Saturday, November 14, 1998
Govt to cut non-plan expenditure by 10%
The Centre has decided to cut non-plan expenditure by 10 per cent to ward off fiscal pressure and contain the deficit within the target level of 5.6 per cent of the GDP.
MTNL may extend internet service
The Mahanagar Telephone Nigam (MTNL) plans to become a Category A internet service provider (ISP) by extending its services beyond the two metros of Mumbai and Delhi to cover the whole country. The Department of Telecommunications (DoT) had last week issued it a Category B ISP licence to operate in the two cities where it also provides phone services.
Panel proposes buyback to counter takeover
The takeover code review panel of the Securities and Exchange Board of India (SEBI) has decided to exclude the term `acquirer' for a company making a offer for buyback in terms of Sebi regulations. The five decisions, taken by the takeover panel on Friday, focus on the way defense mechanism of buyback of shares can be used by managements in the case of a takeover bid.
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