The Telegraph
Since 1st March, 1999
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Business Briefs

Export growth at 9%

New Delhi, Oct. 1: Indiaís exports maintained a growth momentum at nearly 9 per cent during April-August this fiscal. However, it slowed down in August at 4.19 per cent, apparently in the face of appreciating rupee value. Cumulative exports in the first five months was put at $22.5 billion as against $20.6 billion last year, the latest monthly trade data released today said. In rupee terms, the exports growth was only 4.1 per cent during April-August and in August it recorded a negative growth of 1.5 per cent over the corresponding period last year.

IDBI chief

Mumbai, Oct. 1: M. Damodaran, chairman and managing director of UTI Asset Management Co and administrator of UTIís specified undertaking, today assumed charge as CMD of IDBI as a temporary measure.

Tax norms

New Delhi, Oct. 1: The government has amended the income tax rules to make it mandatory for certain buyers to furnish declaration of their purchases and pay tax within the first week of the subsequent month, a release said.

Oman pipeline

Sur (Oman), Oct. 1: India might reconsider the gas pipeline venture with Oman, which had been shelved due to some technical glitches, said Union minister S. S. Dhindsa.

OVL plan

New Delhi, Oct. 1: ONGC Videsh Ltd, the overseas arm of ONGC, may pick up stakes in the oil fields of Myanmar, Libya, Australia, Indonesia, Saudi Arabia, Kuwait, Venezuela, Iran, Qatar and Bangladesh.

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