Monday, August 24, 1998
RIBs to garner over $4 bn despite poor US response
The collection through the Resurgent India Bonds (RIB) is expected to cross the $ 4 billion mark (around Rs 16,800 crore) when the issue closes on Monday. Although the RIB issue initially got only lukewarm response, non-resident Indians, especially in the Middle East, have lapped up the bonds even on Sunday.
IFCI to raise Rs 6,000 cr, plans Rs 3,000 crore bond issue
The Industrial Finance Corporation of India plans to raise Rs 6,000 crore in 1998-99, including Rs 3,000 crore through a public issue of bonds, to fund projects, chiefly infrastructure. The amount will be raised in tranches through private placements and partly through a public issue of bonds.
EC spikes Centre's export schemes
Four of the country's export promotion schemes have been struck down by European Commission on grounds that they were indirect subsidies to exporters that hit the European industry. The schemes amount to financial contributions by government, which sacrifices duties, the commission ruled on complaints against the schemes.
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