Sebi plans outfit

New Delhi, Oct. 26: To improve surveillance of the capital market, Sebi has proposed setting up a self regulatory organisation soon. “We are hoping to set up a body of market experts which would include retired members of Sebi, representatives of mutal funds and asset management companies who can carry out surveillance,” chairman M. Damodaran said.

Ore export

New Delhi, Oct. 26: The steel ministry has demanded a gradual phasing out of iron ore exports. “The current ore reserve will last for only 60 to 70 years. If the present level of ore exports continues we would have to borrow the mineral in future,” said steel minister Ram Vilas Paswan.

Guardian

New Delhi, Oct. 26: Finance minister P. Chidambaram has approved a proposal by US-based Guardian Industries Corp to set up a glass manufacturing facility at an investment of about Rs 315 crore.

Peerless plan

Calcutta, Oct. 26: The Peerless General Finance and Investment Company, which is in its platinum jubilee year, will create an asset base of Rs 1,000 crore in Bengal and some other states in the next five years, managing director S.K.Roy said.

Core sector

New Delhi, Oct. 26: The finance ministry is likely to start consultations next month with the RBI, Sebi, merchant bankers and multi-lateral agencies on innovative financial instruments to woo private sector investment in infrastructure.