The Telegraph
Since 1st March, 1999
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Business Briefs

Govt relaxes tea order

Calcutta, April 24: The Union commerce ministry has amended the Tea Marketing Control Order 2003. The registration fee for both buyers and sellers has been reduced to Rs 2,500 from Rs 5,000. Moreover, the commerce ministry has incorporated a specific clause in the order empowering the Tea Board to relax any of the provisions of the order to address the industry’s concerns. However, the board will have to seek prior approval from the Centre.

Jessop selloff

Calcutta, April 24: The Calcutta High Court today refused to entertain an oral prayer by Ruia Cotex for an extension of the interim stay of its order on Jessop and Company.

NPIL net rises

Mumbai, April 24: Nicholas Piramal India Ltd (NPIL) has reported a net profit of Rs 118.12 crore for the financial year ended March 31, 2003, compared with Rs 48.24 crore posted in the previous fiscal.

Crude output

Vienna, April 24:: Opec cut its output by 2 million barrels per day (BPD) and set a new production ceiling of 25.4 BPD to take effect in June, oil ministers said after a meeting here today.

P&G profit up

Mumbai, April 24: Procter & Gamble Hygiene and Health Care Ltd has posted a higher net profit of Rs 14.77 crore for the third quarter ended March 31, 2003, compared with Rs 12.07 crore in the corresponding previous period.

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