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Business Briefs

Inflation zooms to 4.42%

New Delhi, Feb. 2: The inflation rate touched this fiscalís highest at 4.42 per cent during the week ended January 18 because of the increase in the prices of petrol, diesel, primary and manufactured products. The reporting week saw a rise of 0.50 per cent in the wholesale price index from 3.72 per cent in the previous week. It was 1.39 per cent a year ago.

ADR proceeds

Mumbai, Feb. 2: The Reserve Bank of India has allowed Indian firms to retain the sale proceeds of American or global depository receipts in foreign currency.

HPCL selloff

New Delhi, Feb. 2: The disinvestment ministry is likely to invite initial bids for a 34-per cent stake in Hindustan Petroleum Corp (HPCL) by February 10.


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