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Business Briefs

Cabinet meet on trade

New Delhi, June 4: A meeting of the Cabinet and the Cabinet committee on WTO will be held here on Thursday to take up among other things the country’s offer for opening certain services to international competition. It will also consider a decision on the future of public sector Pyrites, Phosphates and Chemicals Limited. The Cabinet will also take up issues related to the Greater Nile oil project, where ONGC recently acquired a 25 per cent stake from Talisman of Canada.

NHB rate cut

New Delhi, June 4: The National Housing Bank (NHB) today slashed lending rates by 0.25 per cent to 6.85 per cent. It has reduced the fixed refinance rate to 6.85 per cent from 7.10 per cent.

Bourses report

New Delhi, June 4: The Federation of Indian Stock Exchanges has listed a slew of measures to generate life in the 9,900 sparsely traded stocks. The M. R. Mayya committee report in this regard will be submitted to the market regulator Sebi tomorrow.

Provident Fund

New Delhi, June 4: The Central Board of Trustees today said it was more than willing to take over the provident funds, which the companies are managing themselves after getting the required exemption, if they find it difficult to give the stipulated 9 per cent interest.

Liquor tax

New Delhi, June 4: The government today deferred the date of collection of 10 per cent tax at source from Indian made foreign liquor to September 2003, from the previous deadline of June 1.


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