The Telegraph
Since 1st March, 1999
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Business Briefs

Exports up 9% in four months

New Delhi, Sept. 1: The country’s exports grew by over 9 per cent to $17.78 billion in the first four months of this year, but a steep 23 per cent rise in imports widened the trade deficit. In July, exports grew by 5.75 per cent to $4.69 billion, while imports were valued at $5.7 billion, up by 17 per cent, according to the official figures. During April-July this fiscal, imports had surged by 23 per cent to $22.72 billion mainly due to increase in non-oil imports, thus more than doubling the trade deficit to $4.94 billion.

Foreign fund

New Delhi, Sept. 1: The government today approved 17 foreign direct investment proposals totalling Rs 588.54 crore, including that of CDC-PTL Holdings’ plans to acquire Punjab Tractors’ shares worth Rs 452 crore.

Oracle official

New Delhi, Sept. 1: Dipankar Sanyal, one of the top officials of Oracle India, today resigned from the company. A company spokesperson said, “Dipankar Sanyal, director, public service, is leaving to pursue other opportunities.”

Asset firm

Mumbai, Sept. 1: The Reserve Bank has granted licence to Asset Reconstruction Company of India Ltd (ARCIL), promoted by ICICI Bank, State Bank of India and Industrial Development Bank of India.

Polymer prices

Mumbai, Sept. 1: Reliance Industries today raised the prices of polymer, polyesters, polyethelene therapthelate, and fibre intermediates for September.

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