The Telegraph
Since 1st March, 1999
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Business Briefs

Trai wants V-sat fee halved

New Delhi, Dec. 10: The Telecom Regulatory Authority of India (Trai) has recommended that the annual licence fee per terminal for captive V-sat users should be brought down to Rs 8,000 from Rs 16,000 at present. It also recommended an increase in the data speeds for V-sat users from 512 kilobits per second to 2 megabits per second in Mesh connectivity mode. The suggestion followed the easing of pressure on transponder capacities as a result of allowing foreign satellites.

HPCL stake

New Delhi, Dec. 10: Gail today threw its hat into the ring for acquiring government stake in HPCL a day after the government announced privatisation of the oil marketing firm.

Reliance gas

New Delhi, Dec. 10: Reliance Industries Ltd (RIL) today said it will start gas production from the deepwaters of Krishna-Godavari basin by mid-2004. Its development may cost RIL around $ 1.3 billion.

Wipro Tech

Bangalore, Dec. 10: Wipro Technologies, the IT services division of Wipro Limited, has completed the first phase of the Listed Company Administration project for the New York Stock Exchange.

CMIE study

Mumbai, Dec. 10: The Centre for Monitoring Indian Economy (CMIE) said industrial production is likely to decline in the second half of the current fiscal, while the first advanced estimate of kharif crop showed a 10 per cent drop in food production.

Ascon survey

New Delhi, Dec. 10: Housing finance and cellular services sectors posted a 40 per cent and 78 per cent respective growth in April-December, according to a CII-Ascon survey. It showed positive trend in the hotel and tourism industry, which recorded a positive growth (12 per cent) from a negative (10 per cent) during April-September 2002.

Sebi proposal

Mumbai, Dec. 10: A Sebi-appointed panel has suggested that the Merchant Bankers (MB) Rules, 1992, and Merchant Bankers Regulations, 1992, should be revised to have a single regulation and MB should be permitted to conduct fund and non-fund based activities.

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