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Since 1st March, 1999
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Business Briefs

Fresh EU offer for services

New Delhi, April 29: The European Union today climbed down on its stance on services negotiations proposing a minimum binding on movement of professionals but not fixing a ceiling, which is expected to benefit countries like India. “It is not a ceiling but a minimum binding, the number of inflow in many services at present is very low, there will be no numerical limit for individual member states,” European Union’s trade commissioner Pascal Lamy said here today.

Plan target

New Delhi, April 29: Rejecting Opposition claim that the Tenth Five Year Plan growth target of 8 per cent was “unrealistic”, the government today asserted in the Rajya Sabha that it was taking all steps to meet the target. It also said a Cabinet Committee would constantly monitor implementation of all programmes.

Ericsson loss

Stockholm, April 29: Sweden’s beleaguered telecommunications equipment giant Ericsson today reported its eighth consecutive quarterly loss and said it would cut some 7,000 jobs by next year. The company posted a net loss of $ 518 million for the first three months of the year and said it planned to reduce its workforce to 47,000 by 2004 in a bid to return to profitability.

Skoda unit

Mumbai, April 29: Skoda Auto India Pvt Ltd is set to launch its completely knocked down assembly operations in India. “The operations would begin in Aurangabad by September or November this year; it will enable Skoda to increase production from 8,000 cars per annum to around 10,000 units per annum,” Karl-Gunter Busching, CEO, Skoda Auto said.

Tax mopup

New Delhi, April 29: The Central Board of Direct Taxes (CBDT) today expressed satisfaction over achieving the budget collection target of Rs 83,000 crore during financial year 2002-03.

Bank strike

Chennai, April 29: The three major bank officers associations — All India Bank Officers Confederation, All India Bank Officers Association and National Organisation of Bank Officers — today said there was no question of reconsidering their decision to go on a country-wide strike on May 2.

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