The Telegraph
Since 1st March, 1999
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Business Briefs

HSBC adviser to Hind Petro

New Delhi, March 7: The core group of secretaries on disinvestment, which met today, is believed to have favoured the appointment of HSBC as the global adviser for managing the privatisation of Hindustan Petroleum Corporation (HPCL). HSBC has been selected for the coveted post from among 17 merchant bankers, who had made presentations before the disinvestment ministry last month, government sources said.

PF norms

New Delhi, March 7: The government has amended the investment pattern of provident, super-annuation and gratuity fund capping the maximum exposure in bonds to 30 per cent from the earlier limit of 40 per cent.

Service tax Bill

New Delhi, March 7: The government today introduced a Bill placing services on the Union list for taxation, but with the proviso that both states and the Union can levy tax on selected services.

Sebi plan

New Delhi, March 7: The Securities and Exchange Board of India (Sebi) today said the process of demutualisation of bourses will be started soon after the government carries out necessary legislative changes, chairman G. N. Bajpai said.

BT call centre

London, March 7: British telecommunications provider BT group today announced plans to create 2,200 jobs in India over the next year, joining a growing band of companies shifting calls centres to the subcontinent.

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