The Telegraph
Friday , June 8 , 2012
Since 1st March, 1999
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Business Briefs

Sensex, rupee strong

Mumbai, June 7: The Sensex climbed 195 points today to a one-month high of 16649.05 as investors cheered the government’s push to the infrastructure sector and the rising rupee. The 30-share index opened with a 100-point gain on strong Asian cues and consolidated gains further as the rupee clawed back to end at Rs 54.95 against the dollar.

Gold tariff

New Delhi, June 7: In the wake of rising global prices of precious metals, the government today hiked the import tariff of gold to $531 per 10 grams, while the value was kept unchanged at $899 per kg for silver imports.

GVK blow

Melbourne, June 7: The Australian government today said the coal-rich Queensland state would have no further role in the massive Alpha coal mine approval process following a dispute with India’s GVK Group over environmental issues.

SAIL deal

New Delhi, June 7: Steel Authority of India Ltd and Japan’s Kobe Steel have incorporated their joing venture last month for producing 500,000 tonnes of iron nuggets a year at the Durgapur plant in Bengal.

Tata Steel

Bangalore, June 7: Tata Steel today announced its plans to set up a Rs 30,000-crore steel plant in Karnataka at the Global Investors’ Meet 2012.