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Business Briefs

Nalco bidders in a bind

New Delhi, Nov. 4: The Prime Minister’s office (PMO) is understood to have directed the disinvestment ministry not to send any more bidders to Orissa for undertaking a due-diligence exercise for Nalco in face of the resistance from various quarters including chief minister Naveen Patnaik against privatisation of the aluminium giant. The direction is understood to have been issued after the disinvestment ministry sought to know as to when it could start sending the bidders’ team for continuing the due-diligence in pursuance of privatisation of Nalco, where the government has announced sale of 29 per cent stake to a strategic partner along with transfer of management control.

Canara Bank

Bangalore, Nov. 4: Falling in line with the spirit of the credit policy announced by the Reserve Bank, Canara Bank has brought down the prime lending (PLR) and prime term lending rate (PTLR) by 0.25 per cent to 11.25 per cent and 11.75 per cent, respectively, with effect from November 1.

Calcutta Port

Calcutta, Nov. 4: Calcutta Port Trust has registered a 12.61 per cent increase in traffic during April-October over the same period last year while expecting to cross 33 million tonnes of cargo during the current fiscal.

BSNL plan

Bangalore, Nov. 4: Bharat Sanchar Nigam Limited (BSNL) will soon be able to offer its subscribers access to both voice and internet together, according to telecom equipment major ITI Limited.


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