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Business Briefs

Two win Nobel for economics

Stockholm, Oct. 8: US economist Robert Engle and Britain’s Clive Granger have won the 2003 Nobel economics prize, the Royal Swedish Academy of Sciences said on Wednesday. “This year’s Laureates devised new statistical methods for dealing with two key properties of many economic time series: time-varying volatility and non-stationarity,” the Academy said in its citation for the 10 million crown ($1.3 million) prize.

Centurion net

Mumbai, Oct. 8: Centurion Bank Ltd has posted a net profit of Rs 1.94 crore for the second quarter ended September 30 as against a net loss of Rs 13.40 crore year-on-year.

Uco Bank rate

Calcutta, Oct.8: Uco Bank has reduced interest rates on domestic term deposits from October 1. For the first time the bank has decided to accept deposits of a minimum of Rs 15 lakh for a period of seven to 14 days.

Coffee boost

New Delhi, Oct. 8: The government has extended tax incentives to coffee and rubber industries akin to those provided to the tea sector. Necessary amendments have been carried out in section 33 AB of Income Tax Act.

Deloitte move

Mumbai, Oct. 8: Deloitte, the global professional services organisation, which is known in different names like Deloitte Touche Tohmatsu, Deloitte & Touche and Deloitte Consulting around the world, has renamed itself Deloitte.


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