The Telegraph
Since 1st March, 1999
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Business Briefs

Oil body threatens strike

New Delhi, Jan. 28: Oil Sector Officers’ Association, a representative body of public sector oil firms, today served notice of an indefinite strike beginning from the day bids are invited to sell the government’s stake in Bharat Petroleum and Hindustan Petroleum. “We have served a notice of complete strike in the oil PSUs from the date the government commences the disinvestment process,” OSOA convenor Ashok Singh said.

WTO review

New Delhi, Jan. 28: The WTO has agreed to India’s request for establishment of a panel to examine tariff concessions granted by the European Union under its Generalised System of Preferences scheme to some countries as a special incentive for combating drug trafficking.

RBI feat

Mumbai, Jan. 28: The Reserve Bank of India has suggested that financial institutions should follow the “current exposure method” to determine credit exposure in a derivative product of an individual or group borrower from April 2003.

Tea auction

Calcutta, Jan. 28: This year’s first tea auction was held today with 3.5 million kilo on offer. Tea prices, however, went up by Rs 3 to Rs 5 per kg due to strong demand from buyers.

Kharda mill

. 28: Kharda Jute Mill, a unit of the National Jute Manufactures Corporation, under work suspension since December 23, will resume production on Wednesday following a tripartite settlement reached today.

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