Briefly Business: Forex reserves dip by $580 mn to $295.7 bn

Forex reserves dip by $580 mn to $295.7 bn

Mumbai: The foreign exchange reserves of the country declined by $580 million to $295.67 billion during the week ended January 18 following decline in core currency assets, the Reserve Bank said on Friday. The total reserves had stood at $296.252 billion in the previous reporting week.

Ceat forms JV with Bangladesh firm

Mumbai: RPG Group's tyre-making arm Ceat on Friday announced formation of a joint venture company with the Bangladesh-based AK Khan & Company to set up a manufacturing facility in the neighbouring country. The facility, which will come up at the investment of $67 million, is expected to be functional by December 2014.

Exxon Mobil is world's most valuable firm

NEW YORK: Exxon has once again surpassed Apple as the world's most valuable company. Apple's stock dropped 2.4 per cent to $439.51 in midday trading Friday for a market capitalisation of $412.7 billion. Exxon Mobil gained 22 cents to $91.57 for a market cap of $417.5 billion.

Crisil downgrades Airtel's ratings

New Delhi: Rating agency Crisil has downgraded telecom major Bharti Airtel's rating after the government imposed a one-time fee for spectrum it holds beyond a threshold. "Crisil has downgraded its ratings on Bharti Airtel long-term debt programmes and bank facilities to 'CRISIL AA+/Stable' from 'CRISIL AAA/Negative'".

45 countries to attend Agra business summit

New Delhi: Political leaders and business delegates from 45 countries will deliberate on issues pertaining to world economic crisis during the three-day Global Partnership Summit at Agra, beginning January 27.

Britain flirts with 'triple dip' recession

London: Britain's economy shrank more than expected at the end of 2012 with a North Sea oil production slump, lower factory output and a hangover from London's Olympics pushing it perilously close to a 'triple-dip' recession. The GDP fell 0.3 per cent in the fourth quarter.

Please read our terms of use before posting comments
TERMS OF USE: The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).
comments powered by Disqus