The Telegraph
Wednesday , January 23 , 2013
Since 1st March, 1999
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Business Briefs

Import duty on tools

New Delhi, Jan. 22: Telecom and IT minister Kapil Sibal today said a rejig in import duty structure was essential to deter equipment manufacturers from importing electronic devices. “Electronic devices used in aviation, automobile, medical equipment and even set-top boxes is all imported since they attract zero to minimum duties. We need to make it less attractive for gear makers to import electronic equipment,” Sibal said.

ISWPL shares

New Delhi, Jan. 22: Public shareholders of Indian Steel and Wire Products Ltd (ISWPL) have been offered an exit price of Rs 135 per share by promoter Tata Steel. Tata Steel, which owns a 91.36 per cent stake in ISWPL, plans to delist the firm from the Calcutta Stock Exchange, the only bourse where it is listed.

Boeing review

New York, Jan. 22: US safety investigators will visit Boeing sub-contractors this week to test components linked to the battery of a Japan Airlines 787 Dreamliner that caught fire in Boston earlier this month.

SBI rate hope

Bhubaneswar, Jan. 22: SBI chairman Pratip Chaudhuri today pitched for a cut in interest rates and cash reserve ratio by the RBI and said the move would boost investment and growth.

Insurance fraud

New Delhi, Jan. 22: The IRDA today came out with a framework for monitoring frauds in the insurance sector and asked insurers to carry out due diligence on their staff, including agents.