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Business Briefs

Inflation rises to 3.14%

New Delhi, Nov. 17: Inflation continued to rise for the third consecutive session by another 0.12 per cent to 3.14 per cent for the week ended November 2, mainly due to costlier primary items. Point-to-point inflation, measured by wholesale price index (WPI), rose from 3.02 per cent a week ago. WPI rose marginally by 0.1 per cent to 167.4 from 167.3 even as prices of fuels and manufactured items stood firm and the index was 162.3 in the previous year.

Spice foray off

New Delhi, Nov. 17: SpiceCorp has deferred its plans for acquiring an international long distance telephony licence, for the time being, owing to factors such as uncertainty in the interconnect arena, lack of clarity in regulatory environment and multiple entrants in the industry.

IA fleet

New Delhi, Nov. 17: The issue of the acquisition of 43 aircraft by Indian Airlines would be discussed by the Cabinet Committee on Security (CCS) before the government allows the domestic carrier to go ahead with its fleet expansion plans, official sources said today. The IA board has recommended acquisition of 43 planes from European aircraft manufacturer Airbus Industrie, at a cost of over Rs 10,000 crore.

NBFC norms

New Delhi, Nov. 17: Non-banking finance companies, whose aggregate assets touched Rs 53,878 crore as on March 31, 2001, have been warned of action by the RBI if they failed to submit their returns.

Wipro focus

Bangalore, Nov. 17: Wipro chairman Azim Premji today said West Asia is a critical component for the company’s global expansion strategy with it services market estimated to be worth $ 5 billion and growing at a healthy rate.


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