PF norms on way
New Delhi, Aug. 11: The government is expected to issue guidelines this week for private sector provident funds allowing them to invest up to 10 per cent of their corpus in stock markets and press for similar norms for the Employees Provident Fund. “The investment guidelines for non-government superannuation trust funds allowing 10 per cent investment in stock markets could be issued in next 2-3 days,” a senior finance ministry official said.
Oil price dips
New York, Aug. 11: Crude oil price fell more than $2 to below $113 a barrel on Monday as a drop in crude imports by China outweighed concerns over supply disruptions stemming from the conflict between Georgia and Russia.
Mumbai, Aug. 11: Travel agent bodies across India will down their shutters on August 14 to protest against the decision of airlines to withdraw five per cent commission from November 1.
New Delhi, Aug. 11: Sebi’s board will review the curbs imposed on participatory notes on August 13 but is unlikely to relax them, sources said. This will be the first review meeting after the curbs were imposed on participatory notes last year.
Calcutta, Aug. 11: Haldia Dock Complex has handled 15.14 million tonnes of cargo between April and July despite the worrying condition of the draft in Hooghly river.