Briefly Business: GoM on drug policy likely to meet next week

GoM on drug policy likely to meet next week

New Delhi: A panel of ministers, headed by agriculture minister Sharad Pawar, is expected to meet next week to fine tune the drug pricing policy after the Cabinet deferred taking a decision on it following objections from the finance ministry.

Services exports up 6.3% at $11.94 bn

Mumbai: Services exports in September stood at $11.94 billion (over Rs 65,000 crore), up 6.3 per cent from that in the same month last year. Total exports from services in September 2011 was at $11.23 billion, according to the Reserve Bank data.

Karnataka Bank lowers base rate

Mumbai: Karnataka Bank has reduced its base rate by 25 basis points to 10.75 per cent, with effect from November 10. In a notice to the BSE, the bank said that the reduction is applicable to existing as well as future loans. The private bank also lowered deposit rates on one to five-year deposits by 25 bps to 9 per cent.

Audi to raise prices by up to 5% from January

New Delhi: Audi India on Thursday said it will raise prices of its entire range of vehicles by up to five per cent with effect from January next year due to rising input costs and falling rupee.

Sun deal: Taro halts shareholders meeting

New Delhi: Israeli firm Taro Pharmaceutical Industries Ltd on Thursday said it has postponed a meeting of shareholders to consider the company's proposed merger with Sun Pharma.

Sensex down 147 points to 2-week low

Mumbai: Extending losses for the fifth straight day, the BSE benchmark Sensex on Thursday closed 147.50 points lower at over two-week low of 18,471.37 weighed down by losses in IT and metal stocks, amid a weak global trend due to persistent worries over US fiscal problems.

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