Reliance seeks nod for $500-m loan
RELIANCE Industries Ltd (RIL), which was denied withholding tax benefits by the Government in 1999-2000 for not adhering to the external commercial borrowings (ECBs) norms, has now sought the approval of the Finance Ministry to raise $500 million from th e overseas loan market.

Wheat cargo rejection: Team going to Iraq
THE Union Government is planning to send a high-level team to Iraq, to assess the conditions leading to the rejection of a consignment of wheat exported to Iraq by Vishal Overseas Enterprises.

Hike in BSNL interconnect charges -- Basic operators to approach TRAI
PRIVATE sector basic service operators have decided to approach the Telecom Regulatory Authority of India (TRAI) against the decision of the State-run Bharat Sanchar Nigam Ltd (BSNL) to hike interconnect access charges for local, STD and ISD calls, start ing June 1, 2001.

IFCI seeks capital support through convertible bonds
IFCI Ltd has submitted a fresh capital support plan to the Government seeking Rs 400 crore through convertible bonds, instead of the earlier request for subscribing to a preference shares issue of the similar amount. The bonds are to have a long-term mat urity of about 20 years.

Rlys may cut down wagon procurement orders
THE cash-strapped Indian Railways may scale down its wagon procurement orders by 15 per cent during the current fiscal as part of its overall expenditure compression exercise. It has budgeted a procurement of 23,000 wagons during 2001-02.

Everthing ventured, nothing gained...
THE Indian IT boom has come and gone leaving in its wake dried up coffers which once over flowed with money pumped into funding a string of `hot ideas'.

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