The Telegraph
Since 1st March, 1999
Email This Page
Business Briefs

EPF rates to remain at 9.5%

New Delhi, Feb. 13: The government today ruled out cut in interest rates on employees’ provident fund this fiscal from the present 9.5 per cent. But it would be reviewed next fiscal based on the surplus position. “The rates on provident fund will remain same this fiscal. We will review it next fiscal based on the surplus positions,” Union labour minister Sahib Singh Verma said after a meeting with finance minister Jaswant Singh here.

Cellular base

New Delhi, Feb. 13: India’s cellular subscribers base rose to 11.16 million in January from 10.48 million in the previous month, registering a growth of 6.4 per cent. In January, the monthly addition of cellular subscribers stood at 6,82,711 according to the data released by the Cellular Operators Association of India.

Drug price

New Delhi, Feb. 13: In a move affecting IPCA Labs Ltd, National Pharmaceutical Pricing Authority today reduced the price of bulk drug chloroquine phosphate from Rs 870 per kg to Rs 790 per kg. IPCA Labs is the only known manufacturer of the bulk drug used in treatment of malaria.

WTO meet

Tokyo, Feb. 13: Ahead of tomorrow’s crucial WTO mini-ministerial meet here to discuss the Doha Agreements, India would spell out its firm stand on the contentious issue relating to market access in agriculture to the US and the European Union.

Rabo Bank

New Delhi, Feb. 13: Rabo Finance today kick-started its carbon advisory services in India for facilitating financial and technical resources to projects which take up reduction of the harmful greenhouse gases in environment.

CSE turnover

Calcutta, Feb. 13: The turnover at Calcutta Stock Exchange (CSE) today dipped to an all-time low of Rs 4.05 crore during day’s trading although the major markets of BSE and NSE remained closed on account of Id-ul-Zoha. The broadbased CSE-40 index also lost heavily to close at 1773.63 from Wednesday’s close of 1782.03.

IMF assistance

New Delhi, Feb. 13: The International Monetary Fund today patted India for its “comfortable” foreign exchange reserves and said the country was not in need of any assistance from it. “India does not need any financing from IMF considering that the country had $ 73 billion of forex reserves,” IMF’s representative in India, James Gordon, said.

Email This Page