FIRST GULF BANK WINS DUBAI QUALITY AWARD

President promulgates ordinance to amend Customs Tariff Act

New Delhi, January 20, 2003

The President has promulgated an Ordinance amending the Customs Tariff Act, 1975 with prospective effect from February 1, 2003 to enable the trade, commerce and industry to ready themselves to the emerging new commodity classification code. The Act was last amended in 1985. More

OIL PSUs RECORD Rs. 23,250 CRORE PROFIT IN 2002-03 MARKING AN INCREASE OF 83 PER CENT

NPMP AWARDS GIVEN AWAY FOR EXCELLENCE IN PETROLEUM SECTOR

Ram Naik, Minister of Petroleum & Natural Gas complemented the 12 oil PSUs under the Ministry of Petroleum & Natural Gas for outstanding performance in the year 2002-03. Describing the year as a watershed for the oil industry, Naik said that the sector was deregulated on 1.4.2002 with the dismantling of Administered Pricing Mechanism (APM) More

Mustafa Sultan Exchange Company - State Bank Alliance Facing Trouble

The State Bank of India is not likely to renew the agreement for money exchange business with a leading BUSINESS partner in Oman for unknown reasons. In a drastic decision, SBI senior manager left the country in a hurry giving rise to speculation that the SBI decision to open its own branch in Muscat has upset local partners. KM learns that the agreement with SBI may not be renewed after September 2004 as part of a policy decision to reduce exposure to risky money exchange business.