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Since 1st March, 1999
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Business Briefs

Inflation drops to 3.51%

New Delhi, April 13: The inflation rate dropped to 3.51 per cent for the week ended April 1 from 3.96 per cent in the previous week, although essential items like vegetables, industrial fuels and some manufactured products became costlier. The rate of inflation fell by 0.45 per cent to 3.51 per cent mainly due to cheaper wheat, some edible oils, soyabean, sunflower, black tea leaf, sooji, atta, maida, khandsari and gur. The rate of inflation was higher at 5.7 per cent a year ago. The wholesale price index was up 0.4 per cent at 197.7 points due to an overall increase in the prices of primary, fuel and manufactured items.

Foreign funds

New Delhi, April 13: The foreign direct investment flow is likely to cross $8 billion in 2005-06, about $1 billion more than the projections, official sources said.

Jagson Air

New Delhi, April 13: Low-cost carrier Jagson Airlines, which will launch operations from May, said it has sold little less than a 15.99 per cent stake to a foreign investor and could go in for a public issue next year.

Nabard target

Mumbai, April 13: The National Bank for Agriculture and Rural Development (Nabard), which almost doubled the refinance facility for commercial banks to Rs 4,289 crore in 2005-06, hopes the demand for such schemes will grow further.

Ambuja plan

Mumbai, April 13: Ambuja Cement Eastern Ltd will invest Rs 800 crore for expanding the capacity at its Chhattisgarh unit. At a meeting held today, the board has approved the plan.

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