Asian trade bloc

Tokyo, May 25: India today advocated a trading bloc for Asia on the lines of the European Union saying such a move had become imperative for the prosperity and development of the region. ?The concept of Asian economic integration is a logical development as a means of promoting the common prosperity and well-being of the people of Asia,? plan panel deputy chairman Montek Singh Ahluwalia said. ?Regional integration is taking place in Europe and North America in parallel to steps to achieve multi-lateral liberalisation,? he said.

IRDA norms

New Delhi, May 25: The Insurance Regulatory and Development Authority today issued a 26-point guideline for on-line agents training institutes. The norms stipulates at least 100 hours of training in life or non-life insurance. The institutes must adhere to the guidelines, which come into effect from today, or face punitive action like fine, suspension or cancellation of licence.

ONGC buy

New Delhi, May 25: ONGC is keen on acquiring a 27.2 per cent stake in Tide Water Oil Company. The ministry of heavy industries had proposed disinvesment of Andrew Yule?s 27.2 per cent holding in Tide Water Oil.

SSI bill

New Delhi, May 25: The government today said the Small and Medium Enterprises Development Bill seeks to provide statutory backing to development programmes for the sector and replace the unwieldly SSI board with a smaller body.