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Business Briefs

Jessop to spruce up facility

Calcutta, Sept. 29: Jessop and Company Limited, the engineering firm that the government sold to Ruia Cotex, said today it is looking for foreign collaboration for revamping its facilities. The company is targeting a turnover of Rs 300 crore during the next three years to wipe out accumulated losses, besides introducing an innovative scheme to productively deploy surplus staff.

Share norms

Mumbai, Sept. 29: Relaxing norms for issuance of additional securities, the Securities and Exchange Board of India today said that companies listed on the stock exchanges with nationwide terminal network should seek ‘in-principle’ approval only from such an exchange to issue additional shares and securities.

Saregama loss

Calcutta, Sept. 29: Saregama India Ltd has reduced losses by 61.60 per cent to Rs 5.50 crore during April to June 2003 from Rs 13.15 crore in the year-ago period.

Coffee loans

New Delhi, Sept. 29: The Reserve Bank today announced concessions under the Special Coffee Term Loan scheme, extending the package for growers to March 31, 2004.

Microsoft

New Delhi, Sept. 29: Microsoft Corporation India Private Limited today launched Project Bhasha, a program aimed at accelerating local language computing in India, but declined to offer the code to developers as has been done by Linux. Microsoft officials said, “Our job is to produce commercial software. Those who do not, are not looking at the long term objectives.”


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