ELF GAS, CITICORP AMONG 55 PROPOSALS CLEARED BY FIPB

Article Abstract:

Foreign investment proposals of Elf Gas, Citicorp Finance India (CFI) and GE Plastics have been approved by Foreign Investment Promotion Board (FIPB). The FIPB has approved nearly 55 proposals. These proposals involve an increase in foreign equity or equity capital. The investments in these proposals is estimated at over Rs650 crore. CFI, a holding firm of CitiBank has obtained approval from FIPB to increase its capital base by $10 million to $50 million. (gs)(vr)

Natural Gas, Crude Petroleum and Natural Gas Extraction, Foreign Investment Regulations, Foreign investment laws, Citicorp, GE Plastics, Elf Gas

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RE CLOSES HIGHER AT 42.31

Article Abstract:

The rupee increased to 42.31/32 against the dollar on October 12, 1998 (42.34/35 on October 9, 1998). The rupee opened at 42.39/41 on the morning of October 12, 1998. Banks sold dollars and consequently the rupee appreciated. The appreciation of the rupee was stopped by the State Bank of India with the purchase of dollars. (rk)

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RUPEE HOVERS AT 42.5

Article Abstract:

The rupee closed at 42.495/500 against the dollar in the foreign exchange market on February 1, 1999. The State Bank of India was bidding at 42.50 and many exporters were seen selling with not much demand for dollars. (khr)

General services, Forecasts, trends, outlooks, Exchange Rates

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