Forex kitty swells

Mumbai, May 31: In-dia’s foreign exchange reserves rose to a record $316.171 billion, up $2.09 billion, for the week ended May 23, from $314.081 billion in the previous week. Reserves had shown a jump of $1.3 billion for the week ended May 16. The country’s foreign currency assets, during the period, went up $2.085 billion to $306.203 billion from $304.118 billion in the previous week, the Reserve Bank said in its weekly report today.

Satyam project

Chennai, May 31: Satyam Computer Services has leased 400,000 square feet of office space in Shriram-The Gateway, the special economic zone (SEZ) being developed by Shriram Properties at Perungalathur near here. The facility is scheduled to be completed in November and is expected to accommodate 4,000 Satyam consultants.

Airline merger

Chicago, May 31: UAL Corp’s United Airlines and the US Airways group will not merge, a decision that experts said killed the chances of further US airline consolidation this year. The two carriers, the second and sixth largest in the US, respectively, declined to comment on why they ended the talks.

BoR move

Mumbai, May 31: Private sector lender Bank of Rajasthan (BoR) has received the shareholders’ nod to reduce its authorised capital to Rs 265 crore from Rs 300 crore at present.