IMF upbeat on US

Washington, Aug. 2: The sharp fall in the economic output of the US seems to be ending, but recovery is likely to be gradual as there are still some financial strains, the International Monetary Fund has said. “As a result of their increasingly strong and comprehensive policy measures, the sharp fall in economic output seems to be ending, and confidence in financial stability has strengthened,” the IMF said.

Nano delivery

New Delhi, Aug. 2: Tata Motors will deliver up to 60,000 units of the Nano by July next year. The company is committed to handing over the first lot of one lakh cars by 2010 once its mother plant in Sanand goes on stream.

State loans

Mumbai, Aug. 2: Six state governments are to mop up Rs 7,474 crore by selling 10-year state development loans (SDLs) through auctions on Tuesday. The auction will meet the fund requirements of Jharkhand, Karnataka, Maharasthra, Rajasthan, Uttar Pradesh and Bengal.

Pharma gain

New Delhi, Aug. 2: The domestic pharma industry will make huge gains as drugs worth over $70 billion are expected to go off patent in the US in the next three years, according to a report by UK investment bank Noble.

LIC stir

Mumbai, Aug. 2: LIC employees plan to observe a two-hour walk-out strike on August 4 to protest against the LIC (Amendment) Bill, 2009, introduced by the finance minister in the Lok Sabha on Friday, source said.