Mumbai, May 7: The Indian rupee breached the 41-level against the greenback for the first time in nearly nine months at 41.35/36 a dollar today as the demand for the US currency from oil firms multiplied after the global crude oil price hit yet another high. The rupee last closed above the 41-level on August 16, 2007 when it settled at 41.36/37 a dollar.
New Delhi, May 7: The government has suspended futures trading in channa (gram) refined soya oil, potato and rubber with immediate effect, consumer affairs secretary Yashwant Bhave said today.
Mumbai, May 7: The Reserve Bank of India has proposed that foreign companies wishing to set up liaison and branch offices in the country need to have a minimum networth of $50,000 and $100,000, respectively.
New Delhi, May 7:UK- based beer manufacturer Sabmiller plans to more than double its capacity in India in the next five years with an investment of around Rs 2,000 crore.
Mumbai, May 7: Industrial Development Bank of India (IDBI) said it had changed its name to IDBI Bank with effect from today. The bank has received a certificate of incorporation issued by the registrar of companies, Maharashtra.
