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INTERNATIONAL
ADB predicts growth in Asian economy by 2001
Tokyo: Asia will remain at the top of the world growth league and will see a return to the good times by 2002, even if it has to absorb the impact of the slowdown in the US economy, the Asian Development Bank (ADB) said in its annual forecast published on Thursday.
Indian tourism to make hay at Arabian Travel Market
Dubai: India will have a strong presence at the Arabian Travel Market
(ATM), the region's premier travel and tourism exhibition, which will be held next month. Twenty top Indian tourism and hotel sector chains, including the Government of India Regional Tourism Office, Kerala Tourism and top private sector hotel chains are taking part in the four-day event starting May 1.
SIA-Tata to bid for a slice of Air India
Singapore: Singapore Airlines (SIA) said on Thursday that it has completed
examination of Air India's financial records that will help it decide on whether to proceed with attempts to secure a stake in the state-run carrier. A spokesman for SIA said, "The first session of the due diligence process was completed on April 17."
NATIONAL
RBI accepts panel’s proposal on share transfer
Mumbai: India's central bank, the Reserve Bank of India (RBI), has accepted the recommendation of the Narasimham Committee (NC) to transfer its shares in three banks, State Bank of India (SBI), National Housing Bank (NHB) and the National Bank for Agriculture and Rural Development (NABARD), to the Central government.
Mercedes rolls out 'highly customised' C class
Pune: Mercedes Benz India Ltd (MBIL) added another model to its portfolio of luxury cars with the launch of the C Class car at its plant on Thursday.
MaxLife to invest Rs 3.5 bn in Indian insurance
New Delhi: Max New York Life Insurance, a joint venture between India's Max group and US-based New York Life, plans to invest Rs 3.5 billion ($ 75 million) in India's newly opened insurance sector.
NIIT profit likely to go down by 30 per cent
New Delhi: Indian software major NIIT Ltd said on Thursday its operating profit was likely to fall 30-40 per cent in the financial year ending September due to the US economic slowdown.
BSE stocks upbeat as US market looks up
Bombay: Stocks on the Bombay Stock Exchange (BSE) surged almost four per cent on Thursday following the overnight rise on the US markets, brokers said.
India’s whisky import duty to be challenged
London: A dispute over duty on Scotch whisky in India took a serious turn on Thursday after the British government backed a challenge to India before the World Trade Organisation (WTO).
SEBI bars trading by three top brokerages
Bombay: India's stock markets regulator has barred three top brokers, including a foreign brokerage, from trading as part of investigations into a recent markets scam, officials said on Thursday.
RBI assures of economy boost with credit
Bombay: India's central Reserve Bank of India (RBI) forecast on Thursday economic growth of 6.0-6.5 per cent for the year ending March 2002 and kept interest rates unchanged in its annual credit policy.
MUL mulls over direct car imports
New Delhi: India's largest carmaker Maruti Udyog Limited (MUL), which is 50 per cent owned by Japan's Suzuki Motor Corp, on Wednesday said that it is considering direct imports of cars from the Japanese firm.
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