Cabinet to vet Tenth Plan today
New Delhi, Oct. 28: The Union Cabinet is expected to clear the Tenth Five Year Plan recommendations on Tuesday. Among other things, the Plan calls for an outlay of Rs 6,71,009 crore for the states with a gross budgetary support of Rs 7,06,000 crore. The full Planning Commission, earlier in the month, unanimously approved the Plan document with Prime Minister Atal Bihari Vajpayee unveiling a tough six-point reform agenda to push the annual growth from a “stagnant” 5.5 per cent to a high 8 per cent.
FAG open offer
Mumbai, Oct. 28: The Securities and Exchange Board of India (Sebi) has directed the parent of FAG Bearing India Ltd to make an open offer to the shareholders of the latter by taking September 9, 2001 as the reference date for calculation of offer price.
New Delhi, Oct. 28: Canada-based software company Corel Corporation is planning to set up a representative office in the country soon besides firming up plans to make India a development and outsourcing base for its Wordperfect suite of products.
New Delhi, Oct. 28: The government will consider further liberalisation of trade in the textiles sector to integrate the Indian industry with the world economy, textiles minister Kashiram Rana said after inaugurating a three-day conference of International Textiles Manufacturers’ Federation.
Mumbai, Oct. 28: The shareholders of Zee Telefilms Limited approved a proposal to merge four subsidiaries including Programme Asia Trading Company Ltd and Kaveri Entertainment with ZTL. It also approved a 55 per cent dividend per share.
New Delhi, Oct. 28: Ranbaxy Laboratories today announced an exclusive licensing agreement with UK-based K. S. Biomedix for marketing Transmid, a new biological entity for brain cancer. It can extend the arrangement to China and south east Asian markets.
Bangalore, Oct. 28: Infosys Technologies Limited will set up its first disaster-recovery centre in Mauritius, with a capacity to accommodate 1,500 people and an investment of $ 25 million over three years.