Tuesday, July 22, 2008

Business news extracts –India (July 22, 2008)

1. The stock markets today: The BSE’s benchmark index, Sensex closed higher at 14,104, up by 254 points. Nifty 50 closed at 4240, up by 81 points. In bullion market, gold price was quoted at Rs.13,448/10gm and silver was quoted higher at Rs.26,031/kg.. Nymex crude oil was trading at US$132 a barrel. Rupee was at Rs.42.73 a dollar.
2. Trust vote is in serious problem: BJP MPs alleged that they were bribed in crores for cross-voting by Samajwadi Party.
3. Mobile base of Rel. Com: Reliance Communications crosses 50 million mobile user base in India. The rel. Com has become the fifth mobile operator to serve 50 million mobile customers in Asia.
4. Industry wants govt to survive: Industry and stock markets want the UPA government to survive the Trust Motion today in Lok Sabha. It is felt that the nuke-deal is good bet in long-term. Without Left parties, the government now can take up unfinished agenda of the economic reforms.
5. Roshe offer to Genentech: Swish drug maker Roche Holding offered to acquire all outstanding shares in its US partner Genentech for US$43.7 billion in cash.

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