Bizbits

Imported palm oil closed Rs 4 higher at Rs 358 per 10 kg exclusive of tax on fresh bulk buying, uptrend in dollar value followed by smart recovery in the international market. In the global market palm oil rose to $682.50 for spot delivery. Forward deliveries were quoted at $670/645 per tonne.

Castor oil gained by Rs 10 at Rs 418/430 per 10 kg on fresh overseas enquiries. Castorseed ready lifted by Rs 48 at Rs 1,904/1,910 per quintal in sympathy. In Rotterdam castor oil was quoted firm at $1100 per tonne.

Kohli, Gupta take over as LIC MDs

MUMBAI: G P KOHLI and Y P Gupta are the new managing directors of the LifeInsurance Corporation of India. They took charge on August 7, 1998 at "Yogakshema" , the corporate headquarters of the LIC in Mumbai. Kohli was hitherto the zonal manager of the Western Zone of the LIC. Born on June 15, 1940, Kohli holds a post graduate degree in English literature with specialisation in Institute of Management, Ahmedabad. He started his career with the LIC as a direct recruit officer in 1964 after a brief stint as a lecturer in english in Punjab.

Kohli has won the Rajiv Gandhi National Unity Award 95 for excellence in the field of public relations, contributions to journalism and insurance and the Media India Chandram award for 1995 as the best communicator of the year. He has also visited Japan. Gupta was the chief executive, LIC Housing Finance Ltd, one of the subsidiaries of the LIC. Born on October 15,1940, Gupta is the holders of post-graduate degree. Gupta too started his career as a direct recruit officer in 1964. He has held many important positions in various parts of the countrywith elan and merit during his long career spanning more than three decades. He was also Sr Divisional Manager, Gorakhpur, Sr Divisional Manager, Agar.