* The Reserve Bank of India has finally allowed foreign institutional investors (FIIs) to participate in the trading of all derivatives products. They can now leverage in the derivatives market without having an underlying position in the cash market.
Till now, foreign institutional investors could only invest in index futures and were allowed to invest in the derivatives market only up to their exposure in the cash market.
* The Cabinet this week approved in principle, complete decontrol of sugar trade during the next fiscal after futures trading becomes operational in November 2002.
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This implies the existing levy sugar system and quota release mechanism will be abolished. Under the current system, sugar mills are required to sell 15 per cent of their production to the Government at administered rates which are below market prices.
* Coca-Cola turned profitable in 2001 for the first time since it re-launched operations in India in 1993. The company achieved a break-even in its annual turnover during 2001 and ended the year with a small surplus. The company clocked a turnover of Rs 3700 crore in 2001. However being an unlisted company, profit figures were not disclosed.
* The race for acquiring the 85 per cent controlling stake in the Dabhol Power Company just got hotter with the Reliance group and global energy giant, British Gas submitting an expression of interest. The total number of parties interested in picking up the controlling stake has gone up to eight. TotalfinaElf, Gaz de France and Shell have also expressed interest.
* Tata Consultancy Services , the country