The Telegraph
Since 1st March, 1999
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Business Briefs

Govt to repay bonds

New Delhi, Dec. 2: The government will repay capital gains bonds of 1997, bearing an interest rate of 6 per cent, on December 29, 2002 after adjusting for the inflation rate. The repayment amount would be adjusted for inflation, measured in terms of the wholesale price index, as envisaged in the notification of December 19, 1997, when the bonds were issued.

Sebi Act passed

New Delhi, Dec. 2: Parliament today approved a Bill to give more teeth to Sebi, including search and seizure power, with finance minister Jaswant Singh announcing that a Serious Frauds Office would be set up soon to check white collar crime.

Exports up

New Delhi, Dec. 2: Exports rose 13.6 per cent year-on-year during April-October, 2002 at $ 28.23 billion against $ 24.84 billion in the previous year. Imports during the period under review rose 12.32 per cent at $ 33.78 billion against $ 30.07 billion in the year-ago period.

ONGC plan

Mumbai, Dec. 2: Oil and Natural Gas Corporation (ONGC) will pick up a 23 per cent equity in the Rs 670-crore Mangalore-Hassan-Bangalore product pipeline following its proposed acquisition of a stake in Mangalore Refinery and Petrochemcials.

HDFC bonus

Mumbai, Dec. 2: The shareholders of HDFC Ltd today approved the proposal to issue a bonus share in the ratio of 1:1 though few foreign investors opposed it. Apart from this, the company’s buyback programme was also ratified.

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