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Business Briefs

Norms for trade with EU

New Delhi, Oct. 8: India and the EU are likely to sign a framework agreement next week to start negotiations on a comprehensive pact for trade in goods and services as well as investment flows between the two sides. “The negotiations on a comprehensive trade and investment agreement will start after both sides agree to a framework agreement at the India-EU summit in Helsinki, Finland,” official sources said.

Iran for cut

Tehran, Oct. 8: Iran backs moves by Opec to cut its output quota to shore up slumping oil prices, the country’s oil minister Kazem Vaziri Hameneh said today, according to state news agency Irna.

Durables sales

New Delhi, Oct. 8: Consumer durable companies are targeting a combined sales of about Rs 4,300 crore this festive season. “The market is good and we expect our sales in the season to grow 30 to 35 per cent to Rs 300 crore from Rs 200 crore last year,” Godrej Appliances vice-president (marketing and sales) Kamal Nandi said.

Gold purity

New Delhi, Oct. 8: Assocham has recommended setting up 50 hallmarking centres in the country to check sales of gold jewellery with high levels of impurities.

BSNL tender

New Delhi, Oct. 8: BSNL will open the financial bids for its GSM tender tomorrow to add 45.5 million lines. The five shortlisted bidders are Nokia, Ericsson, Motorola, Siemens and ZTE.


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