| |
Cabinet clears petro bonds
The Union cabinet has urged the President to promulgate an act allowing the government to hike the Contingency Fund base from Rs 14,700 crore to Rs 32,490 crore. This move will help the issuance of petro bonds and
 |
|
Rupee under pressure again
The foreign exchange market witnessed nervousness on Tuesday as the rupee came under pressure against the dollar once again. The spot rupee lost ground and closed marginally weaker at 39.08/18 -- 10 paise weaker than yesterday's close -- and forward premium on dollar zoomed to a new peak.
|
 |
Air-India, BA launch fare discount wars
Tourists looking to fly to the United Kingdom, United States and Europe have got a windfall, thanks to the price war between the national carrier, Air India (A-I) and British Airways (BA). Both the airlines have announced heavy discounts to travellers on these segments. BA sparked off the war by announcing a 40% discount, a move countered by A-I with a 45% discount.
|
Smithkline, AHP in merger talks
Smithkline Beecham today said the company was in merger talks with American Home Products (AHP) to create the world's second largest drug company. The proposed merger would create the world's largest drug company with a market valuation of around 7.75 billion pounds, making it only marginally smaller than Johnson and Johnson.
|
