Bizbits

FIIs turn net sellers againMUMBAI: Net investments by FIIs in equity instruments turned negative in the week to March 20 but was at a health...

FIIs turn net sellers again

MUMBAI: Net investments by FIIs in equity instruments turned negative in the week to March 20 but was at a healthy 29 million in debt instruments during the same period. FIIs were net sellers to the tune of 6.4 million in equity instruments during this period. The net FII investment in March has gone up to 107 million as against a total of 198.6 million in February. The cumulative net investment by FIIs till date now stands at 9.2 billion.

Travel expo in city

MUMBAI: More than 100 exhibitors will participate in the Travelogue 8217;98, the first ever international travel and tourism exhibition to be organised by the Travel Agents Association of India at Nehru Centre, Mumbai from March 26 to 29, 1998. Pramod Navalkar, Minister of Trade, Commerce amp; Cultural Affairs, Government of Maharashtra, will inaugurate the exhibition while Subrahmanyam, chief secretary, Government of Maharashtra, will be the chief guest.

Silver prices risefurtherpMUMBAI: Silver prices zoomed further while gold also gained sharply at the local bullion market on continued firm global advice today. Silver .999 and raw registered a smart gain of Rs 130 and Rs 100 to Rs 8560 and Rs 8430 per kg respectively while the standard mint and 22 carat gold quoted higher by Rs 40 per ten gm to Rs 3990 and Rs 3690 respectively. Sources at the bullion market said that both the precious metals quoted high in the international market for the last couple of days. Meanwhile, the ten tola gold bar per biscuit shot up by Rs 500 to Rs 46,900 per biscuit.

ABC ties up with NSK of Japan

MUMBAI: Antifrication Bearings Corporation Ltd ABC, the premier manufacture of rolling bearing, has forged a strategic technical alliance with NSK of Japan, the world8217;s second largest manufacture of ball and roller bearings. ABC and NSK have joined hands to manufacture a range of ball and tapered roller bearings, which will vitalise country8217;s automotive and engineeringindustries. According to ABC managing director Pradip Patel, NSK will help ABC to upgrade its technology and introduce new project lines to meet the stringent needs of Japanese and other international customers. NSK is also studying the Indian market in detail with ABC8217;s assistance.

Canada to sign 2 MoUs

MUMBAI: Two MOUs are likely to be signed between Canada and India for technological cooperation in rural telecommunication expansion during the first ever week-long visit of Canadian governor general Romeo Leblanc here on March 26. Johanne Forest, third secretary of Canadian high commission, told reporters on Tuesday that the high level trade and business delegation accompanying visiting governor general would make the presentation of the advanced and low cost technology available with Canada.