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Forex reserves at $ 69 bn

Mumbai, Dec. 28: The countryís foreign exchange reserves recorded a whopping rise of $ 1,073 million to cross a record level of $ 69 billion mark during the week ended December 20 due to fresh inflows, export remittances and revaluation of the euro vis-a-vis the dollar. The forex reserves jumped from $ 68,435 million to $ 69,508 million in the reporting period, according to RBIís weekly statistical supplement issued here today.

Jindal Strips

New Delhi, Dec. 28: Jindal Strips has hired Ernst & Young (E&Y) as a part of its restructuring exercise to create a focussed stainless steel company. It has also appointed law firms Amarchand & Mangaldas and Suresh A. Shroff & Co to consider the legal tenability of the restructuring proposed by E&Y.

Anti-dumping

New Delhi, Dec. 28: The government has imposed final anti-dumping duties on all imports of vitamin AD3 500/100 and provisional duty on imports of caustic soda from China.

United Airlines

Chicago, Dec. 28: United Airlines filed a motion in US bankruptcy court on Friday seeking to scrap labour agreements as it aims to slash costs, but said that leaders of four of its six unions had agreed to pay cut deals.

Devon move

Calcutta, Dec. 28: Devon Innovations Ltd (DIL), Bangalore has taken over Ormed India. DIL has also been appointed sole distributor for all products of Ormed GmbH and EMPI of Minneapolis, USA.


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