Sunday, July 26, 1998
IRA chief moots MNCs' entry
Even as the BJP-led government is still debating the possibility of allowing foreign equity in domestic insurance joint ventures, N Rangachary, chairman, Insurance Regulatory Authority, has strongly pleaded for the entry of foreign insurance companies following the liberalisation of the industry.
Housing cos may be allowed to raise ECBs
The Union government is planning to allow private housing companies to raise funds abroad for financing housing projects. Union minister for urban affairs and employment Ram Jethmalani said the government's decision to build 2 million houses per annum would help the key industries to stage a revival in a short span.
UK firm to invest Rs 700 crore
The British FI Group Plc, which owns over 97% equity in its Indian software outfit IIS Infotech, plans to invest around Rs 700 crore in the country. The amount, to be deployed over three years, will fund new acquisitions and projects in the Indian market.
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