Mumbai, April 21: India’s forex reserves increased by $2.77 billion to $203.09 billion in the week ended April 13 from $200.32 billion in the preceding week. The reserves had increased by $1.14 billion in the week ended April 6. Foreign currency assets rose by $2.76 billion to $195.84 billion in the week, according to figures released by the Reserve Bank. Foreign currency assets in dollars include the effect of revaluation of non-US currencies such as euro, sterling and yen held in reserves.
Bangalore, April 21: Chinese consumer electronic company TCL will expand its network and double its after-sales service centres in India by 2010. TCL also launched a range of colour televisions and air conditioners. The price range of the television models starts from Rs 8,490.
Ludhiana, April 21: Commodity market regulator Forward Market Commission (FMC) has advocated the participation of banks, mutual funds and foreign institutional investors in forward trading in commodities.
Boao, China, April 21: Chinese offshore oil developer CNOOC Ltd is planing to work with Japanese and Indian firms to develop alternative energy sources and invest in oil fields in third-party countries, the company’s chief executive said today. CNOOC was forced in 2005 to withdraw an $18.5-billion takeover bid for US energy firm Unocal Corp.
