PM okays Ministry decision -- Govt to drag US, EU to WTO over steel duties
THE Prime Minister, Mr. Atal Bihari Vajpayee, has endorsed the Steel Ministry's decision to drag the US and European Union to the World Trade Organisation (WTO) for imposing high anti-dumping and countervailing duties on Indian steel exports.

Move to hive off SCI units
AS a prelude to privatisation, a proposal to hive off a couple of divisions of the public sector Shipping Corporation of India (SCI) into separate entities is being discussed at the highest level.

New McDowell arm to handle global brands
MCDOWELL and Co has announced the formation of a new subsidiary, McDowell International Brands. The new company which is a 100 per cent subsidiary, will take over the existing business of UB International in India, marketing brands of foreign spirits, wines and beers, such as Carlsberg, Scotch whiskies of Invergordon, Drambuie, Bols range of liqueurs, Angostura Bitters, Borie-Manoux and Ruffino through the duty free/hotel channels, a company release stated here.

Finance Ministry convene meet to tone up IDBI, IFCI
THE Ministry of Finance has decided to call a high-level meeting with the Industrial Development Bank of India (IDBI) and Industrial Finance Corporation of India (IFCI) to assess the steps being taken by the two financial institutions to tone up their working.

ESOPs or just empty sops?
THE stock market indices are moving up once again. They are almost promising another good time like the February bull run. But this time, the ESOP owners are not really excited!

ADR/GDR fungibility hinges on tax treatment
THE Government is waiting for a final view to be taken by the Central Board of Direct Taxes (CBDT) on the tax treatment, before taking a decision on allowing fungibility of American Depository Receipts (ADRs) and Global Depository Receipts (GDRs).

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