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Business Briefs

Opec to hike output

Vienna, Jan. 12: The Organisation of Petroleum Exporting Countries (Opec) energy ministers today called for an increase in oil production to make up a shortfall of two million barrels per day from strike-hit Venezuela in a bid to stop spiralling oil prices. The supply squeeze has nevertheless sent prices above Opecís $ 22-28 per barrel target price. Crude prices surged above $ 30 a barrel in London, even reaching $ 33 in New York recently before easing back slightly.

Inflation rate

New Delhi, Jan. 12: Increased prices of food grains, vegetables and fruits pushed up the inflation to 3.34 per cent for the week ended December 28.

Coca-Cola plan

Palakaad, Jan. 12: Coco-Cola will invest about $ 100 million in the next one year, of which $ 45 million would be in south India.

Birla Corp

Calcutta, Jan. 12: Institutions led by UTI and LIC have substantially reduced holding in the M. P. Birla flagship, Birla Corporation, in the past nine months.


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