EXPRESSINDIA.COM The Indian Express Group _________________________________________________________________ The Financial Express daily newsletter Edition of Wednesday, December 29, 2004 _________________________________________________________________ ********************* THE FINANCIAL EXPRESS ********************* TODAY'S TOP STORIES ******************* Centre builds record cash surplus to check inflation In what could be a discreet strategy to rein in inflation, the Centre has piled up an astounding cash surplus of over Rs 40,000 crore in its account with the Reserve Bank of India. http://www.financialexpress.com/fe_full_story.php?content_id=78236 _______________________________________________________________ Terms set for Bhel stake sale The heavy industries department has agreed to the finance ministry�s proposal for a Bharat Heavy Electricals Ltd public offer, but has said that the sale of government equity should be less than 10%. http://www.financialexpress.com/fe_full_story.php?content_id=78237 _______________________________________________________________ Sebi likely to relax MF investor norm Market regulator Sebi is now understood to be mulling over making the single investor norm � which mandates a minimum of 20 investors in every mutual fund scheme with no single investor holding over 25% of total assets � applicable at the scheme level. http://www.financialexpress.com/fe_full_story.php?content_id=78238 _______________________________________________________________ Textile firms� debt less by a third The DRP introduced for the technically and potentially viable textile companies in September 2003 to unburden them from the high cost of servicing capital loans, has borne fruit. http://www.financialexpress.com/fe_full_story.php?content_id=78239 _______________________________________________________________ Bank margin raised for advances against shares In a move which reflects the growing concern over the rising stockmarket, the RBI on Tuesday increased the margin taken by commercial banks on all advances against shares/ financing of initial public offers /issue of guarantees to 50% from the existing 40%. http://www.financialexpress.com/fe_full_story.php?content_id=78235 _______________________________________________________________ /------------------------ advertisement ------------------------ No 1 Indian Matrimonials - 550,000+ members, 150,000+ photo profiles, 16,000+ successful matches! Register & Contact members for FREE!! http://ads.expressindia.com/adsnew/adclick.php?bannerid=400&zoneid=63&source=&dest=http%3A%2F%2Fwww.shaadi.com%2Findex.php%3Fptnr%3Dieom ------------------------ advertisement ------------------------/ Edits & Columns ******************* A step forward The most significant amendment to the Indian Patents Act is the deletion of section 5, which makes food, medicine, drugs and products of chemical reactions patentable, providing impetus to pharmaceutical/chemical industries having strong R&D. http://www.financialexpress.com/fe_full_story.php?content_id=78163 Made scapegoat by an unjust law It is said that law is an ass and that the kick of an ass is a nasty affair. The turn of events for the CEO of <i>Baazee.com</i> is probably a fitting illustration of this. Although he has been granted bail, the trauma and social embarrassment he was subjected to could have been avoided. Was he on the wrong side of law? http://www.financialexpress.com/fe_full_story.php?content_id=78162 Reduced to a paper tiger in less than a year This despite the fact that the FM was frank enough to admit that the �fiscal performance in the first half of the current year does not fully measure up to the specified benchmarks.� http://www.financialexpress.com/fe_full_story.php?content_id=78161 More in Edits & Columns at http://www.financialexpress.com/edits&columns.html _______________________________________________________________ Fe Insight ******************* Myths and fallacies about high prices http://www.financialexpress.com/fe_full_story.php?content_id=78168 Strike a balance on product patents http://www.financialexpress.com/fe_full_story.php?content_id=78169 Product patents: pharma sector optimistic about new opportunities http://www.financialexpress.com/fe_full_story.php?content_id=78172 More in Fe Insight at http://www.financialexpress.com/feinsight.html _______________________________________________________________ Economy ******************* Power ministry gets pro-active, to deal directly with states on IPPs http://www.financialexpress.com/fe_full_story.php?content_id=78186 Loss-making PSUs told to buy time from BIFR http://www.financialexpress.com/fe_full_story.php?content_id=78187 Andhra Pradesh calls all-party meet to discuss free power http://www.financialexpress.com/fe_full_story.php?content_id=78188 More in Economy at http://www.financialexpress.com/economy.html _______________________________________________________________ Politics ******************* BJP sets up calamity relief fund http://www.financialexpress.com/fe_full_story.php?content_id=78170 CPI-M pushes for Bill on rural bank http://www.financialexpress.com/fe_full_story.php?content_id=78180 Trade unions flay patents ordinance http://www.financialexpress.com/fe_full_story.php?content_id=78171 More in Politics at http://www.financialexpress.com/politics.html _______________________________________________________________ International ******************* Tsunami toll tops 50,000 http://www.financialexpress.com/fe_full_story.php?content_id=78211 Tsunami�s effect on economies & markets http://www.financialexpress.com/fe_full_story.php?content_id=78212 BMW China JV to recall cars for heating system flaw http://www.financialexpress.com/fe_full_story.php?content_id=78213 More in International at http://www.financialexpress.com/international.html _______________________________________________________________ News ******************* Tsunami effect: Calamity Relief Fund gets Rs 500 cr more http://www.financialexpress.com/fe_full_story.php?content_id=78182 Tourism sector unaffected: Renuka http://www.financialexpress.com/fe_full_story.php?content_id=78183 DoT warns ISPs against illegal routing of calls http://www.financialexpress.com/fe_full_story.php?content_id=78192 More in News at http://www.financialexpress.com/news.html _______________________________________________________________ ********************* CORPORATES & MARKETS ********************* Front Page ******************* Ranbaxy lines up mega R&D plan http://www.financialexpress.com/fe_full_story.php?content_id=78217 Ozone serves legal notice on HLL over Anti-marks http://www.financialexpress.com/fe_full_story.php?content_id=78218 Tatas keen to set up generating unit in Bengal http://www.financialexpress.com/fe_full_story.php?content_id=78219 More in Front Page at http://www.financialexpress.com/cm/frontpage.html _______________________________________________________________ Money & Banking ******************* Centurion mulls raising additional equity cap http://www.financialexpress.com/fe_full_story.php?content_id=78225 Nabard announces special package for the tsunami-hit http://www.financialexpress.com/fe_full_story.php?content_id=78226 Rates to be stable in short term: Purwar http://www.financialexpress.com/fe_full_story.php?content_id=78227 More in Money & Banking at http://www.financialexpress.com/cm/money&banking.html _______________________________________________________________ Markets & Commodities ******************* Sensex gains 50 pts to hit new highs http://www.financialexpress.com/fe_full_story.php?content_id=78231 Primary market raises over Rs 30,000 crore in 2004 http://www.financialexpress.com/fe_full_story.php?content_id=78232 MFs in chaos for want of regulatory clarifications http://www.financialexpress.com/fe_full_story.php?content_id=78233 More in Markets & Commodities at http://www.financialexpress.com/cm/markets&commodities.html _______________________________________________________________ Back Page ******************* Average mobile bill may drop by �08-09 http://www.financialexpress.com/fe_full_story.php?content_id=78204 Virtusa plans consolidation in hi-tech services, to tap new areas http://www.financialexpress.com/fe_full_story.php?content_id=78205 US-UAE free trade pact lures Indian cos to Dubai http://www.financialexpress.com/fe_full_story.php?content_id=78206 More in Back Page at http://www.financialexpress.com/cm/backpage.html **************************************************************************************** Visit us at http://www.expressindia.com for indepth coverage of news from around India, updated round the clock. 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