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Since 1st March, 1999
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Business Briefs

Plum IMF post for Rajan

Washington, July 3: Indian financial expert Raghuram Rajan has been named as the International Monetary Fundís new chief economist. IMF managing director Horst Kohler has proposed Rajanís name to the prestigious and high visibility post with the official title of economic counsellor and director of the IMF's research department.

SSI offer

Calcutta, July 3: The management of SSI Ltd today decided to raise up to $ 50 million (Rs 230 crore) through issue of shares or other instruments that could be converted into shares in India and abroad. The amount will be used to expand SSIís software services business through acquisitions.

Dabur India

New Delhi, July 3: FMCG major Dabur India has decided to delist its shares from eight stock exchanges in the country, including Delhi, on account of insignificant trading on these exchanges. At present, Dabur is listed on 10 stock exchanges and over 95 per cent of the volumes are traded on NSE and BSE alone.

WorldCom fine

New York, July 3: MCI, the rebaptised WorldCom seeking to emerge from bankruptcy, has offered an extra $ 250 million to holders of company stock and bonds to settle fraud charges, bringing the total to a record $ 750 million.

Perot systems

New Delhi, July 3: NYSE-listed Perot Systems will acquire Chennai-based Vision, a healthcare claims processing company, for an aggregate value of $ 10 million.

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