Consumer price index plummets The rate of inflation based on the consumer price index fell to 9.4 per cent in January from 15.3 per cent in December 1998. The inflation rate fell drastically by 5.9 percentage points during the month as the all-India consumer price index for industrial workers (CPI-IW) decreased to 420 in January from 429 in December. Telecom hearing The Delhi high court today adjourned the hearing of the petition filed by four private cellular and basic telephone operators for tomorrow. Meanwhile, Bharti BT Internet Ltd today received the licence for offering Internet services all over the country. Ispat purchase UK-based global steel giant Ispat International announced that it will buy Unimetal, Tefileurope, SMR and other related subsidiaries of the world?s second largest steel producer Usinor. HP recast Hewlett Packard (HP) today announced a strategic realignment of its business activities. The new setup will have two independent companies. Export credit The RBI today set up a six-member monitoring group of bankers to track the implementation of its scheme for sanctioning of export credit by banks in foreign currency to exporters. Vesuvius deal Vesuvius India Limited has struck a deal with KSR International (India) for asset buyout and assignment of licence.