The Telegraph
Since 1st March, 1999
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Business Briefs

Forex reserves decline

Mumbai, Aug. 9: After an upward swing for the previous few weeks, Indiaís foreign exchange reserves have recorded a fall of $204 million at $84,700 million during the week ended August 1 following the contribution to reserve tranche position with International Monetary Fund and revaluation in gold. The foreign currency assets of the country declined by $133 million at $81,067 million during the reporting week, according to the RBIís weekly statistical supplement.

Haldia dock

Calcutta, Aug. 9: Haldia dock complex of Calcutta Port Trust has handled record cargo of 2.92 million during the month of July 2003, 19.36 per cent higher over the same month previous year. Commodities that contributed to the growth were POL, LPG, iron ore, coking coal and containers.

Bearings boom

Calcutta, Aug. 9: The ball bearings industry is hopeful of an early recovery due to growth in the manufacturing and automotive sectors. The industry, which has two distinct markets, would achieve good growth in the coming years, J. P. Goyal, president of Eastern India Ball Bearing Merchants Association, said.

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