MMTC contract

New Delhi, July 7: The cabinet today allowed state-owned MMTC to export high grade iron ore to Japanese steel makers and South Korea’s Posco for three years till 2014. Information and broadcasting minister Ambika Soni told reporters after a cabinet meeting that the government had allowed MMTC to renew its long-term agreement with the steel makers.

Food inflation

New Delhi, July 7: Cheaper pulses and vegetables brought down food inflation to a seven-week low of 7.61 per cent for the week ended June 25 though finance minister Pranab Mukherjee said inflationary pressure was likely to continue following the recent increase in rates of petroleum products.

L&T Finance

New Delhi, July 7: L&T Finance Holdings has raised Rs 330 crore from the US-based private equity fund Capital International. The firm will allot 6 crore equity shares on a private placement basis at a price of Rs 55 per piece.