The Telegraph
Since 1st March, 1999
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Business Briefs

Inflation shoots up to 5.32%

New Delhi, July 13: The inflation rate shot up to 5.32 per cent for the week ended June 28 with vegetable prices shooting up by 11 per cent. Though some edible oils became cheaper and fuel prices stood firm, the rate was up by 0.11 per cent from the week-ago level. After hitting the fiscal’s lowest figure of 4.97 per cent in the second week of June, the point-to-point wholesale price index (WPI) had been continuously rising. It was only 2.67 per cent in the year-ago period, showing that living cost has almost doubled.

LIC launch

New Delhi, July 13: Prime Minister Atal Bihari Vajpayee will launch LIC’s Varistha Pension Bima Yojna tomorrow, which offers an attractive 9 per cent return to senior citizens above 55 years of age. Vajpayee will also flag off universal health insurance scheme to be offered by the four PSU general insurers at a nominal cost of Re one a day.

NFL bids

New Delhi, July 13: The government is likely to invite price bids for sale of majority stake in National Fertilisers (NFL) later this month. Sources said the final transaction documents would be circulated to bidders following clearance from the Cabinet Committee on Disinvestment to “freeze” the papers.

IGL public offer

New Delhi, July 13: Indraprastha Gas Ltd, the monopoly CNG and piped gas supplier in Delhi, is planning a maiden issue and listing on bourses by October.

IFFCO plans

New Delhi, July 13: Co-operative fertiliser giant IFFCO, having freed itself from government control, has asked Rabo Bank to be its partner for starting banking operations.

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