Business Briefs 20-07-2007

China GDP up 11.5%

Beijing, July 19: China’s economy grew at an 11.5 per cent rate in January to June owing to its record performance in the second quarter, but surging inflation could be a cause of concern for the government, analysts said. The country’s GDP reached $1.39 trillion in the first half, with the growth rate at 0.5 percentage points higher than the same period last year.

Tata rating

New Delhi, July 19: Global credit rating agency Fitch has assigned speculative grade rating to the £3.67-billion bank debt raised by the UK-based subsidiary of Tata Steel to acquire the Corus group.

Spice debut

Mumbai, July 19: Spice Communications today surged 45.76 per cent on its debut trade on the BSE to end at Rs 60.65.Around 11,71,03,693 shares changed hands during the day.

Nath on WTO

London/Geneva, July 19: Any US cut in the subsidies that support American farmers’ livelihoods will be enough to push India to make concessions in the World Trade Organization talks, commerce minister Kamal Nath said.

Home loan

Mangalore, July 19: Public sector lender Corporation Bank has reduced interest rates on floating home loan rates by a quarter per cent for loans with a tenure of five to 15 years.