Truckers strike called off
New Delhi: The All-India Motor Transport Congress (AIMTC) has called off the truckers strike. This follows a meeting between the surface transport minister, Nitish Kumar and members of the AIMTC.

The strike has been going on since 21 October 1999, protesting against the diesel price hike effected by the government.

The government has refused to roll back the price hike, but has said that it will review the permit fees and toll fees.
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RBI may impose money market limits
Mumbai: The Reserve Bank of India may set limits on the overnight inter-bank borrowings. This may be done when the RBI reviews the credit and monetary policy.

Such limits, it is felt, would control volatility in the money market and thus reduce the risk of perennial borrowers.

Meanwhile, the RBI may introduce new forms of funding for primary dealers. This is because almost all of RBI’s Rs.14,252 crore credit to the commercial sector has been through refinancing by the primary dealers.
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Calcutta Telephones to launch WLL phones
Calcutta: By early-2000, Calcutta Telephones will launch 5,000 wireless in local loop (WLL) lines. Hyundai has completed trials for the network. The launch will be preceded by the Department of Telecommunication’s invitation for financial bids.

The WLL phone will cost around Rs.9,000 and will have a range of a radius of five kilometres. The WLL technology will be similar to the one used by Mahanagar Telephone Nigam Ltd. in New Delhi.
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HDFC in search on CEO for MF
Mumbai: Housing Development and Finance Corporation is looking for chief executive officer to head its mutual fund venture. Though the chief investment officer and back office employees will be transferred from HDFC, the CEO will be an outsider.

Milind Barve, general manager, treasury at HDFC in now in charge of the mutual fund venture. But, because of his indispensability at HDFC, he is not being made the CEO of the mutual fund.
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Blackstone may take stake in Chicago Mercantile
New York: US-based Blackstone group may take a minority stake in Chicago Mercantile Exchange. The exchange is in the process of being demutualised and is the second largest futures market in the US.
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