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PC shipments top 1 m in 1999
New Delhi: In 1999 the Indian personal computer market reached the milestone of 1
million units shipped in a single calendar year, recording a 42 per cent growth in unit
terms and 60 per cent growth in value terms over the previous year, according to IDC
(India).
During the year a total of
1,102,151 PCs were shipped, valued at Rs. 5,200 crore, IDC estimates.
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Enron &
Global Tele jointly investing in fibre optic grid
Mumbai: The Maharashtra State Electricity Board, Enron, and Global Tele-Systems
will jointly invest about Rs 600 crore in a 5,000-km fibre-optic network linking towns and
cities in Maharashtra for high-speed data and content transmission.
The MSEB and Enron will have a 40 per cent stake each in
the joint venture, and Global Tele-Systems 20 per cent.
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Govt may plug
interim dividend loophole
New Delhi: The finance ministry is likely plug a loophole that allows companies to
circumvent the new dividend tax by declaring interim dividends. Various options are being
considered for this purpose, it is reported.
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Global
Trust Bank’s insurance plans
Hyderabad: With the Reserve Bank of India relaxing its guidelines on banks’
entry into insurance, Global Trust Bank is considering entering this business in both the
life and non-life segments. The bank is also planning to form an asset management company
to manage mutual funds.
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Interest-free
loan for Konkan Railway
Panaji: Indian Railways has decided to help the Konkan Railway Corporation through
a 10-year, interest-free loan. The loan will help KRC meet its annual debt servicing
commitment.
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Pharma
industry wants R&D push
New Delhi: Leading Indian pharmaceutical companies want the government to implement
the incentives for research and development as proposed in the Mashelkar Committee report.
A delegation representing them has chemicals and fertiliser minister Suresh Prabhu to
request an early implementation of the report.
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Demand
for tax cuts for indigenous cars rejected
New Delhi: The Union finance ministry has rejected an industry demand that
indigenously made cars be subjected to lower Central sales tax and excise duty. These
include the Tata group’s Indica, developed indigenously.
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