IOC’s forex borrowings rise to $7 billion

---

• IOC’s forex borrowings rise to $7 billion
• Renault kicks up SUV competition with Duster
• Auchan, Landmark close to retail deal
• PSBs strike ATM outsourcing deal
• India to export excess wheat stocks
• Spain to unveil new austerity steps soon
• Sensex closes 37 points higher
• RBI reduces fee for online payments
• Gold declines marginally, silver gains Rs 200
• India's domestic air travel growth crashes
• Sensex up 92 points in early trade
• Rupee turns weak, down 23 paise against dollar

IOC’s forex borrowings rise to $7 billion Posted: 04 Jul 2012 02:42 PM PDT IndianOil Corporation's foreign currency borrowings have risen to $7 billion as the flagship refiner-marketer copes with staggered flow of government dole to cover under-recovery on both diesel and kitchen fuels.

Renault kicks up SUV competition with Duster Posted: 04 Jul 2012 02:23 PM PDT French carmaker Renault fired new competition in the fast-growing SUV market in India, driving in its Duster off-roader at an aggressive Rs 7.19 lakh (petrol, ex-showroom Delhi).

Auchan, Landmark close to retail deal Posted: 04 Jul 2012 01:56 PM PDT French retail giant Groupe Auchan SA plans to open 85 stores in India over the next six years as it nears a formal deal with NRI tycoon Micky Jagtiani's Landmark Group.

PSBs strike ATM outsourcing deal Posted: 04 Jul 2012 01:37 PM PDT Public sector banks (PSBs) have ensured a drastic reduction in ATM transaction costs by inking one of the largest outsourcing deals in the financial sector under which nine firms have been contracted to install and manage over 63,000 ATMs.

India to export excess wheat stocks Posted: 04 Jul 2012 07:35 AM PDT India has approved the export of two million tonnes of wheat from its overflowing stocks to create storage space for new crops, the government said on Wednesday.

Spain to unveil new austerity steps soon Posted: 04 Jul 2012 05:44 AM PDT Spain's government is putting finishing touches to an up to 30 billion euro ($38 billion) package of spending cuts and tax hikes to help it meet this year's deficit targets, sources with knowledge of the matter said.

Sensex closes 37 points higher Posted: 04 Jul 2012 04:15 AM PDT Led by metal and realty shares, the Sensex on Wednesday gained for the second straight day and ended 37 points higher at 17,462.81, its highest close in nearly 11 weeks, amid a weak trend in global markets.

RBI reduces fee for online payments Posted: 04 Jul 2012 02:51 AM PDT The Reserve Bank of India has reduced transaction charges for payments made online through debit cards to a maximum of 1%, addressing a long-standing grouse of consumers and merchants who were paying almost double earlier

Gold declines marginally, silver gains Rs 200 Posted: 04 Jul 2012 02:44 AM PDT Gold prices fell marginally by Rs 10 to Rs 30,050 per 10 grams in the bullion market here on Wednesday on subdued demand amid weak global cues, while silver gained Rs 200 to Rs 53,500 per kg on increased offtake.

India's domestic air travel growth crashes Posted: 04 Jul 2012 12:09 AM PDT From one of the fastest growing domestic aviation markets globally, India has now witnessed significant slowdown in its once sunrise sector.

Sensex up 92 points in early trade Posted: 03 Jul 2012 09:37 PM PDT The BSE benchmark Sensex gained over 92 points in early trade today on sustained capital inflows amid a firming trend on Asian bourses.

Rupee turns weak, down 23 paise against dollar Posted: 03 Jul 2012 09:34 PM PDT Snapping its four-day rising streak, the rupee declined by 23 paise to Rs 54.61 against the dollar in early trade today on the Interbank Foreign Exchange due to the American currency gaining against the euro overseas.

You are subscribed to email updates from Business News, International Business, Latest India Business and Markets News - Times of India To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
Google Inc., 20 West Kinzie, Chicago IL USA 60610