Bailout for paging industry

New Delhi, April 28: The government today cleared a fresh Rs 500-crore financial package for the crisis-ridden paging industry, amid the ongoing general elections, after getting clearance from the Election Commission. “We have cleared the package on the lines of a decision taken by the cabinet in January 2003,” said telecom secretary Nripendra Mishra. Service providers, however, termed the package as inadequate. More effort is required to salvage the sector, which is reeling under the onslaught of mobile phone services, they said.

Imports up

New Delhi, April 28: Imports of 300 sensitive items grew 27 per cent to Rs 14,621 crore during April-January 2003-04 from Rs 11,532 crore recorded in the corresponding period of the previous year. According to a commerce ministry press release, the gross imports of all commodities during this period touched Rs 2,85,305 crore up from Rs 2,40,966 crore in the same period last year.

UTI investors

New Delhi, April 28: UTI Investors’ Forum have urged the government to pay at least the principal amount invested by them in the US-64 scheme during 1998-99, following revival of the stock markets in the country. Feeling deprived by the UTI, the forum has put forward three options of payment settlement.

NDTV offer

Mumbai, April 28: New Delhi Television (NDTV) India Ltd’s initial public offering has received bids about 17 times the issue size at the close of bidding today.

RIL forecast

Mumbai, April 28: Reliance Industries Ltd (RIL) is likely to show a substantial growth in its net profit for the last financial year as well as the fourth quarter ended March 31, 2004.

Shell jobs

London, April 28: Shell plans to move thousands of jobs to India in an attempt to cut its huge information technology budget by £475 million, a spokesman said.

Comcast move

Philadelphia, April 28: Comcast Corp is dropping its takeover bid for the Walt Disney Co, saying Disney management has made it clear it has no interest in putting the two companies together.