Stronger rupee hurts CII
Mumbai, July 31: India Inc is apprehensive that strengthening of rupee against the dollar could hit surging exports. The Confederation of Indian Industry (CII) has conveyed to the Reserve Bank that the country’s exports could get uncompetitive unless the central bank stems the rupee’s rise against the dollar. The rupee has gained around four per cent against the dollar so far in 2003.
Kochi, July 31: The 300 workers of Indal’s smelter at Alupuram, near Kochi, are faced with job losses after promoter Aditya Birla group decided to close down the unit from tomorrow. The smelter, according to the management, is burdened with Rs 27 crore annual loss.
New Delhi, July 31: The production trend in the manufacturing sector in the first quarter of this fiscal has shown continuity in revival and growth over the same quarter last fiscal, CII said in its Ascon survey.
New Delhi, July 31: AirTel today launched a pre-paid tariff targeted at youth between the age of 15-24 spiced with titillating ringtones. It has joined hands with MTV to use their spoofs of dialogue from popular Hindi films as ringtones — a girl screaming and hero yelling ‘Basanti in ke saamne mat nachna’ (Sholay) are a few whaky ringtones that AirTel has introduced.
Calcutta, July 31: BSL will be selling readymade garments under the Louis Burton brand of England in India and the Saarc countries. It will also make garments for the European market under the brand.