Export sops all set to go The Centre is considering to withdraw incentives given to exporting companies when they were in distress due to strengthening of rupee last year as the domestic currency has now sharply declined against the US dollar, benefiting exporters.
Current a/c deficit at 1.5% of GDP: RBI Surging oil import bill has turned Indias current account balance into deficit of US$1.04 billion in the fourth quarter of 2007-08 against US$4.25 billion surplus a year ago, despite growth in software services exports and rise in remittances from overseas Indians.
SBI hikes interest rates Home loans and auto financing from public sector State Bank of India (SBI) would be dearer as the lender has decided to hike interest rates by 50 basis points on all credit linked to prime lending rates.
OPEC no to price band call Oil cartel OPEC, on Monday, rejected Indias call for regulating crude prices through a price band, saying the market was the best judge and forecast prices climbing to US$170 a barrel on summer demand in the US.
RBI & Bank of Japan ink currency swap pact Bank of Japan (BOJ) and Reserve Bank of India (RBI) has concluded a bi-lateral swap arrangement (BSA) between Japan and India.
A StarKist brand product is seen on a grocery store shelf, Monday, June 30, 2008 in Boston. Del Monte will sell its seafood business, which includes the StarKist brand, to a South Korean company for $363 million as it focuses on higher margin produce and pet foods. AP
