FM meet on exports

New Delhi, Nov. 11: Finance minister P. Chidambaram will meet heads of different export bodies on November 15. There are indications that the commerce ministry is pressing for another package for exporters who are witnessing a fall in profit because of a sharp rise in the rupee. “The finance minister will evaluate the impact of rupee appreciation on exports,” an official said.

SBI issue

New Delhi, Nov. 11: The Union cabinet is likely to take a call by November 22 on the State Bank of India’s plan to raise about Rs 18,000 crore through a rights issue. “We have prepared a note and it will be taken up at the cabinet meeting either on November 15 or November 22,” official sources said.

CIL plan

Calcutta, Nov. 11: Coal India Ltd (CIL) will switch to quality-linked pricing of coal and is holding negotiations with power generating firm NTPC. “We are planning to make sub-grades of coal and fix the price based on the quality in the wake of complaints on demand from coal consumers,” CIL chairman Partha S. Bhattacharyya said.

Opec move

Kuwait City, Nov. 11: The Saudi and Kuwaiti oil ministers said today that Opec would discuss the possibility of raising oil production if it was necessary to cool soaring prices. “It is premature (to speak of a hike in output). When Opec meets, we will discuss this issue,” Ali al-Nuaimi, oil minister of Saudi Arabia said during a short visit to Kuwait.

Google buy

Mumbai, Nov. 11: Google Inc will invest up to Rs 22.5 crore in Ventureast Tenet Fund-II, a seed-stage fund that will invest in technology companies trying to establish their foothold. The fund is promoted by the Tenet group of the Chennai IIT and Hyderabad-based Ventureast Fund Advisors.

Auto check

New Delhi, Nov. 11: The Planning Commission has planned a centralised, IT-based system for vehicle registration with a number similar to PAN for automobiles to assess transaction costs.

Energy need

New Delhi, Nov. 11: India is set to become the world’s third-largest oil importer after the US and China before 2025, according to the International Energy Agency.