Financial Daily
from THE HINDU group of publications

Monday, July 30, 2001








Page One

 Zee promoters buy back media stocks at cost
THE promoters of Zee Telefilms Ltd (ZTL) have bought back the media stocks, parked earlier with the company, ``at cost'' to bring back Rs 50 crore to ZTL.

HPCL defers decision on MRPL stake
THE Hindustan Petroleum Corporation Ltd's (HPCL) board today deferred a decision on its board proposal to buy out the AV Birla group's 37 per cent stake in Mangalore Refineries and Petrochemicals Ltd (MRPL).

More sales tax sops for telecom sector on cards
AFTER a slew of budgetary sops, telecom service providers in the public and private sectors are set to be accorded yet another concession aimed at bringing down costs of goods procured by them in the course of inter-State trade.

Money laundering Bill may be drafted afresh
THE Government is looking at the option of withdrawing the Prevention of Money Laundering Bill (PMLB) which is pending passage before Parliament, and drafting the entire legislation afresh, following reservations expressed by the Finance Ministry on some of the crucial recommendations made by the Select Committee.

Srini Raju is MetLife ally -- `Ramalinga Raju not involved'
WITH reference to the report on MetLife insurance published in Business Line on July 29 quoting Mr N. Rangachary, Chairman, Insurance Regulatory and Development Authority (IRDA), Mr Venkatesh Mysore, Managing Director, MetLife India Insurance Co Ltd, cl arifies that it is Mr Srini Raju, promoter of i-Labs who is picking up a stake in the insurance venture and not Mr Ramalinga Raju of the Hyderabad-based Satyam group as mentioned.

Volumes squeeze, wary brokers haunt BSE board
THE governing board of the Bombay Stock Exchange (BSE) has asked the exchange administration to examine the bourse's financial viability. The exchange is worried over the decline in business volume resulting in lower income in the current year.

Airbus, HAL in talks for A-380 project
THE Toulouse-based aircraft major Airbus Industrie has carried out a survey of the facilities of Hindustan Aeronautics Ltd (HAL) for its participation in the making of the double-decker Airbus A-380 aircraft.

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