Govt to prop up oil companie' bottomlines

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• Govt to prop up oil companie' bottomlines
• Banks raise funds at up to 9.8%
• Sahara buys UK hotel for Rs 3,275cr
• Sahara buys UK hotel for 3,275cr
• CCEA okays 1,200cr equity infusion into AI
• CCEA okays Rs 1,200cr equity infusion into AI
• Onion pushes food inflation to 14.4%
• US stocks tread water despite strong jobs data
• Rupee up 8 paise against dollar
• 25 paise and below coins defunct from June 30
• Silver conquers Rs 47000/kg milestone
• Sensex closes with 133 points gain
• Swiss franc hits record high vs dollar, euro
• Carrefour opens first cash and carry store in India
• Food inflation at 10-week high of 14.44%
• Rupee up 16 paise against US dollar
• Sensex up by almost 82 points

Govt to prop up oil companie' bottomlines Posted: 30 Dec 2010 05:20 PM PST Striking a balance between business and politics, the petroleum secretary S Sundareshan said on Thursday that the government would not let state-run oil marketing companies hang out to dry for shielding consumers from the impact of surging international crude and the government will make up their losses without asking domestic oil producers to share any extra burden.

Banks raise funds at up to 9.8% Posted: 30 Dec 2010 05:14 PM PST Factors like quarter-end demand for loans coupled with the cash crunch and low growth in bank deposits have forced banks to raise funds from the money market at close to double-digit rates during the last week of December.

Sahara buys UK hotel for Rs 3,275cr Posted: 30 Dec 2010 05:11 PM PST In the first crossborder deal for the Indian hospitality sector this year and also the first one for Subrata Roy's Sahara India, the Lucknow-based financial services-to-real estate conglomerate has acquired UK's iconic Grosvenor House hotel for a knock-down price of £470 million (Rs 3,275 crore) from the Royal Bank of Scotland (RBS).

Sahara buys UK hotel for 3,275cr Posted: 30 Dec 2010 05:11 PM PST In the first crossborder deal for the Indian hospitality sector this year and also the first one for Subrata Roy's Sahara India, the Lucknow-based financial services-to-real estate conglomerate has acquired UK's iconic Grosvenor House hotel for a knock-down price of £470 million (Rs 3,275 crore) from the Royal Bank of Scotland (RBS).

CCEA okays 1,200cr equity infusion into AI Posted: 30 Dec 2010 05:04 PM PST The Cabinet Committee on Economic Affairs (CCEA) on Thursday approved the infusion of Rs 1,200 crore equity into loss-ridden Air India. It also cleared the way for "rationalizing and harmonizing" wages of employees of erstwhile AI and Indian Airlines that were merged to create the joint entity.

CCEA okays Rs 1,200cr equity infusion into AI Posted: 30 Dec 2010 05:04 PM PST The Cabinet Committee on Economic Affairs (CCEA) on Thursday approved the infusion of Rs 1,200 crore equity into loss-ridden Air India. It also cleared the way for "rationalizing and harmonizing" wages of employees of erstwhile AI and Indian Airlines that were merged to create the joint entity.

Onion pushes food inflation to 14.4% Posted: 30 Dec 2010 11:34 AM PST Food inflation rose to a 10-week high in mid-December on the back of soaring onion, vegetable, fruit and other commodity prices prompting the government to raise its year-end headline inflation forecast to 6.5%.

US stocks tread water despite strong jobs data Posted: 30 Dec 2010 08:51 AM PST US stock markets continued this week's trend of listless and holiday-thinned trading Thursday, with most of the major indexes trading slightly down.

Rupee up 8 paise against dollar Posted: 30 Dec 2010 08:02 AM PST Continuing its north-bound journey for the third straight session, the rupee today firmed up by eight paise against the dollar to close about two-week high of 44.95/96 on rally in equities amid capital inflows.

25 paise and below coins defunct from June 30 Posted: 30 Dec 2010 06:04 AM PST Come June 30, 50 paise will be the minimum coin accepted in the markets as all denominations below it will cease to be legal currency.

Silver conquers Rs 47000/kg milestone Posted: 30 Dec 2010 05:27 AM PST Silver prices rallied to conquer another milestone of Rs 47,000 a kg at the bullion market today on hectic speculative buying triggered by a surge in international market.

Sensex closes with 133 points gain Posted: 30 Dec 2010 04:01 AM PST Buying interest in IT bellwether Infosys Technologies, which carries the maximum weight on Sensex after RIL, was instrumental in the overall gain, as the scrip hit a record high, up 1.21 per cent.

Swiss franc hits record high vs dollar, euro Posted: 30 Dec 2010 12:27 AM PST The Swiss franc rose broadly in a thin market on Thursday, hitting record highs against the dollar and the euro underpinned by its safe-haven status and lower U.S. bond yields

Carrefour opens first cash and carry store in India Posted: 29 Dec 2010 11:55 PM PST Retail giant Carrefour today announced its entry into the Indian market by opening its first cash and carry store for wholesale distribution.

Food inflation at 10-week high of 14.44% Posted: 29 Dec 2010 11:04 PM PST Food inflation stood at 12.13 per cent in the previous week. This is the fifth consecutive week when the rate of price rise of food items has increased.

Rupee up 16 paise against US dollar Posted: 29 Dec 2010 09:33 PM PST The Indian rupee surged by 16 paise to Rs 44.88 per dollar at the Interbank Foreign Exchange in early trade on Thursday, boosted by dollar weakness against other Asian currencies and a higher opening in the stock market.

Sensex up by almost 82 points Posted: 29 Dec 2010 09:03 PM PST Extending Wednesday's rally, the BSE benchmark Sensex rose by almost 82 points in opening trade today, led by IT, tech, capital goods, metal and realty stocks.

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