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Since 1st March, 1999
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Business Briefs

Goldman to buy Cogentrix

New York, Oct. 20: Investment bank Goldman Sachs Group today said it was buying private power producer Cogentrix Energy for an undisclosed sum. The deal, which is subject to regulatory approvals, adds 26 power plants and about 3,300 megawatts of generating capacity to Goldman's power portfolio.

Growth forecast

Mumbai, Oct. 20: Backed by the robust performance of services sector and resurgence in farm sector, the economy is expected to grow at over 6.5-7 per cent in the current financial year, S. Narayan, economic adviser to the Prime Minister, said today.

Tax audit report

New Delhi, Oct. 20: The last date for filing tax audit reports for partners of firms has been extended to November 30. In continuation of the order issued by Central Board of Direct Taxes for companies, the last date for filing tax audit reports of persons in a partnership firm has been extended to November end.

SBI pact

Mumbai, Oct. 20: State Bank of India and New India Assurance Co have tied up for distributing general insurance policies of the latter through SBIís branch network. This is the first time that State Bank will be vending a third partyís product.

Gold demand

Mumbai, Oct. 20: Gold demand for the second quarter of this fiscal rose 36 per cent to 184 tonnes as against 135.2 tonnes in same quarter last year. The buying binge was induced by lower gold prices and the perception of greater price stability, the World Gold Council said.

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