.91 points on Thursday's trade and comfortably scaled the 6,600-level to close at 6,619.97. The Nifty also ... More

Norms issued for competitive bidding to fix power tariff
IN a bid to move away from the cost-plus approach being used for determining tariffs in the power sector, the Government has issued guidelines for competitive bidding for tariff determination of power procured by distribution companies. ... More

Nepal air connectivity restored; tourism hit
WHILE air connectivity between India and Nepal returned to normalcy today with Indian Airlines, Jet and Sahara restarting operations, the recent incidents there have affected tourism significantly. Officials of the various airlines operating ... More

Russia's AFK Sistema in deal to buy 49 pc Aircel stake for $450 m
AFK Sistema, a Russian company, has signed a non-binding deal to acquire a 49 per cent stake in Aircel, a cellular service provider now offering services in Chennai and Tamil Nadu circles, for $450 million (about Rs 1,960 crore). The Russian ... More

Grey market calls: Govt pulls up pvt operators
THE Ministry of Communications has hauled up private operators for allowing grey market calls to be routed through their network, which was causing revenue loss to the national exchequer. In a recent meeting with industry honchos, the Minister ... More

`Excise collection may not meet target'
THE Finance Ministry on Thursday expressed confidence that the overall tax collection during 2004-05 fiscal would be on target even though there might be some shortfall on the excise front. "Things are better now after the scare that we had on ... More

Coffee exports down 6 pc on dip in production
COFFEE exports for the 2004 calendar year, tracking a lower crop, declined by about six per cent in quantity to 2.096 lakh tonnes compared to 2.224 lakh tonnes in 2003. In rupee value terms, exports during the year dropped by four per cent, while ... More

`Govt will step in to meet EPF shortfall'
THE Government will step in with the necessary financial assistance to ensure that subscribers of the Employees' Provident fund Organisation (EPFO) actually receive 9.5 per cent interest on their deposits for 2004-05, despite the Finance ... More

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