Inflation rises to 4.14%

New Delhi, July 22: The rate of inflation rose marginally to 4.14 per cent in the week ended July 9, mainly due to costly food and non-food products and minerals. The petrol and diesel prices raised last month is yet to have their full impact on the inflation rate. The point-to-point wholesale price index inflation rose by a marginal 0.05 per cent from the previous week's 4.09 per cent. It was as high as 7.44 per cent a year ago.

Merck returns

New Delhi, July 22: Merck & Co, the global pharmaceutical company, today announced its return to India after more than two decades. It has started operations of the wholly owned subsidiary, MSD India Pvt Ltd, said the firm's managing director, Leonard Tauro.

ICICI Bank

New Delhi, July 22: ICICI Bank today tied up with Europe's financial power-house, Fortis, for offering asset and wealth management, estate planning and corporate services to non-resident Indians worldwide. It is a non-equity strategic tie-up.

Essar Ship

Mumbai, July 22: Essar Shipping has registered a quantum leap in its net profit at Rs 110.37 crore for the first quarter ended June 30 against Rs 30.37 crore a year ago. Total income increased to Rs 225.77 crore from Rs 193.82 crore last year.

Rane Brake

Chennai, July 22: Rane Brake Linings Limited, a manufacturer of friction material, today said it has picked up a 65 per cent stake in Hyderabad-based Soubhagya Diecast Limited, said L. Lakshman, CMD of Rane Brake Linings.