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WTO snubs US on steel

Washington, March 27: The World Trade Organization (WTO) has ruled that steel tariffs imposed by US President George W. Bush last year to protect the American industry from a surge in imported steel violated international trade rules. The WTO was acting on complaints by the European Union and major steel producers and exporters in Asia and Latin America.

Blue Star plan

Mumbai, March 27: Blue Star will divest 24.98 lakh equity shares, held in a joint venture ó Yokogawa Blue Star ó in favour of its Japanese partner, Yokogawa Electric Corp, at Rs 67 per share aggregating Rs 16.74 crore.

LIC policy

New Delhi, March 27: The government today said LICís Bima Nivesh and single premium policies of private insurers bought before March 31, 2003, may be exempted from income tax.

Phillips Carbon

Calcutta, March 27: Phillips Carbon Black (PCBL) plans to increase its annual production capacity by 40,000 tonnes by acquiring existing facilities in India and abroad. PCBL is eyeing facilities in China and those near its plants in Durgapur and Baroda for takeover.

Edible oil duty

New Delhi, March 27: The government today indicated that the 8 per cent excise duty on edible oil and vanaspati proposed in the Union Budget for 2003-04 may be pegged down.


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