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Business Briefs

Inflation slips to 3.4 %

New Delhi, Dec. 15: Inflation fell marginally by 0.05 per cent to 3.4 per cent for the week ended November 30 despite a massive downward pressure exerted by vegetable prices. The index was 3.45 per cent in the previous week and 2.14 per cent in the year-ago period. Though some primary items became cheaper, the slide in inflation, as measured by wholesale price index (WPI), was to a great extend influenced by a sharp price increase in certain manufactured products, which is the heaviest in the basket.

SBI equity

New Delhi, Dec. 15: State Bank of India (SBI) is believed to have approached the government for allowing it to treat global depository receipts (GDR), comprising about 7 per cent of the equity capital, separate from the overall foreign investment holding now capped at 20 per cent for PSU banks.

Nestle royalty

New Delhi, Dec. 15: The government has rejected dairy major Nestle India’s plea for payment of 3.5 per cent royalty on finished products imported from other Nestle companies abroad, saying royalty is not permissible on imported items.

Bike sales

New Delhi, Dec. 15: A booming motorcycle market moved domestic two-wheeler sales up by 22.3 per cent during the first eight months this fiscal even as scooters and mopeds continued to ride downhill.

Phone users

New Delhi, Dec. 15: The subscriber base of private telecom basic service operators in the country has touched about 8.96 lakh as on November 30, with the Bharti group garnering 2.96 lakh, according to the data by Association of Basic Telecom Operators (ABTO).


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