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Business Briefs

Gold prices plunge

Mumbai, Feb. 11: Gold prices dipped Rs 80 on the bullion market today following fresh bouts of heavy stockists' selling in view of a steep fall in overseas prices. Standard gold opened weak at Rs 5,850 and continued to fall sharply, before ending at Rs 5,830, a setback of Rs 80 over Monday’s close of Rs 5,910. In New York, gold futures plumetted by $ 6.30 per ounce to $ 364.20 on Monday on receding war fears.

Export norms

New Delhi, Feb 11: The Directorate General of Foreign Trade (DGFT) has notified additional standard input-output norms for 17 new export items and amendments to the norms for another 33 export items. Fixing of these norms will facilitate the issuing of advance licenses for these additional items without being referred to the DGFT headquarters.

Sebi directive

Mumbai, Feb. 11: The Securities and Exchange Board of India has directed small stock exchanges to change the management structure of their subsidiaries by appointing a chief executive officer not holding any position in the parent company.

SCI selloff

Mumbai, Feb. 11: The Great Eastern Shipping Company has bowed out of the race to acquire a 51 per cent stake in Shipping Corporation of India (SCI), a day before it was to conduct a due diligence of the third quarter results of the state-owned entity.


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