Forex reserves rise

Mumbai, Jan. 12: The country’s foreign exchange reserves increased by $696 million to $276.25 billion for the week ended January 4. The reserves had grown by $2.83 billion to $275.56 billion a week ago. Foreign currency assets increased by $724 million to $267.49 billion. Foreign currency assets expressed in dollar terms included the effect of appreciation or depreciation of other currencies such as the euro, pound and yen held in reserves.

Mitsui India

New Delhi, Jan. 12: The government has permitted Mitsui India to issue 27.58 million shares to its parent company Mitsui Japan through a non-cash transaction deal. According to the proposal cleared by the FIPB recently, Mitsui India will issue shares to Mitsui Japan for a non-cash consideration.