The Telegraph
Since 1st March, 1999
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Business Briefs

Inflation falls to 3.15 %

New Delhi, Dec. 22: A near 10 per cent fall in the price of vegetables coupled with substantial slide in diesel and petrol prices, pushed inflation down to 3.15 per cent for the second consecutive week ended December 7. The point-to-point price change, as measured by wholesale price index (WPI), declined from 3.40 per cent in the previous week and 2.27 per cent in the year-ago period. The WPI fell by 0.2 per cent to 167.2 for the period under review compared with 167.5 a week ago and 162.1 in the previous year. The final WPI stood corrected at 167.6 compared with the provisional level of 167.2, while the final inflation was at 3.08 per cent against the provisional figure of 2.83 per cent.

Railways JV

Hasnabad (WB), Dec. 22: Indian Railways will form a joint venture with NTPC to generate 2000 MW power for traction purposes. The Railways and NTPC have set up a joint project committee to identify sites for the proposed plants, railway minister Nitish Kumar said.

Union Bank

Kozhikode, Dec. 22: The Union Bank of India has requested the government to make necessary alterations in the existing laws so that recovery of bad debts would be smoother, its chairman V. Leeladhar said.

Truck sales

New Delhi, Dec. 22: Domestic commercial vehicle sales grew 30.8 per cent to 1.14 lakh units during April-November 2002 against 87,219 units a year ago riding on the back of surging truck sales of Tata Engineering, Mahindra and Mahindra and Eicher.

FII purchases

Mumbai, Dec. 22: Foreign institutional investors (FIIs) were net buyers in equities at Rs 167.5 crore ($ 34.7 million) during the week ended December 20. FIIs traded in debt only on two days throughout the trading week.

RPL refinery

New Delhi, Dec. 22: An unplanned shutdown of a crucial unit of the Reliance refinery at Jamnagar has forced state-run oil companies to import LPG to meet the domestic demand of cooking gas.

Air-India fleet

New Delhi, Dec. 22: With Air-India and Indian Airlines planning to buy aircraft and their acquisition plans awaiting the Cabinet Committee on Security nod, concerns are being expressed that the purchase option could spell doom in the long run for the carriers which could find it difficult to pay off the huge debts.

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