The Telegraph
Tuesday , February 26 , 2013
Since 1st March, 1999
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Business Briefs

SBI on HPL board

Calcutta, Feb. 25: The State Bank of India will induct a nominee on the board of Haldia Petrochemicals Ltd (HPL). The SBI nominee will come in the place vacated by the LIC member of the board. There are 14 members on the HPL board now — four each from the state government, The Chatterjee Group and financial institutions. Apart from this, the board has one independent director and a managing director.

S&P hope

Mumbai, Feb. 25: Global rating major Standard & Poor’s (S&P), which has threatened to downgrade the country’s sovereign rating to junk, today said it saw economic growth improving to 6.4 per cent next fiscal.

Nokia launch

Barcelona, Feb. 25: Nokia today unveiled four devices, including its cheapest phone at 15 euro (around Rs 1,100), and sought to strengthen the smartphone portfolio in an attempt to regain the ground it has lost to global rivals Samsung and Apple.

RBI move

Mumbai, Feb. 25: The RBI will infuse additional liquidity of Rs 10,000 crore through open market operations on March 1. The apex bank will buy government securities maturing in 2014 (bearing interest rate of 7.32 per cent), 2016 (7.59 per cent), 2022 (8.15 per cent) and 2025 (8.20 per cent).

Ranbaxy drug

New Delhi, Feb. 25: Pharma major Ranbaxy Laboratories has restarted production of generic cholesterol lowering drug Atorvastatin as it looks to resume supplies to the US.