Portfolio investments banned for overseas corporate bodies
THE Reserve Bank of India (RBI) on Thursday banned overseas corporate bodies (OCBs) from investing in the stock market under the portfolio investment scheme (PIS).

StanChart chief Talwar quits
MR Rana Talwar has resigned as a Director and Group Chief Executive Officer of Standard Charted Plc. An announcement from the banks London headquarters said Mr Mervyn Davies replaces him as Group CEO with immediate effect.

Licence roadblock before Batata
THE mega merger between Birla AT&T, the Tatas (Batata) and BPL could hit a roadblock on the licence front.

Essar gets IDBI nod to resume Vadinar project
DECKS have been cleared for Essar Oil to resume work on its 10.5-million-tonne Vadinar refinery project in Gujarat, with IDBI - one of its institutional lenders - giving Essar the go-ahead.

Oil PSUs to issue bonus shares -- Rs 448.84-cr provision in supplementary demand
IN a further bid to make up for the likely shortfall in disinvestment receipts, the Centre has made State-owned oil companies issue bonus shares worth Rs 448.84 crore.

Cazenove closes India operations
BRITISH brokerage house Cazenove Group has decided to close shop in India blaming the downturn in the market.

Want to dance like MJ? Get his patented shoes
WHAT has Michael Jackson, the pop music icon, got to do with patents? On the face of it, nothing perhaps. But wait, the teenage music heartthrob is a recognised innovator, whose dancing shoes have got a US Patent.

IDBI Q2 net down 85 pc at Rs 25.2 cr
INDUSTRIAL Development Bank of India (IDBI) today reported an 85 per cent drop in net profit to Rs 25.2 crore for the quarter ended September 30, 2001, as compared to Rs 164.7 crore for the quarter ended September 30, 2000.

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