Enron Mail

From:ksherwood@uschamber.com
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Subject:USIB Daily News for October 12, 2000
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Date:Thu, 12 Oct 2000 12:05:00 -0700 (PDT)

+ Reliance, Prudential-ICICI and HDFC-Standard Life are expected to receive
licenses from the Insurance Regulatory and Development Authority (IRDA) by
the end of this month.
+ The BJP president told US ambassador Richard Celeste that India was
committed to creating a national consensus in favor of signing the
Comprehensive Test Ban Treaty (CTBT).
+ The Carlyle Group is setting up operations in India to investment $100
million in technology, Internet and telecom sectors.
USIBC Daily News
October 12, 2000

Agro/Patents/Pharma
October 12: The Centre for Monitoring the Indian Economy (CMIE) lowered
estimates for agricultural growth from 4.2% to 1.3%. The decline in the
growth of India's agricultural sector is expected to affect fast moving
consumer goods (FMCG) companies. Business Standard <
http://www.business-standard.com/<

Broadcasting/Entertainment
October 12: Vijay Television Ltd. is looking for a strategic alliance for
children's programs. The Tamil language channel already has alliances with
NDTV, Padmalaya (for mythological content), and Discovery channel (for
infotainment programs). Financial Express <http://www.financialexpress.com/<;

Communications
October 12: The Department of Telecom (DOT) requested the Telecom Regulatory
Authority of India (TRAI) to allow basic telephone companies to provide
limited mobile phone services. DOT suggested an additional entry fee or
license fee for providing limited mobility to these fixed lines service
providers. The Economic Times <
http://www.economictimes.com/today/12econ14.htm<;

October 12: The Delhi High Court has directed the government to submit
documents relating to the contract for the controversial Sankhya Vahini
telecom project. The government earlier took a decision to approve the Rs
1,300 crore ($283 million) telecom project. This project includes setting up
of a broadband network throughout India. According to the government plan, a
10,000 km network would be laid within a year. The Economic Times <
http://www.economictimes.com/today/12econ07.htm<;

Economic/General News
October 12: International rating agency Standard & Poor's lowered its
"positive" rating outlook for Reliance Industries, Larsen & Toubro Ltd and
TELCO Ltd. In contrast, Moody's Investors Services, another international
rating firm has assigned a "positive" rating to National Thermal Power
Corporation (NTPC) owing to its dominant industry position. The Indian
Express <http://www.expressindia.com/ie/daily/20001012/ibu12043.html<;

Energy
October 12: Shell, Reliance and Enron approached Oman LNG to establish an LNG
supply agreement for their upcoming LNG gasification terminals in India. The
Economic Times <http://www.economictimes.com/<;

Financial: Trade & Investment
October 12: Hindustan Lever, a Unilever company, is making an open offer to
the minority shareholders of International Bestfoods' Indian subsidiary. This
follows Unilever's global acquisition of International Bestfoods Inc.
Business Standard
<http://www.business-standard.com/today/corp6.asp?Menu=2<

October 12: The Carlyle Group, one of the world's largest private equity
investors, is setting up operations in India to investment $100 million in
technology, Internet and telecom sectors. The Carlyle group has already
invested in seven new economy companies in India.
The Economic Times <http://www.economictimes.com/<;

October 12: U.S. based Unifrax Corporation (UCL), a leading global
manufacturer of ceramic fiber products, is increasing its stake in Orient
Cerlane from 59% to 74%. Unifrax currently holds stake in Orient Cerlane
through its UK based subsidiary. The Economic Times <
http://www.economictimes.com/<;


Information Technology
October 12: The Indian government is likely to remove import duty on certain
computer hardware items. Finance Minister Sinha did not agree to demands of
the Information Technology Ministry for allowing free import of all computer
hardware items. Financial Express <http://www.financialexpress.com/<;

Insurance and Finance
October 12: Reliance, Prudential-ICICI and HDFC-Standard Life are expected to
receive licenses from the Insurance Regulatory and Development Authority
(IRDA) by the end of this month. While Reliance is expected to obtain a
license for non-life insurance, it applied for both life and non-life
sectors. Prudential-ICICI and HDFC Standard Life has only applied for life
insurance. The Economic Times <http://www.economictimes.com/today/bn04.htm<;

Political/International
October 12: The Bharatiya Janata Party president told US ambassador Richard
Celeste that India was committed to creating a national consensus in favor of
signing the Comprehensive Test Ban Treaty (CTBT). Business Standard? <
http://www.business-standard.com/<

October 12: The supreme court of India criticized state governments of
Karnataka and Tamil Nadu for surrendering to demands of Veerappan, an
extremist who kidnapped a famous movie actor recently. The court asked the
government to provide details of the meetings between both state chief
ministers before agreeing to release 51 associates of Veerappan. The
three-judge jury also asked whether the state governments had an alternate
plan to release the 73-year old matinee idol who was kidnapped on July 30.
The Indian Express <
http://www.expressindia.com/ie/daily/20001012/ina12011.html<;

Transportation/Infrastructure
October 12: The Indian government has decided to include an additional 5,694
km of existing roads in the national highway network. The national highway
cover will become 57,704 km. The cost of upgrading the 5,694 km of road to NH
standards would cost Rs 7,000-Rs 8,000 crore ($1.5-1.7 billion) over a period
of 3 years. The Economic Times <
http://www.economictimes.com/today/12infr01.htm<;

October 12: Ispat Energy, a captive power generation company, plans to sell
87 mw of power to private companies near its Dolvi steel complex in Raigad,
Maharashtra. Financial Express
<http://www.financialexpress.com/<;

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