The Hindu Business Line : Friday, March 20, 2009

Inflation plummets to 0.44%
No respite for consumers as food prices stay high. New Delhi, March 19 The annual Wholesale Price Index-based inflation inched closer to zero in the first week of March, setting the stage for the Reserve Bank of India to cut interest rates ...

Import duty on soyabean oil scrapped: Pillai
New Delhi, March 19 The Government has done away with the 20 per cent customs duty on crude soyabean oil imports in order to keep it on par with imported palm oil that is currently allowed ...

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Rupee gains sharply as $ slides on Fed debt buyback plan
US central bank opens tap to purchase $1.25 trillion securities. Mumbai, March 19 The rupee staged a sharp recovery against the dollar on Thursday, appreciating by around 92 paise, riding on the greenback’s weakness in the overseas ...

No plans to exit fuel retail biz: RIL
Co makes ‘non-binding offer’ to IOC, BPCL, HPCL, Shell for joint venture. New Delhi, March 19 Reliance Industries Ltd (RIL), which is taking another look at its fuel retailing business model, has no plans to exit the ...

WPI inflation of 0.44% provides aam aadmi no solace
New Delhi, March 19 If the annual wholesale price index (WPI)-based inflation plunging to near zero is yet to be ‘felt’ by the ...

No fear of deflation, says Cabinet Secretary
New Delhi, March 19 The Cabinet Secretary, Mr K.M. Chandrasekhar, on Thursday brushed aside deflationary concerns, and said the fall in the rate of inflation to below one per cent may have more to do with the high base a year ago, than ...

SEBI seeks feedback on extending trading hours
NSE sought permission to align with Singapore trading. Capital markets regulator SEBI is of the view that there is a case for extension of trading hours on the stock exchanges, especially in the derivatives segment, and has issued a discussion ...

RBI wins important battle on regulation
UK’s FSA endorses ‘rules-based’ approach. New Delhi, March 19 The Reserve Bank of India has won an important intellectual battle over how to regulate the financial sector. It did not want principles-based regulation in India ...

Software vendors look to big defence contracts
‘Significant opportunities in communications space’. Mumbai, March 19 Software companies in India are anticipating a bonanza, with the country’s defence forces expected to dish out ICT orders worth $500 million (Rs 2,500 crore) ...

Economies! Be glad if you don’t catch his eye!
Chennai, March 19 If you know which country Rob Carnell, ING’s Chief International Economist, is looking at, there is a good chance that you can predict an economic recession or collapse in that country! Carnell says he has a pretty ...

Govt issues draft guidelines for auto loan disbursals
Strict norms to be followed for hiring recovery agents. Bangalore, March 19 The Department of Banking, Ministry of Finance, has come out with draft guidelines for banks on disbursing auto loans, which includes terms for repossession ...

New capacities in South may dampen prices
About 12 mt expected to go on stream by the year-end. Mumbai, March 19 Cement prices in the South may come under pressure with 12.3 million tonnes (mt) of additional capacity scheduled to go on stream ...

Auto component manufacturers to benefit from Centre’s move to fund bus purchase
Chennai, March 19 The recent announcement by the Centre to procure 15,000 buses worth Rs 4,800 crore under Jawaharlal Nehru National Urban Renewal Mission (JNNURM) has given a leg up to auto component manufacturers also. State ...

Consumer preference driving up prices of rice
Drop in arrivals from Andhra Pradesh buoys rates. Chennai, March 19 Higher support prices for paddy, increased consumer preference for branding and tight supplies have contributed to a hike in retail prices of rice. But consumers have a wide ...

Coalitions crowding out major parties
The Indian electorate has been making it clear from the 1990s that it is not for single-party rule. Politicians, particularly those from the two major national parties — the Congress and the BJP — have accepted this reality and ...

Above normal pre-monsoon showers likely
Thiruvananthapuram, March 19 International weather models are now indicating normal to above-normal pre-monsoon showers across most of the country with a likely ‘seasonal peak’ being scaled during the month of ...