Inflation slides to 4.14%

New Delhi, Nov. 18: The rate of inflation slipped to 4.14 per cent for the week ended November 5 from 4.75 per cent in the previous week, despite a rise in the prices of essential food and non-food, fuel and manufactured goods. The RBI?s decision to hike the repo and reverse repo rates by 0.25 per cent each paid off as excess liquidity in the system was sucked off and checked inflation. The wholesale price index was up by 0.1 per cent to 198.5 points from 190.6 points a year ago.

Sesa Goa

New Delhi, Nov. 18: Sesa Goa Ltd has granted an exclusive licence to US-based Xtnrgy for using its Indian patented non-recovery coke making technology to set up non-recovery coke oven plants in North America, Central America, South America and the UK.

Bond rate

Mumbai, Nov. 18: The Reserve Bank today fixed the rate of interest on the floating rating bonds, 2006 applicable for half year from November 22, 2005 to May 21, 2006 at 5.71 per cent per annum.

IISCO merger

New Delhi, Nov. 18: The shareholders of Steel Authority of India have approved the scheme of amalgamation with its wholly-owned subsidiary, Indian Iron and Steel Compmay (IISCO).

Indian Rayon

Mumbai, Nov. 18: The three-way merger of Aditya Birla Group companies Indian Rayon, Birla Global Finance and Indo Gulf Fertilisers moved a step further with Indian Rayon shareholders approving the scheme for amalgamation.