Inflation rate at a new low

New Delhi, Aug. 26: The rate of inflation dropped to a new low of 3.13 per cent for the week-ended August 13 ' its lowest in the last three years ' from 3.35 per cent in the previous week. Rising crude prices, however, pose a major threat to domestic prices. Drop in inflation was due to prudent money supply management by the central bank as well as dip in the prices of manufactured items, minerals and some farm products.

Crude price

London, Aug. 26: Oil held firmly above $67 a barrel on Friday. US light crude was down 9 cents at $67.40 a barrel, after hitting a record $68 on Thursday. London Brent crude was off 12 cents at $66.15.

Drugs panel

New Delhi, Aug. 26: The task force on drugs set up by Prime Minister Manmohan Singh wants a complete overhaul of the current pricing regime. The report will be submitted to Ram Vilas Paswan, Union minister for chemicals and fertilisers, next week.

Vijaya Bank

Mumbai, Aug. 26: Vijaya Bank will merge its subsidiary, Vibank Housing Finance, with itself on August 31, the bank informed the bourses today.

IVRCL issue

Mumbai, Aug. 26: IVRCL Infrastructures and Projects Ltd today said it will raise $140 million by issuing global depository receipts.