Brazil unveils stimulus

Brasilia, June 27: Brazil today unveiled a $4-billion stimulus package that includes government purchases of domestic goods and equipment to try to boost growth amid the global economic downturn, finance minister Guido Mantega said. The package includes 8,570 school buses, 8,000 trucks to combat drought and for use by the armed forces, and the purchase of a mass of farm equipment.

Strides bonds

Mumbai, June 27: In the backdrop of mounting worries about a large number of companies’ ability to honour debt commitments, drug firm Strides Arcolab today said it had redeemed its entire outstanding $80 million worth of FCCBs on the due date.

Mobile users

New Delhi, June 27: Total mobile subscriber base in India grew to 952.91 million in April from 951.34 million in March with a net addition of 1.85 million users, according to Trai.

Insurance

New Delhi, June 27: First year premium of life insurance companies rose 1.4 per cent during the first two months of the current fiscal, according to the Insurance Regulatory and Development Authority.

StanChart

London, June 27: Standard Chartered Plc today said its income in the first half of 2012 would be hit by the weakness in the rupee against the dollar.