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Since 1st March, 1999
 
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Business Briefs

Forex kitty

Mumbai, March 12: The country’s foreign exchange reserves surged $1.8 billion to $302.59 billion driven by a healthy increase in foreign currency assets. The reserves had stood at $300.78 billion the week before, moving up $158 million. Foreign currency assets, the biggest component of the foreign reserves, went up $1.54 billion for the week ended March 4, the Reserve Bank said in its weekly data.

Toyota unit

New Delhi, March 12: Japanese car maker Toyota has postponed the official inauguration of its second Indian manufacturing facility at Bangalore in view of the devastating earthquake and tsunami in Japan. The company, which is present in India through a joint venture with the Kirloskar Group, has invested Rs 3,200 crore to set up the car facility.

AOL job cut

Washington, March 12: American Internet giant AOL is cutting 700 jobs in India, but is outsourcing 300, a top company official has said.


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