COMPANIES

• Reliance group to set up a biotech company
• BG Energy to enter into technology sector
• Oberoi Group to set up hotels in Morocco
• Cummins India plans new acquisitions from 2003
• Shaw Wallace restarts sales of 'Royal Challenge'
• JD Edwards to set up 100 per cent subsidiary in India
• M&M to focus on export of utility vehicles
• Enron likely to seek arbitration against MSEB
• Sterlite wants Balco to be cheapest aluminium producer
• Glaxo India, Merial extend marketing pact
• Alstom notches Rs 12 crore turnaround profit

GENERAL

• NRIs may be allowed dividend repatriation
• India ranked 22nd most corrupt nation in the world
• Forex reserve goes up to $41.8 billion
• Nabard to offer Rs 1000 crore for rural funding
• Inflation rate drops to 8.5 per cent, despite food prices

CAPITAL MARKET

• Sebi to probe Morgan Stanley in price swings

PEOPLE

• Mr. SC Krishna takes over as new Balco MD