The Telegraph
Since 1st March, 1999
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Business Briefs

Inflation at yearís highest

New Delhi, Feb. 9: An 11 per cent increase in the price of vegetables pushed the rate of inflation to this fiscalís highest at 4.61 per cent for the week ended January 25 against a mere 1.29 per cent in the year-ago period. Compounding the woes was the substantial price rise in food and non-food articles, which pushed up the point-to-point price change, as measured by the wholesale price index, by 0.19 per cent to tick a 56-week high against 4.42 per cent in the previous week.


New Delhi, Feb. 9: The year-long standoff between British Gas and Oil and Natural Gas Corporation over operatorship of Panna-Mukta and Tapti oil and gas fields has been resolved with the British firm agreeing to share the CEOís post in the joint venture on rotational basis.

Uco Bank net

Calcutta, Feb. 9: Uco Bank has announced a 30 per cent rise in its third quarter net profit at Rs 130 crore against Rs 100 crore in the previous corresponding period. Operating profit grew by more than 41 per cent during the quarter under review to Rs 192 crore from Rs 136 crore last year.

PC exports

New Delhi, Feb. 9: Exports of computer hardware and related parts registered a growth of 50 per cent in 2001-02 at Rs 1,800 crore, according to an estimate by the Electronics and Software Export Promotion Council.

Apollo Tyres

Calcutta, Feb. 9: Buoyed by a $ 35-million loan from IFCI, Washington, Apollo Tyres India Limited is aiming to bring down its borrowing cost by 50 per cent from the current levels and is confident to cross a turnover of Rs 2,000 crore during the current financial year.

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