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Business Briefs

Hint of FDI hike in aviation

New Delhi, Dec. 7: The high-powered Naresh Chandra Committee, set up to evolve a roadmap for the civil aviation sector, will present its report on Monday and is likely to recommend allowing foreign airlines to pick up stake in the domestic aviation sector up to 49 per cent. The recommendations of the committee is likely to form part of a new national civil aviation policy if approved by the government.

Reliance offer

New Delhi, Dec. 7: Reliance Industries Ltd has offered to supply natural gas from its D6 field in the Bay of Bengal to National Thermal Power Corp free of cost. In return, NTPC has to sell the power generated from the feedstock to Reliance.

Bank assets

Mumbai, Dec. 7: The total international assets of Indian and foreign banks in the country rose to Rs 1,06,848 crore ($22,993 million) as on June 2003 from Rs 1,04,574 crore ($22,016 million) recorded in March, according to the Reserve Bank of India. The total foreign claims of Indian banks on countries other than India rose to $23 billion in June compared with $20.4 billion registered in the same period previous fiscal.

Export norms

Mumbai, Dec. 7: The Reserve Bank of India has allowed exporters to write off outstanding export dues, and extend the prescribed period of realisation beyond 180 days, albeit subject to certain conditions.

WTO talks

New Delhi, Dec. 7: India will submit its offers on services at the WTO this week, ahead of the general council meeting on December 15 when senior officials from 148 member countries meet to break the stalemate in trade negotiations after the collapse of Cancun ministerial.

RRB merger

New Delhi, Dec. 7: Merging of regional rural banks (RRB) and setting up of an apex authority for the regional rural banks are likely to be delayed as the sponsoring banks, RBI and Nabard are yet to reach a decision.

Insurance meet

New Delhi, Dec. 7: The Confederation of Indian Industry’s two-day eighth insurance summit will begin in Hyderabad on Monday

Chip prices

Mumbai, Dec. 7: Advanced Micro Devices Inc (AMD) has slashed prices of its microprocessors across the globe by a maximum of 40 per cent and a minimum of 2 per cent.


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