Economy
INFLATION WATCH
THE annual rate of inflation measured in terms of the wholesale price index (WPI) on a point-to-point basis dipped to 2.7 per cent for the latest recorded week ended January 1. In the preceding week it had slipped below the three per cent mark to 2.93 pe r cent.

Africa Interest group set up to boost trade
THE Federation of Indian Chambers of Commerce & Industry (FICCI) and African Heads of Mission have set up an Africa Interest Group primarily to conceptualise ideas for promoting trade, investment, tourism and technology transfer between India and Africa.

We are keen on insurance sector, says ADB chief
THE Manila-based Asian Development Bank (ADB) is very interested in the opening of the domestic insurance sector and will look at opportunities in the non-banking financial sector in India, the Bank's President, Mr. Tadao Chino, said here today.

Chidambaram raps Govt on QR pact with US
THE BJP-led coalition Government has failed to persuade the US to agree for a six-year phase-out schedule for removal of quantitative restrictions, even though the former was willing to do so once after insisting on some modifications, according to the f romer Finance Minister, Mr. P. Chidambaram.

Crude output in April-Dec 1999 drops 0.4%
THE crude oil production during April-December 1999 at 24.85 million tonnes (MT) was 0.4 per cent lower than the production registered during the corresponding period in the previous year.

Radical steps to spur exports likely in Exim Policy
THE new Exim Policy statement, to be announced by the Minister for Commerce and Industry, Mr. Murasoli Maran, on March 31, is expected to usher in some radical measures to rev up Indian exports (especially the export manufacturing segment) in the new mil lennium. With a total phase-out of quantitative restrictions (QRs) in imports by March 31, 2001 (as envisaged by the recent agreement with the US) on the cards, more items may be taken out of the negative list and put on OGL.

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