Forex reserves rise 17 pc in 1999-2000, cross $ 38 billion
Foreign exchange reserves of the country have jumped by $ 503 million to $ 38.036 billion in the week ended March 31, 2000, compared to the previous week.



Delay in rating upgrade hard to explain: RBI
The Reserve Bank of India (RBI) said on Saturday it was difficult to explain a delay in upgrading India's credit rating to investment grade by international rating agencies.



Too many players spoil online exchanges
Just a few months back, Internet Capital Group Inc., was a leader in the hot sector of the Internet aiming to build business-to-business shopping exchanges online.



Other headlines
Govt kicks of Rs 1,17,000 borrowing programme
Bhandari praises strides in atomic and space technologies
BIFR, SICA roles under review
SEZs must be freed from labour laws -- ESC
Vijaya Bank to come out with public offer to raise Rs. 100 cr
Bizbits
Oil prices fall to lowest in five months
Sony Music, BMG Entertainment plan to start selling digital music on Web
Govt to come up with IT action plan soon
Bleeding biscuit industry faced with over 30,000 lay-offs
Hotmail founder Bhatia rolls high-tech dice
Satyam loss widens to $ 4.58 mn
Delay in rating upgrade hard to explain -- RBI
Plantation cos prefer closure to Sebi norms