Re touches new low at 45.85/88
AFTER a marginal recovery yesterday, the rupee today again lost 25 paise against the dollar, touching a new low of 45.85/88 to a dollar. The RBI kept away from the market.

Pakistan still occupies key Drass point
PAKISTAN soldiers perched at peak 5,353 metres, on the strategic Marpo La Ridge had a grandstand view of this year's Vijay Diwas celebrations, marking the official end of the Kargil war. At least some of them must had wry smiles on their faces, for altho ugh peak 5,353 metres is inside the Indian side of the Line of Control (LoC), Pakistani troops held the mountain through the Kargil war and continue to do so today.

IT Act to be set in motion on Aug 15
THE Union Government is all set to accord legal sanctity to electronic communication, e-commerce transactions and usher in electronic-governance by setting in motion the implementation phase of the Information Technology Act, 2000 and the establishment o f Certifying Authority (CA) to recognise `digital signatures'.

TNEB may revoke escrow cover for Videocon project
THE prospects of the 1,050 MW coal-based Videocon power project in north Chennai appear bleak with the Tamil Nadu Electricity Board (TNEB) considering revocation of the escrow cover given to it.

Bond funds risk-free, not anymore
SO, you thought investments in equities were a risky proposition and those in debt instruments a safe haven. Think again. Tumbling of net asset values (NAV) of various fixed-income bond funds, following the recent bank rate hike, tell a different story.

`Dadiseth is someone we know and respect'
MR. Ratan N. Tata, Chairman of the Tata group, today ascribed the appointment of Mr. K.B. Dadiseth on the board of Indian Hotels Co Ltd (IHCL), to the need for independent directors at Tata companies.

Private insurers must fulfil social tasks: PM
ALL private insurance companies which enter the Indian market should meet their specified social sector obligations, the Prime Minister, Mr. Atal Behari Vajpayee, said today.

Vigorous in most regions
The South-West monsoon continues to be on the revival mode, with most parts of the country, barring West Rajasthan and the Saurashtra-Kutch region, receiving reasonably good precipitation over the last 24 hours.

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