Enron Mail

Subject:USIBC Daily News Update, October 13, 2000
Date:Fri, 13 Oct 2000 08:30:00 -0700 (PDT)

+ Industrial growth declined from 7.3% in August 1999 to 4.8% in August 2000.
+ India plans to remove American components from the Advanced Jet Trainers
that it is buying from Britain since US sanctions on defense related
equipment still exist.
+ Former Indian prime minister, P V Narasimha Rao, and former Union minister,
Buta Singh, have been sentenced to three years' rigorous imprisonment in the
Jharkhand Mukti Morcha? bribery case.

USIBC Daily News

October 13, 2000

October 13: India's rice exports (non-basmati) declined by approximately 80%
compared to the same season last year. The international market price for
India's non-basmati rice ranges from $230 to $240 per ton. Hindu Business
Line http://www.hindubusinessline.com/stories/071303b5.htm

October 13: Foodgrain production in India during the current season is
expected to be 102.7 million tons, lower by 1.2 million tons from the same
period last year due to heavy floods in West Bengal and Bihar, and severe
drought conditions in Gujarat. The Economic Times

October 13: India's first web-based entertainment channel, G-Slot.com, plans
to invest $2 million over the next one year to expand its operations. This
additional investment will enable G-Slot.com to launch its portal in all
metros and major towns. Business Standard <http://www.business-standard.com/<

October 13: Citibank Private Equity bought a 33% stake in the Delhi-based
Beehive Systems. Beehive Systems specializes in providing broadcast and
broadband solutions. The Financial Express http://www.financialexpress.com/

October 13: YadaYada, a New York-based company, announced a strategic
partnership with Infosys Technologies Ltd, an Indian IT consulting firm.
YadaYada provides integrated wireless services and has a personalized mobile
web portal. Infosys will establish a team of over 100 consultants in India,
United States and Europe to develop end-to-end wireless solutions within 12
months for YadaYada. The Times of India

Economic/General News
October 13: India's GDP growth decreased from 6.9% in the first quarter last
year to 5.8% in the same period this year. This is attributed to the slowdown
in manufacturing and agriculture sectors. The Financial Express <

October 13: Industrial growth declined in August, continuing the trend for
the year. The growth decreased from 7.3% in August 1999 to 4.8% in August
2000. The Times of India http://www.timesofindia.com/today/13busi14.htm

October 13: British Petroleum and Enron may start a project with Indian Oil
Corporation and Petronas of Malaysia to develop an LNG terminal and
hydrocarbon complex at Kakinada port in Andhra Pradesh. The Economic Times

Financial: Trade & Investment
October 13: Bayer AG will pay Ranbaxy Labs $5 million as the second
installment for the novel drug delivery system (NDDS) for anti-infective
drug, ciprofloxacin. Ranbaxy is developing ciprofloxacin for Bayer. Bayer has
now paid $15 million out of a total $65 million license fee it owes Ranbaxy.
The Economic Times http://www.economictimes.com/today/13comp06.htm

October 13: Honda Motor Company Ltd (HMC), the Japanese automobile and two
wheeler manufacturer, announced plans to set up a $155 million export base
facility in Gurgaon, near Delhi. HMC is already setting up another $111
million project in Gurgaon for manufacturing two-wheelers. Hindu Business
Line http://www.hindubusinessline.com/stories/14130703.htm

October 13: LG Electronics of South Korea will start manufacturing computer
monitors, LCD display panels and LCD projection televisions in India next
year. A new production line is already being set up for computer monitors. LG
Electronics is likely to invest $22 million in this project. Hindu Business
Line http://www.business-standard.com/today/corp8.asp?Menu=2

October 13: Sanyo will invest $8.8 million in BPL Sanyo Utilities, the merged
entity of BPL Refrigerators and BPL Sanyo Utilities and Appliances. The
equity infusion will raise Sanyo's stake to 25%. Business Standard

Information Technology
October 13: Mitsui & Co. will purchase a 10% stake in Zygox Software Pvt.
Ltd., a total IT solutions provider in Bangalore. Mitsui may also help Zygox
in marketing its automated fingerprint identification system product
worldwide. Hindu Business Line

October 13: The government ministries of information technology, telecom and
information/broadcasting are likely to be integrated into one ministry. The
Economic Times http://www.economictimes.com/today/13econ01.htm

October 13: e4e Inc., a U.S. based company has announced its plan to create
India's first technology holding company. e4e will support Internet
technology based infrastructure service companies. It also plans to finance
10-12 start-up companies in India over the next 3 years and assist them in
expanding globally. The Hindu http://www.hinduonline.com/

Insurance and Finance
October 13: Amex Travel Related Services launched its Gold Credit Card in
India. This card will offer credit limits higher than other products
available in India. Hindu Business Line

October 13: Former Indian prime minister, P V Narasimha Rao, and former Union
minister, Buta Singh, have been sentenced to three years' rigorous
imprisonment in the Jharkhand Mukti Morcha bribery case. The two were
subsequently released on bail to enable them to file an appeal against the
verdict in a higher court. The Times of India

October 13: The Indian government is planning to remove American components
from the Advanced Jet Trainers that India is buying from Britain. These
measures come in response to the delay in the lifting of defense related
sanctions that the US imposed after India's nuclear tests. The Times of India

October 13: India's largest housing and infrastructure financial institution
will start a financing program with annual disbursements worth $111 million
for providing housing for information technology professionals. It also plans
to develop commercial complexes, shopping plazas and clubs. The Economic
Times http://www.economictimes.com/today/13fina03.htm

The USIBC Daily News is a free service of the U.S.-India Business Council to
USIBC Members and affiliates.
USIBC provides Internet links to news stories for informational purposes
only, and makes no representation
of the accuracy of information posted on other organizations' websites.? To
add or remove your name from this
list, or with questions or comments, please contact USIBC via e-mail at

U.S.-India Business Council
Website: <http://www.usibc.com<;

1615 H Street NW
Washington DC 20062-2000
Phone 202 463 5492
Fax 202 463 3173

West Coast
477 Ninth Avenue, Suite 107
San Mateo, CA 94402
Phone 650 685 8790 xt. 16
Fax 650 343 2848