Exports grow 16%

New Delhi, Feb. 1: India’s exports grew by 16.04 per cent in December 2007 in dollar terms but in rupee terms it improved only 2.54 per cent, affected by a strong domestic currency. Exports increased to $12.31 billion in December 2007 amid exporters’ concerns over a slowdown in the US economy and appreciation of the rupee against the dollar. In rupee terms, exports were valued at Rs 48,569.64 crore.

Pension

Mumbai, Feb. 1: Interim pension regulator PFRDA today said the new pension scheme for government employees is likely to be fully operational by June. It expects that Parliament will approve the overall pension reforms bill in the forthcoming budget session.

Opec output

Vienna, Feb. 1: Opec left its oil production ceiling unchanged today, snubbing US demands for an increase as the cartel focuses on supporting prices that have fallen 10 per cent since the start of the year. It said stockpiles of crude were likely to increase in the first half of 2008.

Hindustan Oil

Mumbai, Feb. 1: Hindustan Oil Exploration Company has no plans to delist itself from Indian bourses after the acquisition of its UK-based parent company Burren Energy by Italian firm Eni.

Jet stake

Chennai, Feb. 1: Jet Airways will divest a 5 per cent stake before March 31 in compliance with Sebi guidelines, a top company official said.