The Telegraph
Since 1st March, 1999
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Business Briefs

AirTel, Hutch slash tariff

New Delhi, May 7: The private cellular service providers in Delhi today reduced local and STD tariffs by up to 65 per cent. Both AirTel and Hutch have lowered STD tariff to Rs 1.99 per minute anywhere in India on other cellular networks — a reduction of up to 60 per cent from the existing tariff. For non-cellular phones, the tariff would be calculated on the basis of distance. For 50-500 km, an STD call will now cost Rs 2.99 per minute. For distance over 500 km, it has been fixed at Rs 3.99 per minute. International long distance tariff has been fixed at Rs 15.99 per minute. In the local call segment, both the service providers have reduced the tariff to Rs 1.75 on other cellular networks, while for non-cellular phones it will be Rs 1.99 per minute with a monthly rental of Rs 349. The companies have also announced four tariff plans called — Talk/Freedom 349, 599, 999 and 1699.

Fiscal Bill

New Delhi, May 7:The Lok Sabha today passed the long-awaited fiscal responsibility legislation that aims to eliminate revenue deficit by 2007-08.

SCI selloff

New Delhi, May 7:The government today invited rebids for offloading 51 per cent stake in Shipping Corporation of India (SCI) to a strategic partner along with management control. Interested parties would be required to submit their expressions of interest by June 6, 2003.

Max bonus

New Delhi, May 7:Max New York Life today announced the maiden cash bonus to its whole-life policyholders, who joined before February 6, 2002.

CII delegation

Calcutta, May 7:The Confederation of Indian Industry (CII) will lead a delegation to Ghana from May 21-24 to look for investment opportunities. Some of the sectors for investment are manufacturing, tourism, real estate, heavy engineering, mining and information technology.

Graphite net

Calcutta, May 7:Graphite India Ltd has reported a decline in post-tax profit from Rs 33.70 crore in 2001-02 to Rs 33.39 crore in the year ended March 31, 2003. The company’s board has declared a dividend of Rs 2.50 per equity share on Rs 10 each for 2002-03.

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