The Telegraph
Since 1st March, 1999
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Business Briefs

Inflation falls to 6.03%

New Delhi, May 18:Cheaper fruits, petrol, diesel and manufactured products pushed down the rate of inflation by 0.11 per cent to 6.03 per cent for the week ended May 3 against a mere 1.56 per cent in the previous corresponding period a year ago. Continuing its free fall for the third consecutive week, the point-to-point wholesale price index (WPI) fell from the previous week’s level of 6.14 per cent, even as price of vegetables shot up during the reported week. The WPI fell by 0.2 per cent to 172.4 points from 172.8 a week ago.

EPF rate

Calcutta, May 18: Union labour minister Sahib Singh Verma today ruled out any cut in the rate of interest on Employees Provident Fund (EPF). The minsiter added that the Employees Provident Fund Organisation was looking for ways to ensure better return on EPF to sustain the current rate of 9.5 per cent.

Infosys centre

Bangalore, May 18:Infosys Technologies plans to invest around $ 9.7 million (Rs 48 crore) for its business continuity and disaster recovery centre at Mauritius. The Bangalore-based IT major, last year had committed $ 25 million for the disaster recovery centre, expected to be completed in three years.

Nalco selloff

New Delhi, May 18:Months after putting on hold the selloff process in aluminium major Nalco, the disinvestment ministry has restarted work on getting regulatory clearances for public issue of 30 per cent shares.

Petronet loan

New Delhi, May 18:The Asian Development Bank (ADB) will give Petronet LNG a $ 75-million (Rs 375 crore) loan and partial credit guarantee for the firm’s Rs 2,700-crore Dahej project.

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