Forex reserves rise

Mumbai, Jan. 22: India?s foreign exchange reserve rose by $266 million during the week ended January 14, after a drop over $2 billion a week earlier. The increase, mainly due to revaluation of international currencies, led the foreign exchange reserves to $1,29,378 million for the period under review, the Reserve Bank of India said in its weekly statistical supplement. Last week, the reserves were down by $2,066 million, driven largely by revaluation of international currencies. The foreign currency assets also grew by $252 million to touch $1,23,374 million, the RBI said.

Selloff meet

New Delhi, Jan. 22: Heavy industries minister Santosh Mohan Dev will meet finance minister P. Chidambaram on January 25 to work out the modalities for divestment in Maruti and Bhel.

The government is likely to sell 10 per cent of Bhel shares and 5 per cent of Maruti?s equity, sources close to the divestment process said.

baazee rates

Chennai, Jan. 22: Internet auction site baazee.com today said it was revising the commission rates for goods sold through the website from next month to a uniform 5 per cent of the value of transaction. The e-commerce website, which is part of the US-based eBay, would also allow sale of products from India to anywhere in the world, Samarjeet Singh, head of Baazee Academy said.