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Since 1st March, 1999
 
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Business Briefs

Rupee at new low

Mumbai, Feb. 27: The Indian rupee breached the 51-mark for the first time ever against the greenback as the local currency lost 66 paise on sustained strong demand for the dollar from foreign banks and oil importers amid weak stock markets. In the overseas market, the dollar gained against its major rival euro, but slipped against Asian competitor yen.

Citi stake

New York, Feb. 27: The US government will boost its equity stake in Citigroup to as much as 36 per cent by converting up to $25 billion in preferred shares to common stock in its third attempt to prop up the ailing banking giant in the past five months.

3G rates

New Delhi, Feb. 27: BSNL has launched 3G mobile services in 11 cities and announced a rate of Re 1 per minute for video calls in the Rs 2,500-plan. The service has been rolled out in Agra, Ambala, Jalandhar, Jaipur, Dehradoon, Shimla, Lucknow, Ranchi, Durgapur, Haldia, Patna.


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