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Since 1st March, 1999
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Business Briefs

External debt rises 6 per cent

New Delhi, June 19: The country’s per capita external debt rose 6 per cent to $ 101.2 in the first nine months of 2002-03 after a negative growth in the last decade, a government report said today. Total external debt grew to $ 105 billion during this period from $ 98.8 billion reported at the beginning of the fiscal. However, the report says there was a decline in the debt-GDP and debt-service ratios. Debt-GDP ratio stood at a lower 20.6 per cent during the end of the third quarter against 38.7 per cent at the beginning of the fiscal. The debt service ratio was more than halved from 30.2 per cent to 13 .7 per cent.

Futures trading

Mumbai, June 19: Finance minister Jaswant Singh will inaugurate National Stock Exchange’s interest rate futures trading on June 24, the exchange informed its members today. Exchange sources said the minister is likely to launch the trading in Delhi.

VAT panel

New Delhi, June 19: The empowered committee on value-added tax will meet finance minister Jaswant Singh in mid-July to discuss the ‘roadmap’ for introduction of the new tax regime, after which it will be taken up with the political parties for a national consensus.

Jet Air chief

New Delhi, June 19: Jet Airways today announced the appointment of Wolfgang Procksehauer as its chief executive officer and Peter Luethi as its chief operating officer. While Procksehauer was earlier chairman of the Alliance Management Board of Star Alliance, a partnership of leading global airlines, Luethi’s last assignment was with Swissair, where he was COO.

Air Sahara

New Delhi, June 19: Air Sahara today added Cochin to its route network. Beginning today, the airline will offer a direct connection to and from Mumbai. Cochin will also be connected to Delhi and Calcutta via Mumbai.

BCCI initiative

Calcutta, June 19: The Bengal Chamber of Commerce and Industry will introduce new concepts to address issues related to Bengal’s development with its Bengal Forward Initiative. The Chamber will work as a facilitator in promoting the food processing industry in North Bengal.

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